Warren Buffett’s Berkshire Hathaway said Thursday it will acquire Occidental Petroleum’s chemical business, OxyChem, for $9.7 billion in cash, marking its largest takeover since the $11.6 billion purchase of insurer Alleghany in 2022.The deal adds to Occidental’s efforts to reduce its heavy debt burden and signals Berkshire’s willingness to deepen…
OpenAI has become the world’s most valuable startup after closing a secondary share sale that allowed its employees to sell about $6.6 billion worth of stock, according to a Bloomberg exclusive.The deal valued the company at $500 billion, overtaking Elon Musk’s SpaceX and establishing OpenAI as the top privately held…
Alibaba stock price continued it strong rally in Hong Kong after JPMorgan analysts boosted their target. BABA shares have jumped in the last four consecutive weeks and are trading at the highest level since August 2021. They have soared by nearly 200% from the lowest level in 2024. JPMorgan analysts have…
A powerful and defiant wave of optimism has swept across European markets at the open on Thursday, with stocks surging as investors brazenly shrug off the political chaos of a US government shutdown. The investors have instead choose to focus on a potent cocktail of strong corporate earnings and the…
Tesco share price remained in a tight range on Thursday after the company published strong financial results and lifted its outlook. TSCO was trading at 435p, down slightly from the year-to-date high of 448p. It has jumped by over 40% from its lowest level this year.Tesco reports strong financial resultsTesco,…
Tesco, Britain’s largest supermarket group, raised its full-year profit forecast on Thursday after a strong first half in which hot weather and competitive pricing helped it win market share from rivals.The group, which holds 28.4% of Britain’s grocery market, said it now expects adjusted operating profit for the 2025/26 year…
Chinese automakers are steadily reshaping Europe’s hybrid car market, seizing a record 9.8% share of sales in August. The surge highlights a strategic pivot by companies like BYD, SAIC’s MG, and Zhejiang Leapmotor as European Union tariffs weigh heavily on imports of fully electric vehicles. While electric vehicle sales remain…
A high-volume cyberattack has put global corporations on alert as hackers linked to the Cl0p ransomware gang target executives through extortion campaigns. The attackers claim to have stolen sensitive data from Oracle’s E-Business Suite applications, which are widely used to manage financial transactions, supply chains, and customer records. According to…
In September, India’s diesel exports to Europe likely reached an unprecedented peak. The surge in exports was driven by traders capitalising on strong profits in Western markets during a period of refinery maintenance, according to data from shiptrackers and trade sources quoted in a Reuters report.In September, Europe received between 1.3…
The European Union is planning to significantly raise tariffs on steel imports, proposing to hike the rate to 50%, a Bloomberg report said on Thursday.The proposed moves aligns the EU’s stance with the United States, which has already imposed heavy tariffs to counter overcapacity and dumping of cheap steel, particularly…