Business News

The European Union has imposed a record-breaking $1.3 billion fine on Meta, the parent company of Facebook, for breaching the General Data Protection Regulation (GDPR) in its data transfer practices. This substantial penalty, the largest ever under GDPR, highlights the ongoing challenges tech giants face in handling European citizens’ data within the framework of stringent […]

Japan’s economy showed a strong recovery in the third quarter of 2024, posting significant growth bolstered by increased consumer spending and the favorable impact of a weak yen on exports. The growth marks a positive shift for Japan, which has faced prolonged economic stagnation and challenges posed by demographic shifts and a global economic slowdown.

China’s export sector faced a significant downturn in August, with exports dropping by 8.8% compared to the same month the previous year. This steep decline has raised concerns about the broader state of the global economy, as weaker demand from key trading partners like the United States and Europe underscores the challenges China faces amid

BP, one of the world’s largest oil companies, has made a significant move into the hydrogen energy sector by acquiring a major U.S.-based hydrogen producer. This acquisition reflects BP’s accelerating shift from fossil fuels to more sustainable energy sources, as it commits to leading the charge in the green energy transition. With the growing demand

Tesla Inc., the electric vehicle (EV) giant, saw its stock price soar following the company’s impressive third-quarter delivery figures and advancements in autonomous driving technology. The EV manufacturer exceeded Wall Street expectations with its Q3 results, marking a positive turn for the company amid broader economic uncertainty and competition in the automotive sector. Tesla’s stock

HSBC announced a significant organizational overhaul, aiming to simplify and streamline its operations. The restructuring consolidates HSBC into four business divisions: Hong Kong, U.K., international wealth and premier banking, and corporate and institutional banking. This change is designed to reduce redundancies and enhance decision-making agility. Additionally, Pam Kaur has been appointed as HSBC’s first female

Morgan Stanley, one of the leading global financial institutions, recently posted impressive quarterly earnings, which exceeded market expectations, triggering a stock surge of over 8%. The firm’s strong performance comes amidst volatile market conditions and rising concerns about interest rates, showcasing its robust adaptability and strategic foresight. Highlights of Morgan Stanley’s Earnings Morgan Stanley reported

United Airlines recently made headlines by announcing its first share buyback program since 2020, signaling renewed confidence in its financial position. This move comes on the back of strong quarterly earnings that exceeded analysts’ expectations, causing the company’s stock to jump by nearly 9%. Key Financial Performance In the third quarter of 2024, United Airlines

Saudi Aramco, the world’s largest oil company, is making significant strides towards diversifying its operations and expanding into renewable energy, a crucial part of the kingdom’s Vision 2030 initiative. The state-owned oil giant is looking to invest heavily in carbon-neutral solutions, reducing its reliance on traditional fossil fuels and playing a leading role in the

In a bold move to expand its digital presence, luxury fashion house Gucci has partnered with technology giant Microsoft to explore the rapidly growing world of the metaverse and digital collectibles. This collaboration marks a significant milestone in the intersection of high fashion and cutting-edge technology, as Gucci seeks to blend its iconic design legacy