With a record-breaking 30 million tonnes of sugar produced last year, India recently became the world's largest sugar producer, surpassing Brazil. But at what cost? Every year, from September to March, over 1.4 million Indian workers migrate internally, searching for work in sugar cane fields. The labourers are paid a meager €300 to €400 for six months of hard toil, with only one day off per month.
Electric vehicle maker Tesla reported a 24 percent rise in revenue in the first quarter of the year, while also seeing a 24 percent drop in profits. This follows a price-cutting drive in order to gain more market share in an increasingly competitive industry.
Saudi Arabia's national oil producer Aramco achieved "record" profits totaling $161.1 billion, a nearly 50% increase. The firm saw prices skyrocket after Russia invaded Ukraine, leading to soaring global energy prices.
5 Nov 2022
Can Joe Biden switch the US from fossil fuels to renewable energy, especially when places like West Virginia are so dependent on coal? Well, the biggest challenge just might be a Republican victory in midterm elections.
22 Aug 2022
Saudi energy giant Aramco says its profits have nearly doubled compared with last year. The firm, which is nearly fully state-owned, has seen both demand — and pump prices — soar.
27 Oct 2021
Benefitting from soaring demand for online ads, Google's parent company Alphabet reported nearly $19 billion in profits between July and September, up 68 percent from the same period last year. Microsoft's earnings also beat expectations, while French consumers are gearing up for some price hikes at the bakery.
26 Oct 2021
Facebook reported an annual 17 per cent jump in third-quarter net profit, driven by an increase in daily active users and strong advertising sales despite the platform facing multiple controversies that have led to calls for tighter regulation.
18 Sep 2021
In a bid to tackle soaring energy prices, Spain's government is to cut taxes on electricity and claw back billions of euros in what the prime minister has described as "excess profits". The cost to Spanish consumers has risen by 35 percent in the past year, as wholesale price rises have been passed on to households. Also today, we look at the situation of European economies ahead of the State of the Union address by Commission President Ursula von der Leyen.
13 Sep 2021
A report by three US activist groups claims Amazon, Facebook, Google, Microsoft and Twitter made billions from US government contracts since 2004.
17 Jun 2020
The economic fallouts of the coronavirus, especially dwindling profits, are forcing companies to tighten the purse strings, a UN report says. Developing economies are expected to be among the worst hit.