Hurricane Beryl has wreaked havoc in the Caribbean, being declared the strongest-ever hurricane in July. The tropical cyclone has set various records, with experts pointing to climate change as a contributing factor. It developed at a rapid pace earlier in the year compared to similar phenomena, making it the strongest hurricane on record for both
World
Federal Reserve Chair Jerome Powell recently spoke at a central banking forum in Sintra, Portugal, where he expressed satisfaction with the progress made on inflation over the past year. Powell highlighted that inflation is moving towards the Fed’s 2% target but mentioned the need for more assurance before considering cutting interest rates. The discussion at
Facebook’s parent company, Meta, is facing scrutiny from EU regulators for allegedly failing to comply with the bloc’s antitrust regulations regarding its ad-supported social networking service. The Commission has raised concerns about Meta’s “pay or consent” model, which forces users to choose between paying for an ad-free experience or consenting to their data being used
French President Emmanuel Macron surprised both the electorate and political analysts when he announced a snap parliamentary election after his Renaissance party faced a defeat in the European Parliament elections. The move was seen as a gamble to secure a clear majority in the National Assembly and prevent the far-right National Rally group from gaining
The recent snap presidential elections in Iran have shown a tight race between a low-key moderate candidate, Massoud Pezeshkian, and a hardline challenger, Saeed Jalili. As provisional results by the interior ministry indicate, Pezeshkian has secured over 5.9 million votes while Jalili has garnered over 5.5 million votes. However, the turnout for the elections was
France’s parliamentary election has sparked concern among investors as the country’s risk premium continues to rise, impacting not only the French market but also stocks in the wider European region. Citi’s head of global equity strategy, Beata Manthey, highlighted two possible scenarios that have not yet been fully priced in by markets, potentially leading to
H&M, the world’s second-largest retailer, faced a major blow as its shares plummeted over 14% following a disappointing second-quarter report. The company reported lower-than-expected profits, with operating profit coming in at 7.1 billion Swedish kroner, falling short of analysts’ expectations of 7.37 billion Swedish kroner. While this figure was an improvement from the previous year,
The recent survey conducted by the China General Chamber of Commerce in the U.S. revealed that a majority of Chinese enterprises operating in the U.S. maintain a positive long-term outlook, despite the increasingly challenging business environment and strained U.S.-China relations. The survey found that nearly 60% of companies are looking to maintain a stable level
Chinese Premier Li Qiang recently spoke at the opening of the World Economic Forum’s “Summer Davos” meeting in Dalian, China, where he defended his country’s technological development. He emphasized that China’s rapid rise in new industries is rooted in its unique comparative advantages. These advantages include a large market, industrial network, labor force, diverse application
The European Union regulators have recently accused Apple of violating new tech rules. These rules, under the Digital Markets Act (DMA), prohibit tech companies from preventing businesses from informing their users about cheaper alternatives to their products. One of the areas of focus in the investigation is Apple’s anti-steering rules, which do not allow app