Rivian confirmed layoffs affecting less than 2% of its workforce, impacting service and customer teams, just a week after starting R2 SUV deliveries. This is the fourth round of cuts in 2024, aimed at boosting efficiency as the company pushes back its profitability goal.
LIV Golf CEO Scott O'Neil stated on CNBC that the circuit could be profitable in three years with its new model by 2027. The Public Investment Fund (PIF) of Saudi Arabia has committed to funding only until the end of the current season, with LIV awaiting $400 million for final tournaments.
XRP's on-chain activity has significantly declined since its 2025 peak, with network fees dropping 91.5% and the profit-to-loss ratio falling to 0.38. This suggests a shift from profit-taking to network capitulation, with traders eyeing the $1.00-$0.65 region for accumulation.
South Korean stocks plummeted 8.29% on Monday due to concerns over AI profitability and a potential hawkish pivot by the US Federal Reserve
Chery, China's largest car exporter, sold three times as many vehicles overseas as domestically in May, with international sales comprising 73% of its total. This trend mirrors other Chinese automakers like BYD and Great Wall Motor, who are also expanding globally.
Amazon is pivoting its India strategy from rapid growth to profitability under new leadership. Facing strong competition from Flipkart and Reliance Retail, the company is re-evaluating investments and operations to navigate India's complex market and regulatory landscape.
Inditex reported record profitability for Q1 2026, with net profit up 5.4% to €1.375 billion. Revenue grew 5.8% to €8.750 billion, driven by strong collections and an integrated business model. The company plans €2.3 billion in investments for the fiscal year.
Deutsche Bank's supervisory board chairman, Alexander Wynaendts, is set to receive a significant pay raise to €1.15 million annually, sparking controversy. Despite the bank's complex operations and past scandals, its profitability lags behind top European competitors, making such high executive compensation questionable.
Australia's property market is experiencing a shift following tax reforms that limit negative gearing for new investors. Auction clearance rates have dropped, prices are falling in some cities, and analysts predict declines of up to 10%. While rising interest rates and economic outlook also contribute, the reforms aim to curb speculation and improve affordability for first-time buyers.
Australia's property market is experiencing a slowdown following tax reforms that limit negative gearing for new investors. Auction clearance rates have dropped, and some analysts predict price declines, though underlying housing shortages and demand-side measures may limit the fall.
Russia's banking sector is projected to net 3.7-3.9 trillion rubles ($51.3-$54.1 bln) in 2026, driven by lower key interest rates boosting lending and positive revaluation of debt securities, according to Expert RA CEO Marina Chekurova.
Cruise 2027 shows reveal fashion houses like Chanel and Dior reinforcing brand identity through symbolic locations, while Gucci under Demna embraces mass consumption in Times Square to boost flagging sales. The collections highlight a strategic shift in fashion marketing.
Dick's Sporting Goods reported Q1 earnings miss due to $96.5M in Foot Locker acquisition costs, despite Foot Locker's 0.6% comparable sales growth and Dick's own 6% growth, leading to a combined 4.1% increase.
LG Innotek's stock price surged past 1 million won, reaching 'King Stock' status, driven by positive analyst evaluations of its substrate business, particularly package substrates, and expectations for improved profitability and market share expansion.
A prolonged West Asia conflict could reduce India Inc's operating profitability by 200 basis points due to supply chain issues and rising costs, Crisil Ratings predicts. Despite this, strong company balance sheets are expected to maintain overall credit quality, though sectors like ceramics and airlines face severe stress.
A prolonged West Asia conflict could reduce India Inc's operating profitability by 200 basis points due to supply chain issues and rising costs, Crisil Ratings predicts. Despite this, strong company balance sheets are expected to maintain overall credit quality, though sectors like ceramics and airlines face severe stress.
Zelos Technology, a Chinese robovan firm, believes Southeast Asia and the Middle East offer double the revenue potential compared to its domestic market. The company, which merged with Cainiao's autonomous vehicle unit, sees international expansion as crucial for profitability and competitiveness, emphasizing AI capabilities.
SpaceX's IPO filing details $131m in Cybertruck purchases, risks associated with its xAI Grok chatbot's explicit content generation, and significant financial losses, raising questions about future profitability.
Nio's VP Ji Huaqiang stated the EV maker must prioritize profitability as material costs rise, contrasting with rivals like Li Auto. Nio's new ES9 SUV will be priced higher than Li Auto's L9, despite consumer preference for lower-cost options amid economic concerns.
LinkedIn is laying off approximately 875 employees (5% of its global workforce) across its Global Business Organization, marketing, engineering, and product teams as part of organizational changes to position itself for future success.
Alibaba's stock rallied 7.5% after the company expressed confidence in its AI investments, despite reporting an 84% year-over-year drop in adjusted EBITA to 5.1 billion CNY due to heavy tech investments.
EFL Championship clubs vote on adopting a squad cost ratio system (85% of football revenue) to replace profitability and sustainability rules, while League One clubs consider reducing salary cost management protocol from 60% to 50% of turnover, amid differing financial strategies and regulatory alignments.
Alibaba's core profitability (adjusted EBITA) dropped to 5.1 billion CNY ($750.9M) in the March quarter due to significant tech and e-commerce investments, causing a 3.4% decline in U.S.-listed shares.
JD.com reported a 53.2% year-on-year drop in first-quarter profit to 5.1 billion yuan as prolonged competition in e-commerce and food delivery hurt earnings. Revenue still rose 4.9% to 315.7 billion yuan.
