Tesla CEO becomes sole director of social media giant after finalising $44bn takeover. The billionaire took over the social media company last week, ending months of back and forth over…
Category: Business News
China: Meth worth more than $100m sized in Hong Kong
Hong Kong has made its biggest-ever seizure of methamphetamine after uncovering a shipment arriving from Mexico worth about 1.1 billion Hong Kong dollars ($140m), authorities said on Saturday. Customs officials…
Iraq: Fuel tanker explosion in Baghdad kills nine, wounds many
A gas tanker has exploded in the Iraqi capital, Baghdad, killing at least nine people and injuring several others, security forces said. The explosion, which was heard across much of…
Egypt: Local pound at record low after $3bn IMF deal announcement
Egypt’s pound slid about 14.5 percent to a record low against the United States dollar after authorities announced a $3bn International Monetary Fund (IMF) deal with a commitment to a…
USA: Elon Musk takes over Twitter in $44bn deal and fires CEO
Elon Musk has officially taken control of Twitter after finalising a $44bn deal to buy the social media network. He has kicked off his tenure as the new owner of…
Zambia: World Bank issues $270m for Covid, debt recovery
The World Bank says it has approved a $270m (£232m) loan to Zambia to help it recover from the effects of the coronavirus pandemic, the economic impact of the war…
USA: Facebook, WhatsApp and Instagram’s parent company Meta sees a shrink in revenue and profits
Facebook and Instagram’s parent company Meta said revenue fell 4% in the three months from July through September compared to a year earlier. The announcement caused shares to plunge on…
South Korean: Samsung appoints heir to top job
South Korean electronics giant Samsung has named heir and de facto boss Lee Jae-yong as its executive chairman. The symbolic move means the world’s biggest smartphone maker will now be…
Austria: Dietrich Mateschitz- Red Bull co-owner & energy drink giant dies aged 78
Red Bull co-owner Dietrich Mateschitz, a major global business figure as a result of his energy drinks empire, has died aged 78. Mateschitz was the driving force behind the establishment…
USA: Tesla sales climb but miss expectations
Supply shortages, logistics bottlenecks and rising costs are hitting Tesla as it rapidly ramps up production of its electric cars. While the problems have improved in recent months, they remain…