China is currently in talks with the European Union to prevent the implementation of tariffs on imported Chinese electric cars. The European Commission had threatened to impose additional duties on these vehicles starting on July 4th if discussions did not yield positive results. Both parties are hoping to find a mutually acceptable solution to avoid
Finance
In midday trading, shares of Paramount Global surged by more than 9% after news broke that Skydance Media had reached a preliminary merger deal with controlling shareholder National Amusements. This development prompted the media and entertainment stock to spike, with Paramount Global’s special committee currently reviewing and voting on the agreement. Meanwhile, the electric vehicle
Passion tourism is a concept that has been gaining momentum as Americans are increasingly traveling abroad to fulfill their personal interests and hobbies. This trend was recently exemplified by the surge in travel to Europe to attend Taylor Swift concerts. The Rao family from Bethesda, Maryland, is one such example, as they planned their summer
In a surprising turn of events, meme stock trader Keith Gill, commonly known as “Roaring Kitty,” has made a significant investment in pet food e-commerce retailer Chewy. The Securities and Exchange Commission filing revealed that Gill purchased over 9 million shares of Chewy, amounting to a 6.6% stake in the company. This move has positioned
The Chinese automaker, Geely, has recently garnered overweight rating from Morgan Stanley, signaling a positive outlook amidst macro and industry uncertainties. In the increasingly competitive new energy vehicle market in China, automakers are compelled to lower prices and enhance features to stay afloat. Despite the challenges, Geely is seen as a beneficiary of market consolidation,
The second half of the year could bring about a bullish move for both value and growth stocks according to Todd Rosenbluth, the head of research at VettaFi. He believes that value stocks, which have historically lagged behind growth stocks, may see a positive upswing thanks to the FTSE Russell’s annual rebalancing event. The recent
In a recent exclusive interview, CEO of Honor, George Zhao, emphasized the importance of protecting user data while harnessing the transformative power of artificial intelligence. Zhao highlighted the fact that without adequate data security and user privacy protection, AI becomes meaningless. Honor’s approach involves keeping AI operations limited to the smartphone itself, a strategy known
Walgreens Boots Alliance saw a significant drop of more than 24.5% in its stock price after reporting third-quarter earnings that fell below Wall Street’s expectations. The company also adjusted its profit outlook for the full year and announced plans to close underperforming stores to cut costs. This decline in Walgreens’ stock price had a ripple
Recently, Rivian Automotive experienced a significant surge in its stock price, rising over 40% after securing up to $5 billion in funding from Volkswagen Group. With an initial investment of $1 billion and another $4 billion expected by 2026, this partnership has undoubtedly created a buzz in the electric vehicle industry. The boost in Rivian’s
The announcement of SolarEdge Technologies offering $300 million worth of convertible notes due 2029 resulted in a significant drop in its shares by more than 20%. Additionally, the revelation that a customer is unable to pay a debt of $11.4 million due to bankruptcy further adds to the negative sentiment surrounding the company. Such financial