As a result of lower interest income and credit value adjustments, the British bank Standard Chartered had to accept a slump in profits last year. As the financial institution, which is strongly focused on Asia, announced, the adjusted pre-tax profit plummeted by 40 per cent to 2.51 billion US...

Tech stocks rebounded from an early swoon after Federal Reserve Chairman Jerome Powell pledged anew to support the economic recovery by keeping interest rates low, easing concerns about the impact of rising rates on the monthslong rally in major U.S. indexes. Tuesday's swings highlight a...

The US tyre manufacturer Goodyear is strengthening itself with a multi-billion dollar acquisition. As the company announced, it is taking over Cooper Tire & Rubber Co. The deal values the company at around 2.8 billion US dollars. Cooper Tire shareholders will receive $41.75 per share in cash...

Boeing Co. told airlines to stop flying its wide-body 777 aircraft equipped with a type of engine that broke apart during a flight over the weekend near Denver, as the Federal Aviation Administration said it would order immediate inspections of those jets. Boeing's recommendation followed action...

Volkswagen AG is considering listing as much as 25% of its sports car maker Porsche AG, a move that analysts said could boost the market value of the entire Volkswagen group and raise cash needed for investment in electric vehicles and new technology. The idea of listing Porsche or selling a...

Credit Suisse Group AG said hefty legal charges pushed it to a fourth-quarter loss, even as a rebound in investment banking lifted other parts of the bank's operations. On Thursday, the Swiss bank reported a loss of 353 million Swiss francs, or nearly $393 million, for the fourth quarter....

Adidas AG announced that it has started a formal process to divest its Reebok brand after concluding a strategic assessment. The German sporting-goods company said it will report Reebok as discontinued operations from the first quarter of the year onwards. "After careful consideration, we have...

Stock market listing would give UMG firepower to compete with rivals Warner Music Group and Sony Music Entertainment. Shares in Vivendi surged 19,6% on Monday after the French media group said that it may spin out Universal Music Group business in Amsterdam and distribute 60% of the capital to...

Pfizer Inc. and BioNTech SE said the U.S. government has exercised its option for an additional 100 million doses of their Covid-19 vaccine. This brings the total number of doses to be supplied by the companies to the U.S. government to 300 million. Consistent with the agreements for the prior...

The growing streaming business Disney+ has given the entertainment company Disney a strong profit surprise. The company benefited from people's search for entertainment in the pandemic and increased the number of its subscribers to 94.9 million. However, in other areas of Disney such as the...