Business & Finance
General Motors To Import High End Cars To Woo China's Urban Rich
Sales of General Motors' premium Buick, Cadillac, and Chevrolet brands have decreased by a third to 1.3 million vehicles annually over the past five years as consumers prefer smart EVs produced by domestic companies like Xpeng, Nio, and BYD. According to executives at the American...
Study Reveals That G7 Company Emissions Fall Short Of The Global Climate Goal
Based on current corporate pledges to reduce emissions, the Group of Seven (G7) economies' businesses are failing to meet the goals of the Paris Climate Agreement, according to non-profit disclosure platform CDP and global management consultancy Oliver Wyman on Tuesday. As part of the...
Lufthansa to hire 20,000 new employees by the end of 2023
By the end of 2023, the airline wants to hire 20,000 people, according to Carsten Spohr, CEO of Lufthansa. In addition to 12,000 new hires for open positions, another 8,000 new hires will take places of departing workers and retirees. Like many other airlines, Lufthansa made layoffs during the...
With New China AI Chip Restrictions, The US Targets A Critical Market Niche
The US increased its efforts to halt the flow of advanced technology to China by instructing Nvidia Corp. and Advanced Micro Devices to stop sending their flagship artificial intelligence chips to the country. While the news shocked the chip sector, sending the Philadelphia semiconductor...
Losses of largest Chinese airlines grow to €7B in 6 months
Le Figaro writes that the first half of the year brought a combined loss of about €7 billion for the three biggest airlines in China – China Southern Airlines, China Eastern Airlines, and Air China. China Southern Airlines, the carrier with Asia's largest fleet, reported a net loss of 11.4 billion...
Amazon And Google Criticize Microsoft's Cloud Computing Changes
On Tuesday, Amazon and Alphabet subsidiary Google slammed Microsoft's cloud computing changes, claiming they limit competition and discourage customers from switching to rival cloud service providers. The software behemoth announced amended licensing deals and other changes on Monday that...
Bed Bath & Beyond Will Lay Off Workers And Close Stores In An Effort To Recoup Losses
Bed Bath & Beyond Inc announced on Wednesday that it had secured more than $500 million in new financing and that it would close 150 stores, lay off employees, and revamp its merchandising strategy in an effort to turn around its money-losing business. However, investors are concerned...
German Uniper is losing €100M a day due to growing gas prices
In addition to the €9 billion that the firm has already spent, the German energy giant Uniper has asked the state development bank (Kreditanstalt für Wiederaufbau, KfW) to increase its credit line by an additional €4 billion. This information was posted on the organization's website. The...
Saudi Arabia Could Reduce Crude Oil Prices For Asia In October
Saudi Arabia, the world's largest oil exporter, may reduce October prices for most crude grades it exports to its Asian customers, following a drop in spot premiums as reduced demand for fuel and rising arbitrage cargoes has pressurised prices of oil in the region. ...
With Productivity Falling, Companies In North America Purchase More Robots For Production
During the first half of the current year, a record number of robots were purchased by North American firms even as the companies struggled to keep factories and warehouses running because of an extremely tight labor market and increased compensation costs. ...
