Goodyear Tire & Rubber has agreed to sell its Off-the-Road (OTR) tire business to Yokohama Rubber for $905 million in cash. The sale is part of Goodyear’s ongoing effort to streamline its operations and generate …
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Wipro Shares Plunge After Weak Q1 Results, Raising Growth Concerns
Wipro, India’s fourth-largest IT services company, suffered a significant stock drop on Monday after reporting disappointing Q1 results. Shares plummeted by 8%, their largest decline in over four years. The slump comes amidst a strong …
Continue readingVerizon Adds More Subscribers Than Expected, Driven by Customizable Plans
Verizon Communications exceeded analyst expectations for wireless subscriber additions in the second quarter of 2023. The company added 148,000 net monthly bill-paying wireless phone subscribers, driven by strong demand for its flexible “myPlan” offering. The …
Continue readingCrowdStrike Software Update Causes Global Tech Outage, Affecting 8.5 Million Microsoft Devices
A global tech outage, triggered by a software update from cybersecurity firm CrowdStrike, has affected nearly 8.5 million Microsoft devices. While representing less than one percent of all Windows machines, the outage has had significant …
Continue readingEmbraer’s Eve Flying Taxi Prototype Takes Flight, Funding Secured Through 2027
Embraer subsidiary Eve has taken a significant step towards its air taxi vision by unveiling a full-scale prototype of its electric vertical take-off and landing (eVTOL) aircraft. The prototype, set to begin flying by late …
Continue readingBoeing Aims to Boost 787 Production by Year’s End as Suppliers Catch Up
Boeing is aiming to increase production of its 787 Dreamliner back to five jets per month by the end of the year, as the company expects delayed suppliers to catch up on parts shortages. The …
Continue readingExxonMobil Exits Malaysia’s Upstream Sector, Sells Assets to Petronas
ExxonMobil, the US-based energy giant, has exited Malaysia’s upstream sector after agreeing to sell its oil and gas assets to Petronas, the national oil company. This move signifies a strategic shift for ExxonMobil, as it …
Continue readingAmerican Express Q2 Profit Soars as Wealthy Customers Spend Big
American Express (AXP) delivered a strong second-quarter performance, exceeding analysts’ expectations for profit. The credit card giant reported $3.02 billion in earnings, marking a 39% year-over-year increase. This robust performance was fueled by the continued …
Continue readingNokia Q2 Profit Plunges 32% Amid 5G Demand Slump, But Sees Recovery in 2H
Nokia reported a significant decline in its second-quarter operating profit, falling 32% year-on-year to €423 million. The Finnish telecoms equipment maker attributed the drop to weakening demand for 5G equipment, a trend impacting the entire …
Continue readingItaly’s Renewable Energy Production Surpasses Fossil Fuels for the First Time
Italy has reached a significant milestone in its transition towards a cleaner energy future. Renewable energy production in Italy surpassed fossil fuel output for the first time during the first six months of 2024, according …
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