More than $1 trillion in market capitalization was lost by U.S. tech giants in trading after the Federal Reserve raised interest rates. U.S. tech giants have lost over $1 trillion in market value over the past three trading days - May 5, 6 and 9. The sell-off began after the Federal Reserve decided...

Swedish car manufacturer Volvo Cars is suspending production at its plant in Torslanda in southern Sweden due to problems with the supply of semiconductors, the Göteborgs Posten newspaper reported. It is noted that the halt will last from Tuesday to Friday because of problems with the supply of...

The European Union executive aims to accelerate the bloc's green transformation and reduce its dependency on Russian resources by permitting some renewable energy projects to acquire permits within a year, said reports quoting information from a draft documents.   Brussels will...

During a long-running auditing stalemate between the US and China, the US Securities and Exchange Commission (SEC) has added more than 80 companies to a list of entities facing probable expulsion from American exchanges, including China's JD.com.   The SEC enlarged a...

Netflix shareholders filed a class action lawsuit against the company on Wednesday, accusing its management of providing false information about the reality, Axios writes. According to it, the lawsuit, filed in a San Francisco, California court, alleges that Netflix "concealed slower subscriber...

According to a private indicator, activity in China's services industry plummeted to its lowest level in April since the epidemic began in early February 2020, as rising steps to combat the virus put severe strain on consumer demand. Caixin Media Co. and research firm Markit computed China's supply...

Boohoo, a British online clothes retailer, announced a 28 per cent drop in yearly core earnings, owing to high freight and logistics cost inflation, and warned that pandemic-related external variables will continue to have an impact this year.   The company reported on Wednesday that...

The after-tax profit of Europe's largest carmaker, the Volkswagen Group, doubled to €6.724 billion in the first quarter compared with the same period last year, the company said in its financial statements. Operating profit for the reporting period was €8.453 billion, up 1.8 times year on year....

Norwegian oil and gas group Equinor (formerly Statoil) reported net profit of $4.714 billion in the first quarter of 2022, 2.5 times higher than in the same period last year, the company says. Diluted earnings per share were $1.46, compared with $0.57 a year earlier. Revenue rose 2.2 times to...