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Latest News & Analysis
Companies & CEOs
US SLB buys CO2 capture company for $400 mln
Innovation & Tools
Study: 8 million people in Britain could lose their jobs because of AI
Companies & CEOs
Stellantis to dismiss 3,600 employees in Italy
Companies & CEOs
US SLB buys CO2 capture company for $400 mln
The US oilfield services business SLB (formerly Schlumberger) has made a NOK 4.1 billion ($382 million) investment in the Norwegian business Aker Carbon Capture (ACC), which creates technology for atmospheric carbon dioxide capture. A joint venture...
Stellantis to dismiss 3,600 employees in Italy
The European automaker Stellantis NV offered to end employment contracts to roughly 3.6 thousand workers at its Italian operations, according to a report from the trade union FIOM-CGIL. MarketWatch reports, referring to the union's statement, that...
Amazon announces $2.75 billion investment in AI startup Anthropic
Anthropic, an AI business, has received a $2.75 billion investment from Amazon, which raised the share of Amazon’s investment in the company to $4 billion. According to a statement from Anthropic, Amazon will invest $2.75 billion in the business,...
Italy sells 12.5% stake in Monte Paschi for €650 mln
According to the Economy and Finance Ministry of Italy, the government has sold securities worth €650 million to lower its interest in Banca Monte dei Paschi di Siena as part of a previously agreed plan. 157.5 million Monte Paschi shares were sold...
Markets & Industries
China's central bank expectedly keeps prime rate at 3.45%
The benchmark lending rate (LPR) for one year was maintained at 3.45% annually by the People's Bank of China (PBOC), the nation's central bank. Five-year borrowing rates remained at 3.95%, historically low. In February, the Chinese central bank...
Commodity traders earn $100bln in 2023
According to calculations made by the consulting firm Oliver Wyman, businesses involved in commodity trading made $100 billion in profits overall by the end of 2023. This is the second-highest figure after the record-breaking year of 2022, when...
NIUS: Number of bankrupt companies rises in Germany
According to the German newspaper NIUS, the number of bankrupt companies in Germany has been in the double digits for the past year and a half, and there is every reason to anticipate that it will continue to rise. There were 17,814 German company...
US airlines expect to reduce airplane deliveries due to Boeing's problems
A number of American airlines have stated that they anticipate a decrease in aircraft deliveries in 2024 because of Boeing's issues. Southwest Airlines announced on March 12 that it had received word from Boeing that, contrary to expectations, the...
In-depth coverage
Mittelstand, Germany’s Hedge Against Crisis
It’s a stormy weather for Europe's biggest economy right now: Germany is facing a recession as high energy costs are becoming a huge burden, for the country's industrial companies especially. All this would be spelling trouble for the entire region if not for the Mittelstand, a bunch of stable German businesses that keep working hard and inspire others.When it comes to discussions about a Germa...
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World & Politics
Lithuania wants to become an energy exporter in 2050
By 2050, Lithuania aims to generate and utilize 74 trillion watt-hours of electricity and become a nation that exports energy, including hydrogen. According to BNS, these initiatives are included in Lithuania's Ministry of Energy's most recent...
London accuses beijing of cyberattacks on British institutions in 2021-22
Oliver Dowden, the deputy prime minister of Britain, stated on Monday that two significant cyberattacks on the country in 2021 and 2022 were carried out by organizations with ties to China. Speaking in the House of Commons of the British parliament,...
UN calls 2023 the hottest year in the history of observations
A report of the World Meteorological Organization (WMO) states that 2023 has become the warmest year in the history of UN observations. In his remarks on the report, UN Secretary General António Guterres noted that "some indicators are not just the...
UN: At least 1.1 million people in Gaza are at risk of starvation
In the Gaza Strip, at least 1.1 million people are in danger of starvation because they have run out of food, said UN Secretary General António Guterres in a New York discussion with the media regarding the Gaza conflict. Experts on food insecurity,...
Management & Strategy
Shell's head earns over $10 mln in 2023
The company reported that Wael Sawan made a total of 7.94 million pounds ($10.1 million) in his first year as Shell's CEO. Sawan receives a basic pay of 1.4 million pounds, an annual bonus of 2.7 million pounds, and a bonus of 2.6 million pounds in...
US pharma company AbbVie changes CEO
Board of directors of the US pharmaceutical giant AbbVie voted in favor of elevating Robert Michael, current president and chief operations officer, to the position of CEO. Richard Gonzalez, the current CEO, has held the role since the company's...
IBM demands managers in the US go back to working in offices
According to Bloomberg, which cites an internal company document, International Business Machines Corp. (IBM) has mandated that its managers in the United States resume working in offices. Even if they are permitted to work from home, managers are...
JPMorgan to reorganize business and change senior management team
US bank JPMorgan Chase & Co announced senior management changes and a corporate reorganization. According to a press release from the bank, Troy Rohrbaugh, co-head of Markets and Securities, and Jennifer Piepszak, co-head of Consumer and...
Most Popular
Chevron to set up hydrogen production using solar energy
03/04/2024
WSJ: The world will soon experience second "China Shock" with abundance of cheap goods
03/04/2024
India's October-December GDP growth accelerates to 6-quarter high
03/01/2024
Nigeria demands $10B in compensation from Binance
03/04/2024
European Commission fines Apple more than €1.8 billion
03/05/2024
Innovation & tools
Innovation & Tools
Apple to integrate Google's AI model into iPhone
Mercedes-Benz is testing humanoid robots at a factory in Hungary
European Parliament approves world's first law to ban unacceptable use of AI
OpenAI unveils AI system for creating video from text
Discovery
Discovery
Bloomberg lists key economic risks for 2022
Researchers: LEGO sets are better investment than gold and bonds
Expert: Fertilizers shortages could cause famine in the world's poorest countries
OIV: Global wine production will be extremely low in 2021
Reuters: China uses Australian coal despite refusing to import it
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