The world’s second-largest apparel retailer, H&M, underperformed expectations with flat sales for its most recent quarter as it battled fierce competition from Inditex, the owner of Zara, and other brands. Shares of H&M dropped more than 4% after the firm revealed that local currency sales for the months of June through August, the most highly…
According to the EU’s top privacy watchdog, TikTok has been fined 345 million euros ($370 million) for violating the region’s laws on the handling of children’s personal data. According to a statement from Ireland’s Data Protection Commissioner (DPC), the Chinese-owned short-video platform violated a number of EU privacy laws between July 31, 2020, and December…
Arm Holdings’ stock market debut was a smashing success, making it considerably simpler for owner SoftBank Group to return to its original acquisition-hungry state. The British chip designer’s shares increased by about 25% on the first day of trading, more than doubling the $32 billion that SoftBank paid to purchase it in 2016. The massive…
On Wednesday, the European Commission started looking into whether to impose punitive tariffs to shield its manufacturers from imports of less expensive Chinese electric vehicles, which it claims receive state subsidies. The following are the key queries surrounding the action, which on Thursday caused a decline in shares of Chinese EV manufacturers: How Much Has…
Analysts say Inditex, the company that owns Zara, is in a good financial position as falling demand for apparel puts pressure on the industry to drop prices. Inditex was among the first fashion retailers to boost prices in reaction to increasing inflation. As the largest clothes retailer in the world successfully passed cost increases through…
In a move regarded as a threat to China’s regional economic ambitions, a multinational rail and shipping project connecting India with the Middle East and Europe was revealed on the fringes of the G20 meeting in New Delhi. The corridor, which would connect India, Saudi Arabia, the United Arab Emirates, Jordan, Israel, and the European…
Following news that iPhone use has been prohibited for Chinese government employees, Apple stock has dropped for a second straight day. Over the last two days, the company’s stock market worth has decreased by more than 6%, or about $200 billion. The third-largest market for the IT giant is China, which contributed 18% of its…
According to analytics company Similarweb, OpenAI’s ChatGPT, the enormously popular artificial intelligence chatbot debuted in November, saw monthly website traffic fall for the third consecutive month in August. However, there are hints the dip is ending. The number of visitors to the ChatGPT website from desktop and mobile devices worldwide fell by 3.2% to 1.43…
In order to circumvent U.S. sanctions and maybe reemerge as a competitor to Apple, China’s Huawei Technologies recently unveiled a new line of smartphones that have attracted attention on a global scale. The Mate 60 and Mate 60 Pro were first introduced by the firm at the end of August. On Friday, the Mate X5,…
The experience of having a chatbot listen to a wealthy client’s talk with a Morgan Stanley banker about their investments may soon be different. The bank will launch a generative artificial intelligence bot this month after testing it with 1,000 financial advisors for a few months. The bot was created in collaboration with OpenAI, the…
