After a strong El Nino year, the La Nina weather pattern, which is characterised by abnormally low temperatures in the Pacific Ocean, may develop in the second half of 2024, a U.S. government weather forecaster has said . The pattern usually provides drier weather to the regions of the Americas that produce grains and oilseeds, and…
In line with the US Federal Reserve Chair Jerome Powell’s comments on U.S. inflation and a solid employment report, global equities funds saw significant outflows in the week leading up to February 7 as markets reevaluated bets regarding the Fed’s interest rate choices. Investor withdrawals from global equity funds were a net $13.38 billion, the…
The founder of WeWork, Adam Neumann, is attempting to repurchase the company that filed for bankruptcy in November, according to people with knowledge of the situation on Tuesday. According to the sources, Neumann’s new real estate venture, Flow Global, has attempted to purchase WeWork or its assets and offer bankruptcy financing to keep it afloat.…
Executives from both companies told Reuters that HSBC, the largest bank in the United Kingdom, has teamed up with Google to invest in rapidly expanding climate technology companies that are responsible for some of the most promising solutions to the world’s climate crisis. As per the agreement, HSBC will try to finance businesses that the…
The e-commerce giant Amazon posted better-than-expected holiday quarter revenues, and its lucrative cloud division indicated early profits from AI-powered features. These reports caused Amazon.com shares to soar 7% on Friday. Along with Microsoft and other major companies, the company announced plans to increase expenditure on the much-hyped technology in 2024 and began to see returns from…
According to analytics firm Vertical Knowledge, retailers dropped prices on twice as many Nike trainers in 2024 compared to the same period the previous year, jeopardising the sportswear giant’s usually robust pricing strength at a time when competing sneaker manufacturers are posing fierce competition. Foot Locker, Dick’s Sporting Goods, and Macy’s were among the eight…
As foldable phones gain traction and Huawei makes a comeback in the Chinese market, TF International Securities’ top Apple analyst Ming-Chi Kuo predicts that iPhone shipments will suffer this year. According to Kuo’s blog post on Tuesday about his most recent supply chain survey, Apple, which for the first time last year emerged as the…
Following its earlier-this-month guidance, Samsung Electronics reported a 34.57% decrease in operating profit in the fourth quarter compared to the same period last year. Samsung’s fourth-quarter performance vs estimates are as follows: Revenue: 67.78 trillion Korean won, or roughly $51 billion, as opposed to the 69.27 trillion Korean won that LSEG analysts had predicted. Operating…
According to a prominent leader in the aircraft business, Boeing may encounter stronger regulatory consequences if other production issues arise, such to the one that may have caused a door plug explosion on an Alaska Airlines 737 MAX 9. “The FAA will stop (737) production” is the next major issue that Air Lease Corp. opens…
A Teradyne representative stated on Monday that the semiconductor testing equipment supplier Teradyne, opens new tab, withdrew manufacturing worth approximately $1 billion from China last year due to supply chain problems caused by U.S. export laws. The company subcontracted to Flextronics to manufacture its semiconductor test equipment, which was mostly manufactured at a factory in…
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