Boeing’s recent crisis surrounding its Max planes has caused a ripple effect on some of its biggest customers, prompting them to reconsider their growth strategies for the foreseeable future. The airline CEOs have expressed concerns about the ongoing quality control issues, slow production increases, and delays in the certification of new aircraft. Southwest Airlines, known
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Japan recently avoided a technical recession as newly revised official data revealed that the economy rebounded in the October-December period of the previous year. Despite this positive turn of events, the upward revisions were not as strong as anticipated. While there was noticeable growth in capital expenditure, private consumption continued to show weakness, which contributed
Saudi Arabia’s state oil giant, Aramco, recently reported a 25% decline in profit to $121.3 billion in 2023. This is a significant drop from the $161.1 billion profit reported in 2022. Despite this decrease, Aramco has decided to boost its mega dividend payout to stakeholders and the Saudi government. The base dividend for the fourth
Artificial intelligence has long been associated with technology companies, but its benefits extend far beyond this sector. According to Nancy Tengler, the CEO and CIO of Laffer Tengler Investments, there are numerous opportunities in other industries to leverage AI for growth and profitability. While tech giants like Nvidia and Meta Platforms have seen significant gains
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
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