As China’s highly anticipated “Third Plenum” approaches, there are dire predictions for the financial sector. With a focus on constraining financial speculation and a shift towards supporting high-tech and manufacturing, investors are cautiously optimistic. Recent statements from officials, such as Han Wenxiu, reinforce the idea of returning finance to its original purpose of serving the
Finance
Stock markets were affected today after Wells Fargo reported a 9% decline in net interest income, causing a nearly 7% drop in their shares. This news came as a surprise to analysts who had expected a higher net interest income of $12.12 billion. While the bank’s second-quarter earnings and revenue did exceed Wall Street’s expectations,
China’s extensive development of robotaxis is gaining popularity among consumers but poses a significant threat to traditional taxi drivers who fear losing their jobs due to increased competition. While companies like GM’s Cruise and Alphabet’s Waymo have introduced driverless taxis in the US, local Chinese governments have permitted domestic players to offer robotaxi services to
Intuit, the parent company of TurboTax, faced a nearly 4% drop in its stock after announcing a significant workforce reduction of 1,800 jobs. This decision comes as the company increases its investments in artificial intelligence. Although Intuit plans to rehire the same number of people for engineering, product, and consumer-focused roles, the initial job cuts
Nvidia, the artificial intelligence darling, saw its shares rise by 1.8% in midday trading following KeyBanc’s price target hike to $180. This increase implies about a 40% upside from the previous day’s close. The firm mentioned that demand for Nvidia’s H100 chip remains robust, even with the upcoming launch of Blackwell in the latter half
Chemours, a chemical company, experienced a 3% increase in its stock price after being upgraded by UBS from buy to neutral. This upgrade was based on the potential for the stock to outperform, with favorable demand for refrigerants and positive price drivers heading into the next year. Shares of Nvidia rose over 1% following an
The media and entertainment company, Paramount Global, experienced a significant drop of 5.3% in its stock price following the announcement of its merger with Skydance Media. This merger involves a substantial investment of over $8 billion from Skydance and its financial backers, as well as the acquisition of National Amusements, Paramount’s controlling shareholder. The market
Mainland China investors have been witnessing impressive performances by Chinese stocks in 2025. One of the top performers in the CSI 300, which tracks the largest names on the Shanghai and Shenzhen stock exchanges, was Foxconn Industrial Internet. Listed in Shanghai, it saw a significant increase of 81% in the first six months of the
In 2023, the number of reported job scams saw a massive surge compared to the previous year, with consumer reports of such incidents increasing by 118%. According to the Identity Theft Resource Center, criminals are now taking advantage of artificial intelligence to carry out these fraudulent activities. These scammers often pose as recruiters, posting fake
The recent drop in Bitcoin prices caused a ripple effect in the stock market, with companies tied to the cryptocurrency experiencing significant losses. Coinbase and MicroStrategy both saw a 5% decline in premarket trading, reflecting the overall bearish sentiment in the market. This volatility highlights the risks associated with investing in cryptocurrency-related stocks, as the