Despite a supply decrease, Samsung Electronics' June-quarter earnings is anticipated to fall 96% year on year to the lowest for any quarter in more than 14 years, as a chip oversupply continues to generate big losses in the tech giant's cash cow industry.   According to a Refinitiv...

One of China's most well-known streaming services, Tudou, and Chinese online retailer Alibaba are revising their business strategies for its video services Youku and Tudou, reports Bloomberg citing sources. They claim that the management of the group may give these assets to the movie studio...

The latest quarter saw an 83% increase in Tesla shipments to market with record sales of more than 466,000 electric vehicles. Tesla's global shipments grew by 83% in the second quarter of 2023 thanks to steep drops in electric car prices and large sales incentives. The Wall Street Journal notes...

The upcoming initial public offering (IPO) of Renault Group's Ampere electric vehicle division has been postponed. Thierry Pieton, the company's CFO, made the declaration at a conference to update its 2023 financial projection. “We anticipate the Ampere spin-off to be finalized in the second half...

According to Oracle Corp. founder and chairman Larry Ellison, the company is investing "billions" of dollars in Nvidia Corp. chips as it grows a cloud computing service aimed at a new generation of artificial intelligence (AI) startups.   The cloud subsidiary of Oracle is attempting to gain...

The Munich court sentenced former Audi CEO Rupert Stadler to 21 months in prison with a suspended sentence for fraud. Mr. Stadler was also fined €1.1 million, with the money going to the state treasury and charitable groups. The court reached this conclusion while hearing the case involving...

Following a scandal involving the misappropriation of secret government tax plans, PwC Australia has announced that it will sell its government business for A$1 (50p). The country's new top executive has also been named, according to the accounting behemoth.   The decision will enable the...

Cathay Pacific, the flag carrier of Hong Kong, provided passenger traffic data for May and stated that it anticipates making a profit for the first half of the year. The carrier, which was forced to ground the majority of its aircraft during the pandemic and incurred unprecedented losses as a...

As demand for EV batteries for the first time surpasses other applications for the mineral due to increasing EV sales, automakers, including Tesla and Mercedes, are scrambling to lock in graphite supply from outside dominating producer China.   Despite the fact that graphite is the largest...