China’s trade surplus shrank more than expected in July, driven by a combination of slower export growth and unexpectedly strong imports. The country’s trade balance showed a surplus of $84.65 billion, falling short of the …
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Kamala Harris Picks Tim Walz as Running Mate, Drawing Mixed Reactions
Kamala Harris has selected Minnesota Governor Tim Walz as her running mate for the upcoming presidential election. The pick has been met with a mix of reactions, with Democrats praising Walz as a strong and …
Continue readingSony Reports 10% Profit Rise Driven by Image Sensor Success, but Challenges Remain
Sony reported a 10% rise in operating profit for the April-June quarter, surpassing analyst expectations. This growth was fueled by the strong performance of its image sensor business, which saw profits nearly triple thanks to …
Continue readingCaterpillar Beats Profit Estimates on Strong Pricing Despite Demand Slowdown
Caterpillar, a leading manufacturer of construction and mining equipment, exceeded analyst expectations for second-quarter profits. The company’s stock price jumped 5% in premarket trading, reflecting investor confidence in the company’s performance. Despite a moderation in …
Continue readingYum Brands Q2 Sales Dip as US Demand Weakens, Taco Bell Shines
Yum Brands, parent company of Taco Bell, KFC, and Pizza Hut, reported a bigger-than-expected drop in same-store sales for the second quarter. The decline was attributed to sticky inflation and a shift towards home-cooked meals …
Continue readingJoby Aviation Targets Australia for Air Taxi Operations
Joby Aviation, the electric air taxi manufacturer, has formally applied for aircraft certification in Australia. The company’s application to Australia’s Civil Aviation Safety Authority (CASA) leverages a bilateral agreement between the U.S. and Australian regulators …
Continue readingGoogle Found Guilty of Antitrust Violations: Judge Rules Search Engine Monopoly Illegal
A US judge has ruled that Google violated antitrust laws by maintaining an illegal monopoly in the search engine market. The ruling, which could lead to a potential breakup of Google’s parent company, Alphabet, is …
Continue readingAI Chip Startup Groq Raises $640 Million, Valuation Hits $2.8 Billion
Semiconductor startup Groq has secured a significant $640 million Series D funding round, propelling its valuation to a substantial $2.8 billion. The investment round, led by prominent investors including Cisco Investments, Samsung Catalyst Fund, and …
Continue readingInfineon Cuts 1,400 Jobs Worldwide, Relocates Another 1,400 to Lower-Cost Regions
German chipmaker Infineon is implementing a significant restructuring plan, announcing cuts of 1,400 jobs globally and relocating another 1,400 positions to countries with lower labor costs. This move is part of a previously announced cost-savings …
Continue readingHoneywell Automation India Q1 Profit Jumps on Order Execution
Honeywell Automation India (HONE.NS) reported a strong first-quarter profit, driven by successful execution of existing orders, particularly legacy projects. The company, a subsidiary of US-based Honeywell International, saw a 32% year-on-year profit increase, reaching 1.37 …
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