Samsung Electronics predicted on Friday that its operational profit for the first quarter would increase more than tenfold, above market estimates, as chip prices have begun to recover after a sharp decline due to a growth in artificial intelligence. However, the lack of optimism shown by investors was evident when they drove Samsung shares down…
It was an “ugly” performance, according to critics, as price reductions failed to spur demand in a fiercely competitive industry. On Tuesday, Tesla reported a fall in quarterly deliveries for the first time in almost four years and missed Wall Street projections. The Elon Musk-led company’s shares fell 5.2% to $166.08 in the afternoon on…
What do Jimi Hendrix, Judy Garland, David Bowie, Lady Gaga, Barack Obama, Bill Gates, Paul McCartney, and Justin Bieber have in common with each other? They are all left-handed, which is a characteristic that about 10% of people have. However, why do most people have right hands while some have left? Research is ongoing in…
In order to resolve a lawsuit alleging that it surreptitiously monitored the internet activity of users who believed they were surfing in private, Google agreed to delete billions of data records. The terms of the settlement were submitted to the federal court in Oakland, California on Monday, and U.S. District Judge Yvonne Gonzalez Rogers must…
China’s largest manufacturer of electric vehicles (EVs), BYD, revealed that first-quarter sales for 2024 dropped 43% from the fourth-quarter of 2023. This could indicate that BYD will relinquish its status as the world’s largest EV seller to Tesla, which it had held for the previous year. According to a late-day report to the Shenzhen Stock…
Due to the metal’s attractiveness as a safe haven asset and the likelihood of a U.S. interest rate decrease, gold prices continued to rise and reached a new record high on Monday. Spot gold increased by 0.6% to $2,245.79 an ounce. The price of an ounce of U.S. gold futures increased by more than 1%…
Sam Bankman-Fried, the former millionaire CEO of FTX, was sentenced to 25 years in jail on Thursday for stealing $8 billion from clients. This decision infuriated and disappointed some former FTX customers. Minutes after the sentence was imposed by a New York judge, a member of an FTX creditors organisation going by the moniker Bruno…
According to a comment from Robert Holzmann, a member of the ECB Governing Council, the bank may cut its main interest rate before the US Federal Reserve does. Given that the European economy was expanding more slowly than the American one, Holzmann told the Austrian newspaper Kronen Zeitung, “Europe could cut interest rates before the…
H&M CEO Daniel Erver has said that the company, the second-biggest listed fashion retailer in the world, had delayed the launch of several Spring/Summer campaigns due to shipping delays brought on by the Red Sea issue. In an interview with Reuters, Erver stated, “We have made some short-term adaptation on the starting date and the…
In the largest test yet of the effect of a mega-merger on banks’ sustainability obligations, UBS will try to increase lending to the shipping sector and write off certain loans to fossil fuel clients acquired from Credit Suisse, executives told Reuters. The two largest lenders in Switzerland got married shotgun last year, which set off…
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