OpenAI has announced the establishment of its first office in Seoul, marking a significant step in its global expansion strategy. The move comes as South Korea emerges as one of the most active markets for the company’s flagship product, ChatGPT. According to OpenAI, South Korea ranks second only to the United States in terms of paid ChatGPT subscriptions. This growing user base has prompted the company to formalize...

Bayer shares advanced on the Frankfurt Stock Exchange after receiving a key endorsement from the European Medicines Agency (EMA) for its eye drug Eylea. The EMA’s Committee for Medicinal Products for Human Use (CHMP) issued a positive opinion supporting the use of an 8 mg dose with extended treatment intervals of up to six months. This update applies to two serious retinal conditions: neovascular (wet) age-related macular degeneration...

Oil prices surged on Wednesday following reports that Israel may be preparing for a military strike on Iranian nuclear facilities, according to new U.S. intelligence cited by CNN. The news sent Brent crude above $66 per barrel, while West Texas Intermediate (WTI) rose as much as 3.5% before easing slightly. The potential for conflict has reignited concerns over stability in the Middle East, a region that supplies roughly...

Deere & Company announced impressive second-quarter earnings on Monday, exceeding market expectations despite lowering the lower end of its full-year net income forecast due to challenging market conditions. Following the announcement, the agricultural equipment maker’s stock saw a modest 1% increase. Despite a 21% year-over-year decline in sales within its Production & Precision Agriculture segment, Deere maintained robust operating margins across its key divisions. John May, chairman and...

Meta Platforms, a global technology company, is facing potential legal action from Austrian advocacy group NOYB over its plan to use European users’ personal data to train its AI models. NOYB, led by privacy activist Max Schrems, has announced its intention to seek an injunction against Meta, arguing that the company’s approach could lead to substantial claims if it proceeds with its data collection strategy. Meta plans to...

Ryanair, Europe’s largest low cost airline, has reported a 16% decline in annual profits, attributing the drop to a 7% decrease in ticket prices despite a 9% increase in passenger traffic, reaching a record 200 million passengers. The airline’s revenue grew 4% to €13.95 billion, but the company remains cautious about providing financial guidance for the upcoming year due to geopolitical risks, macroeconomic uncertainties, and potential tariff wars....

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...

FedEx (FDX) shares saw a notable increase on Tuesday following the announcement of a new collaboration with Amazon.com (AMZN) for last-mile delivery services. FedEx shares were up at in premarket trading, building on a gain from Monday. Shares of United Parcel Service (UPS) also benefited, since the November 5 election, largely due to concerns over high tariffs advocated by President Donald Trump, which typically negatively impact shipping volumes....

Gold futures experienced a significant drop as the United States and China reached an agreement to substantially lower tariffs, boosting risk-on sentiment in the markets. Continuous gold futures on the New York Mercantile Exchange fell by 3.6% to $3,223.80 per troy ounce during European morning trading, marking the lowest level since May 5. Despite this decline, gold remains up over 20% year to date, driven by safe haven...

The semiconductor industry has seen impressive growth in recent years, with companies like Nvidia, Broadcom, and Taiwan Semiconductor Manufacturing Company (TSMC) capitalizing on key market trends. Nvidia, for instance, has surged forward with its advanced graphics processing units (GPUs), which play a critical role in training artificial intelligence models. Meanwhile, Broadcom has solidified its standing by supplying vital network infrastructure to data centers and assisting businesses in custom...

BYD, China’s leading automaker, has set an ambitious target to sell half of its vehicles outside China by 2030. This expansion strategy focuses on Europe and Latin America, driven by the company’s rapid growth in its home market, where it sold 4.27 million vehicles last year. Despite facing significant trade barriers in the U.S. and tariffs in the EU, BYD is determined to establish a strong global presence....

Palantir Technologies’ stock tumbled today despite surpassing first-quarter expectations and raising its full year guidance, as concerns over its lofty valuation weighed on investor sentiment. Despite a 60% year to date surge, analysts warn that Palantir’s price to earnings ratio remains extraordinarily high, reflecting expectations of sustained 30-40% annual revenue growth over the next five years. The company currently trades at 64 times projected 2026 sales, far exceeding...

In the latest quarter, Ahold Delhaize, reported a revenue increase of 7% to €23.3 billion compared to the same period last year. However, profit margins were slightly lower. The company’s American supermarkets, which include Stop & Shop and Food Lion, saw significant price reductions, leading to increased sales but reduced profit margins. The net profit for the quarter was €554 million, with the average profit margin in the...

Netflix shares declined following President Donald Trump’s announcement of a 100% tariff on foreign-produced films, introducing uncertainty for the streaming giant’s global content strategy. Netflix frequently films productions in international locations such as Canada and the United Kingdom to take advantage of financial incentives and cost efficiencies. The proposed tariffs could potentially increase expenses, raising concerns about content budgets and profitability. Market reaction was swift, with Netflix stock...

Warren Buffett is set to step down as CEO of Berkshire Hathaway at the end of 2025, marking the end of his legendary six-decade tenure. Vice Chairman Greg Abel will take over leadership, with Buffett remaining as chairman. The announcement led to a sharp decline in Berkshire Hathaway shares, with Class B shares falling over 5%, erasing billions in market value. Investors remain uncertain about how the conglomerate’s...

Starbucks is navigating a tough business landscape as it works to revitalize its brand under CEO Brian Niccol. The global coffee chain has reported a decline in comparable sales for the second quarter of 2025, reflecting a 1% drop in global same-store sales and heightened challenges in its North American market. Niccol has implemented the “Back to Starbucks” strategy, focusing on reducing service times, enhancing customer experience, and...

Spotify has reported remarkable growth in the first quarter of 2025, with significant increases in both subscriber numbers and revenue. The number of premium subscribers reached 268 million, reflecting a 12% increase compared to the same period last year. Additionally, the streaming platform achieved substantial profit growth during the first three months of the year. Revenue for the quarter rose by 15%, amounting to €4.2 billion, supported by...

Nissan Motor Company is grappling with escalating financial losses, projecting a deficit of 750 billion yen (approximately 4.62 billion euros) for the fiscal year ending March. This figure represents a stark increase compared to the previously estimated loss of 80 billion yen. The automaker attributes this financial strain to intensified market competition and an aging lineup of vehicles, forcing the company to rely heavily on discounts to stimulate...

Unilever has kicked off 2025 with encouraging progress, reporting a 3% rise in underlying sales for the first quarter compared to the same period last year. Key brands, such as Dove, demonstrated strong performance, with sales climbing more than 8%. However, the company faced a slight dip in turnover, down 0.9% to €14.8 billion, influenced by net disposals and currency fluctuations. The first quarter update comes under the...