The Latest Breaking News from Wikimedia Commons

Microsoft Corp's (NASDAQ:MSFT) pitch to Brussels directly addressed competition worries with a clear geopolitical purpose prompted by recent complaints from smaller European cloud companies, the Financial Times reports.  Microsoft laid out a series of "principles" that it would follow out of respect for Europe's concerns.  Any customer who has paid to license…

Deckers Outdoor Corp (NYSE:DECK) reported fourth-quarter net sales growth of 31.2% year-over-year to $736 million, +31.7% on a constant currency basis, beating the consensus of $639.20 million. Wholesale net sales increased 37.6% Y/Y to $448.8 million, and Direct-to-Consumer increased 22.2% Y/Y to $287.2 million. Comparable DTC net sales increased 19.3% Y/Y. Sales…

Grab Holdings Limited (NASDAQ:GRAB) reported first-quarter FY22 revenue growth of 6% year-on-year to $228 million. Mobility segment acceleration and strong core food and groceries growth drove the growth as it expanded its merchant selection and contributions from Jaya Grocer. Revenue for Deliveries rose 70% Y/Y to $91 million, driven by continued growth in…

McDonald's Corp (NYSE:MCD) has entered into a sale and purchase agreement with its existing licensee Alexander Govor to sell its Russian business. The financial terms were not disclosed. Under this agreement, Govor will acquire McDonald's restaurant portfolio and operate the restaurants under a new brand. Govor has served as a McDonald's licensee since…

Georgia Governer Brian Kemp is set to announce a $7 billion investment by Hyundai Motor Company (OTC:HYMTF) on Friday, Reuters reported. The announcement is expected to coincide with U.S. President Joe Biden’s visit to Seoul. The auto giant is planning to build a plant in Georgia to produce electric vehicles (EVs). The report cited Atlanta…

Walmart Inc's (NYSE:WMT) Indian payments unit PhonePe will acquire two wealth management firms for a total enterprise value of $75 million, Bloomberg reports. PhonePe will buy WealthDesk for about $50 million and OpenQ for nearly $25 million. The acquisitions will help broaden PhonePe's offerings in India's budding payments market, where Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL)…

Stellantis NV (NYSE:STLA) is planning a reshuffle of its European dealers' network in 2023 from Austria, Belgium, and the Netherlands, Reuters reported. The company is looking to reshuffle dealers of its van and premium brands. The carmaker would end all current sales and services contracts with European dealers in an effort to…

Saudi Arabia's Public Investment Fund (PIF) scooped a 5.01% stake in Nintendo Co, Ltd (OTC:NTDOY), Reuters reports. PIF has also launched its own video game and e-sports company, Savvy Gaming. Also Read: Nintendo Declares 10-1 Stock Split After Posting 4% Sales Decline In FY22, Weaker Guidance PIF invested in video game companies Nexon Co Ltd (OTC: NEXOY), Capcom Co…

Target Corp (NYSE:TGT) reported first-quarter FY22 sales growth of 4% year-on-year to $25.17 billion, beating the consensus of $24.37 billion. Comparable sales grew 3.3%. Comparable store sales increased 3.4%, and comparable digital sales rose 3.2%. Sales by stores constituted 81.8% of total sales, while digital channel sales represented 18.2%. Gross margin for the…

CMA CGM, a French shipping company, invests in Air France-KLM (OTC:AFLYY) as part of an air cargo partnership, counting on growing demands for flying goods worldwide while supply chains remain snarled in the aftermath of the pandemic, Reuters reported. CMA CGM will take up to 9% of Air France-KLM, worth ~€240 million ($252…

Toyota Motor Corp's (NYSE:TM) Europe business, Air Liquide SA (OTC:AIQUF), and CaetanoBus have signed a Memorandum of Understanding intending to develop integrated hydrogen transport solutions.  The companies will focus on infrastructure connected to distribution and refueling; low-carbon and renewable hydrogen production; and deploying hydrogen in various vehicle types. The initial focus would be on buses, light commercial vehicles,…