Nike has reported a decline in sales over the past three months and is warning of more setbacks to come. Sales of lifestyle items and classic sneakers such as the Air Force 1 have decreased more than anticipated. Additionally, sales in China have significantly dropped. The global revenue for the past three months amounted to over $12.6 billion, compared to $12.8 billion the previous year. Disappointing sales were...

In recent weeks, Exor, the Amsterdam-based investment company of the Italian Agnelli family, has significantly increased its stake in Philips. Exor now holds 17.5% of the shares, making it by far the largest shareholder in the medical technology company. A spokesperson for Exor confirmed the move, describing it as a sign of confidence in Philips’ management and the long-term prospects of the sector in which the Dutch company...

Elon Musk’s aerospace company, SpaceX, has been entrusted with the critical task of safely deorbiting the International Space Station (ISS) in the coming years. This contract, awarded by NASA, involves the development and construction of a deorbit vehicle designed to facilitate the controlled descent of the ISS from orbit, ensuring it burns up in the atmosphere. The primary method for deorbiting such a large complex involves decelerating the...

Microsoft is at risk of a hefty fine if it cannot address the European Commission’s antitrust concerns. The potential fine could reach up to 10 percent of the company’s global annual revenue, which underscores the seriousness of the situation. The controversy centers around Microsoft bundling its Teams communication software with its popular office software suites, which include Word, Excel, and Outlook. This bundling practice left customers without the...

Fast-charging company Fastned has successfully raised €32.9 million by issuing new bonds to private investors, the company announced after the market closed on Monday. These bonds, which come with a five-year term, offer an attractive 6% coupon rate. A significant portion of the funds raised, amounting to €12.3 million, came from existing investors who chose to extend the maturity of bonds they already held. This move highlights the...

Rheinmetall, one of Europe’s leading arms manufacturers, has achieved a new milestone with a record-breaking order valued at €8.5 billion. This significant announcement was made on Thursday through a statement on the company’s website. The order includes the supply of 155mm shells and various other caliber projectiles, with delivery scheduled for 2025. The countries participating in this extensive order are Germany, Estonia, Denmark, and the Netherlands. The primary...

Ferrari is poised to make a significant leap into the electric vehicle market, with its first all-electric car slated to start at a hefty price of €500,000. This information comes from sources reported by Reuters, highlighting Ferrari’s confidence in its ability to command premium prices even in the electric segment. The renowned Italian sports car manufacturer is on the brink of opening a new state-of-the-art factory designed specifically...

Ryanair, the Irish budget airline, reported a record profit last year despite delays in the delivery of new Boeings. The airline transported 184 million passengers in the past fiscal year, which runs from April to the end of March. This is nearly a quarter more than in the last year before the COVID-19 pandemic. This year, the company recorded a profit of 1.9 billion euros, a 34 percent...

Google will soon allow users to not only search but also ask questions and give commands, thanks to a new update. Artificial intelligence will handle answering these questions and performing tasks, according to the tech giant. This update is one of the most significant changes to Google’s search engine in the past 25 years. “You’ll soon be able to ask anything that comes to mind or needs doing,”...

Meta, the parent company of Facebook, has announced that it will discontinue Workplace, its enterprise-focused version of Facebook. The company has decided to shift its focus towards developing advanced AI technologies, which it believes will fundamentally transform the way people work. Users of Workplace will be able to use the service as usual until August 2025. Over the next two years, Meta will gradually phase out the service....

The U.S. Department of Justice is contemplating renewed prosecution of the aircraft manufacturer Boeing in connection with the two tragic crashes involving its 737 MAX aircraft in 2018 and 2019. These accidents, which claimed the lives of hundreds of passengers and crew members, occurred shortly after the 737 MAX was introduced, revealing critical flaws in the aircraft’s design and safety systems. Following extensive investigations into these crashes, Boeing...

Airbnb’s latest financial outlook paints a mixed picture, with a disappointing second-quarter revenue projection but promising prospects for the third quarter and beyond. The company’s announcement of an expected $2.7 billion in revenue for the period ending June fell short of market expectations, prompting a notable decline in its stock value after hours on Wall Street. However, the first quarter showcased Airbnb’s resilience and adaptability, with revenue exceeding...

In the wake of disappointing earnings and revenue figures, Starbucks finds itself grappling with a sharp decline in its stock value, plummeting by 12% in after-hours trading following the release of its fiscal second-quarter earnings report. The coffee giant’s performance fell short of both earnings and revenue expectations, with sales for the period totaling $8.6 billion, significantly below analysts’ projections of $9.1 billion. Net income painted a similarly...

Alphabet, the parent company of Google, has petitioned a judge in the United States to dismiss a case brought forth by American authorities. The accusation revolves around Alphabet’s alleged monopolization of the online advertising market, with the tech giant arguing that the prosecution lacks substantial evidence. Commencing last year, the lawsuit focuses on Google’s ability to command exceptionally high margins for online advertisements. Additionally, it is claimed that...

British pharmaceutical company GlaxoSmithKline (GSK) has filed a lawsuit against biotech firm BioNTech and pharmaceutical company Pfizer in the United States. GSK alleges that the two companies infringed on patents related to mRNA technology, which was used in the development of COVID-19 vaccines. The patents in question are GSK’s rights to technological innovations developed “more than ten years” before the COVID-19 pandemic, according to the British company. GSK...

The highly anticipated halving event of the cryptocurrency Bitcoin has concluded, marking a significant milestone in its monetary policy. This event, which occurs approximately every four years, plays a pivotal role in shaping the dynamics of Bitcoin’s supply and demand. During a halving, the rewards for Bitcoin miners—those who validate transactions and secure the network—are reduced by half. This mechanism is ingrained in Bitcoin’s protocol and serves the...