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
China’s new yuan loans are anticipated to have more than doubled in June compared to May, with Chinese banks expected to have issued 2.25 trillion yuan in new loans last month, according to a survey of 22 economists. This surge in new loans reflects the central bank’s commitment to providing policy support for the economy
In a startling report from TRM Labs, it was revealed that hackers managed to secure over $1.38 billion in cryptocurrency during the first half of 2024. This figure demonstrates a significant jump from the $657 million stolen during the same time frame the previous year. Notably, a small group of large-scale attacks were responsible for
Australia has recently pledged to increase investment in Pacific Island countries in order to support their financial systems. This comes at a crucial time when some Western banks are severing their ties with the region citing risks associated with doing business there. The move is particularly significant as China is looking to expand its influence
Recently, Boeing, the U.S. aerospace giant, made the decision to plead guilty to criminal fraud related to the fatal 737 Max crashes. This choice has labeled Boeing as a felon, but it has allowed the company to avoid a trial while it attempts to move past the safety and manufacturing crises. The plea deal includes
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
The recent surge in chip stocks has propelled the Nasdaq and S&P 500 to all-time highs as investors eagerly anticipate crucial data related to inflation, upcoming statements from Federal Reserve Chair Jerome Powell, and the commencement of the quarterly earnings season. Notable companies like Nvidia, Super Micro Computer, and Intel witnessed significant gains in their
The recent $8 billion takeover of Paramount by Skydance has left many in Hollywood reflecting on the potential consequences of this move. With Skydance’s David Ellison set to take the reins, there is a mix of excitement and apprehension about the future of this iconic studio. Those in support of Ellison see him as a
In recent weeks, Germany’s government has been making headlines for its decision to sell off a significant amount of bitcoin. This move has not only raised eyebrows in the cryptocurrency community but has also had a direct impact on the market as a whole. Let’s delve deeper into what these sales mean for the world
The U.S. airline industry is currently facing a challenging situation where the record summer air travel demand is not translating into record profits for carriers. Despite some airlines forecasting record demand and revenue, higher labor and other costs have been eating into their bottom lines. This disconnect between demand and profitability is a significant concern