Reported 29 days ago
Apple has significantly increased its iPhone exports from India to nearly $6 billion in the past six months, marking a 33% rise as the company seeks to reduce its dependence on China. The manufacturing expansion in India is fueled by local subsidies and a skilled workforce, reflecting Apple's strategy to diversify its supply chain amid rising tensions with Beijing. While Apple still holds a minor share of India's smartphone market, its manufacturing efforts are set to escalate, with aims to boost annual revenues in the rapidly growing Indian market.
Source: YAHOO
Reported 29 days ago
Global stock markets experienced a largely positive trend with the Nasdaq reaching a record high ahead of significant corporate earnings reports and the upcoming U.S. presidential election. Key earnings from major firms like Alphabet showed positive results, while concerns over job openings and shifting monetary policies in Japan also influenced market dynamics. Investors remain cautious as they await the U.S. jobs report and reactions to political developments.
Source: YAHOO
Reported 29 days ago
Bitcoin surpassed $71,000 in Asian trading hours, experiencing a 5% increase in 24 hours and leading to the liquidation of over $143 million in short positions. The rise was fueled by significant trading volume, whale activity on Binance, and a net inflow of 47,000 BTC into Bitcoin ETFs, with traders anticipating bullish market conditions tied to the upcoming U.S. elections. The overall cryptocurrency market also saw gains, particularly notable in Dogecoin and other major tokens.
Source: YAHOO
Reported 29 days ago
Erykah Badu was honored with the fashion icon award at the CFDA Fashion Awards for her impactful contributions to style over the years. Accepting the award in a striking ensemble, Badu reflected on her lifelong aspiration to achieve this recognition. The ceremony, held at the American Museum of Natural History, celebrated various designers and acknowledged cultural influences on fashion with an emphasis on the importance of voting.
Source: YAHOO
Reported 29 days ago
Aware Super, one of Australia's largest pension funds and a shareholder in WiseTech Global Ltd., is calling for transparency regarding the company's future plans following CEO Richard White's resignation due to serious allegations about his conduct. As shares bounce back after White's reassignment, Aware Super emphasizes the importance of clarity in the CEO succession process and is seeking insights into the company's review of the allegations against White to ensure accountability.
Source: YAHOO
Reported 29 days ago
China's Ministry of State Security has revealed that it has identified and retrieved deep-sea espionage devices, including underwater 'lighthouses' designed to assist foreign submarines navigating their waters. Amid ongoing territorial tensions in the South China Sea, the ministry emphasized its commitment to safeguarding national security and sovereignty, particularly in light of escalating military activities in the region.
Source: YAHOO
Reported 29 days ago
The Brazilian Collective Defense Institute has launched lawsuits seeking $525 million from TikTok, Kwai, and Meta Platforms, claiming they failed to implement measures to protect minors from excessive use of their platforms. The suits call for improved data protection and awareness about mental health risks associated with social media addiction. The plaintiffs argue that changes are essential for ensuring a safer online environment for children and teenagers.
Source: YAHOO
Reported 29 days ago
Japan is caught in a political limbo following an election that yielded no clear winner, raising concerns about its ability to address global issues effectively as the world anticipates Donald Trump's possible return to power. Prime Minister Shigeru Ishiba, leading a weak coalition, may struggle to maintain stability and advance Japan's interests, especially in light of Trump's previous demands regarding defense spending and trade. The lack of a decisive government could hinder Japan's response to both international challenges and its own economic policies.
Source: YAHOO
Reported 29 days ago
Asian markets showed volatility amid anticipation of U.S. corporate earnings and economic data. The Nasdaq reached a new high, buoyed by strong performances from major tech firms like Alphabet, while the S&P 500 slightly gained. However, Advanced Micro Devices faced a decline in stock value due to disappointing forecasts. Job openings in the U.S. dropped, contradicting earlier reports of a resilient labor market, leading traders to reassess expectations for potential Fed rate cuts. Meanwhile, various companies reported mixed earnings results, impacting market confidence.
Source: YAHOO
Reported 29 days ago
Oil prices have stabilized following a notable drop of over 6%, as geopolitical tensions in the Middle East and potential economic stimulus in China weigh on the market. West Texas Intermediate crude settled near $67 a barrel, supported by Israeli discussions for a diplomatic solution to its conflict with Lebanon. Traders are now shifting focus towards OPEC's upcoming decisions and US economic indicators, which could impact oil supply and Federal Reserve interest rates.
Source: YAHOO
Reported 29 days ago
During Ford Motor Company's Q3 2024 earnings call, executives discussed the company's ongoing recovery and strategic initiatives, including cost-cutting measures, electric vehicle (EV) developments, and strengthening their Ford Pro services division. They reported a 5% year-over-year revenue growth and projected an adjusted EBIT of approximately $10 billion for the full year, despite challenges in warranty costs and pricing pressures. Notably, the company has made significant advancements in battery technology and production efficiency, aiming to enhance competitiveness in the evolving automotive landscape.
Source: YAHOO
Reported 29 days ago
The dollar reached three-month highs against the yen as Japan's political uncertainties affect the currency, with traders anticipating crucial U.S. economic data and the upcoming election. The Bank of Japan is expected to maintain current interest rates amid a cooling labor market, while the dollar continues to strengthen, supported by robust U.S. economic signals and predictions of a Republican election outcome.
