Business

Shell’s profit doubles to record high as war hikes energy prices

West News Wire: As the oil supermajor benefited from the spike in energy prices brought on by Russia's invasion of Ukraine, Shell reported record earnings of nearly £10 billion between April and June and planned to pay out dividends...

PayPal, the tech giant to sack 7% of workforce

West News Wire: In an effort to decrease expenses, American multinational financial technology company PayPal has announced a wave of layoffs that would affect almost 2,000 workers. PayPal is one of the numerous tech companies to make similar announcements. President...

Iran and Russia replace SWIFT links over 800 banks

West News Wire: According to the deputy governor of the Central Bank of Iran (CBI), as many as 700 Russian banks and 106 foreign banks from 13 different countries are able to communicate financially with Iranian banks. On Sunday, the...

Economy of Philippines grows at quickest rate in forty years

West News Wire: The Philippine economy finished 2022 with the highest growth in more than 40 years, supported by a strong last quarter. However, analysts and policymakers warn that the coming year would be challenging due to the global...

Adani Group of India loses $48bn in stock over claims of fraud

West News Wire: After a US investment firm said that Gautam Adani, the richest man in Asia, had engaged in "brazen" corporate fraud, shares of his business empire fell, resulting in losses of $48 billion. After Hindenburg Research raised concerns...

Microsoft to fire 10,000 people, extending job cuts in tech

West News Wire: As its cloud computing clients analyze their spending and the business prepares for a potential recession, Microsoft Corp. has announced it will cut 10,000 positions and incur a $1.2 billion loss. The layoffs, which were announced on...

US retail sales drop in December, beats forecast

West News Wire: Retail sales in the United States decreased more than anticipated in December, with losses in purchases of cars and various other commodities being the main contributors. This puts consumer spending and the economy as a whole...

India approves $2.4bn incentive program for green hydrogen sector

West News Wire: In an effort to reduce emissions and establish itself as a major exporter of green hydrogen, India authorized an incentive program worth 197.4 billion rupees ($2.4 billion) on Wednesday. Hydrogen that is renewable or "green" can be...

Germany and Iraq in negotiations about potential gas imports

West News Wire: Chancellor Olaf Scholz said on Friday that Germany is in discussions with Iraq about the prospect of importing natural gas from the oil-rich nation as Berlin works to diversify its energy supplies to replace a decline...

Tim Cook, the CEO of Apple to receive pay cut of more than 40%

West News Wire: Apple CEO Tim Cook will receive a pay reduction of more than 40% from the previous year as a result of changes made to the way his remuneration is determined, some of which were suggested by...
- Advertisement -spot_img

Latest News

Ilhan Omar will be dismissed by Republicans from House foreign affairs committee

West News Wire: Republicans want to remove Minnesota Democrat Ilhan Omar from the House foreign affairs committee on Thursday....
- Advertisement -spot_img