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German airline Lufthansa has been granted permission by the European Commission to acquire a significant stake in Italy’s ITA Airways. However, in exchange, Lufthansa must create room for competition on flight routes between Italy and Central Europe. Lufthansa announced its investment in ITA in spring 2023, initially paying €325 million for a 41% stake in the company. Lufthansa has also expressed intentions to fully acquire ITA after 2025,...
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...
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Stay informed about the economy and financial markets. Reading financial insights and market news can help individuals make more informed investment decisions. It can also provide information on economic trends and events that may affect the performance of different investments. Additionally, it can help individuals stay up-to-date on changes in government policies and regulations that could impact the financial markets. Overall, staying informed about financial and market news can help individuals make more informed decisions about their investments and manage their financial portfolios more effectively.