Business News Stories
Oil set for weekly gain on supply risks and shrinking US crude stockpiles
Oil prices rose on Friday and were on track to record a weekly gain amid a surprise drop in US crude stocks and persisting Middle East supply risks a market awaits key US inflation data. Brent, the benchmark for two thirds of the world’s oil, climbed 0.43 per cent to $89.39 a barrel at 2.35pm UAE...
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Best Growth Stocks to Buy in 2024
Investing in growth stocks can be a lucrative strategy for building wealth over time. These stocks are known for their ability to outperform the market and generate significant returns for investors. However, not all growth stocks are created equal, and it’s important to do your research...
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ByteDance prefers TikTok shutdown in US instead of selling it: Report
TikTok owner ByteDance would prefer to shut down its app rather than sell it if the Chinese company exhausts all legal options to fight legislation to ban the platform from app stores in the U.S., four sources said. The TikTok app is displayed on an iPhone screen in Miami, Florida. US president Joe...
photo: Creative Commons / Pixabay/ Lorendiz Gonzalez
Microsoft, Google post double-digit profits rises, boosting case for AI
Google and Microsoft have reported double-digit profit increases, buttressing the case for the tech giants’ heavy investment in artificial intelligence (AI). The quarterly results announced on Thursday by Google parent Alphabet and Microsoft came in ahead of expectations, sending their shares 11...
photo: Creative Commons / photo by Mojahid Mottakin on Unsplash
Metaverse Loses $4 Billion, Facebook Stock Tumbles
Facebook owner Meta registered nearly $4 billion in losses for its metaverse and AI research wing in the...
photo: AP / Eric Risberg
Wall Street Reacts as Meta Announces Ways It Will Be Draining Funds on AI Projects
Most part of Meta’s earnings call session was focused on the ways how the company will spend money, which was not taken well by investors. Mark Zuckerberg started the session with his confidence and ambitions of artificial intelligence, and then he slowly shifted his talk to the metaverse and...
photo: AP / Tony Avelar
A brutal elimination round is reshaping the world’s biggest market for electric cars
A “life and death race” has begun to unfold in the world’s largest market for electric vehicles (EV). Chinese EV makers showing off their newest models at Auto China, which kicks off in Beijing on Thursday, have enjoyed generous support from the government for years, with some growing rapidly to...
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Tesla profit plunges 55%, as shares bounce on plans for cheaper vehicles
Tesla reported a 55 percent drop in profit amid fierce competition in the electric vehicle market, but shares rallied on plans to accelerate the production of more affordable models. The Austin, Texas-based company on Tuesday reported profits of $1.1bn in the first quarter, down from $2.51bn a year...
photo: AP / John Locher, File
Silent and brooding, Trump endures courtroom ordeal
Donald Trump sat in a New York courtroom yesterday watching history unfold, a glum witness to his own turn as the first US president to face criminal prosecution. Most court proceedings are deliberate, scripted and glacial - tedious for any observer to sit through, let alone a brash real estate...
photo: Angela Weiss/Pool Photo via AP
Hybrid Work Needs a Workplace Value Proposition
Why do people come to the office? And how can leaders make that time as meaningful and productive as possible? These questions are more urgent than ever with the majority of office workers now having some degree of hybrid flexibility. Today, 54% of remote-capable workers are working hybrid and...
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