Despite increasing its sales and profit projections for the year, Walmart, the country’s largest retailer, has stated that American shoppers are becoming more frugal with their spending as the holiday season approaches. The company’s stock dropped 7.7% on Thursday as management revealed that sales over the previous two months have been “somewhat uneven” due to…
Cars are the newest commodity that Amazon, which began as the “everything store” in its mission to become the online shopping destination. According to a statement from the corporation, buyers in the US will be able to peruse and buy cars from dealers on Amazon beginning in the next year. “Changing the ease with which…
The presidents of the two nations will get together in person this week for the second time since Joe Biden assumed office, capping another turbulent year of hostilities between the US and China. Before the real presidential election cycle in the United States begins, this will be an uncommon gathering. One of the few issues…
As the largest economy in the world approaches recession, UBS projects that the U.S. Federal Reserve will reduce interest rates by as much as 275 basis points in 2024—nearly four times the market average. The Swiss bank stated that while the U.S. economy has been resilient until 2023, many of the same challenges and risks…
In addition to strengthening as an asset class for hedging against geopolitical supply risks, Goldman Sachs anticipates stronger returns on commodities over the next 12 months, driven by higher spot prices amid easing monetary policy and concerns about a recession. Over a 12-month period, the bank projects gains on the oil-heavy S&P GSCI Commodity Index…
Fearing that overcapacity would fuel a fresh wave of cheap exports, China’s policymakers, keen to improve manufacturing, are directing money towards manufacturers of high-tech products, from semiconductors to electric vehicles.` China’s central bank’s lending statistics provides an indication of the priorities of the government: as of September’s end, outstanding loans to the industrial sector increased…
Exxon Mobil is expected to reveal its much awaited lithium strategy on Monday, stating that it intends to begin producing the metal used in EV batteries in Arkansas by 2026, says a Reuters report quoting a source with firsthand knowledge of the oil major’s plans. Exxon’s entry into the industry coincides with new technologies that…
For the first time, the Canadian emissions monitoring company GHGSat launched a satellite on Saturday with the goal of identifying carbon dioxide emissions from specific facilities, such as steel mills and coal plants, from space. According to GHGSat, the satellite, called Vanguard, took out from California’s Vandenberg Space Force Base. Utilising space-age technology, it is…
“Black Swan” director Darren Aronofsky is directing a biopic on Elon Musk at the New York-based studio A24, according to rep[orts quoting information from a source acquainted with the situation. The source said that A24 has acquired the rights to Walter Isaacson’s biography of the richest person in the world. Protozoa Pictures, director Aronofsky’s production…
India unveiled a new draught broadcasting law on Friday that aims to regulate the industry. It will also apply to major streaming companies like Netflix, Disney, and Amazon and mandates the creation of separate content assessment panels. India, which is predicted by Media Partners Asia to become a $7 billion market for the industry by…
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