Newly appointed UBS CEO Sergio Ermotti (R) speaks with UBS Chairman Colm Kelleher during a press conference in Zurich on March 29, 2023. Arnd Wiegmann | Afp | Getty Images UBS CEO Sergio Ermotti earned 14.4 million Swiss francs ($15.9 million) in 2023 after his surprise return at the helm of the Swiss banking giant, … Read more
VNV Global, a Swedish investment firm that backs startups in mobility, health and marketplaces, slashed the value of its holding in Wasoko, an African B2B e-commerce startup, by 48%, according to its annual report for 2023. In its annual report, VNV set Wasoko’s fair value at around $260 million as of December 2023, the month that … Read more
Boeing CEO Dave Calhoun speaks to reporters as he departs from a meeting at the office of Sen. Mark Warner (D-VA) on Capitol Hill January 24, 2024 in Washington, DC. Anna Moneymaker | Getty Images Boeing CEO Dave Calhoun will step down at the end of 2024 in part of a broad management shake-up for … Read more
While the tech industry went gaga for generative artificial intelligence, one giant has held back: Apple. The company has yet to introduce so much as an AI-generated emoji, and according to a New York Times report today and earlier reporting from Bloomberg, it is in preliminary talks with Google about adding the search company’s Gemini … Read more
A Shell logo displayed on a sign at a gas station in Nakuru, Kenya. Sopa Images | Lightrocket | Getty Images British oil giant Shell on Thursday announced plans to moderate its near-term carbon emissions cuts, while maintaining its pledge to become a net-zero company by the middle of the century. In its latest energy … Read more
DUBAI, United Arab Emirates — Saudi oil giant Aramco on Sunday reported it made $121 billion in profit last year, down from its 2022 record due to lower energy prices. The results still marked the company’s second highest ever result, Aramco said, as members of the OPEC+ alliance continue to cut their production to try … Read more
Logo of Aramco, officially the Saudi Arabian Oil Group, Saudi petroleum and natural gas company, seen on the second day of the 24th World Petroleum Congress at the Big 4 Building at Stampede Park, on September 18, 2023, in Calgary, Canada. Artur Widak | Nurphoto | Getty Images Saudi Arabia’s state oil giant Aramco reported … Read more
HelloFresh shares plunged 42% on Friday in their worst-ever session to date, after the recipe box delivery company disappointed with its 2024 earnings outlook. Analysts at UBS said that while they had flagged risks around HelloFresh’s guidance, its outlook, released after the market close on Thursday, was “far worse” than anticipated. Disappointing growth and adjusted … Read more
Omar Marques | Sopa Images | Lightrocket | Getty Images Meta’s hefty investment in artificial intelligence includes development of an AI system designed to power Facebook’s entire video recommendation engine across all its platforms, a company executive said Wednesday. Tom Alison, the head of Facebook, said part of Meta’s “technology roadmap that goes to 2026” … Read more
Image: Photo: Shutterstock Graphics: Vicky Leta Renowned puzzler Peter Winkler invented the addictive word game, HIPE, with some friends when they were juniors in high school. While it may not have become the overnight success of Wordle, the game did earn Winkler admission to Harvard. According to his book, Mathematical Mind-Benders, he wrote a college … Read more