Will they, or will they not? US regulators are putting crypto investors on edge as they decide whether to approve bitcoin exchange-traded funds (ETFs). Derivatives traders are already jumping in, wagering that the Securities and Exchange Commission will approve numerous ETFs this week, electrifying the market. Open interest, or the amount invested in bitcoin futures,…
Samsung Electronics Co Ltd announced a likely 35% loss in fourth-quarter operating profit on Tuesday, considerably worse than experts expected, as sluggish consumer demand remained in many of its businesses despite rising memory chip prices. The world’s top memory chip, smartphone, and TV maker said its operating profit decreased to 2.8 trillion won ($2.13 billion)…
US chipmaker Nvidia intends to start mass producing an artificial intelligence (AI) chip it created for China in the second quarter of 2024 in order to comply with US export regulations, according to two people with knowledge of the situation. Of the three processors Nvidia designed specifically for China to comply with regulations that were…
Google has started testing changes to the way companies can track people online. A new feature in the Chrome browser removes third-party cookies, which are little files that are stored on your device to collect analytics data, customise online adverts, and track browsing activity. It will first be offered to 1% of all global users,…
The desire for Ford Motor’s pickup trucks and crossover SUVs continued to drive the carmaker to its best annual auto sales performance since 2020 on Thursday, the day after many of its competitors announced double-digit increases in new vehicle sales. Sales of cars increased 7.1% to 1.99 million units in 2023, according to the Detroit…
Apple Inc. found itself a new bear when Barclays Plc analysts downgraded the company’s stock due to concerns of weak demand for its most recent iPhone. Tuesday’s 3.6% decrease in shares was the largest percentage drop in a single day since September, and it resulted in the loss of about $107 billion in market value.…
For the second year in a row, BYD manufactured more than 3 million new energy vehicles in 2023, exceeding Tesla’s output. According to Tesla, 1.84 million cars were produced in 2023. In comparison to Tesla’s vehicles, the majority of BYD’s models are more affordable and are available in hybrid as well as battery-only configurations. Tesla…
According to a report released on January 1, Saudi Arabia’s Public Investment Fund contributed around 25% of the nearly $124 billion invested globally by sovereign wealth funds in the previous year. Preliminary annual report from industry specialist Global SWF, which tracks global sovereign investment funds, shows that PIF spent a staggering $31.5 billion in 2023,…
As China’s erratic economic recovery hampered a wider rebound in demand, Asia’s factory activity contracted in December, indicating a wobbly start for the region’s manufacturing heavyweights in 2024. A variety of purchasing managers’ indices (PMIs) released by S&P Global on Tuesday revealed that, in most Asian economies, manufacturing activity was still down at the end…
A fresh lawsuit against accounting firm EY seeks damages of 1.5 billion euros ($1.66 billion) for the company’s involvement in Wirecard’s book audits prior to the German payments company’s collapse in 2020. According to a court spokesperson on Friday, Wirecard’s insolvency manager, Michael Jaffe, filed the lawsuit at a Stuttgart court. It is one of…
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