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The shift in the digital asset market contrasts sharply with the post-election rally in November. Since Trump’s inauguration in January, Bitcoin has declined by nearly 20%. This drop is attributed to Trump’s aggressive trade policies and ongoing inflation concerns, which have shaken investor confidence. Adrian Przelozny, CEO of crypto exchange Independent Reserve, linked the fall in Bitcoin prices to broader economic uncertainty driven by Trump’s tariff announcements. Data...
The EU as a whole saw a 34% year-on-year increase in electric vehicle sales, with more than 124,000 units sold. Germany led the charge, registering 34,498 electric cars and doubling its sales compared to the previous year. Despite this growth in electric vehicle sales, the overall car market in the EU faces challenges, with total car sales dropping by 3% to just over 831,000 units in January. Major...
Prosus, a tech investment firm, has revealed plans to acquire Just Eat Takeaway, known for its Thuisbezorgd service, for €4.1 billion. The iconic orange delivery boxes will remain unchanged, and Just Eat’s headquarters will stay in Amsterdam, maintaining brand continuity. Originally from South Africa, Prosus aims to expand its presence in Europe through this acquisition. The company sees growth potential in various sectors, including food delivery, groceries, fintech,...
Apple Inc. has announced plans to invest over $500 billion (approximately €478 billion) in the United States over the next four years. The announcement followed a conversation between Apple CEO Tim Cook and U.S. President Donald Trump. Earlier this month, President Trump raised tariffs on products imported from China by 10 percent, posing challenges for Apple, which manufactures many of its devices in China. According to Bloomberg, this...
The driving force behind this substantial increase is the investor anticipation surrounding Supermicro’s upcoming 10-K filing. The company’s annual report, which has been delayed due to accounting controversies, is expected to be submitted by February 25. This report is eagerly awaited as it promises to bring much-needed clarity to the company’s financial standing and performance. The stock’s outlook has been clouded by uncertainty since July, when Hindenburg Research...
Berkshire Hathaway, led by CEO Warren Buffett, reported record operating earnings of $47.4 billion in 2024. Despite more than half of its 189 operating businesses experiencing a decline in earnings, the company’s overall performance exceeded expectations. The surge in earnings was largely driven by improved yields on Treasury Bills and an increased investment in these highly-liquid short-term securities. At the close of 2024, Berkshire’s cash reserves and cash-equivalent...
The European Commission is set to unveil new proposals aimed at reducing the regulatory burden on companies regarding sustainability reporting. The proposed changes are part of the EU’s broader strategy to cut red tape for businesses, enhance competitiveness, and respond to external pressures. Under the current Corporate Sustainability Reporting Directive (CSRD), companies with more than 250 employees and a turnover exceeding 40 million euros are required to disclose...
In a recent announcement, former President Donald Trump has called on Big Tech companies to bring their operations back to the United States, with Apple being the latest company to heed this call. According to Trump, Apple is set to significantly shift its investment strategy, moving its production from Mexico to the United States. During a meeting with governors, Trump revealed that Apple CEO Tim Cook promised to...
In recent developments, Reddit (RDDT) stock has seen a significant decline of about 19% following its earnings report last week. This comes after a six-month period where the shares had quadrupled. Despite surpassing earnings per share estimates, Reddit’s daily active users fell from the previous quarter due to changes in Google’s Search algorithm, which impacted site traffic. Reddit’s stock price was $167.25, reflecting a 4.67% drop. The stock...
For the first time since 2019, the European smartphone market has experienced growth, according to analysis by Canalys. In 2024, there was a 5% increase in smartphone deliveries compared to the previous year. This growth, though modest, marks a significant turnaround after years of declining sales. Approximately 136.1 million smartphones were sold in Europe in 2024, excluding Russia. This increase can be attributed partly to a rise in...
The latest iteration of his AI chatbot, positioning it as a formidable competitor in the artificial intelligence space. Musk asserts that Grok-3 wields over ten times the computing power of its predecessor, surpassing other AI models like ChatGPT, DeepSeek, and Google Gemini in terms of intelligence and capability. Musk, who established the Grok-developing entity xAI in 2023 as an alternative to ChatGPT creator OpenAI, claims that Grok-3 is...
Nikola Corporation, the renowned American truck manufacturer specializing in electric and hydrogen-powered vehicles, has initiated a Chapter 11 bankruptcy filing in Delaware, as per recent court filings. This strategic move aims to allow Nikola the opportunity to restructure its operations while continuing its business activities. The company’s financial woes have been escalating due to prolonged periods of cash outflows exceeding inflows, compounded by disappointing sales figures. Further exacerbating...
