As oil and gas prices rise around the world, Saudi Aramco has reported its greatest profits since its 2019 IPO. Profits at the state-owned energy company increased by 82 per cent in the first quarter, hitting $39.5 billion.   The company said in a press release that higher prices and...

JetBlue Airways Corp launched an aggressive all-cash acquisition bid for Spirit Airlines Inc on Monday, two weeks after the cheap carrier turned down a larger rival's offer.   JetBlue, which offered $33 per share in early April, is in a takeover war with Frontier Group Holdings for Spirit,...

After more than 30 years in Russia, McDonald's Corp announced on Monday that it will sell all of its restaurants, making it one of the biggest global businesses to leave since the country's invasion of Ukraine.   Following the transaction, the business expects to incur a non-cash charge of...

As money-focused TikTok accounts amass massive followings, staid banking institutions seek a piece of the action on youth-oriented social media sites.   Mark Tilbury (@marktilbury, 7 million followers), Humphrey Yang (@humphreytalks, 3.3 million), Tori Dunlap (@herfirst100k, 2.1 million),...

KPMG faces a 14.4 million pound ($17.6 million) penalties after admitting to misleading regulators during spot checks on audits of Carillion and Regenersis.   The British auditing regulator, the Financial Reporting Council (FRC), told a London tribunal on Thursday that it was seeking a...

Indian tax officials froze $478 million in deposits held in local bank accounts of China's Xiaomi Corp in February as part of an investigation into potential tax fraud, according to a report published by Reuters quoting two sources and a court filing document,    The financial freeze by...

A broad sell-off in technology equities has resulted in Apple losing its title of the most valuable firm of the world. For the first time in almost two years, Saudi Arabian oil and gas firm Aramco has reclaimed the top rank from Apple.   Investors have been dumping technology...

According to Dubai Airports CEO Paul Griffiths, air passenger volume in Dubai might approach pre-pandemic levels in 2024, a year earlier than previously predicted.   “We recorded 13.6 million passengers in that first quarter [at Dubai International Airport]. This is causing us to revise our...

Toyota Motor cautioned that "extraordinary" increases in raw material costs might shave a fifth off full-year earnings, a clear warning that the world's largest automaker by sales can no longer ignore the global supply-chain crisis.   The Japanese conglomerate also reported a 33% reduction...

Coinbase's CEO claimed that a statement in the company's most recent quarterly filing did not signal the cryptocurrency exchange operator was facing bankruptcy and was made to comply with a Securities and Exchange Commission (SEC) requirement.   Brian Armstrong made his remarks...

According to an internal letter of global electric car making leader Tesla seen by Reuters, the company has paused most of its production at its Shanghai plant due to challenges obtaining parts for its electric vehicles, the latest in a series of setbacks for the factory.   The automaker's...