The president of the World Economic Forum, Borge Brende, recently painted a bleak picture of the global economy, warning that without appropriate economic measures, the world could be looking at a decade of low growth. Speaking at WEF’s “Special Meeting on Global Collaboration, Growth and Energy for Development” in Riyadh, Saudi Arabia, Brende highlighted the
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In the upcoming week, several popular stocks are set to release their earnings reports. This week is expected to be filled with numerous earnings releases, with over 160 companies in the S & P 500 and six in the Dow Jones Industrial Average scheduled to post their results. As we approach the halfway mark of
Inflation continues to be a major concern for the economy, with recent data showing that price pressures remain elevated. The personal consumption expenditures price index excluding food and energy increased by 2.8% from a year ago in March. This was in line with the previous month and above market estimates. Despite the data showing increased
Venice, known for its picturesque canals and historic charm, has taken a bold step in addressing the issue of overtourism. The city recently implemented a pilot program that charges day-trippers a fee of 5 euros (US$5.40) in an effort to manage the influx of tourists and protect the quality of life for its residents. While
Xiaomi, a Chinese smartphone company, has recently entered the electric vehicle market with its new electric SU7 sedan. The response from consumers has been overwhelming, with the company receiving more than 70,000 orders for the vehicle as of April 20. This figure is close to Xiaomi’s original full-year target for deliveries, indicating a strong demand
Goldman Sachs’ David Kostin recently shared his optimism about earnings growth for the year. Despite concerns about margin pressures due to higher inflation, Kostin highlighted that around one-fifth of companies have reported earnings thus far this season. Of these companies, approximately two-thirds have exceeded expectations on the bottom line, while one-third have beaten estimates on
The chief executive of Norway’s sovereign wealth fund recently expressed concerns about the tech sector, indicating that there may be an excessive amount of speculation in the market. With U.S. tech giants such as Tesla, Meta, Microsoft, and Google parent Alphabet set to release their earnings reports, the focus is on whether the recent downturn
Following the historic rains in the United Arab Emirates that caused record flooding, the CEO of Emirates airline, Tim Clark, issued an apology letter to customers who were affected by the chaos at Dubai’s airport. In the letter published on the airline’s website, Clark expressed his sincere apologies for the disruptions and inconvenience caused to
Russia’s reaction to the recent approval of $60.84 billion in support for Ukraine by U.S. lawmakers has sparked heightened tensions between the two nations. Moscow perceives this move as a deepening involvement of the United States in what they describe as a hybrid war. Russian President Vladimir Putin’s decision to invade Ukraine in 2022 has
The recent completion of the fourth “halving” event on the Bitcoin network has reduced the rewards earned by miners from 6.25 bitcoins to 3.125 bitcoins. This event has caused the price of bitcoin to experience volatility, with a 4% decrease this week, trading at around $64,100. While the halving itself should not have an immediate