Business News
Tesla and several Chinese automakers are initiating a significant recall of over 4 million vehicles due to safety issues primarily associated with their door handles, as reported by Chinese authorities on Friday. The US carmaker is recalling approximately 2.98 million
Walmart fell short of quarterly comparable sales estimates for the first time in at least five years on Thursday, highlighting the impact of increasing fuel costs on consumer spending and leading to an 8% decline in its shares during early
Anthropic PBC is poised to include Citigroup Inc. among the banks involved in its initial public offering, as informed sources indicate, while Wall Street competes for positions in the artificial intelligence firm’s market entry. The bank would align itself with
Nestle is aiming to transform the emergence of GLP-1 weight-loss medications from a potential challenge into a lucrative business prospect. The company is leveraging artificial intelligence and nutritional science to create products targeted at the millions of consumers utilising medications
Alibaba Group Holding Ltd. is divesting its gaming division in a transaction valued at a minimum of $1.5 billion, which will enhance the Chinese e-commerce leader’s transition toward artificial intelligence. Asian private equity firm Trustar Capital has finalised an agreement
SpaceX has finalised a $60 billion acquisition of the artificial intelligence coding startup Cursor, which is a crucial element in Elon Musk’s strategy to enhance competitiveness against rivals Anthropic PBC and OpenAI. The deal became effective on Aug. 14, as
China’s Lenovo Group reported a 43% increase in quarterly revenue on Thursday, surpassing forecasts and propelling shares up as much as 22%. The world’s largest computer maker is capitalising on an AI hardware boom while also benefiting from a global
In an effort to raise over $500 billion in third-party funding over time for the development of artificial intelligence infrastructure, Nvidia announced on Monday that it is partnering with six significant financial institutions to create independent compute finance platforms. The
Warner Bros Discovery fell short of second-quarter revenue expectations on Thursday, impacted by disappointing box-office performance and weak advertising sales attributed to the lack of National Basketball Association games. Studio revenue declined by 39 percent, with releases such as Mortal
Uber Technologies projected that its adjusted earnings for the current quarter (Q3) would fall short of Wall Street expectations on Wednesday, citing that foreign exchange impacts would dampen bookings growth. The company also reiterated its commitment to significant investments in
