World

European stocks faced significant losses on Friday as a global downturn swept through the markets. The regional Stoxx 600 index plummeted 2.48% by 3:17 p.m. London time, dipping below the 500 point mark for the first time since April. This downward trend was exacerbated by weak U.S. economic data, sparking fears of an impending recession.
In a recent earnings call, Meta CEO Mark Zuckerberg highlighted the significant impact that artificial intelligence (AI) has had on the company’s growth in the digital advertising market. Despite skeptics questioning Meta’s massive spending on AI, Zuckerberg emphasized the present benefits of this technology in improving recommendations, enhancing user experience, and increasing advertising effectiveness. Meta
The United Arab Emirates is attracting a significant number of millionaires, positioning itself as the top wealth magnet globally for the third consecutive year, as per the Henley Private Wealth Migration Report. In contrast, the U.K. is projected to witness a decline of 17% in its millionaire population by 2028, according to Swiss bank UBS.
Bank of America recently highlighted Apple as a top buying opportunity in the technology sector. The investment bank raised its price target on the tech giant to $256 from $230, citing a strong performance ahead of the next iPhone cycle. Analyst Wamsi Mohan emphasized that Apple is firing on all cylinders, especially with the anticipated
Apple has been facing tough competition from domestic brands in China, leading to a decline in market share for the tech giant. In the second quarter, Apple dropped out of the top five smartphone vendors list in China, with its market share shrinking to 14%. This marks a decrease from 15% in the first quarter
Japanese stocks took a hit as the Nikkei 225 extended its six-day losing streak by plunging 3%. This decline was led by heavy losses in Nikkei heavyweight SoftBank Group, which nosedived 9%. Additionally, Renesas Electronics saw a more than 14% drop in its stock price. The broader Topix index also fell by 2.24%. Adding to