The badge of a Ford Motor Co. E-Transit electric vehicle during a presentation in Washington, D.C., U.S., on Wednesday, July 28, 2021. Al Drago | Bloomberg | Getty Images Ford Motor said Thursday its electric vehicle business lost $2.1 billion last year on an operating basis, …
On Thursday, Credit Suisse announced measures to bolster its liquidity by securing up to $54 billion from Swiss National Bank. The decision followed a steep 30% drop in the bank’s shares, increasing concerns about the banking sector’s deposit crisis. Regulators and financial leaders temporarily stabilized markets …
Volkswagen recently announced plans to invest $193 billion to make every fifth vehicle it sells electric by 2025. More than two-thirds of the money will go toward software, battery factories, and other investments. At a Tuesday media event, the New York Times reports that Arno Antlitz, …
The majority of Indian conglomerate Adani Group’s stocks fell on Monday as the company’s investor roadshow tour to appease investors kicked off in Asia, following after a short seller attack back in January. Shares in flagship firm Adani Enterprises 512599, -9.17% fell over 9% in Mumbai, …
(Bloomberg) — Baidu Inc. announced a $5 billion share buyback after reporting better-than-expected revenue, reflecting how its cloud computing service is offsetting an advertising lull during China’s economic downturn. Most Read from Bloomberg Its shares gained 6% in pre-market US trading. Sales held steady at 33.1 …
More than $160 billion in tax revenue is lost every year because the top 1% finds ways to avoid paying “their fair share,” according to academic research cited by the Treasury Department. What tactics, though, do uber-wealthy people use to avoid the taxes? It turns out that not only …
(Bloomberg) — Warren Buffett slashed his holding of Taiwan Semiconductor Manufacturing Co. just months after disclosing a major stake, an unusually quick reversal by the legendary stock picker that’s chilling investor sentiment toward the chip giant. Most Read from Bloomberg Buffett’s Berkshire Hathaway Inc. cut its …
The mouse is about to clean house. That was the message heard loud and clear at Disney CEO Bob Iger’s first earnings report since he came out of retirement to head up the global entertainment company. In a bombshell call with analysts, Iger announced a sweeping …
(Bloomberg) — Newmont Corp. has offered to buy Australia’s Newcrest Mining Ltd. in a $17 billion deal that would strengthen the US mining powerhouse’s position in copper and gold. Most Read from Bloomberg The takeover, if completed, would be the largest globally so far this year …
