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Microsoft Accuses An Austrian Spy Business Of Developing A Hacking Tool For EU Member States

Microsoft said an Austrian firm built malicious software that was identified on the computer systems of some of its clients in at least three countries, but the espionage tool "Subzero" was solely for official use in EU states.   Microsoft stated that the spying software, or spyware, capable...

BNP Paribas Excelled In The Second Quarter, With Shares Increasing

BNP Paribas, a French bank, posted a better-than-expected profit in the second quarter as bad loan charges fell and activity remained strong in both investment and retail banking, despite volatile global markets and an economic downturn.   The net income of France's largest listed lender...

Hermes Reports A Significant Turnaround In China And A Record Margin

Hermes sales grew considerably in the second quarter, boosted by robust growth in Europe and the United States, as well as a solid resurgence in China in June.   Following Chinese lockdowns in April and May, the French leather goods company, which is particularly known for its silk scarves...

Analysts Predict Apple Will Encounter Tepid Demand In China Following A Dip In Quarterly Revenue

Some analysts warned on Friday that Apple should brace for a drop in Chinese demand as shoppers cut down on spending in anaemic conditions, following the iPhone maker's announcement that demand had risen in mid-June after COVID-19 lockdowns impeded sales.   The iPhone maker announced a 1 per...

Rio Tinto Reduces Dividend As Profits Fall; Shares Fall

Rio Tinto announced a 29 per cent decline in first-half profit and reduced its dividend for more than half on Wednesday, as the global mining giant was affected by lower iron ore prices owing to cooling demand from major client China, rising expenses, and labour shortages.   It is...

SPAR, A Dutch Retailer, Will Join The Israeli Market Amid Rising Living Costs

Amit Zeev, an Israeli businessman, claimed he has signed a preliminary agreement to bring the Dutch grocery retail chain SPAR to Israel, which would increase competition and potentially cut food prices, which have risen in recent months.   Zeev was previously the CEO of Yeinot Bitan, one of...

Orange And MasMovil Have Agreed To A $19 Billion Merger In Spain

Orange and MasMovil have reached a contractual agreement to consolidate their businesses in Spain in a deal valued at close to $19 billion, the two telecom companies announced on Saturday.   The combination establishes a mobile and broadband heavyweight, posing a challenge to top competitor...

Child Labour Was Used At A Factory Of A Subsidiary Of Hyundai In The US

According to regional police of Montgomery, Alabama, the family of three minor workers, and eight former and present employees of the facility, a subsidiary of Hyundai Motor Co exploited child labour at a company that supplies parts for the Korean carmaker's assembly line in the...

Snap's Study Destroys An Ad Sector Market Valuation Of $80 Billion

On Thursday, the combined stock market value of Facebook-owned Meta Platforms, Alphabet-owned Google, and other firms that sell online advertisements fell by approximately $80 billion after Snap reported weak quarterly results and warned of an uncertain outlook.   The Snapchat owner failed...

Amazon Strides Into US Healthcare Sector With A $3.5 Bln Deal For One Medical

Amazon.com Inc agreed to pay $3.49 billion for primary care provider One Medical, expanding the e-commerce giant's virtual healthcare and adding brick-and-mortar doctors' clinics for the first time.   The all-cash transaction would unite two relatively modest players as Amazon continues its...

ASML's Profit Improves Due To Record Bookings In The Semiconductor Industry

ASML Holding NV reported increased second-quarter net profit on Wednesday on record new bookings as it continued to deploy equipment to clients as quickly as possible despite signs of a downturn in consumer markets.   The Dutch firm, a key supplier to computer chip makers, posted a net...

Tesla Is Bracing For A Drop In Earnings, But The EV Delivery Projection Remains Critical

The stresses of China's COVID-19 lockdown and postponed installation of new facilities are expected to show up in Tesla Inc's second-quarter results on Wednesday. Investors want to know if the year will end on a high note.   Tesla has begun layoffs, as planned by CEO Elon Musk, who stated in...
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