Month: May 2024

AMSTERDAM, HONG KONG – Stellantis N.V. and Leapmotor today announced that the two companies have received all required authorizations and the formation of Leapmotor International B.V., a 51/49 Stellantis-led joint venture, is now complete. Headquartered in Amsterdam, the management team led by CEO Tianshu Xin, a former Stellantis China executive, are now laying the groundwork … Read more

The console market is facing strong headwinds as we head into the latter half of this generation, something that is affecting both Xbox and PlayStation. Just weeks after Xbox announced a 31% year-over-year decline for hardware sales, Sony has now announced an almost identical 29% decline over the same period for the PS5. That was … Read more

(Bloomberg) — Alibaba Group Holding Ltd. reported a 6.6% rise in revenue after its main e-commerce and cloud businesses managed only modest growth. Revenue for the three months ended March rose to 221.9 billion yuan ($30.7 billion), compared with analysts’ estimates for 219.8 billion yuan. Net income dived a worse-than-expected 86% after accounting for losses … Read more

(Reuters) – Home Depot posted a bigger-than-expected drop in quarterly same-store sales on Tuesday as cautious homeowners shelled out less for big-ticket purchases while focusing on small-scale repairs. The company’s comparable sales fell 2.8% in the first quarter, compared with analysts’ estimates of a 2.09% drop, according to LSEG data.

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The company also hopes to grow first-party software sales just months after cutting jobs at key internal studios. Sony believes PlayStation 5 hardware sales have peaked and will now begin to “gradually decline.” The company shared that appraisal in its fiscal report for the year ended March 31, 2024, and explained PlayStation 5 sales over … Read more

In addition to serving as the unofficial start to summer, Memorial Day weekend is also a major sale holiday. You can typically find Memorial Day sales across just about every category, from mattresses to major appliances to fashion. The holiday isn’t until May 27, but between spring savings events and early Memorial Day offers, there … Read more

Hollywood strike impact is calculated at $115 million, but is set to increase in current year. Sony Group Corporation saw its sales climb by 19% to JPY13.0 trillion in its financial year to March 2024, boosted by a sharp depreciation of the Japanese currency. Net profits for the group were down 3% to JPY971 billion. … Read more

Sotheby’s kicked off this month’s marquee New York auctions with two sales on Monday evening, one devoted to established contemporary artists, the other to emerging ones. Together, the two auctions brought in $267.3 million, for a total squarely within its pre-sale estimate of $241.8 million to $350.4 million. These were the first two big auctions … Read more

FILE – Nikko Griffin, left, and Tyra Patterson, call out to arriving voters for several issues, including Issue 2, legalizing recreational marijuana, at a parking lot during early in-person voting in Cincinnati, Nov. 2, 2023. (AP Photo/Carolyn Kaster, File) COLUMBUS, Ohio (AP) — Recreational marijuana could be available for sale in Ohio by mid-June, after … Read more