In a recent report by Counterpoint Research, it was revealed that the sales of Apple’s iPhone in China significantly dropped by 24% in the first six weeks of 2024. This decline was attributed to stiff competition from local smartphone manufacturers such as Huawei, Oppo, Vivo, and Xiaomi. Apple’s shares also saw a decrease of more
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China is gearing up for its annual parliamentary meetings, known as the “Two Sessions,” which provide valuable insights into the country’s economic policy and plans for the upcoming year. Investors are closely monitoring these meetings to gauge the potential for economic stimulus in light of the challenges faced by the Chinese economy. Despite China’s GDP
In a joint effort to stabilize the oil market, Saudi Arabia and Russia, in collaboration with other major OPEC+ members, have decided to extend their voluntary crude supply cuts until the end of the second quarter. This move comes as a response to the ongoing challenges faced by the oil industry, including geopolitical tensions, fluctuating
The recent events in Gaza have sparked a significant humanitarian effort led by the U.S. military in the form of airdropped food supplies. President Joe Biden authorized this emergency assistance after more than 100 Palestinians were tragically killed during an encounter with Israeli troops. The U.S. military C-130 cargo planes were deployed to drop 66
European companies have faced a challenging earnings season with around half of them missing earnings expectations despite already low expectations. Analysts have pointed out that the region will continue to struggle amid high interest rates. The disappointing performance was evident with the smallest percentage of beats recorded since the first quarter of 2020 when the
Semiconductor manufacturers such as Taiwan Semiconductor Manufacturing Company (TSMC) are facing a growing risk of water shortages as chip processing technology advances, according to a report by S&P Global Ratings. The semiconductor industry is heavily reliant on water for cooling machinery and ensuring the cleanliness of wafer sheets during the manufacturing process. The more advanced
AirAsia, a well-known budget airline based in Malaysia, is gearing up for a major move by listing its brand management unit on the Nasdaq. This strategic decision comes after finalizing a SPAC merger, with the aim of tapping into the U.S. market and capitalizing on the appeal of franchise and licensing opportunities. Tony Fernandes, the
The stock market closed Tuesday’s session with a mixed bag of results, with the S&P 500 and Nasdaq Composite making modest gains, while the Dow Jones Industrial Average experienced a slight decline. The S&P 500 edged up by 0.17% to 5,078.18, and the Nasdaq increased by 0.37% to 16,035.30. On the other hand, the Dow
Commerce Secretary Gina Raimondo recently announced the Biden administration’s lofty goal of making the U.S. a major manufacturer of state-of-the-art semiconductor chips before 2030. This initiative aims to position the country as a global competitor, enhance national security, and create numerous job opportunities. During a speech at the Center for Strategic and International Studies, Raimondo
Artificial intelligence in smartphones has become the latest buzzword in the tech industry, with companies looking to leverage AI capabilities to boost sales and engage consumers. The release of OpenAI’s ChatGPT in 2022 sparked significant interest in generative AI models, leading to a surge in excitement across various industries. Smartphone manufacturers are eager to capitalize