Domino’s Pizza, the world’s largest pizza chain, reported a miss in quarterly same-store sales estimates. This shortfall can be attributed to inflationary pressures, which have discouraged consumers, particularly those with lower incomes, from eating out …
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Bunge and Viterra Offer Concessions to Secure EU Merger Approval
Bunge and Viterra, two major agricultural companies, are offering concessions to win EU antitrust approval for their $34 billion merger. This move comes after the European Commission expressed concerns about the deal’s potential impact on …
Continue readingPepsiCo’s Q2 Revenue Misses Expectations as Price Hikes and Competition Bite
PepsiCo reported disappointing second-quarter results on Thursday, missing revenue expectations due to slowing sales of snacks and beverages, primarily in the United States. The company’s revenue came in at $22.50 billion, falling short of analysts’ …
Continue readingApple Averts EU Fine, Opens iPhone Payments
Apple has agreed to open its iPhone’s tap-and-go payment system, NFC, to rival mobile payment providers, ending a four-year antitrust investigation by the European Union. This move, considered a settlement, will allow developers to build …
Continue readingxAI and Oracle End $10 Billion Server Deal Talks
Elon Musk’s artificial intelligence startup xAI has ended talks with Oracle for a potential $10 billion server deal, according to The Information. The deal would have expanded on an existing arrangement where xAI rents Nvidia’s …
Continue readingAlibaba Leverages Generative AI to Power International E-Commerce Growth
Alibaba, the Chinese tech giant, is tapping into generative AI to give its international e-commerce businesses a boost. The company’s international unit is utilizing AI-powered tools to help cross-border merchants with translation, content creation, and …
Continue readingSamsung Q2 Profit Skyrockets on AI Chip Boom, Memory Prices Surge
Samsung Electronics is poised for a record-breaking second quarter, with estimates indicating a staggering 15-fold increase in operating profit. The surge is attributed to the artificial intelligence (AI) boom, which has driven up semiconductor prices …
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