Business
Latest stories
Poland probes state refiner's reported Hezbollah links

Polish prosecutors on Tuesday said they were investigating the Swiss unit of state-controlled refiner PKN Orlen for reported links with Lebanon’s Hezbollah.

W140 Full Story
Samsung reports 10-fold increase in profit as AI drives rebound in memory chip markets

Samsung Electronics on Tuesday reported a 10-fold increase in operating profit for the last quarter as the expansion of artificial intelligence technologies drives a rebound in the markets for computer memory chips.

The South Korean semiconductor and smartphone giant said its operating profit for the Jan-March quarter came in at 6.6 trillion won ($4.8 billion), up from the 640 billion won ($465 million) it earned during the same period last year.

W140 Full Story
Mexico proudly controls energy but finds it hard to reach climate goals

Mexico's taking control of its oil sector from U.S. and British companies is taught in schools and celebrated every year. The 1938 nationalization is a point of pride for millions of Mexicans including President Andrés Manuel López Obrador.

The popular president hails from the Mexican oil industry's heartland, and 16 years ago he led a fight against energy reforms that were aimed at drawing private investment to the massive state-run oil company, Pemex. This year, the front-runner in the race to replace López Obrador chose the anniversary of Mexico's oil expropriation to announce her energy proposals, which include maintaining large-scale petroleum production by Pemex.

W140 Full Story
Poland still not ready to adopt the euro, its finance minister says

Twenty years after joining the European Union, Poland is still not ready to adopt the euro currency, the finance minister in the pro-European Union government said.

Andrzej Domański, finance minister in the Cabinet of Prime Minister Donald Tusk, said in an interview on TVN24 on Monday that Poland joining the eurozone, the currency union of 20 EU members, is not justified at this time.

W140 Full Story
McDonald's posts weaker-than-expected Q1 results as boycotts weigh on sales

McDonald's said higher U.S. sales in the first quarter helped it overcome weakness in the Middle East and other markets where consumers have been boycotting the brand.

The Chicago burger giant said its same-store sales – or sales at stores open at least a year -- rose 1.9% worldwide in the January-March period. That was below Wall Street's forecast of a 2.1% increase, according to analysts polled by FactSet.

W140 Full Story
Dubai plans to move its airport to $35 billion new facility within 10 years

Dubai International Airport, the world's busiest for international travel, will move its operations to the city-state's second, sprawling airfield in its southern desert reaches "within the next 10 years" in a project worth nearly $35 billion, its ruler said Sunday.

W140 Full Story
Affluent Americans are driving US economy and likely delaying need for Fed rate cuts

Since retiring two years ago, Joan Harris has upped her travel game.

Once or twice a year, she visits her two adult children in different states. She's planning multiple other trips, including to a science fiction convention in Scotland and a Disney cruise soon after that, along with a trip next year to neolithic sites in Great Britain.

W140 Full Story
Musk visits China as competitors show off new electric vehicles at Beijing auto show

Tesla CEO Elon Musk met with a top government leader in the Chinese capital Sunday, just as the nation's carmakers are showing off their latest electric vehicle models at the Beijing auto show.

Chinese Premier Li Qiang told Musk that he hopes the U.S. will work more with China on "win-win" cooperation, citing Tesla's operations in China as a successful example of economic cooperation, China's state broadcaster CCTV said on its main evening news program.

W140 Full Story
Rooting for Trump to fail has made his stock shorters millions

Rooting for Donald Trump to fail has rarely been this profitable.

Just ask a hardy band of mostly amateur Wall Street investors who have collectively made tens of millions of dollars over the past month by betting that the stock price of his social media business — Truth Social — will keep dropping despite massive buying by Trump loyalists and wild swings that often mirror the candidate's latest polls, court trials and outbursts on Trump Social itself.

W140 Full Story
5 cars from the Beijing auto show that reflect China's vision for the future of driving

China's vision of the future of the automobile — electrified and digitally connected — is on display at the ongoing Beijing auto show.

Organizers say that 117 new models are making their debut at Auto China 2024, which runs through May 4. They range from eye-poppingly cutting edge to more subtle novelties.

W140 Full Story