Business

Airlines to return to profit in 2023: IATA

Airlines are expected to return to profit next year for the first time since 2019 despite slowing global growth as they recover from a COVID-induced crisis, an industry group said Tuesday.

Automotive

Ferrari sales, earnings guidance shift higher

Italian luxury sports car manufacturer Ferrari said Wednesday it had raised its 2022 earnings guidance after posting double-digit gains in sales and earnings.

Automotive

Volkswagen says China recovery accelerating

Auto giant Volkswagen said Friday its recovery in China was accelerating, but sounded a note of caution on geopolitical risks as concerns grow over German dependence on the Asian giant.

Business

Philips to cut 4,000 jobs as recall losses deepen

Dutch medical device manufacturer Philips said Monday it will slash 4,000 jobs after a massive financial hit for a recall of faulty sleep respirators pushed it into loss.

Business

Baidu reports 5% year-on-year decrease in Q2 revenue

Chinese internet giant Baidu Inc. on Tuesday announced second-quarter revenues of 29.6 billion yuan ($4.3 billion), down five percent from last year after the company faced a challenging economic climate and tight controls ...

Business

Nintendo Q1 net profit jumps thanks to weak yen

Nintendo said Wednesday its first-quarter net profit jumped 28 percent on-year, mainly thanks to a weaker yen, but hardware and software sales declined because of a chip shortage and COVID-19 supply issues.

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