Saudi Aramco profits jump 39% on high oil prices

Saudi Aramco profits jump 39% on high oil prices

Saudi Arabia’s national oil company posted a 39% jump in quarterly profit on Tuesday as high oil prices boosted earnings that are helping the kingdom pay for an ambitious economic transformation plan at home and expand its diplomatic influence in the region. Aramco, officially named Saudi Arabian Oil Co., said its net income totaled $42.43 … Read more

Chip Maker TSMC Weighs Expansion in Japan to Reduce Geopolitical Risk

Chip Maker TSMC Weighs Expansion in Japan to Reduce Geopolitical Risk

TOKYO—Taiwan Semiconductor Manufacturing Co. is considering expanding its manufacturing capacity in Japan, people familiar with the matter said, in what would be a move by the world’s largest contract chip maker to reduce geopolitical risk. The Japanese government has signaled that it wants TSMC TSM -0.51% to expand in the country beyond a factory already … Read more

Juul CEO tells staff that Vaping Company must keep fighting

Juul CEO tells staff that Vaping Company must keep fighting

Juul Labs Inc.’s chief executive told employees Thursday that the company is scrapping plans for an overseas expansion, has refinanced some of its debt and is fighting for its survival. “The board, the management team and I continue to weigh all options to ensure that we take the necessary steps that help us in our … Read more

Eataly near trade selling majority stake

Eataly near trade selling majority stake

Italian food hub Eataly in New York City is one of about 40 locations around the world. Photo: Drew Angerer/Getty Images 20 September 2022 at 9:40 p.m. ET A European private equity fund is close to a deal to buy a controlling stake in Eataly SpA, aiming to help the Italian marketplace chain continue to … Read more

Ralph Lauren has an ambitious new look

Ralph Lauren has an ambitious new look

Ralph Lauren RL -2.35% started as a tie company 55 years ago before eventually becoming known for its iconic polo shirt. The brand now wants to keep the spirit of this expansion going, focusing on women’s clothing and less traveled cities like Atlanta and Houston. At an investor day on Monday, Ralph Lauren set a … Read more

The Chinese investment bank CICC is planning a large capital raising to strengthen the business

The Chinese investment bank CICC is planning a large capital raising to strengthen the business

China’s international capital corp. 3908 -7.95% one of the country’s largest investment banks, said it plans to raise billions of dollars to bolster its business as it grapples with increasing competition from foreign rivals. The Beijing-based bank wants to raise as much as $3.9 billion from a rights issue, an offering of new shares aimed … Read more

Russian commercial mercenaries move into Africa

Russian commercial mercenaries move into Africa

The Wagner Group, the Russian mercenary conglomerate that rents out its combat-savvy operatives to shadowy governments around the world, has recently made itself indispensable to regimes in Africa. But the mercenaries aren’t just a bunch of guns for hire. In Africa, they are perfecting a new form of international operation – a corporate blend of … Read more

China’s Pinduoduo quietly launches US e-commerce site Temu

China’s Pinduoduo quietly launches US e-commerce site Temu

Chinese e-commerce company Pinduoduo Inc. PDD 1.11% this week quietly launched an online marketplace in the US called Temu, the latest example of overseas expansion by Chinese companies as the economy at home slows. Similar to Shein, the Chinese ultra-fast e-commerce company, Temu boasts competitive prices. Featuring products in 14 categories, including clothing, accessories, pet … Read more

China’s Pinduoduo quietly launches US e-commerce site Temu

China’s Pinduoduo quietly launches US e-commerce site Temu

Chinese e-commerce company Pinduoduo Inc. PDD 1.18% this week quietly launched an online marketplace in the US called Temu, the latest example of overseas expansion by Chinese companies as the economy at home slows. Similar to Shein, the Chinese ultra-fast e-commerce company, Temu boasts competitive prices. Featuring products in 14 categories, including clothing, accessories, pet … Read more

Reliance Industries commits $25 billion to 5G rollout in India

Reliance Industries commits $25 billion to 5G rollout in India

NEW DELHI—Reliance Industries Ltd . will spend $25 billion to roll out its 5G services in India, starting with the biggest cities in the next two months, the company’s chairman Mukesh Ambani said on Monday, as the country’s largest business group expands its digital footprint. Reliance Jio Infocomm Ltd., the telecommunications arm of the oil-to-telecom … Read more