HSBC has reported a notable 10% increase in quarterly profits, reflecting a strong pre-tax profit of $8.5 billion (£6.6 billion) for the three months ending in September 2024. This performance exceeds analysts’ expectations and occurs amid one of the most significant transformations in the bank’s 159-year history. The latest financial results signal not just resilience…
Brazil’s cryptocurrency market is experiencing a remarkable surge, with net imports of crypto assets for the first nine months of 2024 increasing by a staggering 60.7% compared to the same period last year. Data released by the central bank indicates that these imports have already surpassed the total for the entire year of 2023, highlighting…
Iambic Therapeutics has made headlines with the launch of its groundbreaking artificial intelligence model, “Enchant,” which promises to revolutionize the drug development process. This innovative model could significantly decrease the time and costs associated with bringing new pharmaceuticals to market, aligning with a broader trend in the biotech industry where tech-driven solutions are being utilized…
Adidas has reported strong growth in Greater China during the third quarter of 2024, defying broader trends in the retail sector where many companies are grappling with weak consumer demand. The German sportswear giant’s performance in this key market reflects a strategic pivot and an improved brand image, particularly in North America, despite some challenges…
As economic conditions in China continue to deteriorate, companies around the world are facing significant challenges that compel them to reassess their strategies. While some brands are implementing price cuts and scaling back operations in response to declining consumer spending, others are seeking new avenues for growth despite the prevailing uncertainties. The impact of China’s…
Meta Platforms is making significant strides in the artificial intelligence (AI) sector by developing its own AI-based search engine. This initiative aims to reduce the company’s reliance on established search engines like Google and Microsoft’s Bing. As competition heats up in the AI search engine market, with players like OpenAI, Google, and Microsoft striving for…
McDonald’s is grappling with a public health crisis after an E. coli outbreak, traced back to its popular Quarter Pounder burgers, resulted in the death of one individual and left nearly 50 others ill across the United States. With 10 people already hospitalized, the company has taken swift action, pulling the Quarter Pounder from restaurants…
Nvidia, the leading American chipmaker, has announced a series of strategic partnerships with major Indian companies as part of its broader plan to strengthen its presence in the Indian technology market. These collaborations, revealed during Nvidia’s AI Summit in Mumbai, emphasize India’s growing role in the global artificial intelligence (AI) landscape and Nvidia’s ambition to…
The global shift towards electric vehicles (EVs) is set to dramatically reshape investment, production, trade, and employment, according to the latest World Economic Outlook released by the International Monetary Fund (IMF). As world leaders and policymakers convene at the IMF and World Bank annual meetings to discuss critical global economic issues, the rise of EVs…
Norway’s sovereign wealth fund, officially known as the Government Pension Fund Global, reported a third-quarter profit of 835 billion Norwegian kroner ($76.3 billion), attributing the surge largely to stock market gains driven by declining interest rates globally. Managed by Norges Bank Investment Management (NBIM), the world’s largest sovereign wealth fund ended September 2024 with a…
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