The Climate Pledge Fund from Amazon has spearheaded a $500 million investment in X-energy, a company working on small modular reactors (SMRs), as per X-energy's press office. In collaboration, Amazon and the startup plan to introduce over 5 GW of electricity to the US market by 2039. Also, Amazon has entered into deals to help progress nuclear power with Energy Northwest and Dominion Energy, as...

The Swiss financial regulator has mandated UBS to revise its contingency plan (living will) due to the increased risk from acquiring Credit Suisse last year. Finma has halted UBS's annual strategy approval and advised the bank to enhance its current action plan. In a statement, it was mentioned that more choices are necessary to enhance the crisis preparation and exit plan for systemically...

BlackRock Inc., the largest investment company globally in terms of assets under management, saw a 2% rise in net profit and a 15% increase in revenue during the third quarter. The amount of assets being managed by BlackRock grew by 26% to reach a new high of $11.48 trillion, due to both a rise in financial markets and an increase in client investments. As per the company's official statement,...

According to the annual Best Global Brands ranking compiled by Interbrand Corp, Apple has maintained its position as the most expensive brand in the world for twelve years in a row. The Apple brand lost 3% of its value throughout the year, now standing at $488.9bn. The value of the Microsoft brand increased by 11% to reach $352.5bn, keeping it in second place. Amazon remains in third place,...

Samsung Electronics announced in a preliminary report that it recorded revenue between 78 and 80 trillion won ($57.9-59.3 billion) in the third quarter of 2024. The growth is expected to be between 15.7 and 18.7 percent compared to last year. It is anticipated that the operating profit for July-September 2024 will fall between 9-9.2 trillion won, showing an increase from 2.43 trillion won in the...

Warren Buffett's investment firm Berkshire Hathaway keeps cutting its holding in Bank of America Corp. as reported by MarketWatch. According to documents sent to the SEC, Berkshire sold approximately $383 million worth of the bank's 9.6 million shares on October 3, 4, and 7. Currently, the investment firm holds approximately 784.5 million shares of BofA. Therefore, Berkshire holds a 10.1% share...

KLM, the Dutch airline, has stated its plans to reduce expenses, sell off certain investments, and explore the possibility of selling assets in order to make lasting improvements to its operational and financial performance. The company is confident that optimizing the business will lead to a short-term increase in operating profits by €450 million. It anticipates reaching a profit margin...

Microsoft Corp. plans to invest €4.3 billion in the next two years to enhance its infrastructure for cloud and AI development in Italy. In a statement, Microsoft announced plans to invest in creating infrastructure for hyper-scale cloud data centers and AI data centers, in addition to providing training for over 1 million digital professionals by the end of the upcoming year. The company stated...

Analysts at Goldman Sachs anticipate that the strike on the Atlantic coast ports in the USA will have a minimal impact on the country's GDP but will negatively affect retailers and manufacturers in industries reliant on sea transportation, such as automobiles, writes MarketWatch. On the first of October, tens of thousands of port workers on the Atlantic coast initiated the first strike in fifty...