Adidas shares climbed 3.3% in early Frankfurt trading on Wednesday after the German sportswear manufacturer upgraded its full-year profit outlook following stronger-than-expected third-quarter performance. The company expects its 2026 operating profit to reach approximately €2.5 billion, compared with its previous target of €2.3 billion when including a US tariff refund and planned reinvestment. The revised…
Google is stepping up its efforts to challenge Nvidia’s dominance in artificial intelligence infrastructure by introducing TorchTPU, an open-source project designed to help developers run AI applications on Google’s proprietary Tensor Processing Units (TPUs). The launch comes just a day after Amazon introduced its own PyTorch-based development tool, TorchNeuron, highlighting how major cloud providers are…
U.S. federal regulators have opened an investigation into Tesla’s launch of its Cybercab autonomous vehicle, focusing on the decision to deploy vehicles on public roads without conventional steering wheels or brake pedals. The National Highway Traffic Safety Administration (NHTSA) launched the inquiry shortly after Tesla began putting its first Cybercabs into service in Austin, Texas….
Volkswagen has reached a preliminary agreement that could transform its Osnabrück facility from an automotive plant into a defence production site, marking a significant step in the German automaker’s sweeping restructuring efforts. The proposed deal would see Volkswagen sell the Osnabrück factory to Aurelius Capital, together with Germany’s Lower Saxony state. The transaction could help…
Elon Musk says SpaceX is developing an in-house manufacturing capability that could accelerate the production of natural gas turbines needed to power the rapidly expanding AI data center industry. Musk confirmed on Saturday that a SpaceX facility under construction in Bastrop, Texas, will include a foundry for manufacturing turbine blades and vanes. The move is…
Air Arabia reported a decline in first-quarter profit for 2026 as regional airspace closures and operational disruptions affected airline operations across the Middle East. The Sharjah-based airline announced that net profit fell by 22% to Dh278 million during the January to March period, compared to Dh355 million recorded in the same quarter last year. The…
Flipkart has reportedly paused its plans for an initial public offering (IPO) as ongoing market uncertainty continues to affect India’s technology and startup investment environment. According to reports, the Walmart-owned e-commerce giant has decided to delay discussions related to its stock market listing due to rising volatility in financial markets and growing uncertainty caused by…
Ola Electric has approved a major investment of Rs 2,000 crore into its electric vehicle and battery manufacturing businesses as the company strengthens its focus on localisation and large-scale production. According to a recent regulatory filing, the company’s board approved an investment of Rs 1,500 crore into its subsidiary Ola Electric Technologies and an additional…
Ooredoo Group has reported strong financial results for the first quarter of 2026, with profits rising as demand for telecom and data services continued to grow across several Middle Eastern markets. The company announced that net profit attributable to shareholders increased by 5% compared to the same period last year, reaching more than QR1 billion…
The emergency financial support package introduced by the Central Bank of the UAE has reached nearly $2 billion in assistance since its launch earlier this year in response to regional tensions linked to the Iran conflict. According to recent figures, loan repayment deferrals under the program have climbed to AED6.2 billion (approximately $1.7 billion). The…
