The U.S. Justice Department filed a lawsuit on Friday against TikTok and its parent company, ByteDance, accusing them of failing to protect children's privacy on the social media platform. This action is part of the Biden administration's ongoing scrutiny of the Chinese-owned app, which has raised...

Europe's largest lender, HSBC, declared a share buyback program of up to $3 billion on Wednesday, following a better-than-expected pretax profit for the first half of the year, driven by a high-interest rate environment.   The bank reported a pretax profit of $21.56 billion for the six...

Starbucks' recent operational enhancements helped the coffee chain meet Wall Street's profit expectations for the quarter, despite a decline in global sales due to continued weak consumer spending in its key markets, the U.S. and China.   The company's shares, which had fallen 22% this year,...

Microsoft is set to significantly increase its investment in AI infrastructure in the coming fiscal year, despite experiencing slower growth in its cloud business. This move highlights that the benefits of substantial investments in AI technology may take longer to materialize than anticipated by...

Britain's antitrust watchdog, the Competition and Markets Authority (CMA), has announced an investigation into Google-parent Alphabet's partnership with artificial intelligence startup Anthropic, scrutinizing its potential impact on competition. The CMA's move comes amid growing global concerns...

Pfizer raised its annual profit forecast on Tuesday, buoyed by its $43 billion acquisition of Seagen and strong sales of its heart disease and cancer treatments, despite facing a significant revenue decline from COVID-related products.   The company’s focus has shifted away from its COVID-19...

Toyota is bracing for a significant increase in operating profit despite facing production challenges and declining output. The automaker is expected to report a 21% rise in operating profit for the first quarter, reaching 1.35 trillion yen ($8.7 billion), driven by a weaker yen and strong demand...

Investors will want to see if Meta Platforms' expenditure on artificial intelligence is beginning to pay off. The company is likely to post a 20% increase in quarterly revenue, aided by high ad sales spurred by the Olympics and elections in numerous countries.   The social media behemoth is...

The largest initial public offering (IPO) in India this year, expected to draw significant international investors and demonstrate rising trust in the country's financial markets, was announced by e-scooter producer Ola Electric on Monday. The company said it intended to raise $734 million in this...

McDonald's revealed a startling dip in global sales on Monday, the company's first decline in 13 quarters, as budget-conscious customers avoid more expensive menu items like Big Macs.   Lower-class customers are being compelled by persistent inflation to switch to more reasonably priced...

When Microsoft releases its earnings on Tuesday, investors will be left with one major question: has the company's Azure cloud computing business grown sufficiently to warrant spending billions of dollars on artificial intelligence infrastructure?   Thanks to its partnership with ChatGPT...