KPMG Australia is under fire for leaking confidential client data (Lendlease, Optus, Westpac, Dexus, Telstra) to aid in lucrative audit contract bids, while allegedly retaliating against a whistleblower who reported the misconduct, leading to resignations and calls for regulatory reform.
Trip.com reported a 17% rise in first-quarter revenue to 16.2 billion yuan but a 42% profit drop to 2.5 billion yuan, its lowest since late 2024. The company forecast weaker Q2 growth and warned that an ongoing antitrust investigation could lead to significant fines or changes to business practices.
Leaked financial documents reveal OpenAI's revenue surged from $3.7B in 2024 to $13.07B in 2025, but expenses, particularly R&D, grew even faster, leading to significant operating losses. The company aims for profitability by 2030.
South Korea's managed fiscal balance showed a deficit of 36.6 trillion won as of end-April 2026, an improvement of 9.5 trillion won from the previous year, driven by robust tax revenue growth, particularly from corporate and income taxes.
Victor Montagliani, Concacaf president and Fifa vice president, believes the World Cup will spark a cultural revolution in North American football, potentially making MLS rival the Premier League, while defending the tournament's pricing strategy and discussing future expansion plans.
Despite trade tensions and US export restrictions, 26 US semiconductor firms, including Qualcomm and Nvidia, experienced an average 20% revenue increase in China last year, according to the Hurun Research Institute.
German industry revenue grew 1.7% in Q1, the first increase since mid-2023, but 127,300 jobs were lost, with the automotive and mechanical engineering sectors hit hardest. High costs and competition remain challenges.
Lenovo's shares jumped 19.32% after the company reported a 27% year-on-year revenue increase to $21.6 billion for the March quarter, driven by an 84% surge in AI-related revenue. Net income rose significantly to $521 million.
Lenovo's shares jumped over 15% after reporting a 27% year-on-year revenue increase to $21.6 billion for the March quarter, driven by an 84% surge in AI-related revenue. The company aims to reach $100 billion in market cap within two years.
Microsoft-owned LinkedIn is cutting over 600 jobs this summer, with California employees bearing the brunt. Around 606 employees were notified of permanent job cuts effective July 13, impacting various offices, particularly Mountain View.
Soluna Holdings saw a 58% year-over-year revenue increase to $9.4 million in Q1, driven by data center operations. However, net losses widened to $17.9 million, while crypto mining revenue declined amid industry pressures.
Johnson & Johnson's new psoriasis pill, Icotyde, launched after FDA approval in March, aims to replace declining Stelara sales. Analysts are cautiously optimistic, questioning its adoption against injectables despite its potential for significant revenue.
Tencent's Q1 2026 revenue grew 9% to 196.5 billion CNY, missing analyst estimates of 199 billion CNY, despite progress in AI products and core business growth.
AI giants OpenAI and Anthropic are intensifying their competition by launching new ventures aimed at boosting enterprise AI adoption. Both companies have secured significant funding from major financial institutions to help businesses integrate their AI tools into daily operations. This strategic move prioritizes real-world usage and revenue growth as both firms reportedly explore public listings.
AI giants OpenAI and Anthropic are intensifying their competition by launching new ventures aimed at boosting enterprise AI adoption. Both companies have secured significant funding from major financial institutions to help businesses integrate their AI tools into daily operations. This strategic move prioritizes real-world usage and revenue growth as both firms reportedly explore public listings.
Palantir reported better-than-expected revenue and profit, driven by growth in sales to U.S. government agencies.
Apple shares jumped over 3% Friday after the tech giant reported better-than-expected Q2 results and issued Q3 revenue guidance of 14-17% growth, far exceeding analyst projections of 9.5%. CEO Tim Cook, stepping down in September after 15 years, highlighted record demand for the iPhone 17 lineup and strong response to the new MacBook Neo. Revenue rose 17% to $111.18B, with services revenue up 16% to $30.98B and gross margin reaching 49.3%.
Apple shares jumped over 4% on Thursday, headed for the sharpest rally since August, after the iPhone maker reported better-than-expected quarterly results with revenue of $111.18 billion (up 17% year-over-year) and issued guidance for the fiscal third quarter projecting 14-17% growth, far exceeding analysts' 9.5% estimate. CEO Tim Cook, announcing his departure in September after 15 years, highlighted strong demand for the iPhone 17 lineup and the newly released MacBook Neo. Services revenue rose 16% to $30.98 billion, while gross margin reached 49.3%.
Apple reported fiscal Q2 earnings beating estimates with EPS of $2.01 vs $1.95 expected and revenue of $111.18B vs $109.66B expected. The stock rose 5% in extended trading. iPhone revenue missed estimates ($56.99B vs $57.21B) for the second time in three quarters, though all other categories beat. The company issued June quarter guidance of 14-17% revenue growth, well above the 9.5% analysts expected. Apple announced a $100B stock repurchase and 4% dividend increase. CEO Tim Cook will step down after 15 years, succeeded by John Ternus on Sept. 1.
Apple reported fiscal Q2 earnings of $2.01 EPS and $111.18 billion revenue, both beating analyst estimates. iPhone revenue of $56.99 billion missed expectations for the second time in three quarters, while services revenue surged to $30.98 billion. The results mark CEO Tim Cook's final quarterly report before stepping down Sept. 1, with incoming CEO John Ternus set to lead the company's AI strategy including a new Google Gemini partnership.
Alphabet's Google Cloud has surged ahead in the AI race, reporting impressive revenue growth. This performance outshines competitors Microsoft Azure and Amazon AWS. Google's unique 'full-stack' approach, including custom AI chips and advanced models, is attracting major clients. The tech giants are collectively investing over $700 billion in AI infrastructure this year.
Google Cloud reported blowout Q1 2026 with revenues exceeding $20 billion, up 63% year-over-year, driven by AI solutions growing nearly 800%. CEO Sundar Pichai noted compute constraints limiting potential revenue, with backlog doubling to $462 billion. Gemini Enterprise grew 40% quarter-over-quarter, and the company signed multiple billion-dollar-plus deals.
AWS revenue rose to $37.59 billion in Q1, up 28% year-over-year, beating analyst estimates of $36.64 billion. The cloud unit's operating income jumped 23% to $14.16 billion, exceeding StreetAccount's $12.84 billion consensus. Amazon announced expanded investments in OpenAI ($100 billion over 8 years on top of existing $38 billion commitment) and Anthropic (up to $25 billion additional investment). AWS faces increasing competition from Microsoft Azure (+40%) and Google Cloud (+63%).
