While the signs had been clear that it would be a difficult quarter, analysts were still taken aback as the numbers were far lower than their revised estimates had suggested. The company delivered 8.5% fewer cars than in the same period of 2023, surprising analysts who had expected to see an increase. The news caused…
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Data from the Urban Redevelopment Authority (URA) shows a quarter-on-quarter private residential property increase of 1.5% while sale transaction volumes plunged by approximately 20%. Bloomberg reports that Chia Siew Chuin, the head of residential research for Singapore at Jones Lang LaSalle Inc., said these statistics support and reflect local property demands. This economic mecca has,…
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According to information from Reuters, the company foresees core profit growth (EBITDA) of roughly €207m (3.5%) and revenue increases of about €316m (3.8%). The organisation indicated that these increases include its traditional activities and diversified enterprises. Reuters cited Rai Way’s CEO, Roberto Cecatto, who said: We are striving for a Rai Way that … is…
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The five investigations concern potential breaches by Alphabet Inc’s (GOOG), which owns Google, Apple Inc. (AAPL), and Meta Platforms, Inc. (META). Instigating these probes only two weeks after the DMA’s deadline shows the European Union (EU) is taking the legislation and gatekeeper compliance seriously. The law came into effect on 7 March 2024. It requires…
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Trading kicked off at $47 per share and shot up to $57.80, a 70% spike, during the day. The company and its shareholders raised an estimated $750m, with Reddit pocketing approximately $519m. Its current market cap sits at $9.5bn. The success of the IPO at this price appears to back up the company’s decision to…
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At the end of January 2024, the wealth fund reported a record 2023 profit of $213bn and a current value of $1.6tn. Based on a Reuters report, Svein Richard Brandtzæg, the chairperson of the Council of Ethics, said that due to the Gaza conflict, it must determine which organisations sell weapons used in the war…
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This makes it the first developed nation to cut interest rates after the COVID-19 pandemic, the fall of Credit Suisse, the onset of the war in Ukraine, and persistent inflation pressures. Switzerland’s central bank explained its decision by stating that local inflation will probably remain below 2% for the foreseeable future. Despite this announcement and…
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Suleyman also co-founded DeepMind, the artificial intelligence (AI) outfit bought by Alphabet Inc’s Google (GOOG) in 2014. Industry experts believe that this move fortifies Microsoft’s reputation as an AI stalwart in big tech circles and forms part of CEO Satya Nadella’s drive to acquire top expertise. Suleyman will head Microsoft’s new consumer AI unit, while…
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Capital One's strategic acquisition of Discover's payments processing and settlement services network is seen as a move to diversify its payment processing partners, aiming for a $1.2 billion boost by 2027. This development has been viewed unfavourably for Visa and Mastercard, with their shares dropping 1.8% and over 2%, respectively, as analysts anticipate a competitive…
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It was influenced by diminishing inflation and the anticipation of the Federal Reserve reducing interest rates within the year. On a recent Friday, Goldman Sachs predicted an 8% rise in profits for S&P 500 firms, driven by a more optimistic outlook for the U.S. economy and enhanced profit margins among the largest corporations. David Kostin,…
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