China’s economic landscape has seen a significant shift in recent years, with some cities thriving while others struggle to keep up. The latest data from the Milken Institute’s best performing cities China index reveals a mixed bag of results for the country’s large- and mid-sized cities. Hangzhou, the capital of Zhejiang province and home to
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Travel spending among American households has shown a significant increase post-pandemic, with international trips being a key contributor to this trend. According to economists Taylor Bowley and Joe Wadford from the Bank of America Institute, travel spending remains much higher than pre-pandemic levels, with a 10.6% increase per household. This surge in spending is supported
The recent tumble in PDD’s stock price highlights the changing landscape of China’s consumer market. The era of double-digit growth seems to be a thing of the past, with signs of a prolonged slowdown on the horizon. Despite this overarching trend, it’s important to note that not all companies are facing the same challenges. While
Intel, the chipmaker, saw its stock price surge by 8.5% following news of the company’s collaboration with bankers to explore options to address weaknesses in its core business. This strategic review has instilled confidence in investors, resulting in a positive market reaction. Conversely, Elastic NV’s stock plummeted over 27% after its fiscal second-quarter revenue forecast
Dollar General experienced a sharp decline in its stock value, nearly 30%, after announcing a reduction in sales and profit guidance for the year. CEO Todd Vasos attributed the weaker sales to financially constrained core customers. This news not only affected Dollar General but also led to a 9% drop in shares for competitor Dollar
Recently, U.S. government researchers traveled to a South Korean mine to evaluate the progress being made towards increasing the supply of tungsten from sources outside of China. The Sangdong Mine, owned by a subsidiary of Almonty Industries based in Canada, is expected to resume operations this year. Tungsten, an essential metal used in the production
The collaboration between Volkswagen and Xpeng in the realm of electric cars for the Chinese market has been gaining momentum. With Volkswagen’s $700 million investment in Xpeng to jointly develop two electric cars for delivery in China by 2026, it is evident that both companies are committed to pushing the boundaries of innovation. Xpeng’s co-president
Ignoring a big tax bill can have serious repercussions when it comes to your passport. Recent years have seen an increase in cases where the federal government revokes or limits passports due to seriously delinquent tax debts. It is crucial for taxpayers to understand the potential risks involved in ignoring their tax obligations. A “seriously
In the recent quarterly reports of major Chinese companies, it has been highlighted that the local market poses challenges for stock pickers. Lorraine Tan, the director of Asia equity research at Morningstar, emphasized in a recent interview the unique outperformance of certain companies in the market. This trend suggests that there is more weakness across
In anticipation of the Federal Reserve’s upcoming interest rate decision in September, more and more investors are turning their attention towards dividend stocks. Paul Baiocchi of SS&C ALPS Advisors believes that this is a wise move, especially with his prediction of the Fed easing rates. He notes that investors are shifting away from money markets
In the wake of the Covid-19 pandemic, remote work has transformed from a temporary solution to a lasting feature of the U.S. labor market. Economists agree that this shift represents one of the most significant changes in recent decades, with the potential to shape the way we work for years to come. According to Nick
Several companies are making positive strides in pre-market trading, indicating potential growth and investor interest. Companies such as Crocs, Agilent Technologies, and Nordson experienced stock increases after surpassing expectations in their fiscal reports. This signifies strong performance and the possibility of sustained success in the future. Additionally, companies like Synopsys and Wolfspeed showed resilience in
The recent downward revisions to U.S. payrolls, amounting to 818,000 jobs – the largest since 2009, have sparked a great deal of debate regarding their significance. Some are quick to interpret these revisions as a signal of an impending recession, drawing parallels to the economic downturn of 2009. However, it is crucial to carefully consider
Bank of America’s stock took a hit, falling 2% after Warren Buffett’s Berkshire Hathaway revealed it was further reducing its stake in the bank. This news comes after a 12-day selling streak that started in mid-July, with the conglomerate selling 13.9 million more shares for $550.7 million over the past three trading days. Berkshire’s stake