Twitter on Tuesday urged shareholders to endorse the $44 billion deal Elon Musk made to buy the online podium, setting a vote on the merger for September 13.. Twitter shareholders were assured that they will be able to attend the meeting online, and vote remotely.
President Joe Biden on Tuesday hailed progress in the US bid to revamp its 21st century economy after huge South Korean group SK announced a $22 billion investment in US semiconductor and other cutting edge industries.. "This pathbreaking announcement represents clear evidence that the United States, Korea, and its allies are back and winning the technology competition of the 21st century," Biden said in a virtual meeting at the White House with the top executives from SK Group, South Korea's second largest conglomerate.
Google-parent Alphabet on Tuesday reported its profit in the recently ended quarter slipped to $16 billion as its long sizzling ad revenue growth cooled.. Alphabet profit was some $2.5 billion higher in the same quarter a year earlier, but the flow of online ad dollars that fuels the company's fortunes has slowed as inflation, war and other troubles vex the overall economy.
President Joe Biden has still not decided whether to end some trade tariffs on China ahead of a phone call expected this week with his Chinese counterpart Xi Jinping, a senior official said Tuesday.. The call, which is expected this week but has yet to be finally scheduled, will be the fifth between Xi and Biden since the Democrat took office in 2021.
Despite damaging Western sanctions imposed on Moscow in the wake of the invasion of Ukraine, Russia's economy appears to be weathering the storm better than expected as it benefits from high energy prices, the IMF said Tuesday.. Meanwhile, rising energy prices are "providing an enormous amount of revenues to the Russian economy."
The global economy is facing a worrisome slowdown, but the critical priority for policymakers is to bring raging inflation under control, the IMF's chief economist said Tuesday.. - Signs of hope - Some of the primary risks facing the global economy are beyond the control of policymakers, including the potential for Russia to shut off gas supplies to Europe.
Canadian e-commerce platform Shopify laid off about 10 percent of its workers Tuesday as a pandemic-driven boom in online shopping has waned.. Shopify beefed up its team as online shopping boomed during the pandemic, gambling that the lifestyle shift would remain even when restrictions eased, Lutke told workers.
German national carrier Lufthansa said it would have to cancel almost all flights at its domestic hubs in Frankfurt and Munich on Wednesday because of a planned strike by ground crew, adding to a summer of travel chaos across Europe.. "Lufthansa will have to call off almost the entire flight programme at its hubs in Frankfurt and Munich for Wednesday," the group said, adding that a knock-on effect on some flights scheduled for Thursday and Friday could not be ruled out.
Amazon Prime customers in five European countries learned Tuesday that they face double-digit price increases for the platform's expedited delivery service.. The rises take the price of Prime, which in addition to rapid delivery includes access to its Prime Video service, to 49.90 euros in Italy and Spain.
When Oliver Blume ascends to the top job at German automaker Volkswagen in September, he will be faced with taming the challenges that led to the fall of his predecessor, Herbert Diess, last week.. The new chief, who has spent his entire career at Volkswagen, is more "cooperative" than Diess, who was hired from rival German carmaker BMW, Dudenhoeffer said.
