BUSINESS

Photo Credit: Getty Images

Uber Technologies Inc. posted strong second-quarter results, surprising analysts with an 18% jump in revenue and unveiling a massive $20 billion share repurchase plan. The ride-hailing giant's performance comes as its strategic bets on loyalty, automation, and partnerships begin to bear fruit.

Photo Credit: Getty Images

Tesla's board has approved a new compensation award for CEO Elon Musk, authorizing 96 million shares, valued at approximately US$29 billion, under the same pricing terms as his previously voided 2018 package. The decision marks a calculated attempt to retain Musk's leadership as the company pivots from its electric vehicle roots toward artificial intelligence and robotics.

Photo Credit: Getty Images

Germany's auto market presented a mixed picture this week, with official data showing a robust 11.1% year-on-year surge in new car sales for the month of July. However, analysts cautioned against interpreting this single month's data as a sign of full recovery, pointing out that new car registrations were down 2.5% across the first six months of the year, underlining the ongoing challenges facing the country's automotive sector.

Photo Credit: Getty Images

Amazon announced a robust 35% increase in quarterly profits on Thursday, reaching $18.2 billion, as its significant investments in artificial intelligence began to yield significant results. The Seattle-based company also reported a 13% jump in net sales, reaching $167.7 billion, results that not only surpassed analyst expectations but also suggested that the global company was successfully navigating the challenges of the high-tariff trade policies under US President Donald Trump.

Photo Credit: Getty Images

Despite a sharp drop in quarterly profits partly due to US tariffs, German carmaker BMW reaffirmed its 2025 targets Thursday, citing its significant American operations as a buffer against trade pressures. This contrasts with rivals Volkswagen and Mercedes-Benz, who recently lowered their outlooks, citing the fallout from President Donald Trump's trade policies.

Photo Credit: Getty Images

Shein has been hit with a one million euro ($1.15 million) fine by Italy's competition watchdog for misleading claims about its environmental practices. The AGCM accuses the company responsible for Shein's European websites of using a "misleading communication strategy" about the characteristics and environmental impact of its clothing.

Photo Credit: Getty Images

Microsoft has officially crossed the $4 trillion milestone in market value, becoming the second company to ever do so after Nvidia. The move follows a wave of investor confidence and a powerful earnings report. Nvidia was the first to pass the same milestone earlier this year.