Coinbase’s stock experienced a significant drop of over 8% following two major developments that raised concerns about the company’s security and regulatory compliance. The US based cryptocurrency exchange revealed that cyber attackers had stolen sensitive customer data and demanded a $20 million ransom. Instead of paying the ransom, Coinbase CEO Brian Armstrong announced a $20 million bounty for information leading to the attackers’ arrest. The breach affected less...

Thyssenkrupp’s stock took a sharp dive on the Frankfurt Stock Exchange after the company reported disappointing quarterly results. The steel division, in particular, struggled, contributing to a notable drop in earnings. Despite these setbacks, the company remains committed to its financial targets for the fiscal year. In the second quarter, Thyssenkrupp experienced a decline in both orders and sales. The company’s operating profit also saw a significant decrease....

Saudi Aramco has projected that oil demand will remain strong throughout the year, with potential for additional growth if the ongoing US-China trade disputes are resolved. This forecast comes as both countries have temporarily reduced tariffs to mitigate the trade war’s global economic impact. During a post-earnings conference call, Aramco CEO Amin Nasser expressed optimism about the market’s trajectory. He noted that demand is expected to be steady...

Kraft Heinz is set to invest $3 billion to modernize its U.S. factories, marking its largest investment in a decade. Despite consumer sentiment being at its second lowest point in 70 years, leading to reduced sales and profit forecasts, the company is moving forward with this substantial upgrade. The enhancements aim to improve efficiency and reduce costs, helping to counteract the impact of tariffs imposed by President Donald...