Samsung Appoints New Chief for Chip Business

Samsung Electronics has tapped a new chief for its semiconductor arm as it looks to boost its competitiveness in the chip industry amid the artificial-intelligence boom. 


 
AstraZeneca Targets $80 Billion Revenue by 2030

AstraZeneca has set out a new revenue target as it aims to bolster its investment in technologies and platforms, and said it would develop 20 new medicines throughout the next six years. 


 
Generali Outlook on Track After Quarterly Beat

Generali backed its financial targets after it reported better-than-expected results for the first quarter, with solid growth across all of its business. 


 
GSK Sees Positive Trial Results For Potential Blockbuster Drug

GSK said two late-stage trials of an asthma drug that could have peak sales of almost $4 billion met their goals. 


 
BMW, Jaguar and VW Parts May Have Been Made With Forced Labor, Senate Report Says

The report from Senate Finance Committee Chair Ron Wyden says automakers aren't doing enough to root out the use of forced labor in their supply chains 


 
Li Auto Shares Shed 19% on Weak Earnings, Tough Outlook

Shares fell sharply in Hong Kong after the Chinese hybrid-vehicle specialist unveiled weaker-than-expected earnings and guidance following a lackluster launch of its first fully-electric model. 


 
Rio Tinto Invokes Force Majeure on Australian Alumina Sales

The miner has declared force majeure on alumina shipments from operations in Australia's Queensland state because of a gas shortage. 


 
Palo Alto Networks' stock falls after earnings as forecast fails to impress

The stock was down about 9% in after-hours action Monday. It lost 28% in the session after the last earnings report. 


 
Telstra to Cut Jobs to Save Costs Amid Enterprise Overhaul

The Australian telecommunications company plans to cut 2,800 jobs as part of a continuing strategic review, helping cut $233.4 million in costs. 


 
Zoom bumps its longer-term outlook higher, but near-term forecast comes up short

Zoom Video Communications Inc. on Monday bumped its full-year profit and sales forecast higher, after reporting first-quarter results that beat Wall Street's expectations, helped by a broader artificial-intelligence rollout across the video-calling platform's products.


(END) Dow Jones Newswires

05-21-24 0515ET