The Latest Breaking News from Wikimedia Commons

Baidu, Inc (NASDAQ:BIDU) reported first-quarter FY22 revenue growth of 1% year-on-year to $4.48 billion, beating the consensus of $4.18 billion.  Segments: Baidu's Core revenue increased 4% Y/Y to $3.37 billion; Online marketing revenue declined 4% Y/Y to $2.47 billion, and Non-online marketing revenue jumped 35% Y/Y to $903 million, driven by cloud and other AI-powered businesses.…

Sony Group Corp's (NYSE:SONY) PlayStation division looks to acquire more game studios and increase investment in live services, PC and mobile offerings, its gaming chief said, Bloomberg, reports. Sony is yet to expand PlayStation Studios inorganically and will look to keep forging deals, Jim Ryan said. Sony spent nearly half its PlayStation…

Macy’s Inc (NYSE:M) reported first-quarter FY22 sales growth of 13.6% year-on-year to $5.35 billion, beating the consensus of $5.33 billion. Comparable sales increased 12.8% on an owned basis and up 12.4% on an owned plus licensed basis versus Q1 2021. Digital sales climbed 2% versus Q1 FY21 and 34% versus Q1 FY19. The…

Ryanair Holdings (NASDAQ:RYAAY) Chief Executive Michael O'Leary stated on Wednesday that bookings for the summer looked very strong, adding that the load factor should gradually rise to 94-95% in June-August, approaching pre-COVID-19 pandemic levels, reported Reuters. O'Leary told Reuters that the airline was likely to end this month with just over 15…

Hyundai Motor Co (OTC:HYMTF) will recall 281,000 vehicles in North America over fears of seat-belt pretensioners exploding, Reuters reported. The report noted that there were three injury reports caused by the explosion of seat-belt pretensioners, projecting the metal fragments. The recall will include some 2019-2022 Accent, 2021-2023 Elantra, and 2021-2022 Elantra hybrid vehicles. …

A regulatory filing shows that Nelson Peltz is considering a potential takeover bid for Wendy's Co (NASDAQ:WEN). Peltz' firm, Trian Fund Management, said it will explore a transaction on its own or with third parties that could include an acquisition, merger, or other transaction. Trian, along with its partners, owns a 19.4% stake in…

Nike Inc (NYSE:NKE) has not renewed agreements with its largest franchisee in Russia, Reuters reported, quoting Vedomosti daily newspaper. The U.S. sportswear maker suspended its Russia operations temporarily in March due to Russia's invasion of Ukraine. The head of Inventive Retail Group (IRG), which operates Nike-branded stores in Russia, reportedly said Nike…

Bolthouse Farms has signed a definitive agreement to acquire the Evolution Fresh brand and business from Starbucks Corp (NASDAQ:SBUX) for an undisclosed amount. Evolution Fresh is a producer of primarily organic, cold-pressed, premium juice products. Bolthouse Farms, a portfolio company of private equity firm Butterfly, aligns powerhouse juice brands to propel Evolution Fresh forward.…

Stellantis NV (NYSE:STLA) and Samsung SDI have signed a binding, definitive agreement to establish an electric-vehicle battery manufacturing facility in Kokomo, Indiana. The joint venture will invest more than $2.5 billion (€2.3 billion) and create 1,400 new jobs in Kokomo and the surrounding areas. The investment could gradually increase up to $3.1 billion (€2.9…

Toyota Motor Corp (NYSE:TM) plans to cut global production by about tens of thousands of units to roughly 850,000 vehicles in June due to the semiconductor shortage. The auto major expects to produce 9.7 million units for the full period of the fiscal year 2023. The average global production plan from June through…

Samsung Electronics Co, Ltd (OTC:SSNLF) looks to invest 450 trillion won ($356 billion) in the next five years to accelerate growth in semiconductors, biopharmaceuticals, and other next-generation technologies, Reuters reports. The investments through 2026 will likely help Samsung drive long-term growth in strategic areas like the chip sector while pledging aggressive investments…