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In India's Largest IPO Of The Year, Ola Electric Is Expected To Raise $734 Million

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...

Global Sales Of McDonald's Decline For The First Time In Over Three Years

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...

Costs At Microsoft Are Under Scrutiny As Concerns About AI's Sluggish Payback Grow

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...

Warner Bros. Discovery Files A Lawsuit Against The NBA To Obtain Media Rights Granted To Amazon

In an attempt to keep the broadcast rights for a series of live games, Warner Bros. Discovery has filed a lawsuit against the NBA.   The company's TNT Sports division released a statement saying, "We have taken legal action to enforce our rights, given the NBA's unjustified rejection of our...

UK Law Enforcement Get Data From Seven Banks In The "Dirty Money" Scandal

Seven banks, including Barclays, NatWest, and Lloyds, have agreed to share customer data with the National Crime Agency (NCA) as part of the largest-ever global initiative to combat money laundering, criminal gangs, and the movement of "dirty money" across the nation.   A year ago, Reuters...

LVMH's Luxury Products Take Front Stage At The Olympics Opening

The richest man in France, Bernard Arnault, who also serves as the CEO of the upscale conglomerate LVMH, spent around 150 million euros ($163 million) to become the exclusive sponsor of the Paris Olympics. His products were the focal point of an extravagant display that was watched by people all...

As Local Firms Take The Lead In The Chinese Smartphone Industry, Apple Is No Longer One Of The Top 5 Sellers

According to a Canalys research, Apple was pushed out of the top five smartphone suppliers' list in China in the second quarter as competition from local manufacturers like Huawei grew.   According to a survey issued on Thursday, Apple's market share in China decreased to 14% in the second...

Alphabet Shares Decline As OpenAI Launches SearchGPT, A Search Engine

A search engine prototype named SearchGPT was unveiled by OpenAI on Thursday. Its goal is to provide users with "quick and timely answers with clear and relevant sources."   The technology is now being evaluated with a small group of users, and the business stated that it eventually intends...

EU Supports Novo Nordisk's Wegovy To Lower Cardiac Risks

The European Union's medical regulator has approved the use of Novo Nordisk's popular weight reduction medication Wegovy to prevent the escalation of major cardiac events in persons who are overweight or obese.   After analysing the results of the highly monitored SELECT study, the Danish...

Strong Demand For More Expensive Touring Bikes Drives Harley-Davidson's Earnings Higher

Harley-Davidson's shares rose almost 5% before the bell on Thursday as the firm announced a better-than-expected quarterly profit. This was aided by high demand for its more expensive Touring motorcycles during the summer riding season.   To increase its profits, the business has...

Meta Will Pay Its First EU Antitrust Charge For Connecting Marketplace With Facebook - Reuters

Meta Platforms might face its first EU antitrust sanction in a few weeks for connecting Marketplace, a classified ads site, with Facebook, said a report by Reuters based on persons with firsthand knowledge of the situation.   The European Commission's action will come more than a year and a...

Alphabet, The Parent Company Of Google, Surpasses Q2 Revenue And Profit Projections Thanks To Strong Advertising And Cloud Business

Driven by an increase in sales of digital advertising and strong demand for its cloud computing services, Alphabet exceeded second-quarter revenue and profit projections on Tuesday. However, the company warned that capital costs would stay high for the entire year.   Alphabet's findings show...
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