Samsung Posts Weakest Earnings in Over a Decade

The South Korean tech giant's net profit fell 73% in the fourth quarter, leading to weak earnings for 2023. 


 
Chinese Lithium Producers' Shares Drop in Wake of Profit Warnings

Chinese lithium producers' shares fell following forecasts for sharp profit declines in 2023, indicating that slower demand growth extended into the year's final quarter. 


 
Universal Music Group Poised to Stop Licensing Music to TikTok

Universal's current contract with the social-media app is set to expire Wednesday, and no new agreement has been reached. 


 
Citi Names Luke Lu as New China Country Officer

Citigroup has named Luke Lu as new country officer and head of banking for China amid an ongoing global restructuring to streamline operations. 


 
The Companies Calling Workers Back to the Office Five Days a Week

UPS, Boeing and other employers are insisting on full-time attendance as some bosses lose patience with remote work. 


 
Elon Musk's $55.8 Billion Tesla Pay Package Struck Down by Judge

The Delaware judge cited Musk's "extensive ties" with directors who determined his most recent pay deal, which shareholders approved in 2018. 


 
Walmart Announces 3-for-1 Stock Split

The retail giant said it will conduct the stock split to make shares affordable for purchase by its associates. 


 
Google's Ad Sales Fall Short of Wall Street's Lofty Expectations

The miss sent shares tumbling despite strong growth in other areas of the search giant's business. 


 
Microsoft Earnings Jump as AI Demand Boosts Cloud Unit

The company posted $21.9 billion in net income for the December quarter, a 33% gain and the strongest profit growth in more than two years. 


 
Starbucks Sales Lose Steam as U.S., Chinese Competitors Offer Discounts

The company's quarterly revenue hits a record, but below analysts' projections. CEO Laxman Narasimhan says the brand remains strong.


(END) Dow Jones Newswires

01-31-24 0115ET