Tag: Business
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American Airlines slashes 2026 earnings outlook as fuel costs spike
American Airlines further cut its 2026 earnings outlook, citing higher fuel costs.
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China’s Geely to make EVs at Ford plant in Spain under new joint venture
Ford and Geely plan for the joint venture will begin operations in the first half of 2027, with the first new vehicles scheduled to roll off the line in 2028.
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Eli Lilly says it will file for approval of next-generation obesity drug in 2027 as it clears two more trials
There are now positive results from five late-stage trials on retatrutide, which Lilly is positioning as the next pillar of its obesity portfolio.
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Tesla’s once-bullish tone on robotaxis shifts
LOS ANGELES, July 23 : A year ago, Tesla CEO Elon Musk said the company’s robotaxi network would expand at a “hyper-exponential rate” and be available to half the population of the U.S. by the end of 2025.On Wednesday’s earnings call, Musk and his executive team struck a more guarded tone as they fielded anal
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Cryptocurrency exchange BitMEX to shut down
July 23 : Cryptocurrency exchange BitMEX said on Thursday that it will shut down its operations, effective September 23, and said that users’ assets remained safe and under their control. The owner and operator of BitMEX, HDR Global Trading, made the decision as part of a strategic review of the business, th
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Russia’s Amazon-style retail giant Wildberries is now in Ukraine’s crosshairs. Here’s why
Ukraine has ratcheted up its attacks on Russia’s Amazon-style retail giant Wildberries, signaling a new phase in the war.
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Dollar hits fresh 40-year high versus yen, edges down against euro
July 23 : The dollar edged lower against the euro ahead of the European Central Bank’s policy meeting on Thursday and reached a fresh 40-year high versus the yen, as investors remained focused on the escalating conflict in the Middle East.Oil prices rose for a fifth day on Thursday amid attacks on tankers in
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STMicroelectronics profit misses estimates, shares fall 14%
July 23 : STMicroelectronics reported second-quarter core profit below market expectations and forecast third-quarter revenue slightly below analyst estimates on Thursday, sending its shares down 14 per cent.The results disappointed investors betting on a faster recovery at the Franco-Italian chipmaker after
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Thailand works on $700 million EV plan to replace 80,000 vehicles
BANGKOK, July 23 : Thailand is reviewing a 24 billion baht ($714 million) plan to help replace up to 80,000 ageing transport vehicles with EVs and evaluating whether it should be extended to cover all electric vehicle purchases as part of its energy-transition efforts. The replacement of tens of thousands of
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Besi orders more than double as AI and hybrid bonding tech drive demand
July 23 : BE Semiconductor Industries (Besi) on Thursday reported quarterly orders significantly above last year’s level, fuelled by strong demand for AI, hybrid bonding, photonics and data centres.Investors are betting on rising demand for Besi’s hybrid bonding solutions, a chip-packaging technology that ena
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