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Last year marked a significant milestone in the artificial intelligence sector, with Nvidia emerging as the most prominent beneficiary. The chipmaker reported a staggering increase in its profits, which soared to nearly $12.3 billion in the final three months of ...

HSBC, the Asia-focused lender, reported a substantial 80% decrease in its pretax profits in the final quarter of 2023, attributing the decline to charges related to its exposure to China's troubled real estate industry and its stake in Bank of ...

While there are concerns that decentralized finance (DeFi) could undercut the U.S. dollar's global dominance, Federal Reserve Governor Christopher Waller foresees a potential positive impact. At a recent banking conference, Waller emphasized the evolving payments landscape, including the boom in ...

The U.S. Federal Reserve's anticipated rate cuts later this year could be a positive development for several Asian currencies. Higher interest rates generally lead to a stronger currency. Still, the Fed's shift toward a more dovish stance could lead to ...

The United Kingdom has officially entered a recession, posing a challenge to Prime Minister Rishi Sunak's economic growth agenda. The nation's gross domestic product (GDP) decreased by 0.3% in the last quarter of 2023, after already experiencing a 0.1% decline ...

Japan has relinquished its position as the world's third-largest economy, with Germany stepping into the spot. This development comes as Japan unexpectedly enters a recession, marking a significant change for a country that once held the title of the world's ...

The UK's inflation rate for January held its ground at 4%, defying analysts' forecasts of a climb to 4.2%, according to the Office for National Statistics (ONS). This figure, which is double the 2% target set by the Bank of ...

Bitcoin's value has soared above the $50,000 mark, reaching a peak not seen in over two years. This week, the cryptocurrency hit $50,168.36, a 4% increase, with an earlier peak at $50,334.00. This marks its highest level since December 2021. Ether ...

Germany, the world's fourth-largest economy, has faced a challenging start to the year marked by industrial unrest, including strikes by Lufthansa's ground crew, train drivers, and farmers protesting subsidy cuts. These incidents underscore the broader economic difficulties facing Germany, which saw ...

The dollar is making a comeback after a tumultuous 2023, defying earlier expectations of an imminent decline due to potential interest rate cuts. The US Dollar Index, a measure of the currency's strength against a basket of foreign currencies, has risen ...

Turkey's persistent inflation problem persists, with official data for January revealing that the annual inflation rate remained steadfast at 64.86%—a slight increase from December's 64.77%. However, the monthly inflation rate saw a spike, jumping from 2.9% in December to 6.7% in ...

Uber Technologies Inc. delivered an impressive performance in its fourth-quarter financial results, surpassing analysts' expectations on both revenue and earnings per share. The company's revenue saw a significant increase, reaching $9.94 billion, a 15% rise from the previous year, outpacing the ...

As tensions in the Middle East escalate, the global oil market is experiencing significant fluctuations. On Tuesday, the price of oil witnessed a notable increase, largely influenced by the ongoing conflict and diplomatic efforts to establish peace in the region. West ...

In a strong display of economic resilience, the US added a remarkable 353,000 jobs in January, a figure significantly higher than the consensus estimate of 176,500. This robust job growth defied expectations, marking a solid start to 2024 and underscoring the ...

In a volatile week for Chinese stocks, the Shanghai Composite and Shenzhen Component indexes plummeted by 6.2% and 8.1% respectively, marking their steepest declines since late 2018. Since the beginning of the year, these indexes have diminished by over 8% ...