Business - Page 12

The latest updates and key developments from the business world.

December 4, 2025

BMO lifts dividend as U.S. banking overhaul shows progress

Improved credit performance drives stronger earnings BMO Financial Group reported $2.3 billion in fourth quarter profit and announced a higher dividend as improvements in its U.S. loan portfolio helped reduce provisions for

December 3, 2025

Delta says shutdown cut profit by $200 million

Longest government impasse hurt travel bookings Delta Air Lines reported that the recent U.S. government shutdown reduced its pretax profit by about $200 million, following a noticeable softening in bookings during the

December 1, 2025

Goldman Sachs to acquire Innovator Capital

Two billion dollar deal to expand ETF offerings Goldman Sachs said Monday it agreed to acquire Innovator Capital Management for about $2 billion, marking the latest move to strengthen its asset management

Tencent and Baidu Tackle U.S. Chip Curbs in AI Race

by Jamie Spencer

As the U.S. tightens restrictions on key semiconductor exports, Chinese tech giants Tencent and Baidu are adapting their strategies to remain competitive in the global artificial intelligence (AI) race. Both companies are

May 26, 2025

BYD Shares Drop After Price Cuts, Investors Concerned

by Jamie Spencer

Shares of Chinese electric vehicle (EV) giant BYD plunged as much as 8.25% on Monday, a sharp decline from their record high last week, following the company’s announcement of price cuts on

May 26, 2025

TD Bank Announces 2% Workforce Layoff to Cut Costs

by Jamie Spencer

TD Bank (TD.TO) revealed Thursday that it will lay off 2% of its workforce, equating to approximately 2,000 employees, as part of a broader restructuring effort. This move aims to reduce costs

May 22, 2025

BYD Surpasses Tesla in European EV Sales

by Jamie Spencer

In a significant shift in the European electric vehicle (EV) market, Chinese automaker BYD has overtaken Tesla in sales for the first time. According to a report by JATO Dynamics, BYD sold

May 22, 2025

Nestlé Gains Market Share in US Amid Economic Slowdown

by Jamie Spencer

Despite a slowdown in the U.S. economy, Swiss food giant Nestlé is making significant strides in recovering market share in the country, according to CEO Laurent Freixe. In an interview with Neue

May 21, 2025

US-China Trade Tensions Escalate Over Huawei’s Advanced Chips

by Jamie Spencer

After a brief truce on tariffs between the United States and China, tensions are reigniting, this time focusing on the future of Beijing’s most advanced semiconductors. The disagreement centers on Huawei’s AI

May 21, 2025

OpenAI Acquires Jony Ive’s Startup io for $6.4 Billion

by Jamie Spencer

OpenAI has made its largest known acquisition yet, purchasing the hardware startup io for $6.4 billion. The company was founded by Jony Ive, the renowned Apple designer best known for his work

May 21, 2025

Moody’s Downgrades U.S. Banks After Sovereign Credit Cut

by Jamie Spencer

Moody’s downgraded the long-term ratings of major U.S. banks, including JPMorgan Chase, Bank of America, and Wells Fargo, following its decision to strip the U.S. of its top triple-A rating due to

May 20, 2025

JPMorgan Analyst Reaffirms Underweight Rating for Novavax

by Jamie Spencer

On May 19, JPMorgan analyst Eric Joseph reaffirmed an Underweight rating for Novavax Inc. (NASDAQ: NVAX) with a price target of $7. This decision follows the approval of the company’s COVID-19 vaccine

May 19, 2025

Spain Orders Airbnb to Remove 65,000 Listings

by Jamie Spencer

In a bold move aimed at tackling Spain’s housing crisis, the Spanish government has instructed Airbnb to withdraw more than 65,000 holiday rental listings from its platform. The government claims that these

May 19, 2025

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