Foxconn, one of the main manufacturers of Apple iPhones, has recently reported a significant dip in revenue for the first quarter of 2024. The company’s revenue decreased by 9.6% compared to the same period last year, reaching 1.32 trillion New Taiwan dollars ($41.2 billion). This drop was also substantial in comparison to the fourth quarter
In a bid to gain a competitive edge in the electric vehicle (EV) market, Chinese electric car company Nio has been strategically expanding its battery swap partnerships. Collaborating with at least four prominent Chinese automakers, including Changan, Geely, Chery, and JAC, Nio aims to develop battery swap standards and grow its network across China. These
CVS Health has recently announced a groundbreaking decision to include the first over-the-counter birth control pill in the U.S. in its drug plans, with no cost to many health plan sponsors. This move has the potential to revolutionize the way people access contraceptives and could pave the way for greater reproductive health rights for individuals
Student loan borrowers have until April 30 to take advantage of a one-time student loan forgiveness opportunity provided by the U.S. Department of Education. The opportunity involves a payment adjustment, which can result in immediate debt cancellation for those who request consolidation by the end of the month. This consolidation will combine all loans into
ClearBank, a British financial technology firm, has recently made headlines with its first full year of profit in 2023. This success comes after a significant jump in revenues, driven by higher interest rates and increased deposit growth. The company’s CEO, Charles McManus, attributes ClearBank’s positive performance to various factors, emphasizing the diversity of its revenue
China’s real estate industry is facing significant challenges that are impeding the country’s overall GDP growth, as highlighted in a recent report by global investment firm KKR. The industry’s problems, according to the firm’s Head of Global and Macro Asset Allocation, Henry H. McVey, are far from over. This report follows McVey’s fourth visit to
U.S. Treasury Secretary Janet Yellen’s recent trip to China marks a significant effort to increase high-level communication between the United States and China. This visit comes as both countries aim to address misunderstandings and tensions that have arisen in their relationship. Yellen’s visit, which includes meetings with various Chinese officials, highlights the importance of ongoing
Federal Reserve Chairman Jerome Powell recently addressed the uncertainty surrounding the timing of potential interest rate cuts during a speech at Stanford University. Powell emphasized the need for policymakers to carefully evaluate the current state of inflation before making any decisions. He mentioned the stronger-than-expected price pressures at the beginning of the year but stated
The preliminary results are in, and it seems that Disney shareholders have reelected the media conglomerate’s full board. This outcome is a significant setback for activist Nelson Peltz and former Marvel CEO Ike Perlmutter, who were pushing for change within the company. Despite the months of combative back-and-forth, Disney shareholders have ultimately decided to affirm
The cost of attending college has been on a steady incline, with some top schools now charging nearly six figures a year for tuition, fees, room and board, and other expenses. According to data provided to CNBC, eight institutions have set their costs for the 2024-25 academic year at over $90,000 per year. With tuition