Spotify Technology saw a significant surge in its stock price, following the announcement of second-quarter earnings that exceeded estimates. Investors reacted positively to the news, driving the stock up by 13%. Additionally, both the gross margin and operating income surpassed expectations. This strong performance indicates that Spotify is on the right track and has the
India recently unveiled its budget for the fiscal year 2024-25, striking a delicate balance between increasing spending on job creation and rural development while simultaneously narrowing the fiscal deficit. This budget comes on the heels of a recent election setback for Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP), highlighting the pressing need for addressing
The Indian government, led by Finance Minister Nirmala Sitharaman, recently announced a decrease in its planned gross market borrowing for the financial year ending in March 2025. The decision to lower the borrowing by 120 billion rupees comes as a surprise to many, as it was previously announced at 14.13 trillion rupees during the interim
Berkshire Hathaway, the conglomerate led by legendary investor Warren Buffett, made headlines by trimming its massive stake in Bank of America for the first time in over four years. The conglomerate sold 33.9 million shares of the bank for nearly $1.5 billion in a series of sales. This move, as indicated by a regulatory filing,
McDonald’s decision to extend its $5 value meal offer has received a positive response from the majority of its U.S. markets. The promotion, which was initially set to last for just a month, has been extended through August in nearly 93% of McDonald’s restaurants. This move was made in response to the positive impact the
The cybersecurity stock CrowdStrike experienced a 4% drop after Guggenheim downgraded the company to neutral from buy. Guggenheim stated that the company is unlikely to emerge unscathed from the global outage, causing concern among investors. In contrast, Nvidia’s shares gained 2% following reports that the company is preparing a version of its new Blackwell chips
Regency’s iconic Westwood Village and Bruin theaters are set to close this week as their leases are expiring. The Westwood Fox Village, with its distinctive 170-foot Spanish Revival Art Deco tower, is slated for a renovation following a successful filmmaker initiative spearheaded by Jason Reitman earlier this year. However, details about the renovation timeline and
China’s recent move to lower key short-term policy rates and benchmark lending rates has taken the financial markets by surprise. This decision comes amidst concerns about weakening economic growth, escalating trade tensions, and the need to address various challenges such as deflation, a property crisis, surging debt, and weak consumer and business sentiment. The unexpected
China made a surprising move by cutting short and long-term rates by 10 basis points, aiming to support growth in its economy. This decision came shortly after the release of a policy document outlining the country’s economic ambitions. The rate cuts were unexpected, especially considering that the People’s Bank of China (PBOC) had been guiding
It has been widely reported that the U.S. Air Force’s ambitious Next Generation Air Dominance (NGAD) program, aimed at developing a revolutionary sixth-generation fighter jet to replace the F-22 Raptor, is facing challenges. The initial vision was to create a cutting-edge “family of systems” powered by advanced technology, including stealth capabilities, laser weapons, and artificial