Business & Tech

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Business & Tech

Coverage of business, technology, and finance, from global markets to the latest tech and AI news.

Blacklisted by US authorities

AI data centre supplier Zhongji InnoLight slips on Hong Kong debut

The delivery of an additional 45 aircraft boosted Airbus's performance

Commercial, Defence, and Space

Profits soar at Airbus as it delivers more planes

Rheinmetall shares have soared 13-fold since before Russia's full-scale invasion of Ukraine in February 2022 as defence spending has surged across Europe

Benefitting from global insecurity

Rheinmetall shares surge after armsmaker reports record profit

BMW and other German carmakers are suffering from greater competition in China

Premium carmaker

BMW aims to cut 8,000 jobs by end 2027: company source

Revenue surpassed 50 trillion won for the first time in a single quarter, while operating profit nearly doubled compared to the previous three-month period

Explosive demand

SK hynix posts 1,200% net profit boost on AI chip boom

Ray Ban META AI glasses on display at the Mobile World Congress in Barcelona in March. Glasses are the top pick for tech influencer Selina Liu, whose

Targeting new consumers

AI glasses help propel EssilorLuxottica sales growth

A turnaround in Gucci's fortunes could be at hand as the drop in sales at the Italian fashion house has slowed

Kering sales begin to recover as Gucci improves

The cost-cutting measures follow having to abandon development of a chronic cough treatment that was in final stage trials

Second quarter tumble

British drugs group GSK targets savings after profits slide

Philips is turning the page on its sleep machine scandal

US tariffs refund boosts Philips

An employee at the Nahr Bin Umar Oil and Gas Field in southern Iraq, which has been affected by the Middle East war

Optimism for return to ceasefire

Oil prices slump as US and Iran pause strikes

Renault denied any wrongdoing over the emissions control devices and said it would defend its innocence

Cheating clean air laws

Renault to face criminal trial in France over dieselgate

LVMH's main fashion and leather goods business recorded its first quarterly sales hike in two years

First in two years

LVMH says growth accelerates in second quarter

AstraZeneca reconfirmed its outlook for the full year

Pharmaceutical giant

AstraZeneca profit rises on strong cancer drug sales

Perry Warjiyo resigned as Indonesia's central bank chief

Amid economic woes

Indonesia bank chief quits, adding uncertainty to struggling economy

ChangXin Memory Technologies (CXMT) is the world's fourth-largest maker of DRAM memory chips

Most valuable company in the mainland

Chinese chipmaker CXMT soars 500% on debut as AI fuels shortages

US District Judge James Boasberg's November ruling delivered a major victory to Meta

Social media giant

Meta quits clean energy pledge amid gas-powered data center push

Unmanned systems have transformed the battlefield in Ukraine

Consolidating partnerships

Autonomous fighter jets target Europe market at Farnborough airshow

Volkswagen is struggling with fierce Chinese competition and a tricky shift to electric vehicles

Volkswagen profit plunges as carmaker weighs mass job cuts

This time the impact on the world economy could be greater given the conflict shows no sign of ending

As stakes remain high

Oil passes $100 a barrel again: why it's more serious this time

Airbus is betting that longer wings that save up to 30 percent in fuel consumption could give a new aircraft design a competitive advantage

Transatlantic rivalry

Airbus, Boeing fly in different directions at Farnborough

Ubisoft has suffered a string of setbacks amid wider games industry woes

Tough day for Ubisoft stock topped with weaker revenues

Countries have turned to coal-fired power plants as supplies of natural gas constrained by the Mideast war and prices have risen

Price surges and supply difficulties

Coal-fired power generation rising globally on Mideast war: IEA

The massive $86-billion listing of SpaceX shares in June accounted for nearly half of total amount firms raised via initial public offers in the first half of this year

Potential bubble

AI-led boom in IPOs raises concerns about a bust

Spanning more than 30 brands in 120 countries, Peranel includes mineral water brands such as S.Pellegrino, Source Perrier and Acqua Panna

Nestle siphons off bottled water business into joint venture

EasyJet says it has been impacted by elevated fuel prices and a reduction in consumer demand in the wake of the Middle East conflict

Fuel prices and reduced demand

EasyJet profits nosedive on Mideast war

Nokia said that demand for its AI and cloud services drove sales higher in the second quarter, but restructuring charges ate into earnings

Amid restructuring

Nokia says AI, cloud boosted sales in second quarter

Repsol said it is prepared to quickly increase oil production in Venezuela

Repsol says profit more than triples on higher oil prices

Renault has embarked on a massive electrification drive

Less than 1.2 million vehicles

Renault says sales stalled in first half

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