Shell has announced plans to thoroughly review its chemical operations worldwide as part of a broader strategy to enhance profitability. This initiative could lead to partial or complete closures of underperforming chemical divisions in Europe. In the Netherlands, Shell operates significant chemical facilities in Moerdijk and Pernis, producing essential raw materials for products ranging from plastics to polyester for clothing. However, the company has not disclosed the potential...

In an exciting development, Walmart has joined forces with JPMorgan Chase to enhance payment processes for merchants operating on its online marketplace. This partnership leverages JPMorgan’s advanced systems to improve cash flow management while enabling merchants to seamlessly accept and make payments. Walmart’s marketplace has seen rapid growth, offering over 700 million products from 100,000 sellers across various categories such as beauty, electronics, and home furnishings. The platform...

Chinese electric vehicle manufacturer BYD achieved significant milestones in 2024, rivaling Tesla in electric car sales and surpassing the American automaker in revenue. BYD sold approximately 1.8 million electric vehicles last year, matching Tesla’s sales figures, and delivered a total of 4.3 million vehicles, which includes hybrid models. The company’s revenue crossed the $100 billion mark for the first time, reaching an impressive 777 billion yuan ($107 billion)....

AstraZeneca has announced a significant $2.5 billion investment in establishing a new research center in Beijing, marking a major commitment to China’s burgeoning life sciences sector. The hub, developed in collaboration with the Beijing government, will focus on early-stage research and the integration of artificial intelligence in drug discovery. This initiative also includes partnerships with biotechs and a hospital, further emphasizing AstraZeneca’s strategy to tap into China’s innovative...

Under the leadership of CEO Elliott Hill, Nike is making significant strides to address market challenges. While most express optimism regarding Hill’s ability to steer the company, they caution that the growth rates seen in the past decade may be difficult to replicate given Nike’s current market valuation of $108 billion. Hill aims to refocus on core sports offerings, moving away from trends that deviated from the brand’s...

Apple needs to improve the compatibility of its devices with third-party products to ensure fair competition and support innovation. These regulations mandate that non-Apple products, such as smartwatches, headphones, and televisions, should integrate smoothly with iPhones, just like Apple’s own devices. In particular, the EU has asked Apple to provide better access to essential iPhone features, such as notifications and NFC (near-field communication) for contactless payments. Additionally, the...

Samsung Electronics Co. has announced ambitious plans to reinforce its presence in the high-bandwidth memory (HBM) chip market in response to growing criticism regarding its performance in artificial intelligence-related technologies. Jun Young-hyun, the newly appointed co-CEO and head of the chip division, outlined strategies during the company’s shareholder meeting, signaling a drive toward innovation and market recovery. Samsung plans to launch enhanced 12-layer HBM3E chips by the second...

German automaker Audi has reported a significant financial setback, with its net profit plunging by one-third over the past year. The luxury car brand, part of the Volkswagen Group, has been grappling with declining sales across Europe and increased competition from more affordable Chinese vehicles gaining traction in the market. The company’s revenue dropped nearly 10%, resulting in a net profit of €4.2 billion. To address these challenges,...

Alphabet’s Google announced an expanded collaboration with Reddit, addressing challenges faced by the social media platform due to its dependence on Google Search for traffic. This partnership arrives as analysts raise concerns about Reddit’s vulnerability to changes in Google’s search algorithms, which have reportedly affected the platform’s daily active user (DAU) numbers. As part of the expanded partnership, Reddit will leverage Google’s Vertex AI, a platform enabling the...

BMW is bracing for a challenging 2025 as trade tariffs and shifting global trade dynamics continue to weigh on the automaker’s financial outlook. The company has allocated €1 billion ($1.09 billion) in provisions to address the economic strain caused by tariffs from the European Union and the United States, which include duties on its China-made electric vehicles. The carmaker has revised its automotive earnings margin to 5-7% for...

iRobot, a leader in consumer robotics, has recently announced significant concerns regarding its financial future, sparking a major decline in its stock value. In its latest earnings release, the company highlighted doubts about its ability to maintain operations, prompting the board to initiate a strategic review. This review will explore refinancing options, potential asset sales, and other measures to address iRobot’s financial difficulties. The company’s shares experienced a...

Tesla has experienced an 11% decline in US vehicle registrations for January, dropping to 43,411 units compared to the same period last year. Despite maintaining a leading 42.5% share of the US electric vehicle (EV) market, this figure represents a 12-percentage-point drop from the prior year, as reported by S&P Global Mobility. Total EV registrations across the US rose 14% in January, highlighting increasing competition from automakers like...

Alibaba Group Holding Ltd. has introduced a cutting-edge artificial intelligence model, aiming to secure a leading position in the competitive AI market. The model, developed by Alibaba’s Tongyi Lab, is designed to interpret human emotions through video analysis, while also providing insights into clothing and surroundings. This innovation represents an enhanced version of the lab’s earlier HumanOmni model. In addition to offering this model as an open-source tool...

The Netherlands, alongside eight other European Union countries, has initiated a collaboration to bolster the continent’s semiconductor industry. The coalition, termed the “Semicon Coalition,” includes Belgium, Germany, Finland, France, Italy, Austria, Poland, and Spain. This announcement was made during a meeting in Brussels, marking a significant step toward enhancing Europe’s role in chip production. Semiconductors, commonly known as chips, are increasingly indispensable in modern technology, powering devices ranging...

Oracle Corporation recently announced its fiscal third-quarter financial results, revealing a mixed performance for the period. The company reported a 6% increase in sales, reaching $14.1 billion, though this fell short of analysts’ expectations of $14.4 billion. Additionally, revenue from Oracle’s cloud infrastructure also missed projections. Following the announcement, Oracle’s stock experienced a decline, dropping as much as 7.5% after the markets opened. This marked its lowest level...

Meta Platforms Inc., known for its ownership of Facebook, Instagram, and WhatsApp, is heavily investing in artificial intelligence (AI) infrastructure. The company has projected its 2025 expenses to fall between $114 billion and $119 billion, allocating up to $65 billion for AI-related developments, including custom chip production. As part of its Meta Training and Inference Accelerator (MTIA) series, Meta has developed a new AI training chip in collaboration...

Apple Inc. is encountering significant challenges within its AI division, leading to delays in updating the Siri digital assistant. Originally planned for the iOS 18.4 update in April, the new features that where introduced last June, which include Siri’s ability to use personal information for queries and enhanced app control—are now expected to be released “sometime in the coming year.” Apple has been struggling to develop these features,...

Hewlett Packard Enterprise (HPE) saw its shares plummet by 20% in premarket trading on Friday after the company revealed that its annual profit outlook would be impacted by recently imposed U.S. tariffs. This setback comes as the AI-server manufacturer navigates an intensely competitive market. New tariff measures introduced by the U.S. government have complicated supply chains. A 25% duty now applies to aluminium and steel imports from Canada...