The collapse of Baltimore’s Francis Scott Key Bridge is expected to result in a multibillion-dollar insurance claim, according to Lloyd’s of London’s chairman. On Tuesday, the large Singapore-flagged container ship Dali, which was going from Baltimore Harbour to Sri Lanka, reported losing power and manoeuvrability before colliding with a bridge support pylon. The impact threw…
Possible confusion around the new stock ticker for former President Donald Trump’s Truth Some investor brokerage accounts briefly increased by hundreds of thousands of dollars on Tuesday, the first day Trump’s “DJT” ticker traded. Several consumers complained on social media that the value of their DJT stock holdings on Charles Schwab platforms was briefly inflated…
Early trading on Wednesday saw a 14% increase in H&M shares as the Swedish retailer substantially exceeded analyst estimates for its fiscal first quarter’s earnings. Operating profit exceeded analysts’ estimates of 1.43 billion Swedish krona ($196 million) by 2.08 billion, according to an LSEG survey. The company maintained its goal of an operating margin of…
According to data from the global wealthy list of Hurun Research Institute, Mumbai is now the Asian capital with the most number of billionaires. This is the first time that the most populated city in India has topped the Asian rankings. New York (119) is the most wealthy city in the world in 2024, followed…
Approval of Merck’s treatment for individuals with high blood pressure brought on by pulmonary artery constriction was approved by the U.S. Food and Drug Administration, giving the multinational pharmaceutical company access to yet another potentially game-changing medication. Merck’s stock rose more than 4% during extended trading. About 40,000 Americans suffer with pulmonary arterial hypertension (PAH), which…
Apple is the target of a historic lawsuit brought by the US, which claims the tech giant is monopolising the smartphone market and stifling competition. The Justice Department claims in the lawsuit that the business exploited its dominance over the iPhone app store to “lock in” developers and users. It charges the company with using…
A combination between Digital World Acquisition Corporation and Donald Trump’s social media business was approved by shareholders on Friday. The acquisition may eventually bring in $3 billion or more for the former president. About 2.5 years have passed since the so-called special purpose acquisition business declared its intention to merge with Trump Media & Technology…
A U.S. labour agency recently accused Elon Musk’s SpaceX of forcing laid-off or dismissed workers to sign illegal contracts that prevent them from criticising the business and participating in class-action lawsuits against it. A regional representative of the National Labour Relations Board (NLRB) in Seattle submitted the complaint late on Wednesday. SpaceX has already been…
According to local media, Tim Cook, the CEO of Apple, praised China’s role in the company’s supply chain when visiting suppliers on Wednesday, including BYD Electronics. The visit coincided with a decline in Apple’s sales in China. Cook shared a post on his Weibo social media account, stating that he had eaten a local breakfast…
China has increased the capital threshold for non-bank financial organisations that offer modest personal loans, further tightening regulations on consumer finance companies. The National Financial Regulatory Administration’s Tuesday announcement of the measures will take effect on April 18. It occurs at a moment when Beijing’s hold over the financial industry is getting stronger. According to…
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