"Due to a shortage of skilled labor and rising costs, Taiwan Semiconductor Manufacturing Co. (TSMC) is forced to delay the launch of its factory in Arizona.
Netflix, the streaming giant, recently reported its quarterly earnings, revealing a 2.7% rise in revenue to $8.2 billion, a figure that fell in line with the company's expectations. However, the increase was primarily attributed to a surge in new subscribers, rather than a significant uptick in advertising revenue.
"The Luxembourg-based private equity firm, CVC Capital, announced on Thursday that it has raised 26 billion euros (about $29.2), marking the largest buyout fund in history. This landmark development points to a warming trend in global investment activity, just as the Federal Reserve's rate hike phase nears its end.
"On the afternoon of July 20, Beijing time, TSMC, the world's largest semiconductor manufacturer, announced its second-quarter results for the period ending June 30.
Saudi Arabia's newest national airline, Riyadh Air, is making waves with its ambitious goals, positioning itself as the "largest startup airline in the Middle East in the past 30 years," a "digital-native airline of the modern era," and a "brand-new premium full-service airline."
China Evergrande Group, the beleaguered property giant, has thrown a curveball in its ongoing restructuring saga. In a surprising move, the company announced the cancellation of pivotal creditor meetings initially slated for September 25-26. This decision, as revealed in an exchange filing on Friday night, stems from sales performances that have not met the company's expectations.
Rupert Murdoch, the 92-year-old media mogul, has announced his retirement from his roles as chairman of both Fox Corporation and Fox News Group, transitioning to the position of honorary chairman. His eldest son, Lachlan, is set to take his place.
For decades, diamonds have been the darlings of the luxury market. However, in the past year, the price of certified diamonds has plummeted by 35% to 40%, prompting many to question whether the era of exorbitantly priced diamonds is coming to an end.
In a ripple effect stemming from the United Auto Workers (UAW) strike, both General Motors (GM) and Stellantis have announced significant layoffs, underscoring the broader impact of labor disputes on the automotive industry.
Boeing anticipates that it will take several years to return to normal delivery volumes in the Chinese market. During a media briefing on China's civil aviation market outlook held on September 20, Boeing's Vice President of Civil Aviation Market Marketing, Huo Daren, conveyed this sentiment.
In a notable display of resilience, Instacart, the grocery delivery giant, made a robust debut on the Nasdaq, with its shares surging by 40%, opening at a commendable $42. This comes after the company's initial public offering (IPO) was priced at $30 a share, valuing the San Francisco-based firm at approximately $10 billion on a fully diluted basis. This valuation, however, was a significant drop from its peak private market valuation of $39 billion during the early days of the Covid pandemic in 2021. The opening price further elevated its valuation to around $14 billion.
In a fresh blow to China's beleaguered property developer, China Evergrande Group, shares of the company plummeted by a staggering 25% on Monday. This sharp decline came in the wake of the detention of several staff members from its wealth management unit, hinting at a potential new investigation that could exacerbate the company's already precarious situation.