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)
The issue of depreciation has long plagued the automotive industry, with cars losing their value as soon as they are driven off the lot. However, the depreciation rates for electric vehicles (EVs) are taking this concept to a whole new level. According to a recent study conducted by iSeeCars.com, the average price of a 1-
A recent case involving British billionaire Joe Lewis has brought to light the repercussions of sharing illegal stock tips. Lewis was ordered by a U.S. judge to pay a hefty fine of $5 million and serve three years of probation after pleading guilty to conspiracy and securities fraud. This case serves as a stark reminder
Drafthouse Films has recently acquired the rights to Caligula: The Ultimate Cut, a groundbreaking 4K Ultra HD reconstruction of the infamous Tinto Brass film. This new version, which premiered at the Cannes Film Festival in 2023, features never-before-seen footage, alternate takes, and camera angles that promise to provide viewers with a fresh perspective on this
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 recent scheduled visit of U.S. Treasury Secretary Janet Yellen to China marks a significant effort by both the United States and China to increase high-level communication in a relationship that has been tense in recent times. The purpose of the meetings is to deepen dialogue and address misunderstandings that have developed due to a
The recent re-election of Disney’s full board is a significant victory for shareholders, as they have decisively rejected activist Nelson Peltz and former Marvel CEO Ike Perlmutter’s push for change within the media conglomerate. Peltz and Perlmutter were advocating for removing directors such as Maria Elena Lagomasino and Michael Froman due to sustained share underperformance
In a recent development, Spotify’s shares surged by 6% following reports that the company is planning to raise prices for its premium subscription service. The American music streaming giant intends to implement this price increase in multiple markets, including the United States. This marks the second time in a year that Spotify is revising its
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
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
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