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British energy giant BP experienced a 45% year-on-year decline in quarterly profits to $2.7 billion, primarily due to falling oil and gas prices, marking a considerable drop from nearly $3 billion in the previous quarter and falling short of the predicted $2.9 billion. This slump was largely driven by diminished fuel margins, prompting BP to streamline operations with a goal of saving $2 billion by 2026. The trend reflects broader industry challenges, as competitors face profit decreases amid lower oil and gas prices. Europe's gas stocks reached record levels over the winter due to a pivot away from Russian gas, leading to more expensive alternatives. For instance, Shell, a key competitor, saw a 20% drop in Q1 profit to $7.7 billion. Despite these challenges, BP remains committed to shareholder returns, planning to repurchase $3.5 billion of its own shares in the first half of the year. Chart below shows the distribution of enterprises in the crude petroleum and natural gas extraction industry in the United Kingdom in 2023, by employment size.
On April 23, Tencent Holdings Ltd filed an extensive trademark application 'Gleedit' in the UK covering a range of advanced technologies and services. This includes Near Field Communication (NFC) devices, software development kits, game software, and digital entertainment systems. The filing details a wide array of products, from electronic and audio devices to virtual reality headsets and humanoid robots. It also outlines Tencent's intent to provide services like cloud computing, software as a service (SaaS), and platform as a service (PaaS). This application reflects Tencent's ambition to encompass digital solutions in gaming, AI, and internet security, showcasing its diverse approach to technology and entertainment. Visualization below examines the look of the 'Gleedit' trademark.
WHP Global, the parent company of Toys R Us, has signed a long-term licensing deal with WHSmith, making it the exclusive partner for Toys R Us shop-in-shop outlets across the UK. This summer, 30 new shop-in-shops will open after a successful trial run in select WHSmith stores last year. This move aligns with WHP Global's broader strategy to strengthen Toys R Us' presence in the UK through flagship stores, online retail, and travel retail channels, ensuring easy access for future generations of Toys R Us customers. Internationally, WHP Global is expanding Toys R Us’ physical presence in the U.S. with shop-in-shop partnerships with Macy’s and Go Retail Group. The company is also expanding its sister brand, Babies R Us, by partnering with El Puerto de Liverpool to launch stores and an e-commerce platform in Mexico. As part of its continued expansion, WHP Global is considering acquiring another brand, Express, which recently filed for bankruptcy and could be sold to WHP Global and other investors. This infographic explores top trademark words for UK street shops (Jan-Apr 2024) alongside monthly retail sales value in Great Britain (2017-2024).
12 Areas to Cover Your Intellectual Property
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