In March, the latest data from the Commerce Department revealed that inflation continued to surge, with the personal consumption expenditures price index excluding food and energy increasing by 2.8% from a year ago. This figure matched the previous month’s rate, exceeding the Dow Jones consensus estimate of 2.7%. When including food and energy, the all-items
World
Venice recently made headlines by becoming the first city in the world to charge a fee for tourists visiting the historic city. The pilot program, initiated to combat the effects of overtourism and improve the quality of life for residents, implemented a 5 euro fee for day-trippers. While this move has been praised by some,
Xiaomi, the Chinese smartphone company, has taken the electric vehicle market by storm with its new electric SU7 sedan. Despite undercutting Tesla’s Model 3 on price, Xiaomi has managed to surpass expectations by receiving over 70,000 orders for its electric vehicle as of April 20. CEO Lei Jun revealed that the company is on track
Goldman Sachs’ David Kostin recently discussed his expectations for higher earnings despite worries about margin pressures in the face of rising inflation. Kostin highlighted the performance of companies during this earnings season, revealing that about one-fifth of companies have reported their earnings thus far. From these reports, he noted that approximately two-thirds of companies have
The chief executive of Norway’s massive sovereign wealth fund recently commented on the tech sector, highlighting concerns about excessive valuations. With major tech companies such as Tesla, Meta, Microsoft, and Google parent Alphabet set to report their earnings, there is speculation about the sustainability of the current market froth. The Nasdaq Composite experienced a significant
The recent historic rains in the United Arab Emirates caused severe flooding and chaos at Dubai’s airport, impacting hundreds of flights and leaving thousands of customers stranded. In response to this situation, the CEO of Emirates airline, Tim Clark, issued a heartfelt apology letter to all affected customers. In the letter published on the airline’s
Russia has strongly criticized U.S. lawmakers for approving $60.84 billion in additional support for Ukraine. According to Russia, this move signifies Washington’s deeper involvement in what they call a hybrid war with Russia. The support provided by the U.S. has been viewed as a direct challenge to Russia, with comparisons made to historical military failures
The recent Bitcoin halving event marks a significant milestone for the cryptocurrency market, with miner rewards being reduced to 3.125 bitcoins from 6.25. This has caused a stir in the market, with the price of Bitcoin experiencing volatility in the days leading up to the event. The price of Bitcoin fell by around 4% this
The recent military strike carried out by Israel on Iran has sent shockwaves through the oil markets, leading to a more than 3% jump in oil prices. The strike, which targeted Iran’s nuclear facilities in the Isfahan province, has raised concerns about the possibility of a widening conflict in the already volatile Middle East region.
China has voiced its strong opposition to the recent U.S. investigation into its maritime, logistics, and shipbuilding industries. The Chinese Ministry of Commerce has labeled this move as a “mistake on top of a mistake,” emphasizing that the development of China’s industries is a result of technological innovation and active market competition, rather than unfair