Meta, formerly known as Facebook, has been heavily investing in artificial intelligence (AI) for years. While some investors may be skeptical about the massive spending on AI and its pay off in the near future, CEO Mark Zuckerberg is urging them to focus on the present results. Following the company’s second-quarter earnings report, Zuckerberg and
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Japan’s central bank recently announced an increase in its benchmark interest rate, moving it to “around 0.25%” from the previous range of 0% to 0.1%. This marks the highest interest rates set by the Bank of Japan since 2008. Despite this increase, the central bank expects that real interest rates will remain “significantly negative” and
The United Arab Emirates is becoming the top destination for millionaires looking to relocate, while the U.K. is projected to see a decline in its millionaire population. According to the Henley Private Wealth Migration Report, the UAE is expected to attract 6,700 millionaires by the end of 2024, significantly more than the U.S., which is
The Asia-Pacific markets experienced a positive trend on Monday, with Japan’s Nikkei 225 leading the gains in the region. This was largely attributed to a key U.S. inflation report that was released late last Friday. The report showed that the U.S. June personal consumption expenditures price index rose 0.1% month-on-month and 2.5% year-on-year, in line
The United States is set to announce a significant overhaul of its military command structure in Japan during high-level security talks with its Asian ally. The revamp is part of a strategy to deepen defense ties between the two countries and improve coordination on regional threats emanating from China and North Korea. At the heart
Bank of America has identified Apple as a top pick among technology stocks, emphasizing its upcoming quarterly results. Analyst Wamsi Mohan recently increased the price target on Apple to $256, highlighting the company’s strong performance and brand loyalty. With an expected multi-year iPhone cycle, coupled with the integration of AI features, Apple is poised for
Apple, once a dominant player in the Chinese smartphone market, has been edged out of the top five vendors list in the second quarter. According to a Canalys report, Apple’s market share in China shrank to 14% from 15% in the first quarter and 16% in the same period a year ago. This marks a
The Nikkei 225 in Japan experienced a substantial 3% decline, signaling a continuation of its six-day losing streak. This led to significant losses among Asian indexes as a whole, following a sharp downturn in the Wall Street market. SoftBank Group, a major player in the Nikkei index, saw a dramatic 9% drop, while Renesas Electronics
The Crown Estate, a key source of funding for the British monarchy, saw profits soar by 148% in the 2023-24 fiscal year, reaching an impressive £1.1 billion. This substantial increase in profits has paved the way for a significant rise in the taxpayer-funded Sovereign Grant, which supports the official duties of King Charles III and
Wiz, a cloud security startup, recently made headlines by turning down a staggering $23 billion acquisition offer from Google. This decision surprised many, as it would have been the largest-ever deal for the tech giant. Instead of accepting Google’s offer, Wiz announced that it would focus on pursuing its original plan of going public through