The Amazon Basin, known for holding one-fifth of the world’s fresh water, is currently experiencing severe drought conditions as it enters the dry season. Many of the rivers in the region are at critically low levels, prompting concerns and contingency measures by governments in countries like Bolivia, Brazil, Colombia, Ecuador, Guyana, Peru, Suriname, and Venezuela.
World
Berkshire Hathaway, the multinational conglomerate led by Warren Buffett, experienced a significant increase in its cash reserves during the last quarter. The cash hoard reached a record high of $276.9 billion, surpassing the previous record of $189 billion set in the first quarter of 2024. This surge in cash holdings was primarily fueled by the
The European stocks experienced significant losses on Friday as weak U.S. economic data triggered concerns of a possible recession. The regional Stoxx 600 index plummeted by 2.48% at 3:17 p.m. London time, marking a considerable decline below the 500 point threshold for the first time since April. The unsettling data resulted in all major bourses
Meta, formerly known as Facebook, has been making significant investments in artificial intelligence (AI) to drive growth in its core business of digital advertising. The company’s CEO, Mark Zuckerberg, and finance chief, Susan Li, recently highlighted the positive impact of AI on Meta’s revenue growth during their second-quarter earnings call. The Role of AI in
Japan’s central bank made a significant move by raising its benchmark interest rate to “around 0.25%” and announcing plans to taper its bond buying program. This decision marks the highest interest rates set by the Bank of Japan since 2008. Despite the rate increase, the central bank expects real interest rates to remain negative and
The United Arab Emirates is positioned to maintain its reign as the top wealth destination globally for the third consecutive year, as per the Henley Private Wealth Migration Report. Meanwhile, the United Kingdom is anticipated to witness a decline of 17% in its millionaire population by 2028, based on projections from Swiss bank UBS. The
Asia-Pacific markets experienced a positive trend on Monday, with Japan’s Nikkei 225 leading gains in the region. This surge came after a key U.S. inflation report was released late last Friday, raising hopes for a potential interest rate cut in the near future. The U.S. June personal consumption expenditures price index showed a 0.1% increase
The United States is set to unveil a significant revamp of its military command structure in Japan, signaling a strategic move to deepen defense ties with its Asian ally. The new measures are expected to enhance coordination between the two countries to address the evolving regional threats posed by China and North Korea. This announcement
Bank of America has raised its price target on Apple to $256 from $230, indicating a strong vote of confidence in the tech giant. Analyst Wamsi Mohan believes that Apple is poised for success ahead of a new iPhone cycle, with a significant portion of its user base planning to upgrade to products with AI
In the second quarter, Apple lost its position in the top five smartphone vendors in China due to fierce competition from domestic brands like Huawei. Apple’s market share dropped to 14%, a decline from 15% in the previous quarter and 16% from the same period last year. This marks a significant shift as Apple, once