Nikola Corporation, the renowned American truck manufacturer specializing in electric and hydrogen-powered vehicles, has initiated a Chapter 11 bankruptcy filing in Delaware, as per recent court filings. This strategic move aims to allow Nikola the opportunity to restructure its operations while continuing its business activities. The company’s financial woes have been escalating due to prolonged periods of cash outflows exceeding inflows, compounded by disappointing sales figures. Further exacerbating...

Philips, the renowned Dutch technology conglomerate, has reported a significant milestone: an uptick in orders for the first time in three years. While the company saw profits increase in 2024, challenges persist in the crucial Chinese market, where a notable decline in orders has been observed. In 2024, Philips experienced a 1% growth in orders, capitalizing on a robust final quarter with a 2% increase, largely fueled by...

In a strategic move that resonates across global economies, the Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, are deliberating on extending oil production restrictions. This decision aims to sustain elevated oil prices—a scenario already impacting fuel costs worldwide. Historically, OPEC+ has suggested production increases to stabilize market prices but has deferred these adjustments multiple times. A further delay in increasing output marks...