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The recent announcement by the European Union to impose higher tariffs of up to 38% on Chinese electric vehicles (EVs) has created a ripple effect in the market. Following this news, shares of Chinese EV makers experienced a surge in value, with Hong Kong's Hang Seng index seeing a notable increase of 1.23% at the
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The decision by the European Union to impose additional tariffs on Chinese electric vehicles has sparked backlash from China and various stakeholders involved in the dispute. Chinese state news agency Xinhua expressed hope that the EU would reconsider its tariffs and avoid hindering competition in the auto industry. The opposition from China and others emphasizes
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Oracle, a leading software maker, saw its shares spike by more than 12% to reach an all-time high following the announcement of cloud deals with Google and OpenAI. The database management company revealed plans to bring its database to Google's cloud in November, as well as partnering with Microsoft and OpenAI to provide supplemental computing
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Following reports of increased U.S. trade scrutiny against China, most Asian stocks experienced a decline on Wednesday. The anticipation of more cues on inflation and the Federal Reserve also contributed to the negative sentiment. Despite record-high closes on the S&P 500 and the NASDAQ Composite, regional stocks struggled to stay afloat. China's Shanghai Shenzhen CSI
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Affirm Holdings saw a nearly 7% increase in its stock following the announcement that its buy now, pay later loans will be integrated into Apple Pay, providing another payment option for U.S. Apple users. This move is expected to boost Affirm's reach and popularity among consumers, potentially driving further growth in the future. General Motors
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Southwest Airlines saw a 7% increase in stock value after activist hedge fund Elliott Management acquired a $1.9 billion stake in the company. The firm is pushing for the replacement of CEO Bob Jordan and Chairman Gary Kelly. This move by Elliott Management signals a potential shake-up in the leadership of Southwest Airlines, which could
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The U.S. stock market is once again feeling the effects of uncertainty as investors await crucial inflation data and a central bank policy meeting set to take place later this week. The previous week ended with mixed results, causing a slight decrease in indexes as Nonfarm Payrolls showed strength but other economic indicators pointed to
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Investors are eagerly watching the performance of off-price retailer Burlington Stores (BURL), as it continues to impress with its positive financial results. The first quarter of fiscal 2024 saw the company post upbeat numbers, leading to an increase in profit margin and earnings outlook for the full year. This positive news prompted Jefferies analyst Corey
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China's largest food delivery platform, Meituan, has identified a significant shift in consumer spending patterns towards experiences, particularly in the travel sector. The CEO of Meituan, Wang Xing, highlighted during a recent earnings call that consumers are increasingly willing to allocate a larger portion of their budget to travel experiences. This shifting trend indicates not
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As per Jefferies' latest report, the expected expansion of EBIT margins for IT companies in FY25 may not be as promising as initially anticipated. While there is hope for a substantial improvement in Tech Mahindra, other IT firms may only see a modest rise in margins. The report points out several challenges that could hinder
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A CEO from an alternative trading platform, Kelly Rodriques, is determined to shake up private equity investing and provide a solution for the stagnating initial public offering market. In collaboration with Accuidity, Forge Global launched the Forge Accuidity Private Market Index in the recent spring – a move that aims to offer a more accessible
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