Source: YAHOO
Reported 29 days ago
Oil prices saw a slight increase after reaching lowest levels since October 1 due to increased diplomatic efforts to resolve the conflict in Lebanon. Brent crude settled at $71.12 per barrel, and West Texas Intermediate at $67.21. Despite a short-lived recovery, demand concerns, particularly from China, continued to affect prices. The U.S. plans to cut interest rates might also influence future oil demand.
Source: YAHOO
Reported 29 days ago
Alphabet is set to release its third-quarter earnings on October 29, with expectations of a revenue increase to $86.41 billion and challenges from rising AI competitors like Meta and Microsoft. The tech giant is reportedly developing an AI agent, codenamed 'Project Jarvis,' to help automate tasks for users, as they strive to maintain their advertising dominance amidst legal scrutiny and market pressures. Analysts anticipate potential shifts in Google's business model due to ongoing antitrust investigations, further complicating its position in the evolving AI-driven landscape.
Source: YAHOO
Reported 29 days ago
Gold prices have reached near-record levels as traders eagerly await significant US economic data and the upcoming presidential election. Despite rising bond yields and a strong dollar, gold increased by 0.9%, driven by uncertainties surrounding the election and its potential implications for future monetary policy. This year, gold has risen over 33%, reflecting central bank purchases and safe-haven demand amid global tensions, while upcoming reports from gold mining companies are also on the horizon.
Source: YAHOO
Reported 29 days ago
GE Aerospace's recent stock decline may overlook crucial positives revealed by management. The company anticipates an extended peak in 'shop visits' for its older CFM56 airplane engines, which suggests increased aftermarket service revenue. While delays in deliveries of the new LEAP engine were disappointing, sustained demand for airline services could enhance the value derived from legacy engines, promising a cautious but optimistic outlook for future financial performance.
Source: YAHOO
Reported 29 days ago
Amidst falling bond prices, veteran analyst Carley Garner advises investors to consider treasuries as a safe haven in their portfolios, especially before anticipated interest rate cuts. She highlights the benefits of bonds for risk-averse investors, indicating that holding treasuries can offer a steady yield of 4% to 5% and protect against market volatility, especially during uncertain economic times.
Source: YAHOO
Reported 29 days ago
Japan's labor market strengthened in September, with the job-to-applicant ratio rising to 1.24 and the unemployment rate dropping to 2.4%. This tightening of the labor market suggests increased pressure on companies to raise wages, which aligns with the Bank of Japan's upcoming policy meeting. Economists anticipate that this trend will positively influence wage negotiations, with labor unions pushing for at least a 5% wage hike this year. The situation also reflects growing labor shortages, especially among small and medium-sized enterprises.
Source: YAHOO
Reported 29 days ago
Harley-Davidson has experienced a downturn in sales following a polarizing decision regarding its diversity policies, with a reported 10% drop in U.S. sales and a 13% decline in global retail sales for the third quarter of 2024. The company has revised its full-year expectations, predicting further declines in retail and wholesale shipments as well as total revenue. Despite increased revenue in apparel, overall operating income fell sharply. Controversy arose over its 'woke' initiatives, leading to both support and backlash from consumers.
Source: YAHOO
Reported 29 days ago
Analysts predict that Netflix could become the first non-Artificial Intelligence (AI) technology company to achieve a trillion-dollar valuation, capitalizing on its current leadership in the streaming market with 283 million subscribers. Despite fierce competition, Netflix's innovative strategies, including a new advertising model and immersive experiences, show promising growth potential. With projected revenues reaching $44 billion in 2025, the company may significantly increase its market cap if it excels in profit margins and subscriber retention.
Source: YAHOO
Reported 29 days ago
Despite its recent struggles, the Japanese yen is positioned as a potential safe haven for investors amid the uncertainty surrounding the upcoming US presidential election. Historical data suggests that the yen has performed well relative to other traditional safe assets during past election cycles, making it an attractive option for those seeking security in tumultuous market conditions. Analysts emphasize the yen's strengths, including Japan's significant current-account surplus and low inflation, while also noting potential tariff risks and ongoing economic developments that could influence its value.
Source: YAHOO
Reported 29 days ago
Bitcoin is nearing its all-time high of nearly $74,000 reached in March, climbing to $73,564 amid speculation about a potential Donald Trump election victory. This rise also benefits other cryptocurrencies like Ether and Dogecoin. Increased trading activity and bets on Bitcoin reaching $80,000 by the end of November showcase heightened confidence, while the cryptocurrency continues to gain traction despite regulatory scrutiny.
Source: YAHOO
Reported 29 days ago
In a landmark case in Australia, an activist shareholder group has accused natural gas producer Santos Ltd. of misleading investors regarding its climate targets. The Australasian Centre for Corporate Responsibility alleges that Santos breached local laws with its claims of reducing emissions by 30% by 2030 and presenting natural gas as a clean fuel, amidst ongoing debates about natural gas's environmental impact. The court proceedings are set to continue for several weeks.
Source: YAHOO
Reported 29 days ago
Source: WSJ
Reported 29 days ago
US airlines are now mandated to automatically issue cash refunds to passengers for canceled or significantly delayed flights, effective immediately. This new rule from the Department of Transportation ensures that refunds are processed without requiring passengers to request them explicitly, aiming to provide a hassle-free experience during the upcoming holiday travel season.
Source: YAHOO