Business Emerge, July 25: In a troubling turn for major tech players, Tesla and Alphabet have delivered underwhelming earnings reports, sending their stock values into a tailspin. Tesla’s shares plummeted by over 7% in after-hours trading on the back of disappointing Q2 results, revealing a continued decline in electric vehicle (EV) sales. Alphabet also saw a 2% drop in its stock after falling short of expectations with its YouTube advertising revenue. This negative sentiment is influencing Wall Street’s outlook, suggesting a potential decline in European markets, compounded by lackluster performance from LVMH. Tesla Encounters Growth Challenges in EV Market Tesla’s…
Author: Emily Thompson
UK (Business Emerge), July 25: European banks have recently disclosed their earnings for the first half of 2024, showcasing a spectrum of performance outcomes. Notable institutions such as Deutsche Bank, BNP Paribas, Banco Santander, Lloyds, and UniCredit have updated stakeholders on their financial standings. Deutsche Bank’s Performance Deutsche Bank’s operating results for H1 2024 showed moderate strength, with profit before tax reported at €2.4 billion, or €3.8 billion excluding the Postbank litigation provision. This represents a slight decrease from the €3.3 billion recorded in the first half of 2023. The bank had earlier indicated that the Postbank provision would affect…
London (Business Emerge), July 25: In a remarkable third-quarter performance, EasyJet has reported a substantial 16% increase in year-over-year profits, driven by high summer travel demand. For the three months ending June 30, the airline’s profit before tax soared to £236 million (€280 million), surpassing the £203 million (€241 million) recorded during the same period last year. The company remains optimistic about its fiscal outlook for 2024. The airline’s revenue for the quarter reached £2.63 billion, marking an 11% rise from the previous year and aligning with expectations. Passenger revenue, which constitutes 61% of the total revenue, saw a 7%…
In a major crackdown on online sexual extortion, commonly known as sextortion, Meta has removed thousands of Facebook accounts tied to these malicious activities. Sextortion involves deceiving individuals into sharing explicit images online and then threatening to release these images unless the victim either pays money or engages in sexual acts. Recent cases of sextortion have garnered significant attention, including incidents involving Nigerian brothers who admitted to sexually extorting young men and teens in Michigan—one of whom tragically took his own life. Another notable case involved a sheriff’s deputy from Virginia who sexually extorted and abducted a 15-year-old girl. According…
New York (Business Emerge), July 25: Delta Airlines is currently under investigation as it continues to deal with the aftermath of a global IT failure that occurred last week. The company, which has canceled over 5,000 flights since Friday, has been directed by Transportation Secretary Pete Buttigieg to offer refunds and other compensations to passengers affected by the disruptions. Despite its efforts to normalize operations, Delta has indicated that it may take several additional days to fully resume its services. The airline has already seen over 400 flights canceled and numerous delays as of Tuesday morning, following over 1,150 cancellations…
PARIS (Business Emerge), July 25: As China’s economic challenges persist, the luxury goods market is facing significant setbacks. In recent reports, it has been revealed that major luxury brands are experiencing a downturn in sales, particularly in the Asian market, excluding Japan. LVMH, the world’s leading luxury conglomerate, reported a 14% drop in sales in Asia for the three-month period ending in June, a decline that has worsened from the 6% drop observed in the first quarter of the year. The Paris-based company has also noted that overall revenue growth has decelerated to just 1% for this period. Despite these…
USA (Business Emerge), July 25: In an unexpected turn of events, Donald Trump, who faced widespread rejection from the business community during his presidency, is now garnering notable support from Silicon Valley’s elite as his bid for the White House gains momentum. This recent backing comes as a stark contrast to the tech industry’s previous stance, which saw many distancing themselves from Trump following the 2021 Capitol riot. This month, Elon Musk, the world’s richest individual, has publicly endorsed Trump and engaged in fundraising efforts on his behalf. Musk’s support underscores a broader trend of influential tech figures rallying behind…
Washington, D.C. (Business Emerge) July 25: The Federal Aviation Administration (FAA) announced on Wednesday that it will extend the minimum rest periods between shifts for air traffic controllers. This decision follows recent high-profile incidents involving near-misses between aircraft under the supervision of controllers. The FAA and the National Air Traffic Controllers Association (NATCA), the union representing these professionals, have agreed to several new provisions that will be implemented as part of the scheduling for the upcoming year. FAA Administrator Mike Whitaker emphasized the importance of addressing controller fatigue, stating, “The evidence is unequivocal that fatigue among controllers poses a significant…