Big tobacco company British American Tobacco (BAT) has decided to try investing in nicotine-free products. According to Bloomberg, BAT has invested about $3.5 million in US health drinks startup Tru. The Tru brand sells carbonated drinks and water-soluble fizzy pills. These products are claimed by the company to have positive effects on a person's energy, concentration and sleep. More recently,...

U.S. electric car maker Tesla reported third-quarter earnings. The company's revenues rose 57 percent to $13.8 billion in the period, while net income nearly quintupled to $1.6 billion, a record profit for Tesla. Successful sales of electric cars in China and lower production costs, among other things, helped Tesla to achieve good results for the quarter. At the beginning of October, the...

Alibaba shares in Hong Kong jumped 8.8 per cent after the media reported on founder Jack Ma's first overseas trip of the year. According to Hong Kong's East Week, Jack Ma spent a weekend in Spain, where he travelled by his own plane. The publication's sources claimed that in Spain he boarded his own yacht worth about $200 million, where his friends and business partners were invited. However, the...

Netflix has valued the South Korean series Squid Game at more than $891 million, Bloomberg reported, citing a company document. At least the beginning of Squid Game was watched by more than 130 million subscribers. Streaming service Netflix has valued the South Korean series Squid Game at nearly $900 million, Bloomberg reported, citing a company document. Netflix's projected value of the show...

Shares of Virgin Galactic sank 18.1 per cent after the firm said that the first suborbital commercial flight would not take place for another year. Virgin launched the first flight in test mode on 11 July with founder of the company Richard Branson and 5 other people aboard the spacecraft called Unity 22. The flight had an accident: on the second minute, the vehicle flew off its trajectory, due...

IKEA announced shortages in its shops until mid-2022. Crisis in supplies from China is forcing the company to focus on sales of only the most popular items. Swedish home goods maker IKEA has warned of shortages in its shops until mid-2022 due to a crisis in its supply chain. "The biggest problem is shipping products from China, where there have been very limited opportunities," Inter IKEA chief...

US investment company Blackrock's net profit for the first three quarters rose 26 per cent year-on-year to $4.258 billion, the company said in a statement. Diluted earnings per share attributable to shareholders of the investment company was $27.59, compared with $21.84 a year earlier. Revenue rose 22 per cent to $14.268 billion. Blackrock's third-quarter net profit rose 19% year-on-year to...

Binance, the world's largest cryptocurrency exchange by trading volume, announced on Wednesday that it will stop trading in RMB on its C2C (customer-to-customer) platform from 31 December, according to a statement from the exchange. "In response to regulatory requirements of the local government, Binance C2C will remove the RMB (CNY) trading area on 31 December 2021," Binance said in a statement....

Saudi oil and gas company Saudi Aramco is considering an initial public offering (IPO) of its oil retail unit, sources told Bloomberg. "Saudi Aramco is considering selling a stake in its fuel and lubricants retail business and may float shares on the Riyadh Stock Exchange," the sources said. Negotiations over the initial public offering are at an early stage and the company may refuse to sell,...