Tag: Business

Business

China launches an antitrust probe into Google

China announced retaliatory measures against the U.S., including tariffs on coal, LNG, and crude oil, along with an antitrust probe into Google. Two U.S. firms were placed on China’s unreliable entity list, restricting their investments in the country. Google’s history in China dates back to 2006, but it shut down its search engine there in 2010 due to censorship concerns. Beijing later blocked all Google … Continue reading China launches an antitrust probe into Google

Unknown's avatarbcbegley
Business

PepsiCo earnings beat estimates, but demand for drinks and snacks drops

PepsiCo reported mixed quarterly results as North American demand for its snacks and drinks declined for the fifth straight quarter. Shares fell more than 2% in premarket trading. The company reported adjusted earnings per share of $1.96, slightly beating the $1.94 expected. Revenue came in at $27.78 billion, just below the expected $27.89 billion. Net income rose to $1.52 billion, or $1.11 per share, from … Continue reading PepsiCo earnings beat estimates, but demand for drinks and snacks drops

Unknown's avatarbcbegley
Business

Boeing seeks up to $35bn as costly strike drags on

Boeing plans to raise up to $35 billion from investors and banks as a costly strike by thousands of its workers enters its second month. The union representing over 30,000 workers held a rally in Seattle while Boeing prepares to lay off about 17,000 employees, with notices expected by mid-November. Negotiations to end the strike collapsed last week when Boeing withdrew a 30% pay rise … Continue reading Boeing seeks up to $35bn as costly strike drags on

Unknown's avatarbcbegley
Business

U.S. crude oil jumps more than 3%, closes above $77 

U.S. crude oil prices surged over 3% on Monday amid heightened tensions surrounding a potential Israeli strike on Iran following Tehran’s ballistic missile attack. Last week, oil prices experienced significant gains, with West Texas Intermediate rising 9.09% for its largest weekly increase since March 2023, and Brent crude up 8.43%, marking its biggest advance since January 2023. President Biden has urged Israel to refrain from … Continue reading U.S. crude oil jumps more than 3%, closes above $77 

Unknown's avatarbcbegley