The market saw Intel taking a nosedive by 7% due to a whopping $7 billion operating loss in its semiconductor manufacturing division in 2023. The tech giant’s struggle in this sector is concerning, and investors may be wary of the long-term implications of such a significant loss. On the other hand, Spotify Technology experienced a
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Film Movement has recently obtained the North American rights to “Close Your Eyes” directed by Victor Erice, a highly acclaimed Spanish director. The film, officially selected for prestigious film festivals including Cannes, Toronto, NYFF, San Sebastian, and BFI London, has garnered attention and critical acclaim. Winning a special citation from the National Society of Film
The European Central Bank is contemplating the idea of initiating an interest rate cut in the month of June. This decision is being prompted by the anticipated faster decrease in inflation rates. However, it is crucial for the ECB to be cautious and not get too ahead of the U.S. Federal Reserve in order to
Legendary/Warner Bros.’s Godzilla x Kong: The New Empire is showing no signs of slowing down at the box office. After an impressive $80M Easter weekend start, the movie is projected to have a strong second weekend with a -55% to -60% drop, bringing in between $32M-$36M. The Adam Wingard directed Monsterverse title has already accumulated
The workers at Mercedes Benz’s assembly plant in Alabama are gearing up to join the United Auto Workers union. This move is expected to create a significant impact on the labor dynamics of the automotive industry in the United States. The efforts to unionize the plant have reached a critical point, with workers planning to
Federal Reserve President Loretta Mester remains optimistic about potential interest rate cuts this year, despite ruling out the possibility of cuts at the next policy meeting in May. She emphasizes the importance of data in shaping her confidence in the trajectory of inflation, indicating that her perspective on rate cuts is reliant on the progress
The spring housing market has defied expectations by not cooling down despite higher mortgage rates. Typically, higher rates lead to a decrease in both prices and demand, but that is not the case at the moment. The current situation is a result of the shortage of homes for sale, as existing homeowners are unable to
Cleveland Fed President Loretta Mester recently expressed her stance on interest rate cuts, emphasizing the need to strike a balance between cutting rates too early and keeping them higher for an extended period. She highlighted the risks associated with both scenarios, pointing out that premature rate cuts could undo progress made on inflation, while maintaining
Tesla has just released its first-quarter vehicle production and deliveries report for 2024. The key numbers from the report are as follows: – Total deliveries Q1 2024: 386,810 – Total production Q1 2024: 433,371 – Shares dropped 7% in premarket trading Although Tesla does not provide a detailed breakdown of sales by model, the report
When it comes to conducting business, Singapore, Denmark, and the United States have been identified as the top countries in the world. According to the Economist Intelligence Unit business environment ranking, Singapore has maintained its position as the best geography for business for the past 16 years. Factors such as political stability and the government’s
Micron Technology saw a 5.4% increase in shares after Bank of America raised its price target on the chipmaker. This comes as the Wall Street firm predicts that demand for high-bandwidth memory technology will surpass $20 billion by 2027. The positive outlook from Bank of America has certainly given Micron Technology a boost in midday
The decision by Macy’s to close approximately 150 stores has not come without notice from its retail competitors. In interviews with CNBC, Target CEO Brian Cornell and Kohl’s CEO Tom Kingsbury expressed optimism about the opportunity this presents for them to increase their own sales. Off-price chain T.J. Maxx is also expected to benefit from
United Airlines is facing challenges due to delayed aircraft deliveries from Boeing, leading the airline to request pilots to take unpaid time off. The United chapter of the Air Line Pilots Association informed its members that the remaining forecasted block hours for 2024 have been significantly reduced as a result of changes to Boeing deliveries.
Paychex, a payroll and human resources software provider, is set to release its earnings report tomorrow. Last quarter, the company reported revenues of $1.26 billion, falling short of analyst predictions by 0.7%. This disappointing performance raises questions about the company’s ability to meet market expectations. Analysts are currently anticipating a 5.5% year-on-year increase in revenue