The Turkish Petroleum Corporation and the Somali Petroleum Authority signed an onshore hydrocarbon exploration and production agreement in Ankara, Türkiye.
Italian fashion house Prada has agreed to acquire Versace from Capri Holdings in a $1.375 billion deal, aiming to boost its presence in the global luxury market and revive the iconic but struggling brand.
BP Chair Helge Lund intends to step down "likely during 2026" and the process to pick his successor has started, the energy group said on Friday amid a campaign by activist hedge fund Elliott for more change at the company.
Samsung has appointed Roh Tae-moon as interim head of its consumer and smartphone unit following the passing of Han Jong-hee. With CEO Jun Young-hyun now solely leading the company, Samsung faces key challenges in its chip business and rising competition.
President Donald Trump said a deal with TikTok's Chinese parent ByteDance to sell the short video app used by 170 million Americans would be struck before a deadline on Saturday.
Paul Marchant has resigned as CEO of Primark with immediate effect after admitting to an "error of judgment" in a social interaction last year. Parent company AB Foods expressed disappointment, citing the importance of integrity. Finance director Eoin Tonge will serve as interim CEO.
Apple marked its 49th anniversary by reaching a market capitalization of $3.3 trillion. Despite recent tech stock volatility, Apple's shares surged 28% in 2024.
Elon Musk’s xAI has acquired his social media platform X in a $33 billion all-stock deal.
Popular coffee brands are negotiating price hikes with retailers due to a sharp rise in arabica costs, with some supermarket shelves running out of stock. Prices may increase by up to 25% as companies grapple with supply chain pressures.
Zhang Yiming, the founder of Bytedance and owner of TikTok, has become China’s richest person, according to multiple wealth rankings. Bloomberg Billionaires Index places him as the world’s 24th wealthiest individual, with his fortune estimated between $57.5 billion and $65.5 billion.
In a move that could significantly boost India's artificial intelligence landscape, tech leaders OpenAI and Meta Platforms have engaged in separate discussions with Reliance Industries, according to a report by The Information.
Samsung vows a comeback with bold M&A plans as shareholder pressure mounts. Admitting missteps in AI and chip tech, executives pledge a turnaround by 2025. With a $7.2B buyback and a push for acquisitions, the tech giant aims to reclaim its lost edge.
Russian President Vladimir Putin has given a U.S. hedge fund permission to buy securities in Russian companies from certain foreign stakeholders and authorised their future sale to two Russian funds, a presidential decree showed on Monday.
Uludağ, one of Türkiye’s oldest and largest soft drink brands, will receive a €25 million loan from the European Bank for Reconstruction and Development (EBRD) to finance investments in production lines and renewable energy capacity.
Fast-fashion retailer Forever 21’s U.S. division has filed for Chapter 11 bankruptcy for the second time in six years, citing declining mall traffic and growing competition from online retailers. The company plans to hold liquidation sales while seeking buyers for some or all of its assets.
Uzbekistan has signed an agreement with French and Japanese companies to initiate uranium production in the Navoi region by the end of 2025.
Türkiye’s state-owned Turkish Petroleum Corporation signed a joint venture agreement with U.S. oil giants Continental Resources and TransAtlantic Petroleum, Turkish Energy Minister Alparslan Bayraktar announced.
Spotify paid a record $10B in royalties in 2024, with 1,500+ artists earning over $1M. Despite growth, it faced legal challenges over songwriter payments, though a U.S. lawsuit was dismissed. Streaming's impact on artist revenue remains a key industry debate.
Concern over impending 25% tariffs on vehicles imported from Mexico and Canada has spurred U.S. car buyers to expedite their purchases, with many racing to dealer lots to lock in current prices before any increases take effect.
BioNTech forecasts a revenue decline for 2025, expecting between 1.7 billion and 2.2 billion euros, down from 2.75 billion euros last year. This drop is due to Pfizer write-downs and stable vaccination rates. BioNTech also plans significant job cuts and new hires.
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