Finance

Crunchmarkets’s info on the world of finance

Reuters reports that Brazilian meat processing companies have been penalized $64 million for purchasing cattle from deforested areas in the Amazon.

Brazil’s environmental protection agency, IBAMA, has slapped a hefty fine of 365 million reais ($64 million) on several cattle ranches and meat processing firms, including the globally recognized JBS SA, for their involvement in illegal deforestation activities in the Amazon. The fines are a result of these entities raising or […]

Goldman Sachs and Apple slapped with fines exceeding $89 million due to malfunctions with Apple Card

Apple’s CEO, Tim Cook, unveiled the Apple Card at an event at their headquarters in Cupertino, California, back in March 2019. However, recent news indicates that the Consumer Financial Protection Bureau (CFPB) has imposed penalties exceeding $89 million on Apple and Goldman Sachs for mishandling customer disputes linked to Apple […]

Australian airline Qantas boosts projected domestic earnings, stock reaches all-time peak, reports Reuters

Qantas Airways, the esteemed Australian airline, has recently announced an upgrade of its first-half domestic revenue projections, alongside intentions to recommence dividend payments in the latter half of the fiscal year. This news has propelled the company’s shares to an all-time peak. With fresh leadership at the helm, the well-known […]

Oppo, a Chinese smartphone manufacturer, engages in weekly discussions about AI with tech giants Google and Microsoft

Chinese smartphone manufacturer, Oppo, is making significant strides in the tech industry. According to Canalys, Oppo holds the second-ranking position in mainland China and is the fourth largest smartphone producer globally. As part of their growth strategy, Oppo is placing emphasis on the development of artificial intelligence (AI). The company […]

SK Hynix, a supplier for Nvidia, reports no surplus in AI chips as earnings skyrocket to an all-time high, according to Reuters.

Written by Heekyong Yang, Hyunjoo Jin, and Joyce Lee South Korean semiconductor giant, SK Hynix, announced on Thursday that it had achieved a record-breaking quarterly profit. This surge in revenue was primarily driven by robust sales of their advanced chips, which are supplied to Nvidia. The company also projected that […]

“Arm Holdings Plans to Terminate Qualcomm’s Chip Design License, as Reported by Bloomberg News” – Reuters.

“According to recent reports, UK tech company, Arm Holdings, has made the decision to withdraw a significant architectural license agreement which permitted Qualcomm to utilize their intellectual property for chip design. This move comes as the latest development in the ongoing legal dispute between these two tech giants. Arm Holdings […]

The CEO of SAP implores Europe to refrain from imposing regulations on Artificial Intelligence, warning that it could set the region back.

Christian Klein, the co-CEO of German software and cloud computing behemoth, SAP, highlighted the company’s impressive financial performance for 2019 at a press conference held on January 28, 2020, in Walldorf, Germany. Despite significant restructuring expenses, SAP was able to lift its projections for the following year. Klein shared his […]

Fuji Soft’s primary stakeholder endorses KKR acquisition proposal, reports Reuters

Authors Makiko Yamazaki and Anton Bridge report that Fuji Soft’s leading shareholder has confirmed its backing for KKR’s proposal to acquire the Japanese software developer. This confirmation adds fuel to the $4 billion tug-of-war between two of the world’s most significant private equity firms. Singapore-based 3D Investment Partners, the main […]