Samsung Electronics, the global leader in memory chip, smartphone, and TV manufacturing, has reported an astonishing more than 15-fold increase in its second-quarter operating profit. The company estimated that its operating profit surged to a remarkable 10.4 trillion won ($7.54 billion) in the quarter ended June 30th, a significant leap from 670 billion won reported
The recent government data released on Japanese household spending in May revealed an unexpected decrease of 1.8% from the previous year. This decline was significantly lower than the market forecast, indicating a concerning trend in consumer behavior. The primary factor attributed to this downturn was the rise in food prices, which exerted pressure on overall
Ryan Reynolds, Hugh Jackman, and director Shawn Levy embarked on an exciting journey to promote the highly anticipated Deadpool & Wolverine film in Shanghai, marking a significant milestone for the franchise. The trio’s first stop on the overseas promotional tour was met with a warm and enthusiastic reception in Shanghai. A packed house eagerly awaited
The recent announcement of the acquisition of Neiman Marcus by HBC for $2.65 billion has sent shockwaves through the luxury retail industry. This deal signifies a major shift in the landscape of high-end department stores, with implications for vendors, customers, and competitors alike. HBC’s plan to create Saks Global, a combined entity of Saks Fifth
Private equity firms have been making significant strides in the world of women’s soccer ownership, with the National Women’s Soccer League (NWS) leading the way. Unlike other major U.S. sports leagues, the NWSL has allowed private equity investors to take majority control of team economics. This shift marks a new era in women’s sports, where
In the world of hedge funds, the first half of 2024 has been a mixed bag. While some funds like Caxton Associates and Brevan Howard have struggled to maintain gains, others have seen significant success. Caxton Associates, led by Andrew Law, finished last month flat after a yearly performance that was up 4%. On the
Following weaker-than-expected U.S. economic data, the dollar experienced a significant drop, causing both the pound and the euro to gain traction against the greenback. Sterling saw a gain of 0.46% and reached a three-week high, while the euro also rose to $1.0801, marking a three-week top for the currency. This shift in currency values can
The European Union has officially announced its decision to increase tariffs on electric vehicles imported from China. This decision comes after the European Commission conducted an investigation and found that Chinese producers of battery electric vehicles (EVs) benefit from what they deem as “unfair” subsidization. The new levies, which range from 17.4% to 37.6%, will
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
General Motors recently agreed to pay a hefty penalty of $145.8 million as a result of a U.S. government investigation that uncovered excess emissions from around 5.9 million GM vehicles. The penalty comes after a multi-year investigation that revealed vehicles from the 2012-2018 model years were emitting more carbon dioxide than initially reported by GM.