Philips, the renowned Dutch technology conglomerate, has reported a significant milestone: an uptick in orders for the first time in three years. While the company saw profits increase in 2024, challenges persist in the crucial Chinese market, where a notable decline in orders has been observed. In 2024, Philips experienced a 1% growth in orders, capitalizing on a robust final quarter with a 2% increase, largely fueled by...
The European Union has officially approved its sixteenth round of sanctions targeting Russia, with a particular focus on tackling the so-called “shadow fleet,” a group of vessels that have been instrumental in circumventing existing oil sanctions. This latest sanctions package includes a ban on the importation of aluminum from Russia, a significant move given the recent disruption caused by Russian oil tankers to EU maritime operations. Last month,...
In a strategic move that resonates across global economies, the Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, are deliberating on extending oil production restrictions. This decision aims to sustain elevated oil prices—a scenario already impacting fuel costs worldwide. Historically, OPEC+ has suggested production increases to stabilize market prices but has deferred these adjustments multiple times. A further delay in increasing output marks...
Japan is set to release 210,000 tons of stored rice into the market in an effort to curb skyrocketing prices, which have surged by over 50% in recent months. Historically, such a measure has only been implemented during natural disasters and poor harvest seasons. On Friday, Agriculture Minister Taku Eto publicly announced the initiative, as reported by the Japanese Kyodo News. Eto emphasized that while government intervention in...
European airports set a new record for passenger numbers last year, surpassing the 2.5 billion mark, according to a report by ACI Europe, the umbrella organization representing airports across the continent. This figure represents a 1.8% increase compared to 2019, the last full year before the COVID-19 pandemic severely impacted global air travel. The report highlights a significant growth of over 7% in the number of travelers compared...
Federal Reserve Chairman Jerome Powell has underscored that there is no immediate need to reduce interest rates, asserting that the Federal Reserve will act only if warranted by circumstances. During a Congressional hearing, Powell reiterated that the Central Bank would consider cutting rates again if the labor market were to unexpectedly weaken. “The U.S. economy is fundamentally strong,” Powell stated, noting that while inflation is edging closer to...
In a significant development for the aviation industry, Boeing has outpaced its European competitor Airbus in monthly aircraft deliveries for the first time in nearly two years. The American aerospace giant delivered an impressive 45 aircraft in January, surpassing Airbus’s 25 deliveries during the same period. This uptick in production could signal a potential recovery for Boeing after a prolonged period of challenges, including large-scale strikes at its...
In a decisive move from the second Trump administration, the United States has exited the Paris Agreement, a significant global climate accord initially embraced by 193 countries and the EU in 2015. This action, anticipated during Trump’s election campaign, was among the administration’s first initiatives and underscores a retraction from international climate commitments. This decision echoes Trump’s first-term actions but occurs within a more intricate international framework characterized...
A consortium of investors spearheaded by Elon Musk has proposed a $97.4 billion offer to acquire the non-profit entity that oversees OpenAI, intensifying a strategic battle with OpenAI CEO Sam Altman regarding the future of the AI powerhouse behind ChatGPT. Marc Toberoff, Musk’s legal representative, dispatched the unsolicited offer to the board of directors at OpenAI, as reported by the Wall Street Journal. This move threatens to disrupt...
Kering, the prestigious French luxury conglomerate and the parent company of renowned fashion powerhouse Gucci, has reported a significant downturn in its financial performance for the past fiscal year. This decline is predominantly attributed to the lackluster sales in the crucial Chinese market, which has historically been a substantial contributor to the luxury sector’s growth. The company’s net profit experienced a drastic reduction, plummeting by 62% and settling...
In a significant policy move, former President Donald Trump announced the imposition of a 25% import tariff on steel and aluminum, a decision that reverberates across international trade channels. This tariff mandates that American buyers pay more for these crucial foreign metals, affecting not only domestic industries but also foreign exporters. Among the countries impacted, the Netherlands ranks ninth in terms of steel exports to the United States,...
McDonald’s, the leading fast-food chain, experienced a notable decrease in sales in the United States during the last quarter, marking the largest drop since the onset of the COVID-19 pandemic in 2020. This decline is largely due to cautious consumer spending and an unfortunate E. coli outbreak affecting the chain. The E. coli bacteria was found at several McDonald’s locations, resulting in over a hundred illnesses and one...
Tesla, a global leader in the electric vehicle sector, is witnessing a significant downturn in its sales within the Chinese market, despite efforts to boost consumer interest through price cuts and installment purchase options. The American automaker reported sales of over 63,000 vehicles in China for the month of January, marking an 11.5% decline compared to the same period in 2023. This slump comes at a challenging time...
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