Federal Reserve Chair Jerome Powell recently restated his belief that interest rates will begin to decrease at some point this year. However, he stopped short of providing a specific timeline for when this will occur. Powell emphasized the importance of not rushing into a decision, highlighting the need to carefully examine all relevant data, the
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The sales of Apple’s iPhone in China have experienced a significant decline in the first six weeks of 2024, according to a recent report by Counterpoint Research. This drop in sales can be attributed to fierce competition from local smartphone manufacturers such as Huawei, Oppo, Vivo, and Xiaomi. With Apple’s market share in China dwindling,
China is set to begin its annual parliamentary meetings this week, with investors eagerly anticipating signals on potential economic stimulus measures. While the country’s gross domestic product grew by 5.2% in 2023, the overall recovery from the Covid-19 pandemic has been slower than expected. A prolonged slump in the real estate market and declining global
In a surprising move, Saudi Arabia and Russia, two heavyweights in the oil production industry, alongside other key OPEC+ producers, have decided to extend their voluntary crude supply cuts until the end of the second quarter. This decision comes amidst a period of fluctuating oil prices and geopolitical tensions. According to reports from the state-owned
The recent C-130 cargo plane food airdrop in Gaza, authorized by President Joe Biden, has sparked both praise and criticism. The operation, which involved dropping 66 bundles containing about 38,000 meals in southwest Gaza, was seen as an emergency humanitarian response after over 100 Palestinians died while trying to access aid from a convoy. Although
Despite already low expectations, a significant portion of European companies missed earnings expectations in the latest reporting season. According to analysts, around 50.2% of companies posted a beat as of Feb. 29 with 313 companies having reported. This marks the worst earnings season since the first quarter of 2020 when the pandemic first hit European
Semiconductor firms, including industry giants like Taiwan Semiconductor Manufacturing Company (TSMC), are facing a potential risk of water shortages as processing technology continues to advance. These companies play a crucial role in manufacturing semiconductor chips that are utilized in various consumer devices ranging from smartphones to televisions. As technology progresses, the demand for more sophisticated
AirAsia, the well-known budget airline, is making a bold move by listing its brand management unit on the Nasdaq. This decision comes after finalizing a Special Purpose Acquisition Company (SPAC) merger. The company is aiming to tap into the U.S. market’s potential for franchise and licensing opportunities, despite being relatively unknown to the American audience.
The stock market saw some activity on Tuesday, with the S&P 500 and the Nasdaq Composite closing with modest gains. The S&P 500 edged up by 0.17% to 5,078.18, while the Nasdaq rose by 0.37% to end at 16,035.30. In contrast, the Dow Jones Industrial Average fell by 96.82 points, or 0.25%, to close at
The Biden administration is setting its sights on transforming the United States into a significant player in the production of cutting-edge semiconductor chips by the year 2030. Commerce Secretary Gina Raimondo emphasized that this initiative is crucial not only for increasing national security but also for generating more job opportunities. According to Raimondo, the goal