China recently reported data indicating a slowdown in consumer growth, with retail sales rising by 2.3% in April from a year ago. This figure fell short of the 3.8% increase forecasted by a Reuters poll and was slower than the 3.1% pace reported in March. On the industrial side, industrial production rose by 6.7% in
Walmart recently announced that it has exceeded quarterly earnings and revenue expectations, showcasing significant progress in key areas such as e-commerce and newer ventures like advertising. This positive financial performance has also been attributed to the retailer’s increasing appeal to high-income shoppers and its focus on providing convenience to customers. Chief Financial Officer John David
Inflation is currently a concern for policymakers in the US, but there are certain sectors in the economy where deflation is the prevailing trend. Deflation refers to a scenario where prices are decreasing for consumers, as opposed to inflation which measures the rate at which costs are increasing for goods and services. In the wake
The Dow Jones Industrial Average recently hit a historic milestone, crossing the 40,000 mark. This achievement comes at a time when investors are optimistic about the potential of artificial intelligence to drive corporate profits and speculate on the Federal Reserve’s possible rate cuts. It’s a significant moment that was unimaginable just a year ago. Let’s
Siemens, a leading German technology company, recently announced a decrease in profit for its industrial business during the fiscal second quarter. The company’s industrial profit fell to 2.51 billion euro, a 2% decline compared to the same period last year. This drop was unexpected as analysts had forecasted a higher profit of 2.68 billion euro.
Renowned investor Warren Buffett recently disclosed his latest stock pick in a regulatory filing, revealing that his conglomerate Berkshire Hathaway has acquired nearly 26 million shares of insurer Chubb. This sizable investment amounts to a stake worth $6.7 billion, making Chubb Berkshire’s ninth largest holding by the end of March. Following this announcement, shares of
Over the past decade, Shenzhen in China has seen unparalleled growth in its millionaire population, recording a staggering 140% increase. This growth eclipses that of other major Chinese cities such as Beijing and Shanghai, which saw more modest gains of 90% and 84%, respectively. In fact, Shenzhen has managed to outperform the country’s overall millionaire
Cisco reported earnings and revenue for the fiscal third quarter that exceeded Wall Street’s expectations. Despite a drop in sales from the previous year, the company’s stock saw an 8% increase in extended trading. The earnings per share stood at 88 cents, beating the expected 82 cents, while revenue reached $12.7 billion compared to the
Netflix’s latest announcement regarding its ad-supported tier has caught the attention of many, as the streaming giant revealed a significant increase in global monthly active users. The number has soared to 40 million, nearly doubling the previous figure of 23 million that was shared earlier this year in January. Back in November 2022, Netflix introduced
Nio, a Chinese electric car company, recently announced the launch of its new, lower-priced brand, Onvo, which aims to offer competitive pricing compared to Tesla. The first car under this brand, the L60 SUV, comes in at a price point that is approximately $4,000 cheaper than Tesla’s Model Y, making it an attractive option for