Dollar General experienced a sharp decline in its stock value, nearly 30%, after announcing a reduction in sales and profit guidance for the year. CEO Todd Vasos attributed the weaker sales to financially constrained core customers. This news not only affected Dollar General but also led to a 9% drop in shares for competitor Dollar
Pro
The Law and Justice (PiS) party, Poland’s largest opposition party, has been dealt a significant blow after the electoral commission determined that they misused public funds for campaigning purposes. As a result, the party is facing a loss of millions in state funding. This financial hit comes at a crucial time for PiS, especially since
France’s President Emmanuel Macron’s upcoming visit to Belgrade aims to strengthen ties with Serbia and bring the country closer to the West. This visit comes at a crucial time for Serbia as it navigates its European Union membership bid while maintaining close relationships with Russia and China. Macron and his Serbian counterpart, Aleksandar Vucic, are
American Eagle has once again fallen short of Wall Street’s sales targets for the second consecutive quarter. Despite this disappointing news, the company reported a significant increase in profit of nearly 60%, largely attributed to lower product costs. The market responded negatively to this news, with the company’s shares dropping more than 8% in early
The tech and chip-related stocks in Asia took a hit on Thursday following the announcement of Nvidia’s second-quarter results. Companies with direct links to the U.S. tech giant, such as South Korean chipmakers SK Hynix and Samsung Electronics, experienced significant losses. SK Hynix, known for manufacturing high bandwidth memory chips used in AI applications for
The Bank of Israel is facing a challenging economic environment, characterized by rising inflation and persistent geopolitical risks. Deputy governor Andrew Abir recently stated that the central bank is unlikely to lower short-term interest rates in the remaining policy meetings of 2024. This decision comes at a time when concerns about inflation, fueled by the
Elon Musk’s artificial intelligence startup, xAI, has been at the center of controversy due to its recent activities in Memphis, Tennessee. The company has come under fire for using natural gas burning turbines at its new data center without obtaining the necessary permits, leading to concerns about pollution and environmental health in the area. The
Recently, U.S. government researchers traveled to a South Korean mine to evaluate the progress being made towards increasing the supply of tungsten from sources outside of China. The Sangdong Mine, owned by a subsidiary of Almonty Industries based in Canada, is expected to resume operations this year. Tungsten, an essential metal used in the production
Despite an inflation-fueled sales slump that hit the toy industry in the first half of 2024, Lego managed to outperform its competitors, with revenue jumping 13% in the first six months of the year. Niels Christiansen, CEO of the Danish toymaker, attributed this success to the strength of Lego Icons, Lego Creator, and the partnership
Brazilian miner Vale recently made a strategic decision to announce Gustavo Pimenta as their new chief executive officer. This move was aimed at preempting any further market speculation regarding potential candidates for the role. Chairman Daniel Stieler emphasized the importance of finalizing the leadership succession process ahead of schedule to bring stability and clarity to
Nvidia, a technology company known for its graphics processing units, has seen significant growth in the last year, with a 179% increase in its stock price. Despite this impressive performance, the stock is currently 8.8% below its June 20 high. Analysts are overwhelmingly bullish on Nvidia, with 92% rating it as a buy or overweight.
As investors in Asian markets prepare for the day ahead, the prevailing mood is one of caution. This caution is driven by two main factors – concerns about the health of the U.S. economy and anticipation of Nvidia’s earnings report later in the day. While U.S. and world stocks saw slight gains on Tuesday, the
As the summer season on Broadway comes to a close, the total grosses for the week ending August 25th were down by approximately 10% compared to the previous week. This decline can be attributed, at least in part, to the summer edition of Kids‘ Night on Broadway, where 19 out of 24 shows offered free
The collaboration between Volkswagen and Xpeng in the realm of electric cars for the Chinese market has been gaining momentum. With Volkswagen’s $700 million investment in Xpeng to jointly develop two electric cars for delivery in China by 2026, it is evident that both companies are committed to pushing the boundaries of innovation. Xpeng’s co-president