BUSINESS

Meta on Wednesday reported profit of $13.5 billion in the recently ended quarter, beating market expectations and causing its share price to jump.

Samsung Electronics Wednesday reported its fastest growth since 2010, with operating profits soaring for the second quarter, as chip prices bounce back and demand for generative AI continues to grow.

Starbucks reported lower profits Tuesday behind broad-based sales declines, but shares rose as the company said a turnaround was on track.

Microsoft on Tuesday reported strong quarterly earnings but saw its shares slip on figures showing its crucial cloud computing unit did not grow as strongly as expected.

Britain's Labour finance minister Rachel Reeves declared Monday that the public finances face an extra GBP22-billion hole inherited from the previous Conservative administration and warned of "difficult decisions" ahead to cut spending or hike taxes.

All three of the chain's operating regions experienced comparable sales declines, a significant weakening next to the year-ago results when global comparable sales jumped nearly nine percent.

Spain's competition watchdog said Tuesday it had slapped online travel agency Booking.com with a record 413-million-euro fine for "abusing its dominant position" during the past five years.

The French economy -- the eurozone's second biggest after Germany -- expanded by 0.3 percent in the second quarter, outperforming the INSEE statistics institute's earlier estimate of 0.1 percent

Beijing is racing to achieve its goal of five percent annual growth in 2024, a target considered ambitious by many experts as the world's second-largest economy faces headwinds including an indebted real-estate market, flagging consumption and high youth unemployment.

BP said increased volume and lower exploration write-offs were "partly offset by increased depreciation charges and higher costs".

Ethiopia said Monday it is easing foreign exchange curbs as part of a broader economic reform package, as the deeply-indebted nation awaits a multi-billion dollar bailout from international lenders.

Under this partnership, Masdar will acquire 48 operational solar plants with a total capacity of 2GW. Endesa and Masdar also plan to add 0.5GW of battery energy storage systems (BESS) to these projects.

For Hamed al-Rafidain, a Saudi human resources worker, an electric vehicle offers welcome savings, especially since his other car is a fuel-guzzling four-wheel drive favoured by motorists in the desert kingdom.

The EU launched an investigation on Tuesday to determine whether online food-delivery companies Delivery Hero and Glovo engaged in anti-competitive practices.

Semiconductor shares were among the big winners Monday, rebounding from recent weakness as US stocks climbed ahead of major earnings and economic data later this week.

Delta Air Lines struggled on Monday with lingering effects from a global IT outage, canceling hundreds more flights than US aviation rivals.

Stock markets diverged and the dollar dropped Monday as Joe Biden's decision to drop out of the US presidential race fuelled fresh uncertainty.

Over the next two weeks, the quarterly results of Big Tech giants will offer a glimpse on the bankability of artificial intelligence and whether the major investments AI requires are sustainable for the long haul.

China's leadership vowed Thursday to resolve "risks" plaguing the economy, state media said, but were yet to offer any concrete steps to pull the country out of its financial woes.

Taiwan chip giant TSMC said Thursday net profit jumped by more than a third in the second quarter of 2024, buoyed by global demand for generative artificial intelligence products.

Tens of thousands of Boeing hourly workers have been called Wednesday for a vote in Seattle expected to authorize a potential labor strike if ongoing contract negotiations stumble.

HSBC on Wednesday named chief financial officer Georges Elhedery as the bank's next chief executive to drive "the next phase of development and growth".

Elon Musk on Tuesday said he will move the headquarters of SpaceX and X to Texas after a California law blocked schools from forcing teachers to notify parents about changes to a student's gender identity.

Cartier-owner Richemont said Tuesday its quarterly sales in China tumbled by 27 percent as the deepening economic malaise in the world's second-largest economy lashes luxury firms.

Braving loneliness, tough auditions and an unfamiliarly hot and humid climate, aspiring actor Guo Ting is determined to make it in China's answer to Hollywood.

China posted on Monday lower than expected growth in the second quarter, with all eyes on how top officials gathering for a key meeting in Beijing might seek to tackle the country's deepening economic malaise.

Tech billionaire Elon Musk's X platform is misleading users with its blue checkmarks for certified accounts, and is also violating EU content rules, Brussels said Friday, in a finding that could lead to hefty fines.

The EU on Thursday approved Apple's offer to allow rivals access to the iPhone's ability to tap-to-pay within the bloc, ending a lengthy probe and sparing it a heavy fine.

A union representing tens of thousands of workers at Samsung Electronics in South Korea said Wednesday it would extend a three-day strike indefinitely in a bid to force management to negotiate.