Credit: Intel Levi & Korsinsky, a class action attorneys’ firm, is calling Intel investors to join a class action suit against the company. The suit alleges that the semiconductor giant failed to properly disclose losses generated by its manufacturing division in January when it reported its 2023 results. Starting Q1 2024, Intel adopted its so-called […]
Credit: SMIC China’s semiconductor exports are growing, but today’s success might not be the clear victory that state media makes it out to be. Industry analysts believe that China’s chip sector may be reaching overcapacity and that supply will dwarf demand in the coming months. That could mean we see predictions of a price war […]
Question: How does a school district go broke with $1.1 billion in revenues? Answer: When it spends $1.3 billion. This macabre joke is all-too real for San Francisco Unified, where this spring a state oversight panel took control of all budget decisions until the district balances its spending. After reviewing the district’s budget, the oversight […]
Christian Lindner, German Minister of Finance, speaks during the press conference on the results of the tax estimate. Soeren Stache/dpa Germany’s federal, state and local governments can expect €21.9 billion ($23.8 billion) less tax revenue next year than assumed in the autumn. The tax estimators project that the state will collect a total of €995.2 […]
Supermacs boss Pat McDonagh has said his group has spent between €6 million and €7 million on houses for staff. In an interview, Mr McDonagh said the recruitment of staff was “the biggest challenge” facing his fast food and hospitality business today. He said currently there are between 200 to 250 Supermacs staff in mainly […]
PARIS – Underscoring anemic demand for fashion in online channels, Zalando reported revenues in 2023 declined 1.9 percent to 10.1 billion euros, and its GMV, or gross merchandise volume, slipped 1.1 percent to 14.6 billion euros. The German company noted that adjusted full-year EBIT jumped to 350 million euros from 185 million euros, representing a […]
Russia’s February oil and gas revenues jumped by over 80% from a year ago. The increase comes despite sanctions imposed on Russia for its invasion of Ukraine. Russia managed to circumvent sanctions and maintain revenue, most recently by activating a price floor mechanism. Russia played a card that nearly doubled its energy revenues ahead of […]
Pre-tax profits more than halved to €687,087 at the firm that operates the luxury Fota Island hotel resort outside Cork city last year as revenues surged. New accounts show that profits declined due to higher costs as revenues increased at Xiu Lan Hotels Ltd by 25 per cent rising from €17.1 million for a prior […]
The State collected 5 per cent more tax in January than in the same month last year on the back of higher income tax, excise and VAT receipts. Figures from the Department of Finance show income tax takings were up 2.9 per cent from January 2023, while VAT was up 4 per cent. Adjusting for […]
NASHVILLE, Tenn. (AP) — Nearly five years after narrowly convincing lawmakers to allow a select number of families to use tax dollars for private schooling, Tennessee Gov. Bill Lee on Monday stood before the GOP-dominant Legislature with a much more ambitious pitch: Make school vouchers universal throughout the state. It’s a proposal that would be […]
Warren Buffett.AP Images Warren Buffett’s Berkshire Hathaway recently bought the final 20% of Pilot Travel Centers. The truck-stop chain ranks among America’s biggest companies in terms of revenue and headcount. Pilot made $55 billion in nine months in 2022, more than Nike or Netflix’s annual revenue that year. Warren Buffett’s company recently bought out a business […]
This year, Ukraine will cover the budget deficit mainly with the help of its international partners, but in the following years, the budget deficit of US$10-15 billion needed to rebuild the country could be covered by revenues from frozen assets of the Russian Federation. Source: Rostyslav Shurma, Deputy Head of the President’s Office, at a […]