Inspire Medical Systems and ResMed have experienced significant drops in their stock prices, with decreases of 14% and 11% respectively. This decline came after the announcement that Eli Lilly’s weight loss drug, tirzepatide, showed promising results in reducing the severity of obstructive sleep apnea. Eli Lilly has even applied for approval from the FDA for
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The European Union regulators have recently accused Apple of violating new tech regulations that prohibit the restriction of customers from using alternative platforms within the App Store. In their preliminary findings, the European Commission stated that Apple’s App Store rules hinder app developers from freely directing consumers to alternative channels for offers and content. This
Beijing is pushing the European Union to eliminate its preliminary tariffs on Chinese electric vehicles before the July 4 deadline. These tariffs, ranging up to 38.1%, are scheduled to come into effect on July 4 as the EU investigates alleged excessive and unfair subsidies to Chinese electric vehicle manufacturers. China has been urging the EU
As the final trading week of the first half of the year begins in Asian markets, investors are taking stock of the current situation. While the equity markets in Asia seem to be in reasonably positive territory, the currency and bond markets present a more mixed picture. However, the Chinese market is faced with more
One major issue with the reported discussions between Meta Platforms and Apple is the lack of transparency surrounding the potential integration of generative AI technology. Both companies have not provided any official statements regarding these discussions, leaving consumers and stakeholders in the dark about the future implications of such a collaboration. This lack of transparency
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
At the midway point of the year, optimism is soaring on Wall Street. According to the recent global fund manager survey from Bank of America Securities, investors are exuding the most bullish sentiment since November 2021. Not only are they not anticipating a recession, they are also showing a strong preference for equities, especially the
Chinese companies have been steadily increasing their presence in the global market, but there is still significant untapped potential according to HSBC analysts. Despite the rapid growth of the Chinese economy, a large portion of revenue for Chinese companies still comes from domestic sources. In contrast, Japanese companies have a much higher percentage of revenue
Chinese Premier Li Qiang’s recent visit to Australia marks a significant moment in the relationship between the two countries. Li stated that relations are “back on track” after a period of turbulence, signaling a new chapter in their diplomatic ties. This visit is especially noteworthy as it is the first time a Chinese premier has
In a time where corporate expenses seem to be spiraling out of control, one startup is aiming to revolutionize the way companies manage and monitor employee spending. CleverCards, a Dublin-based firm, recently secured an impressive 8 million euros in funding from investors, despite the financial technology industry facing a period of reduced investment. A 2016
Disney/Pixar’s highly anticipated sequel, Inside Out 2, made a remarkable debut at the international box office with a stellar performance in its first full day of play. The film opened at No. 1 in each of its eight major markets, including Korea, Germany, and the Philippines. With a total overseas gross of $4.9M on its
The financial technology industry has undergone a significant transformation in recent years, with many industry executives and investors believing that the sector has finally reached a “bottom.” During the Money20/20 event in Amsterdam, executives shared their views with CNBC on how valuations have adjusted from unsustainable highs in the industry’s peak years of 2020 and