Posts by Stephanie Irvin
Visa profit climbs on cross-border growth, beating estimates
VISA reported a fiscal first-quarter profit that exceeded Wall Street estimates as the world’s biggest payments network posted double-digit increases in cross-border volumes and processed transactions. Adjusted net income rose 11 per cent to US$5.46 billion, or US$2.75 a share, the San Francisco-based company said on Thursday in a statement. That beat the US$2.66 average…
Read MoreChina’s big EV push into Europe fizzles out on tariffs, slowdown
FIVE years of rapid European growth for Chinese electric-car manufacturers ground to a halt in 2024, as trade barriers added to the challenge of building up sales in a stagnant market. Brands led by Saic Motor’s MG registered 3.5 per cent fewer electric vehicles (EVs) in the region for all of 2024, according to data…
Read MoreToyota sells 10.8 million vehicles in 2024 to remain world’s top-selling automaker
TOYOTA Motor sold 10.8 million vehicles in 2024, it said on Thursday (Jan 30), remaining the world’s top-selling automaker for a fifth straight year. The Japanese automaker posted a 3.7 per cent drop in global group unit sales last year, including those of compact car maker Daihatsu and truck unit Hino Motors. The decline was…
Read MoreMicrosoft, Meta CEOs defend hefty AI spending after DeepSeek stuns tech world
DAYS after Chinese upstart DeepSeek revealed a breakthrough in cheap artificial intelligence (AI) computing that shook the US technology industry, the chief executives of Microsoft and Meta defended massive spending that they said was key to staying competitive in the new field. DeepSeek’s quick progress has stirred doubts about the lead America has in AI…
Read MoreLevi’s bleak 2025 profit forecast after strong holiday quarter hits shares
LEVI Strauss forecast annual profit well below analysts’ estimates, taking a cautious stance despite a strong holiday quarter and sending its shares down about 8 per cent in extended trading on Wednesday (Jan 29). The company’s struggling US wholesale business returned to revenue growth after six quarters of decline, as newness in its collections, including…
Read MoreIEA comes under pressure from former oil market chief to cut energy transition focus
THE International Energy Agency’s (IEA) former oil industry and market chief criticised the agency’s focus on the global energy transition in a report released on Wednesday (Jan 29), and said the IEA should concentrate on oil and gas supplies. The IEA is under fire from the administration of US President Donald Trump for a shift…
Read MoreIBM beats profit estimates as AI shift boosts software performance, shares surge
IBM surpassed fourth-quarter profit estimates on Wednesday (Jan 29), driven by robust demand in its software unit as businesses ramped up IT spending, sending the company’s shares soaring about 10 per cent in extended trading. The software segment recorded its biggest revenue jump in five years, as customers prioritised spending on cloud infrastructure amid a…
Read MoreTesla commits to cheaper cars in first half, but results miss targets
TESLA said it was on track to roll out new, cheaper electric vehicle (EV) models in the first half of 2025, as its quarterly profit and revenue fell short of Wall Street expectations on Wednesday (Jan 29) due to discounts and financing offers. Tesla’s market value has soared with the election of US President Donald…
Read MoreEurope: Tech stocks lift Stoxx 600 to record high; US Fed in focus
EUROPEAN shares closed at a record high on Wednesday (Jan 29), boosted by technology stocks following strong results from chip equipment maker ASML, while investors shifted their focus to a monetary policy verdict by the US Federal Reserve. The pan-European Stoxx 600 was up 0.5 per cent, logging its biggest one-day jump in more than…
Read MoreCloud vs. Virtual: What You Don’t Know Could Cost You
Are you trying to figure out the whole cloud computing vs. virtualization thing, huh? It’s a big deal, especially if you want to save cash or get the best performance for your buck. Cloud computing and virtualization might sound like techy buzzwords, but they actually mean a lot in terms of how you run your…
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