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American motorcycle giant Harley-Davidson has been grappling with declining global sales, as highlighted in its fourth-quarter report for the previous year. The company attributes the downturn primarily to unfavorable market conditions and rising interest rates, which have collectively made consumer financing more challenging. In the latest quarter, Harley-Davidson reported sales of just 14,000 motorcycles, resulting in a staggering 35% drop in revenue, down to $688 million. Throughout 2024,...
Alphabet Inc., the parent company of Google, faced a challenging day on Wall Street as its stock tumbled over 7%. Despite posting fourth-quarter revenues of $96.5 billion, marking a 12% increase compared to the same period last year, this growth rate is the slowest since 2023. The primary disappointment came from Alphabet’s Cloud division, which reported a 30.1% revenue increase to $12 billion—a noticeable deceleration from the previous...
The European Union (EU) is gearing up to impose a gradual embargo on Russian aluminum, adding a significant element to its next sanctions package targeting Moscow. This policy shift is causing ripples in the aluminum market, leading to increased volatility in metal prices at the London Metal Exchange (LME). The market’s recent rally, which saw aluminum prices spike to $2,637 per ton on Wednesday, January 29, has been...
Spotify, the Swedish music streaming giant, achieved a remarkable financial milestone by reporting profitability for the entire year of 2024. This milestone was unveiled during the presentation of its latest quarterly figures, which showcased significant growth in both subscriber numbers and sales amidst a competitive market landscape. By the end of 2024, Spotify had amassed 263 million premium subscribers, representing an impressive 11% increase compared to the final...
The global smartphone market experienced a remarkable rebound in 2024, surging by 7% after two consecutive years of decline, according to market research firm Canalys. In 2024, over 1.2 billion smartphones were shipped, indicating a substantial recovery in consumer demand following the COVID-19 pandemic. Canalys analyst Runar Bjørhovde highlighted 2024 as a pivotal recovery year for the smartphone industry. The growth was primarily driven by consumers replacing devices...
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