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Self-Driving Tech Company WeRide Speeds Up Global Expansion as AI Transforms Transportation Industry
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Self-driving technology firm WeRide is accelerating its global expansion as the artificial intelligence boom boosts the adoption of machine learning in transportation. The company is actively developing self-driving technology for a range of vehicles, including robotaxis, minibuses, freight vehicles, and sanitation vehicles.
Dubai to Attract More Millionaires as Wealthy Individuals Leave the UK
The United Arab Emirates (UAE) is poised to maintain its status as the world's leading destination for wealthy individuals for the third consecutive year, according to the Henley Private Wealth Migration Report.
McDonald’s Earnings Report Imminent: Key Expectations
McDonald’s is set to report its second-quarter earnings on Monday, with its shares having declined by 15% year to date. This decline has been driven by investor concerns over consumer spending trends and the overall health of the restaurant industry.
European markets kick off the new trading week with gains as earnings season progresses
LONDON — European markets opened higher on Monday as investors analyzed U.S. inflation data and anticipated another busy week filled with earnings reports and central bank meetings. The Stoxx 600 index increased by 0.29% by 8:30 a.m.
Apple Falls Out of Top 5 Smartphone Vendors in China as Domestic Brands Dominate the Market
Apple's market share in China has been on a steady decline, dropping to 14% in the second quarter from 15% in the first quarter and 16% a year earlier. This reduction in market share signifies a challenging period for Apple in the Chinese market, where local brands are rapidly gaining ground.
European Stocks Poised for Mixed Opening as Selloff Eases; U.S. Inflation Data on the Horizon
LONDON — European markets are expected to open mixed on Friday as the global stock selloff shows signs of easing and investors turn their attention to upcoming U.S. inflation data. Over the last two sessions, the pan-European Stoxx 600 has closed lower, largely driven by a significant downturn in technology stocks.
SK Hynix, Nvidia Supplier, Achieves Highest Quarterly Profit in 6 Years Due to AI Chip Dominance
SK Hynix, one of the world’s largest memory chipmakers, announced on Thursday that its operating profit in the June quarter reached its highest level since the second quarter of 2018, rebounding from a loss of 2.88 trillion won in the same period a year ago.
Nikkei Plummets 3% Amid Asia-Pacific Market Decline, Following Wall Street Sell-Off
Investors are evaluating South Korea’s advance second-quarter GDP figures, which slightly missed expectations. The GDP grew 2.3% year-on-year, lower than the 2.5% anticipated by economists polled by Reuters. On a quarter-on-quarter basis, South Korea’s economy contracted by 0.2%, contrasting with the 0.1% rise expected and reversing from the 1.3% growth in the first quarter.
South Korean Court Grants Arrest Warrant for Kakao Founder
A South Korean court approved early on Tuesday a prosecution request for a warrant to arrest Brian Kim, the billionaire founder of tech giant Kakao Corp, on accusations of stock manipulation during a 2023 acquisition. This development marks the latest legal twist for Kakao after the company and an executive went on trial last year for alleged wrongdoing during the same acquisition.
Most Pledged Democratic Delegates Back Harris Following Record-Breaking Fundraising Day
Democrats united behind Vice President Kamala Harris as the party’s front-runner for the presidential nomination Monday, and their excitement translated into a juggernaut day of fundraising for the party and for Harris’ campaign. Harris has emerged as the clear choice for the Democratic nomination, with a surge in support that is reflected in both endorsements and financial contributions.
Volvo Cars Soars 11% Following Record-Breaking Core Operating Profit Report
Volvo Cars experienced a significant rise in its share prices, closing 11% higher on Thursday. This surge followed the announcement of a remarkable increase in the company's core operating profit for the second quarter.
Joe Biden Withdraws from 2024 Presidential Race, Endorses Kamala Harris as Democratic Candidate
President Joe Biden has announced his decision to drop out of the 2024 presidential race against former President Donald Trump. In a surprising move, Biden has endorsed Vice President Kamala Harris as the Democratic Party nominee.
After-Hours Stock Movers: Intuitive Surgical, Netflix, and Other Major Players
Netflix saw its stock dip less than 1% after surpassing analyst expectations on both revenue and earnings for the second quarter. The streaming giant reported earnings of $4.88 per share on $9.56 billion in revenue. Analysts surveyed by LSEG had anticipated $4.74 per share on $9.53 billion in revenue.
Expert Warns: The End of This Tax Break Could Severely Disrupt Business Owners – Essential Information Inside
Tax breaks amounting to trillions of dollars are set to expire after 2025 unless Congress acts to extend them. Among these is a significant deduction for millions of self-employed individuals and business owners.
Wall Street CEOs, including Dimon, react to Trump assassination attempt: ‘Deeply saddened’ by the violence
The leaders of Wall Street’s most powerful firms are speaking out to condemn the attempted assassination of former President Donald Trump at a Pennsylvania rally over the weekend. The attack, which resulted in the death of one bystander and injuries to two others, has prompted strong reactions from prominent CEOs, who emphasize the need for unity and constructive dialogue in the face of political violence.
Many Americans believe they are protected from climate change, but their financial data suggests otherwise
Just 55% of Americans believe global warming will “hurt them a moderate amount,” according to a new study by Stanford University and Resources for the Future. This suggests a significant portion of the population underestimates the potential financial impacts of climate change.
Report Finds Nearly Half of Gen Zers Rely on Financial Support from Parents
Today, 46% of Gen Zers rely on financial assistance from their family, according to a new report from Bank of America. Inflation’s recent surge, combined with specific challenges related to housing costs and college affordability, are largely to blame.
Economists largely agree that high inflation cannot be attributed to either President Biden or former President Trump
The consumer price index (CPI) moderated again in June 2024, as reported by the Bureau of Labor Statistics on Thursday. The CPI annual inflation rate has declined to 3% from its 9.1% pandemic-era peak in 2022.
SBA Launches New Credit Lines Up to $5 Million to Support Small Businesses
The U.S. Small Business Administration (SBA) is set to unveil new government-backed credit lines of up to $5 million for small businesses, as announced by SBA Administrator Isabel Casillas Guzman during an interview with CNBC.
New UK Finance Chief Revives Housing Targets to 'Get Britain Building Again'
A former Bank of England economist, Rachel Reeves was appointed as Britain’s first female chancellor of the exchequer — equivalent to a finance minister — on Friday. Reeves' appointment marks a historic milestone, as she takes on the critical role in Prime Minister Keir Starmer’s newly formed Cabinet.
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