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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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
Reports are indicating that 20th Century Studios’ latest installment, Kingdom of the Planet of the Apes, has kicked off its theatrical run with a bang. Previews for the film have raked in an impressive $6.5M, a figure that includes Thursday night earnings starting from 3 PM, as well as an additional $1.6M from special fan
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
Activist group Politan Capital has made it clear that they are not backing down in the battle for board seats at Masimo. In response to the company’s settlement offer to add one of Politan’s nominees, William Jellison, to the board, Politan’s Quentin Koffey has demanded that not only Jellison be added, but also another nominee,
Chinese electric vehicle manufacturer Zeekr has made headlines with its successful initial public offering (IPO), pricing its shares at $21 – the top end of its range. With the company set to sell 21 million American depository shares, it is expected to raise $441 million when it begins trading on the New York Stock Exchange
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The potential merger of Sony and Apollo with Paramount Global has sparked discussions about the strategy the conglomerates might adopt if the deal goes through. One key aspect of their plan is to maintain a steady theatrical release output between both studios, without reducing it. This approach is aimed at ensuring a consistent flow of
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
Oddity Tech, a newly public Israeli cosmetics platform, has defied expectations by exceeding first-quarter results. Using artificial intelligence to develop innovative beauty products, Oddity reported earnings per share of 61 cents compared to the expected 49 cents. Additionally, revenue reached $211.63 million, surpassing the projected $205 million. This remarkable performance showcases the company’s potential in
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
Palantir, the defense tech firm that specializes in big-data and artificial intelligence software, experienced a sharp decline in its shares following a report of weaker-than-expected guidance. The company’s earnings per share of 8 cents adjusted fell short of the 8 cents expected, while revenues of $634 million were slightly below the $625 million anticipated by
The journey to bring a live-action Barbie movie to the big screen was undoubtedly a long and winding road. With various studios and producers attached to the project over the years, including big names like Anne Hathaway and Amy Schumer, the path to realizing Barbie’s potential as a movie franchise was fraught with challenges. However,
Former Starbucks CEO Howard Schultz recently shared his thoughts on the coffee chain’s disappointing quarterly report, asserting that the company has the potential to bounce back by revitalizing its U.S. stores. Despite no longer holding an official position at Starbucks, Schultz emphasized the necessity for enhancing the mobile order and pay experience, as well as