November 17, 2022 10:31 am
Saudi Aramco said on Thursday that it intended to invest $7 billion in a South Korean affiliate’s facility in the city of Ulsan. The Saudi firm has an over 63% stake in South Korea’s S-Oil Corp. Named Shaheen, the project will be Saudi Aramco’s largest investment in South Korea aimed to develop one of the […]
Read moreNovember 17, 2022 8:45 am
Nvidia Corp said on Wednesday that it would partner with Microsoft Corp to build a “massive” computer aimed to handle intense artificial intelligence computing work in the cloud. The AI computer is to operate on Microsoft’s Azure cloud and use tens of thousands of graphics processing units – Nvidia’s most powerful chips, H100 and A100. […]
Read moreNovember 16, 2022 12:05 pm
Accenture said on Tuesday that it would acquire data science firm ALBERT Inc, after a tender offer has been completed. The acquisition will add a data science team of 250 permanent employees and contractors to Accenture’s Applied Intelligence practice to further enhance its data and AI capabilities for customers. ALBERT Inc was established in 2005 […]
Read moreNovember 16, 2022 10:02 am
Vodafone on Tuesday revised down its full-year cash flow and adjusted core earnings forecasts amid surging energy costs and a deteriorating performance in markets such as Germany, Italy and Spain. Due to a “challenging macroeconomic environment”, Vodafone slashed its cash flow forecast by EUR 200 million to EUR 5.1 billion for the year that ends […]
Read moreNovember 15, 2022 11:50 am
Daseke Inc (DSKE) said on Monday that it had entered into an agreement with company founder, Don R. Daseke, and his affiliates, to repurchase their total holdings – 17,932,725 shares, in the transportation solutions company at a purchase price of $6.00 per share. This way the company will repurchase about 28.6% of its issued and […]
Read moreNovember 14, 2022 10:28 am
Japan’s largest bank in terms of assets, Mitsubishi UFJ Financial Group Inc, on Monday posted a 70% slump in its net profit for the fiscal second quarter due to another one-off loss associated with the sale of MUFG Union Bank. The lender’s profit decreased to JPY 117.41 billion during the July-September period from JPY 398.4 […]
Read moreNovember 11, 2022 11:55 am
Cisco Systems Inc (CSCO) plans to establish a new semiconductor chip design center in the city of Barcelona, Spain, the office of Prime Minister Pedro Sanchez said in a Thursday statement. The project is part of the PERTE plan of government subsidies for semiconductor research and development by using the European Union’s pandemic relief funds, […]
Read moreNovember 11, 2022 9:57 am
Mazda Motor Corp said on Thursday that vehicle demand in the United States would remain strong for the remainder of 2022. Still however, the US economy will probably slow after the spring of 2023 amid rising interest rates. “As for the U.S. market from next spring onward, we believe that the economy will gradually slow […]
Read moreNovember 10, 2022 11:53 am
Phillips 66 (PSX) said on Wednesday that it intended to return additional $10 billion to $12 billion to shareholders between mid-2022 and the end of 2024 via a combination of dividends and share repurchases. The Board of Directors of Phillips 66 has approved a $5 billion increase to its authorization regarding common stock repurchases, with […]
Read moreNovember 10, 2022 9:40 am
Iveco Group on Wednesday raised its forecasts regarding full-year revenue, operating profit and cash generation. The truck maker also said it expected pricing power to offset higher costs of raw materials and energy. The Italian manufacturer said the decision to revise up forecasts came after the solid results it had achieved so far in 2022 […]
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