Among the main targets of the country’s ruling Communist Party is boosting consumer spending as a way of driving the economy forward. 2023’s 5.2% growth had been an improvement on the meagre 3% achieved in 2022 as China continued to feel the effects of the COVID-19 pandemic. Li has spoken about having to find a…
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Known as Gigafactory Berlin-Brandenburg, Tesla applied to double its manufacturing capacity to 1 million electric vehicles (EVs) per year in July 2023. This plant reportedly rolled out 6,000 EVs per week just before it halted operations due to a component shortage in January 2024. At the time, plant director Andre Thierig said in a Tagesspiegel…
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Germany's 10-year bond yield, a European financial benchmark, plunged by three basis points (bps) to 2.365%. On Thursday, 29 February 2024, this yield was 2.513%, the highest it has been since November 2023. Markets anticipate an unchanged stance on interest rates but hope that ECB president Christine Lagarde may drop hints as to when any…
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Tickmill, a leading multi-regulated broker, recently partnered with Capitalise.ai, a pioneer in AI-based trading and analysis solutions. This alliance aims to bring cutting-edge AI analysis and automation to Tickmill's traders. Innovative Technology to Empower Traders Capitalise.ai's platform allows traders to analyse and automate market scenarios using plain English, eliminating the need for coding skills. Consequently,…
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SMCI’s arrival was announced in a press statement, which confirmed that the company and Deckers Outdoor Corp (DECK) will be replacing Zions Bancorporation (ZION) and Whirlpool Corp (WHR) in the S&P 500 with immediate effect. SMCI sells AI-optimised computer services to businesses across the planet. It works closely with Nvidia (NVDA) to provide customisable data…
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This bank holding company’s stock plummeted by 23% at the close of trading on Monday, 4 March 2024, only days after it appointed a new CEO and identified issues with its internal controls regarding its loan practices. Even though the bank indicated these obstacles would not affect its 2023 financial results, its stock continues to…
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Legally, companies owning more than a 5% stake in a publicly listed business must report this to the SEC and indicate whether they intend to control or influence the organisation. As of 31 December 2021, HG Vora has owned a 5.6% interest in Ryder, but it only reported this to the SEC in February 2022.…
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The company described the issue as relating to certain deficiencies that it has identified and that it regards as being a “material weakness” relating to its internal controls in terms of financial reporting matters. These reported deficiencies are around IT controls, and it confirmed that it’s working on it so that the annual report can…
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ABC News reported that Meta entered into agreements with Australian media agents after this country introduced the News Media Bargaining Code. This law requires big tech companies to pay for the news they display on their sites. Don’t miss out the latest news, subscribe to LeapRate’s newsletter Worth millions of dollars, these deals are due…
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Apple is believed to have had 2,000 employees working on the EV project at its height, but has never officially confirmed how far it has got with it. It has now been reported that Apple is still years away from producing a car, which has led to the firm pulling the plug to concentrate on…
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