Yum Brands fell short of revenue expectations in the second quarter as Pizza Hut and KFC struggled with declining same-store sales, while Taco Bell saw a 5% increase.
Archives
Rivian Beats Wall Street’s Estimates Despite Losses and Cost-Cutting Focus
Despite ongoing losses of over $1 billion, Rivian Automotive exceeded Wall Street's revenue and earnings estimates for Q2 2024 through cost-cutting measures.
South Africa’s New Energy Plan Proved Effective as Electricity Remains Stable Since March
South African government and Eskom’s energy plan proved successful as the country has not experienced any power outages for the past four months, the longest period of stable electricity in over four years.
Hyundai, Kia's Anti-Theft Software Upgrade Reduces Vehicle Theft by 64%
Recent Highway Loss Data Institute research shows that Hyundai and Kia's software upgrades have cut vehicle theft rates by 64% since February 2023.
Disney Reports Record Profit, Thanks to Combined Streaming Services
Disney exceeded expectations in Q3 report, achieving its first profit from combined streaming services and reporting earnings per share of $1.39, despite challenges in its parks and experiences segment.
Latest News
Foreign acquisitions of Chinese pharmaceutical companies have raised national security concerns, as industry experts worry about the potential impact on China's healthcare sector and access to essential medicines.
New South Wales, Australia, has mandated that all public employees return to office work starting August 6, reversing remote work policies due to debate on its impact on staffing and business activity.
A US judge ruled that Google operates an illegal monopoly, controlling 90% of online searches and 95% of mobile searches, which may lead to a breakup of its parent company, Alphabet.
World's largest oil company, Saudi Aramco, reported a 3% decline in second-quarter profits to $29.1 billion due to lower crude production but still plans to pay $124.2 billion in dividends this year.
Tech giants in the US lost approximately $1 trillion in market value this week due to recession fears and disappointing economic data, with sharp declines in Nvidia, Apple, and Amazon.
The Blackwell B200 AI chips will now take at least three more months to produce. Nvidia Corp. 's upcoming artificial intelligence chips are now facing production delays due to a design flaw, according to a report.
Groq was originally looking to raise $300 million at a slightly lower valuation. Groq, an artificial intelligence chipmaking startup, has secured more than $600 million in a recent funding round, the company announced Monday.
The ruling could force Google to allow users to choose which search engine to use. A federal judge on Monday ruled that Alphabet's Google broke antitrust laws and held an illegal monopoly in the United States in a landmark ruling against the tech giant.
The move came after Musk slammed California's SAFETY Act last month. X, the social media company formerly known as Twitter and owned by Elon Musk, is now preparing to shut its San Francisco office and move to Texas, according to an internal email sent to employees on Monday.
