Apple recently approved Epic Games’ developer account in Sweden, allowing the company to establish a competing app store on iPhones in Europe under the new antitrust regulation, the Digital Markets Act. This move came after an email exchange between Epic Games CEO Tim Sweeney and Apple App Store chief Phil Schiller, where Sweeney accused Apple
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The European Central Bank recently announced a lowering of its annual inflation forecast, aligning with the widely anticipated decision to keep interest rates unchanged. ECB President Christine Lagarde also noted that the market pricing for a potential rate cut in June was in line with the outlook of policymakers. It was revealed that staff projections
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
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.