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The value of the U.S. dollar has sharply declined over the past few days, hitting its lowest point in nearly four months against the euro. The dollar has also weakened against other major currencies. By Wednesday, the exchange rate had climbed from 1.038 dollars per euro to over 1.07 dollars per euro, marking a 3% decrease in the dollar’s value in just a few days. Economic instability in…
Samsung Electronics has partnered with Amazon Web Services (AWS) to showcase the application of AI in radio access networks (RAN) at the Mobile World Congress (MWC) in Barcelona, Spain. This collaboration features the Samsung CognitiV Network Operations Suite (NOS) Copilot, an advanced AI assistant integrated within Samsung’s automation platform. Utilizing Amazon Bedrock, a managed service for building and scaling generative AI applications, the Samsung CognitiV NOS Copilot streamlines…
China announced import tariffs on $21 billion worth of U.S. agricultural and food products, including soybeans, wheat, meat, and cotton. The companies affected by the suspension are CHS Inc., Louis Dreyfus Company Grains Merchandising LLC, and EGT. According to China’s customs department, the suspensions were due to the detection of ergot and seed coating agents in U.S. soybeans and pests in U.S. logs. This action follows U.S. President…
Taiwan Semiconductor Manufacturing Company (TSMC) has unveiled plans to invest $100 billion in the United States over the coming years to expand its semiconductor manufacturing capabilities. The investment will fund the construction of five new facilities, including three chip fabrication plants, two advanced packaging facilities, and a large research and development center. This announcement was made by TSMC CEO C.C. Wei alongside former U.S. President Donald Trump. TSMC,…
European car manufacturers have been granted an additional two years to meet their CO2 emission reduction targets. European Commission President Ursula von der Leyen confirmed the proposal, extending the deadline from one to three years. Companies are still required to reduce their CO2 emissions, and previously announced fines will remain in place if models continue to exceed emission limits from 2027. Von der Leyen stated, “Companies must meet…
Broadcom is currently experiencing a significant surge following the recent announcement of a 28% increase in fiscal Q4 profit. The company’s revenue growth has been accelerating for four consecutive quarters, with a 51% rise to $14 billion. A key driver of this impressive growth is the company’s AI revenue, which has more than tripled from fiscal 2023, reaching $12.2 billion. CEO Hock Tan is highlighting that Broadcom is…
Adidas is placing increased focus on the U.S. market as it seeks to strengthen its position against its key competitor, Nike. With growing uncertainty around consumer demand in China, many global brands are turning their attention to American shoppers for growth opportunities in 2025. Under the leadership of CEO Bjorn Gulden, has made significant strides since severing ties with rapper Ye and discontinuing the Yeezy sneaker line in…
Dell Technologies has forecasted a robust annual profit, surpassing expectations due to strategic cost reductions and increased demand for its AI-optimized servers. These servers, equipped with advanced Nvidia chips, meet the high computational demands of training large language models such as those used in chatbots like ChatGPT. This has spurred interest from various companies, enhancing Dell’s competitive position in the AI server market alongside rivals like Super Micro…
Tim Hoettges, the CEO of Deutsche Telekom, has called on Germany’s incoming government and Europe to take a leading role in the development of artificial intelligence (AI) and data centers to compete with the U.S. and Asia. Recently, Chinese startup DeepSeek caused a significant sell-off in global equities markets by introducing an affordable AI reasoning model that surpassed many Western competitors. DeepSeek is now rushing to release a…
Stellantis updates its financial forecasts, anticipating a return to profitable growth and positive cash generation in 2025. The company expects positive revenue growth, a single-digit positive operating income margin, and positive industrial cash flow, reflecting both the initial phase of commercial recovery and high sector uncertainties. In 2025, Stellantis will launch ten new models. Stellantis confirms the arrival of a new CEO by the first half of 2025.…
Global trade experienced significant growth last year, a stark contrast to the over 1 percent decline seen the previous year. Unfortunately, this trend did not extend to the Eurozone, which saw both imports and exports contract. According to the World Trade Monitor, there was notable trade growth in emerging economies in Southeast Asia and Latin America. China significantly boosted its exports of electric vehicles, batteries, and solar panels,…
Nvidia’s stock took a hit, falling 2.8% on Tuesday after reports surfaced about the Trump administration’s plans to tighten US export rules for the chip sector, aimed at limiting China’s progress in AI technology. The proposed measures include sanctions on specific Chinese companies and further restrictions on international firms maintaining semiconductor equipment in China. This news follows the recent introduction of cost-efficient AI models by Chinese firm DeepSeek,…
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…
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