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U.S. Jobless Claims Drop Amid Mixed Economic Signals

U.S. Jobless Claims Drop Amid Mixed Economic Signals

Economy news
10 months ago

The U.S. economy is giving mixed signals, although the news of reduced jobless claims is a welcome boost to the world’s biggest economy. Jobless claims totaled209,000 in the week ended November 18, which was 24,000 less than in the previous week, acc...

Nissan Announces $2.5 Billion to Build More EVs in U.K.

Nissan Announces $2.5 Billion to Build More EVs in U.K.

Economy news
10 months ago

In a sign of the growing race for electric vehicle supremacy, Nissan will inject $1.4 billion into its British plant to build two major EV models.The Japanese automaker said last week that its plans for electric versions of the Qashqai and Juke would...

Turkey Announces Another Major Interest Rate Hike

Turkey Announces Another Major Interest Rate Hike

Economy news
10 months ago

Turkey's central bank this week surprised the marketswith a bigger-than-expected interest hike as it revved up its battle against inflation as it tries to support the slumping lira.The central bank hiked its policy rate by 5 percentage points to 40%,...

Global Smartphone Sales Rebound after 2-Year Dip

Global Smartphone Sales Rebound after 2-Year Dip

Economy news
10 months ago

Worldwide smartphone sales climbed in October after falling for 27 straight months on a year-on-year basis. Led by a recovery in emerging markets, retail sales volumes grew 5% year-on-year in October.Huawei has also made a comeback in China, clocking...

Nvidia’s Revenue Soars as AI Chip Revolution Continues

Nvidia’s Revenue Soars as AI Chip Revolution Continues

Stocks news
10 months ago

Nvidia reported fiscal third-quarter results that surpassed Wall Street’s predictions. The chipmaker’s revenue grew 206% year over year during the quarter ending October 29.Revenue came in at $18.12 billion vs. an expected $16.18 billion. Earnings al...

Weakening Oil Prices Force OPEC+ to Consider Cuts

Weakening Oil Prices Force OPEC+ to Consider Cuts

Economy news
10 months ago

So far this year, OPEC+ members have reduced operating oil capacity by over 5 million barrels per day. This equates to roughly 5% of global production.OPEC+ is mulling additional supply cuts, to be discussed at its next meeting. The move is being con...

New Argentina President Puts the Peso’s Future in Doubt

New Argentina President Puts the Peso’s Future in Doubt

Economy news
10 months ago

The victory of political outsider Javier Milei in Argentina’s presidential ballot has serious repercussions for the country’s struggling economy, including the embattled peso.A libertarian and former financial analyst who campaigned on a vow to drast...

Siemens Energy Suffers $4.9B Annual Loss

Siemens Energy Suffers $4.9B Annual Loss

Stocks news
10 months ago

Siemens Energy posted an annual loss of $4.9 billion in its earnings report released this week. The company’s wind turbine unit, Siemens Gamesa, is primarily responsible for the poor results.The German government is committed to ensuring that the cou...

Cisco Stock Falls after Product Order Slowdown

Cisco Stock Falls after Product Order Slowdown

Stocks news
10 months ago

Cisco Systems shares were down as much as 13% in extended trading on Wednesday after the networking hardware maker issued a dampened forecast for the current quarter and the full fiscal year.Revenue increased by 7.6% in the fiscal first quarter, whic...

Eurozone Growth Outlook Still Hampered by Inflation

Eurozone Growth Outlook Still Hampered by Inflation

Economy news
10 months ago

The European Commission this week tempered its eurozone growth expectations for 2023 and 2024, saying the high cost of living and interest rates were dragging down consumers and businesses.It adjusted its 2023 growth forecast to 0.6%, removing 0.2 pe...

Hyundai Breaks Ground on EV Superfactory in South Korea

Hyundai Breaks Ground on EV Superfactory in South Korea

Economy news
10 months ago

South Korean auto giant Hyundai Motor has started construction on a $1.5 billion mega factory in that country that will produce only electric vehicles.The group, which owns the Hyundai and Kia brands, conducted a much-publicized groundbreaking ceremo...

Treasury Yields Unmoved by Moody’s U.S. Downgrade

Treasury Yields Unmoved by Moody’s U.S. Downgrade

Economy news
11 months ago

Moody’s on Friday lowered its rating outlook on the United States government to negative from stable, pointing to rising risks to the nation’s fiscal strength.The rating agency noted that the country is not demonstrating effective fiscal policy measu...

U.K. Economy Shows No Growth in Third Quarter

U.K. Economy Shows No Growth in Third Quarter

Economy news
11 months ago

Gross domestic product in the United Kingdom was flat for the last quarter. After an increase of 0.2% in the previous quarter, the three months to the end of September yielded zero growth.Expressed annually, Britain’s third-quarter GDP was just 0.6%...

Bitcoin Tops $37,000, Carrying Crypto Industry With It

Bitcoin Tops $37,000, Carrying Crypto Industry With It

Cryptocurrency news
11 months ago

Bitcoin climbed to a fresh 2023 high on Thursday as excitement around a likely Bitcoin ETF approval grew toward a fever pitch.The price of the world’s top cryptocurrency climbed more than 3.5%, to touch $37,000 for the first time since May 2022. Ethe...

Microsoft Closes at All-Time High on AI Excitement

Microsoft Closes at All-Time High on AI Excitement

Stocks news
11 months ago

Microsoft closed Tuesday’s trading session at record highs of $360.53, after renewed excitement about growth from an important partner in artificial intelligence. The 1.12% daily jump gives the technology giant a market value of about $2.68 trillion....

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