Hellenic Bank has entered into exclusive negotiations and a put option with CNP Assurances for the acquisition of its subsidiary CNP Cyprus Insurance Holdings Limited, which operates in Cyprus and Greece.
Lloyds Banking Group’s pretax profit decreased by 28% in the first quarter due to rising costs, peaking interest rates, and competition in the mortgage market.
Helikon Investments Limited has raised its stake in the Bank of Cyprus from 2.04% to 4.04% of the share capital.
PepsiCo beat Wall Street expectations for first-quarter revenue and profit due to strong demand for its sodas and snacks in international markets, while experiencing a slowdown in the United States.
Doctors in Canada are concerned about the federal government’s proposed increases to capital-gains taxes, which could have a significant financial impact on them. The changes will affect physicians who operate their practices through medical professional corporations, as they will be taxed at a higher rate on capital gains. The Canadian Medical Association conducted a survey in 2021 that found a deterioration of doctors’ mental health during the pandemic, with 47% describing themselves as “flourishing” that year, down from 63% in 2017.
The government may reduce the corporate tax rate in fiscal 2024-25 to encourage compliance and boost collection, with the National Board of Revenue likely proposing a 2.5 percentage point reduction for both listed and non-listed companies.
The government may reduce the corporate tax rate in fiscal 2024-25 to encourage compliance and boost collection, with the National Board of Revenue likely proposing a 2.5 percentage point reduction for both listed and non-listed companies.
Tesla slashed prices by up to ,000 on its vehicles in several markets including the US, China, and Germany.
Tesla has reduced prices on its models in China by nearly ,000 as it faces declining sales and increased competition in the electric vehicle market. The starting price of the Model 3 in China has been cut by 14,000 yuan to 231,900 yuan. Similar price cuts have been made to other models like Model Y, Model S, and Model X. In the United States, Tesla also lowered prices on some of its vehicles and its Full Self-Driving software. The company reported a decrease in global vehicle deliveries in the first quarter for the first time in almost four years. Musk postponed a trip to India where he was expected to announce plans for Tesla to enter the South Asian market. Tesla also announced layoffs as it anticipates a drop in deliveries, following reports that it abandoned plans for an affordable EV in favor of robotaxis. Tesla shares have fallen by 40.8% so far this year, as the company engages in a price war to increase sales volume.
AMD unveiled a new series of semiconductors for AI-enabled business laptops and desktops. These chips will be available in platforms from HP and Lenovo starting in the second quarter of 2024.