In the midst of the chaos caused by the collapse of fintech intermediary Synapse, there seems to be a ray of hope for the many Americans who have had their savings locked in frozen accounts for the past two months. Banks involved in the situation have reportedly made significant progress in piecing together account information
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EU antitrust regulators have recently accepted commitments from Apple to grant access to its tap and go payments technology to competitors, following a four-year investigation. This decision marks a significant milestone in the efforts to promote competition and innovation in the mobile payments industry. The European Commission launched an inquiry into Apple Pay in 2020,
Intuit, the parent company of TurboTax, recently faced a setback in midday trading as its shares fell by nearly 4%. This decline was a result of the company’s decision to cut 1,800 jobs, representing about 10% of its workforce. The move came as Intuit seeks to increase investments in artificial intelligence. However, it also announced
Chemours, a chemical company, saw a 3% increase in stock price after UBS upgraded the company from buy to neutral. This upgrade was based on the belief that the stock could outperform as refrigerants experience favorable demand and price drivers heading into the next year. This positive outlook indicates potential growth for the company in
The summer air travel demand in the United States has reached unprecedented levels, setting records for passenger numbers. However, this surge in demand has not translated into record profits for U.S. airlines. While some carriers have anticipated record demand and revenue, they are still facing financial challenges due to higher labor and operational costs. The
Investors face a challenging landscape of mixed economic signals and a soaring S&P 500 index. In such times of uncertainty, turning to research from top Wall Street analysts can provide guidance on stocks with strong fundamentals and growth potential. One such pick is Micron Technology (MU), a chipmaker that recently reported impressive results for the
Investors in Mainland China have been closely monitoring the performance of U.S. stocks, while expressing disappointment over the lackluster performance of domestic stocks. However, despite the macroeconomic differences, there have been some notable performers in the Chinese stock market in the first half of the year. One such stock is Foxconn Industrial Internet, a key
China’s leading electric vehicle manufacturer, BYD, has recently announced its acquisition of a 20% stake in its local distributor, Rever Automotive, in Thailand. This move signifies BYD’s commitment to strengthening its presence in Thailand, which is currently its largest market outside of China. The company has established itself as a market leader in the electric
Samsung Electronics has estimated a remarkable more than 15-fold increase in its second-quarter operating profit, indicating a significant rebound in its financial performance. This surge in profit can be attributed to the rise in semiconductor prices, driven by the artificial intelligence boom, which has substantially boosted earnings compared to a low base in the previous
The recent $2.65 billion deal between Saks Fifth Avenue parent HBC and department store chain Neiman Marcus is a strategic move to boost their negotiating power with vendors and enhance their ability to control costs. In the midst of a luxury retail market grappling with slowing demand due to high interest rates and inflation, this
Recently, the European Union has decided to increase tariffs on electric vehicles imported from China. This decision comes after the European Commission conducted an investigation that revealed producers of battery EVs in China were benefiting from “unfair” subsidization. The tariffs, ranging from 17.4% to 37.6%, are set to take effect on Friday, affecting automakers like
In the second quarter of the year, Ford saw a 1% increase in sales compared to the same period last year. The driving force behind this growth was a 5% increase in truck sales. This includes pickups and vans, with a total of 308,920 vehicles sold, marking Ford’s best second-quarter performance for this category since
United Airlines has taken a step towards improving customer experience by implementing a new method of communication during flight delays. Instead of passengers left in the dark wondering about the reasons behind the delays, the airline is now offering to send live radar maps directly to travelers. This innovative approach allows passengers to see for
General Motors recently reported its best quarterly sales performance in over three years, showcasing significant growth in various segments. The Detroit automaker’s second-quarter sales reached 696,086 units, marking a 0.6% increase from the previous year and the highest number of units sold since the fourth quarter of 2020. Notably, the sales of General Motors’ all-electric