China released economic data indicating a slowdown in consumer growth, alongside robust industrial activity in April. Retail sales only rose by 2.3% from a year ago, falling short of the 3.8% increase forecasted by a Reuters poll. On the other hand, industrial production saw a significant rise of 6.7% year-on-year, surpassing the expected 5.5% growth
Finance
The Dow Jones Industrial Average has made history by surpassing the 40,000-point mark, a feat that was unforeseeable just a year ago. This new high has been attributed to a number of factors, including the promise of artificial intelligence enhancing corporate profits and the Federal Reserve potentially lowering interest rates as inflation decreases from its
The electric car market in China is heating up with the introduction of Nio’s new, lower-priced brand, Onvo. The first car under this brand, the L60 SUV, is slated to be $4,000 cheaper than its Tesla counterpart, the Model Y. This move marks a significant shift for Nio, which has traditionally focused on the premium
AMC Entertainment recently raised around $250 million in new equity capital through a successful sale of 72.5 million shares. This at-the-market equity offering, launched on March 28, saw AMC selling shares at an average price of $3.45 per share. The timing of this sale coincided with a resurgence in the meme stock craze, fueled by
Klarna, a Swedish financial technology company, has made waves in the industry by implementing generative artificial intelligence tools within its workforce. With nearly 9 out of 10 employees utilizing AI on a daily basis, Klarna stands out as a leader in the adoption of this innovative technology. This article delves into the ways in which
GameStop shares saw a remarkable surge of over 80% in a single day, fueled by the resurgence of “Roaring Kitty,” a key figure in the epic short squeeze of 2021. Formerly known as Keith Gill, this individual, also recognized as DeepF——Value on Reddit, captivated a legion of day traders who rallied together in a fervor
The Inflation Beneficiaries ETF, designed to profit from higher rates, has caught the attention of Horizon Kinetics’ James Davolos. Despite the possibility of the Federal Reserve cutting rates, Davolos believes that the ETF is well-positioned for the current economic climate. He predicts that inflation will remain between three and five percent, with the Federal Reserve
European companies operating in China are encountering increasing difficulties in maintaining profit margins as growth in the country slows down and overcapacity issues worsen. A survey conducted by the EU Chamber of Commerce in China revealed that only 30% of respondents reported higher profit margins in China compared to their global average, marking an eight-year
In a surprising turn of events, Spanish bank BBVA has made headlines by announcing a hostile takeover bid for its domestic rival, Banco Sabadell. This move comes after an initial 12 billion euro bid from BBVA was rejected by Sabadell’s board, citing concerns about undervaluation and the potential for greater value through a standalone strategy.
British neobank Monzo has recently announced that it has successfully raised an additional $190 million, bringing its total funding for this year to an impressive $610 million. The company revealed that it secured investments from new backers, including Hedosophia, known for supporting other prominent European fintech firms like N26 and Qonto. CapitalG, the independent growth