China’s industrial profits have taken a hit in March, with slower gains for the quarter compared to the initial two months of the year. Official data from the National Bureau of Statistics (NBS) revealed that cumulative profits of China’s industrial firms only rose by 4.3% to 1.5 trillion yuan ($207.0 billion) in the first quarter
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In a recent development, it was reported that Daimler Truck has reached a new labor contract with over 7,300 hourly workers who are represented by the United Auto Workers (UAW) at six facilities in the U.S. South. This agreement has effectively averted a potential strike at the eleventh hour, bringing relief to both the company
Amazon MGM Studios’ Challengers starring Zendaya has garnered attention with its $1.9 million in previews on Thursday. However, it fell short of Universal’s Cocaine Bear by $100,000. The film, directed by Luca Guadagnino, aims for a $15 million opening weekend. Despite receiving critical acclaim at 91% certified fresh, last night’s audiences gave it a lukewarm
Royal Caribbean (NYSE:RCL) experienced a significant surge of 4.8% in its stock following the announcement of their first-quarter earnings, which managed to exceed analyst expectations by quite a margin. The cruise operator reported a higher adjusted EPS of $1.77 compared to the consensus estimate of $1.32. This positive outcome was also reflected in the revenue
SK Hynix, a prominent South Korean memory chipmaker, has reported a remarkable turnaround in its financial performance in the first quarter of the year. With a net profit of 1.92 trillion South Korean won ($1.39 billion), the company has managed to reverse the loss of 2.58 trillion won that was incurred in the same period
Walgreens recently announced its plans to partner directly with drugmakers to provide cell and gene therapies to patients in the United States. This initiative is part of a broader expansion of the company’s specialty pharmacy services. The establishment of a new business unit dedicated to the specialty pharmacy segment, which includes AllianceRx as a subsidiary,
The fourth installment in the popular Korean franchise, The Roundup: Punishment, has made history by setting a new all-time opening day presales record in its home market. With over 834,000 ticket reservations as of Wednesday morning local time, the crime actioner has accounted for an impressive 95.5% of all sales. This surpasses the franchise’s own
Elon Musk recently found himself in hot water after making controversial comments aimed at an Australian senator. The conflict arose after Australia’s federal court ordered Musk’s platform X to temporarily stop showing video footage of a knife attack on an Assyrian bishop during a church service in Sydney. In response, Musk accused Australia’s leaders of
In a shocking turn of events, Changpeng Zhao, the founder of Binance, the largest cryptocurrency exchange in the world, has been dealt a massive blow. U.S. prosecutors have recommended that Zhao be sentenced to 36 months in prison after pleading guilty to violating laws against money laundering. This revelation has sent shockwaves throughout the cryptocurrency
Xiaomi, a Chinese smartphone company, has recently made a foray into the electric vehicle market with its new electric SU7 sedan. Despite undercutting Tesla’s Model 3 on price, the new electric vehicle has been selling better than expected. As of April 20, Xiaomi has received more than 70,000 orders for the SU7 sedan, putting the
Jack Dorsey, the CEO of Block (formerly Square), has announced that the company is taking its bitcoin mining efforts to the next level by moving beyond designing chips to developing a full bitcoin mining system. This expansion signifies a significant shift in the company’s strategy towards supporting mining decentralization and making the process more accessible
The recent data breach at UnitedHealth Group, one of the largest U.S. health insurers, has sent shockwaves through the healthcare industry. The intrusion at its Change Healthcare unit, which processes about 50% of U.S. medical claims, has raised serious concerns about the security of patients’ healthcare information. The hackers managed to steal health and personal
The U.S. Federal Trade Commission took legal action on Monday to prevent the acquisition of Capri Holdings by Coach and Kate Spade’s parent company, Tapestry. This move by regulators has put a temporary halt to a deal that would join two significant names in American luxury retail and consolidate six fashion brands under one company.
The recent price reductions made by Tesla and Li Auto have had a significant impact on the market share of both companies. Tesla cut the starting price of its Model 3 in China by 14,000 yuan, while Li Auto reduced prices for several models up to 30,000 yuan. These price cuts were aimed at increasing