Meta, previously known as Facebook, announced its third-quarter financial results, surpassing expectations and showcasing the company’s impressive growth. The social media giant reported a 23% increase in revenue, marking its fastest rate of growth since 2021. As a result, Meta’s stock surged more than 2% in extended trading on Wednesday. Let’s delve into the key
World
Investors in the Asia-Pacific region experienced a mixed day of trading as they evaluated various economic indicators. Private surveys of business activity from Japan and Australia, as well as the October producer price index from South Korea, were closely monitored. These indicators provided important insights into the health of these economies and influenced market sentiment.
Intel, the industry giant dominating the PC chip market, experienced a significant setback with a 3% drop in stock value. This decline was triggered by the news that Nvidia and AMD are actively working on developing Arm-based PC chips. In contrast, Arm’s stock surged nearly 5%, while Nvidia witnessed a gain of almost 4% during
Switzerland’s recent legislative election showcased a rise in support for the country’s right-wing populist party, while the leading Green party experienced a decline in popularity. The election results, based on exit polls conducted by Switzerland’s public broadcaster, suggest that the right-wing Swiss People’s Party is expected to strengthen its position as the largest faction in
Chinese companies have shown a strong desire to list on U.S. stock exchanges, but the process has become increasingly complex, according to Kobe Ge, the head of China at the New York Stock Exchange. Despite the challenges posed by the COVID-19 pandemic and regulatory uncertainty, there is still significant interest from Chinese businesses to list
The diplomatic crisis between Canada and India has reached a new height with Canada pulling 41 diplomats and their families from India. This move comes after India threatened to revoke the diplomatic immunities of Canadian diplomats if Ottawa did not comply with demands for parity in diplomatic staffing. The tensions between the two countries have
The latest data from the Labor Department shows a decline in initial filings for unemployment benefits last week, highlighting the tightness of the U.S. labor market. However, economists have expressed concerns about the potential impact on inflation and the worry that the downward trend in claims might not continue. For the period ended Oct. 14,
Foxconn, the world’s largest contract electronics manufacturer, has revealed its semiconductor strategy, highlighting a focus on producing “specialty chips” rather than competing in cutting-edge technologies. This strategic approach aims to cater to specific sectors such as automotive and the internet of things (IoT), where mature technology is commonly used. In contrast, leading-edge players like Taiwan’s
Top economists and central bankers are in agreement that interest rates will remain higher for longer, raising concerns about the global market outlook. Central banks worldwide have been aggressively hiking interest rates over the past 18 months to curb soaring inflation, with varying degrees of success. The United States Federal Reserve, after a pause in
China has joined the international chorus calling on Israel to halt its collective punishment of Palestinian civilians in the Gaza Strip. As U.S. Secretary of State Antony Blinken embarked on a Middle East tour to prevent further escalation, China’s Foreign Minister Wang Yi urged Israel to stop its aggressive actions. This article analyzes the ongoing