Inflation continues to be a cause for concern as the latest data from the Commerce Department shows little signs of improvement. The personal consumption expenditures price index excluding food and energy increased 2.8% from a year ago in March, remaining unchanged from the previous month. This data was above the 2.7% estimate from the Dow
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Venice recently made headlines by implementing a historic pilot program, becoming the first city in the world to charge tourists for visiting. The initiative aims to address the challenges posed by mass tourism and create a more sustainable environment for locals. Day-trippers to Venice are now required to pay a 5 euro fee to enter
Goldman Sachs’ David Kostin has expressed optimism regarding earnings for this year, despite concerns about margin pressures due to higher inflation. Kostin noted that one-fifth of companies have reported their earnings so far this season, with about two-thirds of them surpassing bottom-line expectations. He also mentioned that roughly one-third of companies have beaten estimates on
Xiaomi, the Chinese smartphone company, has recently seen success with its new electric vehicle, the SU7 sedan. CEO Lei Jun announced that they have received over 70,000 orders for the vehicle by April 20, which is close to their original full-year delivery target. This strong sales performance has prompted the company to increase their delivery
The chief executive of Norway’s sovereign wealth fund recently expressed his concerns about the tech sector, noting that there is “clearly a lot of froth” in the market. This statement raises questions about the sustainability of the current valuations and the potential for a bubble. With several U.S. tech giants scheduled to release their earnings
The recent apology letter issued by the CEO of Emirates airline to customers due to the historic rains in the United Arab Emirates causing chaos at Dubai’s airport highlights a major crisis. The CEO, Tim Clark, expressed his sincere apologies in response to the disruptions caused to the travel plans of thousands of customers. While
In response to the approval of $60.84 billion in support for Ukraine by U.S. lawmakers, Russia has taken a critical stance. They believe that this move signifies Washington’s deeper involvement in a hybrid war with Russia. Russian President Vladimir Putin’s decision to invade Ukraine in 2022 has escalated tensions between Russia and the West to
The recent Bitcoin halving has halved the rewards earned by miners from 6.25 bitcoins to 3.125 bitcoins. This reduction has sparked concerns among mining companies about potential revenue cuts and the need for consolidation in the industry. The halving has historically resulted in significant price gains for Bitcoin in the months following the event, which
The news of Israel’s military strike on Iran sent shockwaves through the global oil market, resulting in a more than 3% increase in oil prices. The limited military strike conducted by Israel has raised concerns about the potential for a broader war in the Middle East. The strike, which took place in the early hours
China strongly opposes the U.S. investigation into its maritime, logistics, and shipbuilding industries, calling it a “mistake on top of a mistake.” The Chinese ministry of commerce argued that the U.S. provides discriminatory subsidies to its domestic industries amounting to hundreds of billions of dollars, while accusing China of adopting unfair ‘non-market practices’. The Chinese