The U.S. stock market experienced slight gains in volatile trading on Tuesday, with the Dow Jones Industrial Average up by 126 points, the S&P 500 increasing by 0.1%, and the NASDAQ Composite rising by 0.2%. Despite these gains, investors are cautiously weighing Federal Reserve Chairman Jerome Powell’s remarks signaling a need for higher rates for
Wall Street
Most Asian stocks experienced a sharp decline on Monday, driven by a combination of factors including an Iranian attack on Israel and concerns over higher U.S. interest rates. Despite Chinese stocks showing resilience and rebounding from a one-month low, the overall sentiment in regional markets was negative. Japan’s Nikkei 225 was among the worst performers
The Gulf markets experienced a slight drop following Iran’s unprecedented attack on Israeli territory, with Saudi Arabia’s benchmark stock index closing down by 0.3% and the main Qatari index down by 0.8%. On the other hand, shares in Tel Aviv’s broad index rose by 0.3%. The looming uncertainty due to the conflict between Iran and
Recently, U.S. Steel shareholders voted in favor of the proposed $14.9 billion acquisition by Japan’s Nippon Steel. However, despite the overwhelming support for the deal, political opposition has been mounting. This opposition is primarily based on national security concerns, with President Joe Biden stating that U.S. Steel should remain under American ownership. The United Steelworkers
The U.S. Senate Commerce Committee recently announced that it will be conducting a hearing next week with members of an expert panel that released a report criticizing Boeing’s safety culture. This comes in the wake of a series of safety incidents that have tarnished Boeing’s reputation, including a mid-air panel blowout on a 737 MAX
John Slattery, the chief commercial officer of GE Aerospace, has announced his decision to step down from the jet engine maker in June. Despite his departure from this role, Slattery will remain an adviser to the company. This transition comes as part of CEO Larry Culp’s restructuring efforts within the organization. Slattery, an Irish-born industry
The e-commerce giant Alibaba Group’s shares surged in Hong Kong following Chinese media reports that Jack Ma endorsed the firm’s current leadership in an internal memo. This endorsement from Jack Ma, one of the co-founders of Alibaba, helped boost investor confidence and led to a 5.4% rally in the company’s shares to HK$74.25 – its
The global airline industry is currently experiencing a summer squeeze, with travel demand projected to exceed pre-pandemic levels. However, this surge in demand is juxtaposed with a significant drop in aircraft deliveries, largely due to production issues at Boeing and Airbus. Airlines are facing the challenge of operating older, less fuel-efficient aircraft while spending billions
In a recent turn of events, Tesla has reached a settlement in a lawsuit regarding a fatal 2018 car crash that resulted in the death of an Apple engineer. The incident, which occurred near San Francisco, involved a Model X operating on Tesla’s Autopilot feature. This settlement, which comes after a five-year legal battle, was
X Corp, previously known as Twitter, has recently faced legal challenges in Brazil that have caused the company to block certain popular accounts. Despite the importance of transparency in social media platforms, X Corp has been prohibited from giving details of the court orders that necessitated these blocks. This lack of transparency not only goes
In a recent ruling by the 5th U.S. Circuit of Appeals, a Texas judge’s decision to transfer an industry-backed lawsuit challenging an agency rule on credit card late fees to Washington, D.C., has shone a spotlight on the issue of “judge shopping” in the United States. This ruling has sparked a broader debate over the
Samsung Electronics has reported a substantial increase in its first-quarter operating profit, estimating a more than 10-fold rise compared to the same period last year. The rebounding semiconductor prices have played a significant role in lifting earnings for the South Korean tech giant. The company estimated an operating profit of 6.6 trillion won ($4.89 billion)
Paramount Global’s board members have made a crucial decision to engage in exclusive merger discussions with Skydance Media, instead of considering a $26 billion bid from Apollo Global Management. This move signifies a significant shift in the direction of the media empire built by the late Sumner Redstone, potentially ending Shari Redstone’s control over the
The global stock markets experienced a significant rebound after the release of data indicating a slowdown in the growth of the U.S. services industry in March. This slowdown suggested that inflation may be subsiding, leading many to believe that interest rate cuts by the Federal Reserve could be on the horizon. However, the robust economic