Profit

Semiconductor Manufacturing International Corporation (SMIC) recently issued a profit warning after its first-quarter earnings fell short of expectations. The company cited intense competition in the chip industry as a primary reason for the decline in profits. According to SMIC, the pricing for commodity products is heavily influenced by market trends, making it challenging for the
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Most Asian stocks showed growth on Friday, following the positive momentum of Wall Street. However, Chinese stocks did not follow this trend as reports surfaced about new trade tariffs targeting the electric vehicles sector. This news caused China's Shanghai Shenzhen CSI 300 and Shanghai Composite indexes to fall by about 0.5% each. The anticipation of
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Singapore's Oversea-Chinese Banking Corp (OCBC) has recently reported a 5% increase in first-quarter profit, exceeding market expectations. In a bold move, the bank has also made a S$1.4 billion ($1.04 billion) offer to acquire its insurer arm Great Eastern, showcasing its commitment to strategic investments and portfolio enhancement. The offer, which includes a 37% premium
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European companies operating in China are facing an increasingly difficult economic landscape. A recent survey conducted by the EU Chamber of Commerce reveals that as China's growth slows and overcapacity issues rise, it has become harder for European businesses to maintain profitability in the country. Delays in payments and challenges in enforcing contracts have become
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Uber Technologies saw a significant drop of over 8% in response to mixed first-quarter results. While the company's overall revenue surpassed expectations, reaching $10.13 billion, the loss of 32 cents per share was disappointing compared to the forecasted earnings of 23 cents per share. Reddit Shares of Reddit rose by approximately 3% following a report
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British neobank Monzo recently announced that it has secured an additional $190 million in funding, bringing its total fundraising for the year to an impressive $610 million. This latest round of funding included investments from notable new backers, such as Hedosophia and CapitalG, as well as participation from existing investors like Singaporean sovereign wealth fund
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Stanley Druckenmiller, a renowned billionaire investor, made headlines recently when he disclosed that he had reduced his stake in chipmaker Nvidia due to concerns about the artificial intelligence market becoming overheated. This move has sparked debate about the future of AI investments and the long-term viability of the sector. Druckenmiller's Investment Philosophy Druckenmiller's decision to
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Brad Gerstner, the Chair and CEO of Altimeter Capital, has recently made some significant strategic moves in response to this year's strong run in technology stocks. Despite being bullish on the stocks that are reaccelerating due to artificial intelligence, Gerstner has decided to take some chips off the table. He mentioned during an appearance on
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Berkshire Hathaway saw its Class A shares trade up 1.2% early Monday after the conglomerate posted an impressive 39% year-over-year growth in operating profit. Additionally, the Warren Buffett-led business also reported a significant increase in cash holdings, approaching a record level of $200 billion. Shares of Paramount surged 2.4% following reports that the owner of
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