The recent decision by the European Union to lower tariffs on electric vehicle imports from China has sparked a strong reaction from the Chinese government. The Ministry of Commerce in China has criticized the EU for what it views as unfair competition practices and pre-set conclusions regarding China’s subsidies for its electric vehicle industry. This
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The dollar has reached its lowest point this year against the euro amidst anticipation for significant revisions to U.S. payrolls data. Traders are closely monitoring the situation ahead of a speech by Federal Reserve Chair Jerome Powell at the end of the week. The pressure on the U.S. currency is further compounded by the decline
Activist investing has been gaining significant attention in the financial world, with firms like Elliott Management making bold moves to influence the trajectory of various companies. CNBC’s Leslie Picker has been closely following Elliott Management’s recent activist campaigns, shedding light on the impact they have had on the stock market. Elliott Management has emerged as
State Street has joined forces with Swiss crypto company Taurus to introduce new digital asset services catering to the rising institutional demand for such investments. This move comes as cryptocurrencies continue to gain traction within the financial system, prompting institutions to explore options for hedging inflation and diversifying their portfolios. State Street, a leading provider
In a recent development, OpenAI announced a partnership with Condé Nast that will have far-reaching implications for the future of media outlets and content creation. This collaboration will see OpenAI’s advanced AI products, including ChatGPT and SearchGPT, being utilized to display content from a variety of popular media platforms such as Vogue, The New Yorker,
The Broadway box office experienced a noticeable decline in the second full week of August, with a dip of about 9% compared to the previous week. The 25 shows grossed a total of $28,132,262, indicating a downward trend in overall revenue. This decrease can be attributed to various factors such as the absence of Illinoise
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
Alaska Airlines has successfully cleared the U.S. Justice Department’s investigation after announcing their $1.9 billion agreement to acquire Hawaiian Airlines. This marks a significant milestone in the merger process as antitrust regulators did not file a lawsuit to block the deal. The next step for the airlines is to secure approval from the U.S. Transportation
The commodity market hit a new high in Monday’s trading session, reaching $2,549.90. This performance marks an increase in value for 8 out of the last 9 trading sessions. Gold has surged by 4.5% over the past nine days, while silver has seen an impressive gain of 8.4% during the same period. Additionally, the VanEck
Recently, California Governor Gavin Newsom signed a series of laws aimed at addressing the escalating issue of retail crime in the state. These laws target various aspects of retail theft, including shoplifting, theft from vehicles, organized theft, and the resale of stolen goods online. The new legislative package comes as a response to mounting pressure
Alphabet-owned Waymo recently announced the details of its latest self-driving technology, known as “generation 6.” This new driverless tech has been integrated into Geely Zeekr electric vehicles and is designed to handle a wider array of weather conditions without the need for as many expensive cameras and sensors on board. Satish Jeyachandran, Waymo’s vice president
After a strong performance last week, global equities are experiencing a slight pause as Asian stocks take a breather on Monday. The anticipation of interest rate cuts in the U.S. economy has provided a sense of relief, with expectations that this move will help dodge a recession and address cooling inflation concerns. Central Bankers Hint
The freight rail network in Canada is currently facing a major threat as the country’s two largest railroad operators, Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC), have issued lockout notices to the Teamsters union representing nearly 10,000 workers. If last-minute deals are not reached, both CN and CPKC plan to lock out
Coraline, the stop-motion animated film by Henry Selick, celebrated its 15th anniversary with a solid performance at the domestic box office. The movie secured the fifth spot with $8.63 million over the three-day weekend, playing on 1,603 screens. The total earnings reached $11.6 million, surpassing its previous record for Fathom Events. Last year, Coraline became