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Samsung reports a 34.57% decline in Q4 operating profit
Samsung Electronics, the world’s leading producer of dynamic random-access memory chips, has reported a 34.57% decrease in its operating profit for the fourth quarter compared to the previous year. This decline is consistent with the…
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UPS reports disappointing Q4 earnings and reveals 12,000 job cuts
United Parcel Service (UPS) reported a significant drop in shipping volume, both domestically and internationally, in its fourth-quarter earnings report released on Tuesday. The company also revealed plans to implement a workforce reduction…
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Tech stocks drive Norway’s sovereign fund to $213 billion profit
Norway’s colossal sovereign wealth fund announced a groundbreaking achievement on Tuesday, as it revealed a record profit of $213 billion (2.22 trillion kroner) for the year 2023. This remarkable financial milestone was primarily fueled by…
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IMF’s 2024 global growth forecast highlights U.S. resilience
The International Monetary Fund (IMF) has revised its global growth projection for 2024, increasing it by 0.2 percentage points to 3.1%. This upward revision is attributed to the resilience of the U.S. economy and the proactive fiscal…
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ADNOC’s offshore electrification targets 50% carbon cut
The world’s most extensive and cutting-edge power cable-laying vessel has embarked on a groundbreaking endeavor, the $3.8 billion (AED13.95 billion) collaborative project between ADNOC and Abu Dhabi National Energy Company PJSC (TAQA). The…
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Microsoft hits $3 trillion market value, trails Apple
Microsoft, a tech giant with a storied history, reached a monumental milestone today by achieving a market value of over $3 trillion. In doing so, the company has solidified its position as the second-largest publicly traded company…
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Intel’s stock falls 10% on bleak 2024 outlook
Intel, a leading chipmaker, experienced a significant drop in its stock value during premarket trading on Friday. This downturn came on the heels of Intel’s announcement of its outlook for the first quarter of 2024, which fell short of…
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Tesla’s 12% dive wipes $80 billion in market value
In a stunning turn of events, Tesla, the electric vehicle giant, witnessed a harrowing 12% plunge in its stock value on Thursday, resulting in an astonishing $80 billion loss in market capitalization. The precipitous drop came mere hours…
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SAP’s massive €2 billion investment in AI transformation
SAP, one of Europe’s leading companies, has revealed a strategic restructuring plan involving the allocation of €2 billion ($2.2 billion) to pivot towards artificial intelligence (AI). With the aim of achieving scalable revenue growth, this…
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eBay cuts 1,000 full-time jobs in 9% workforce reduction
In a recent announcement, eBay revealed plans to eliminate approximately 1,000 full-time positions, marking a substantial 9% reduction of its workforce. The move comes as part of the ongoing trend in the tech industry’s downsizing efforts…
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