The US Bureau of Economic Analysis (BEA) said that during Q1 2024, US GDP grew by 1.6% according to the ‘advance’ estimate. The BEA stated: In the fourth quarter of 2023, real GDP increased 3.4 percent. The increase in the first quarter primarily reflected increases in consumer spending and housing investment that were partly offset…
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The Telegraph reported that the clampdown on the sale and ownership of combustion engines may force Stellantis to cease operations in Britain. According to the Telegraph, Carlos Tavares, the chief executive officer of Stellantis, indicated that a law curbing petrol car sales will compel manufacturers to either sell vehicles at a loss, limit the amount…
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Economists attributed this positive performance to the biotechnological company’s cost-cutting drive and an uptake in sales of its newly-launched Alzheimer’s drug, LEQEMBI. Analysts predicted that the sales of this treatment would be between $13mn and $30mn. Biogen’s Q1 sales of LEQEMBI, as noted by its Japanese partner, Eisai Co., Ltd. (4523.T), were $19mn. Don’t miss…
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Revenue was reported at $42.78bn, which exceeded the $40.04bn that had been anticipated. In terms of earnings per share, $0.49 was also better than the estimated figure of $0.42. Net income of $1.3bn has been reported, and adjusted EBIT of $2.8bn. The Ford Pro commercial fleets division provided one of the most impressive returns, with revenue…
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This is the weakest JPY/USD performance since the mid-1990s. All eyes are now on the Bank of Japan (BOJ) as the markets expect some intervention from this monetary policymaker to bolster the yen. Don’t miss out the latest news, subscribe to LeapRate’s newsletter This currency’s weakness sparked market angst as the Japanese finance minister, Shunichi…
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The company’s better-than-expected results were said to be linked to increased credit card spending in the US, where Visa obtains over 40% of its overall global revenue. Adjusted net income for the quarter climbed by 17% to $5.1bn, working out as $2.51 per share. This was $0.07 better than the average analyst prediction. Don’t miss…
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2023 saw Meta’s Reality Labs division lose $16bn, so CEO Mark Zuckerberg announced on Monday that it will be opening up the system so that other tech companies can make hardware using it. His announcement pointed out that Microsoft, ASUS and Lenovo are among the selected early partners that will be working with Meta on…
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The users reportedly claim the gay dating app shared personal information, which included HIV statuses, with third parties. Law firm Austen Hays indicated it filed the lawsuit at the London High Court, alleging this could affect thousands of UK users. According to this filing, Austen Hays claims Grindr gave sensitive personal information to third parties…
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This disappointing day followed a weak revenue forecast and confirmation that it will stop reporting subscriber numbers next year. Despite this fall, Netflix is still up 14% so far this year following a strong start to 2024. Expectations for the streaming giant’s Q1 results had been climbing recently, as analysts predicted excellent gains. When the…
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The Norwegian sovereign wealth fund, one of the largest global investors, announced that its market value had increased to $1.6tn on Thursday, 18 April 2024. The fund further reported that most of its investments (72.1%) consisted of equities, 26% of fixed income, 1.8% of unlisted real estate, and 0.1% of renewable energy infrastructure. It reportedly…
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