The tech and chip-related stocks in Asia experienced a downward trend following the release of Nvidia’s second-quarter results. Companies with direct connections to the U.S. tech giant, such as SK Hynix and Samsung Electronics, were hit the hardest. SK Hynix, a manufacturer of high bandwidth memory chips used in AI applications for Nvidia, saw its
The Bank of Israel has made it clear that they do not intend to lower short-term interest rates at their remaining two policy meetings in 2024. This decision comes as a result of rising price pressures and ongoing geopolitical risks. Despite holding the benchmark interest rate at 4.5% for five consecutive decisions, concerns about inflation
Elon Musk’s artificial intelligence startup, xAI, has recently come under fire for its environmental practices in Memphis, Tennessee, where it operates a data center. The company has been accused of using natural gas burning turbines without a permit, leading to concerns about pollution and its impact on the surrounding community. The Southern Environmental Law Center
In a recent development, U.S. government researchers visited the Sangdong Mine in South Korea to evaluate progress on increasing the supply of tungsten, a critical metal used in various industries. The mine, owned by a subsidiary of Canada-based Almonty Industries, is set to restart operations this year. Tungsten, known for its hardness, is utilized in
In the midst of an inflation-fueled sales slump in the toy industry, Lego has emerged as a shining beacon of success. The Danish toymaker reported a 13% increase in revenue during the first half of 2024, reaching a staggering 31 billion Danish krone, equivalent to about $4.65 billion. CEO Niels Christiansen attributed this growth to
The recent announcement by Brazilian miner Vale to appoint Gustavo Pimenta as the new Chief Executive Officer was a strategic move to avoid market speculation about potential candidates. This decision, made earlier than expected, aimed to bring clarity to the succession process and provide stability to the company. The appointment of Pimenta, who has been
The mood across Asian markets is likely to be one of caution on Wednesday for two main reasons. Investors are concerned about the health of the U.S. economy, which could have far-reaching implications for global markets. Additionally, Nvidia’s earnings report later in the day is expected to impact market sentiment. While U.S. and world stocks
As investors eagerly await the opening bell each morning, the Nightly Stock Report provides a unique perspective on the market trends that could shape the trading day ahead. Offering a comprehensive overview of key data points, this daily newsletter aims to equip subscribers with the information needed to make informed decisions in a rapidly changing
Broadway is experiencing a slight downturn as it transitions from the peak of summer to the beginning of fall. The total grosses for the week ending August 25 were $25,343,599, showing a 10% decrease from the previous week. This dip can be attributed to various factors, including the summer edition of Kids’ Night on Broadway,
The collaboration between Volkswagen, a renowned German auto giant, and Xpeng, a Chinese startup, has been making waves in the electric car industry. With a $700 million investment announced in July 2023, the two companies aim to jointly develop two electric cars specifically for the Chinese market by 2026. These vehicles will be built on