China has invested a staggering $230.8 billion over the span of more than a decade to nurture its electric car industry, according to analysis unveiled by the Center for Strategic and International Studies. This monumental financial backing represents 18.8% of total electric car sales between 2009 and 2023. However, despite the massive injection of funds,
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Accenture, the technology company, saw an increase of 8.6% in its stock despite missing earnings and revenue expectations. The company, however, reported over $900 million in new generative AI bookings, showing promise for future growth. On the other hand, Trump Media & Technology Group faced a decline of nearly 12% as its registration of additional
Disney/Pixar’s blockbuster sequel, Inside Out 2, continues to dominate the international box office as it sets new opening day benchmarks in several key overseas markets. The film’s success overseas has propelled its global box office total to an impressive $438.7 million, with the half a billion mark looming on the horizon. Wednesday saw the addition
The competition in the field of artificial intelligence has been heating up recently with the announcement of Anthropic’s latest model, Claude 3.5 Sonnet. As one of the many chatbots that have gained popularity in the past year, Claude is now being touted as the most powerful AI model released by Anthropic so far. With heavyweights
The recent report of lower than expected inflation rates in Israel has raised questions about the future monetary policy of the central bank. While the inflation rate of 2.8% is within the annual target of 1%-3%, it has not been sufficient to prompt the Bank of Israel to resume its rate cutting cycle. Even though
The latest report from Bernstein sheds light on the Indian stock market landscape, indicating a surge in investor enthusiasm towards Indian stocks. However, this surge seems to be driven more by greed than rational decision-making. The report assesses approximately 90 stocks across 14 subsectors, focusing on long-term growth expectations embedded in their valuations. In January
In a move to deepen ties with South Korea, Germany’s economy minister embarked on a trip to Asia, emphasizing the need to de-risk trade exposure to China. Both nations share a common goal of expanding their network of commercial allies amidst growing trade concerns. This mission aims to boost cooperation in business, economic security, and
Taking on the role of chief executive of a major oil giant like Petrobras comes with its own set of challenges. Magda Chambriard, the current CEO, faces the daunting task of balancing the economic priorities of Brazil with the profitability of the company. This delicate equilibrium requires strategic decision-making and effective leadership. Chambriard, appointed after
Last weekend, Disney’s highly anticipated film, Inside Out 2, made a staggering $295M in its worldwide debut, surpassing all expectations. Disney’s Head of Global Theatrical Distribution, Tony Chambers, expressed his gratitude to exhibitors for their contribution to this historic success. The film’s midweek numbers continued to impress, reaching a global total of $380M by Tuesday.
Elon Musk found himself under scrutiny when he lashed out at advertisers considering pulling their ads from his X social media platform. Speaking at the Cannes Lions advertising festival in France, Musk clarified his previous comments by stating that his intention was to defend free speech rather than target the advertising industry as a whole.
One of the main factors that have been missing from the box office in recent years has been the presence of family-friendly films. While there have been a few successful kid-friendly hits, such as Universal’s “Super Mario Bros.,” most family features have either opted for streaming platforms or had their releases spaced too far apart
Fitch Ratings agency has adjusted its forecast for a rate cut in China, pushing back its expectations to next year instead of this year. The decision comes as a result of high interest rates set by the U.S. Federal Reserve, which has influenced China’s monetary policy. Concerns over the exchange rate against the U.S. dollar
European stock markets experienced a slight decline on Wednesday, despite U.K. inflation falling back to the Bank of England’s target, while being overshadowed by a U.S. holiday. The DAX index in Germany, the CAC 40 in France, and the FTSE 100 in the U.K. all saw a decrease in value. These market movements were influenced
Japan’s recent data on exports in May reveals a concerning trend – while the weak yen has contributed to a significant increase in the value of exports, the volume of sales has been decreasing for the fourth straight month. This paints a picture of global demand that is still relatively soft, posing challenges for the