Browsing: Business
In a decisive move to tackle rampant inflation, Turkey’s central bank announced a significant hike to its benchmark interest rate from 30% to 35% this Thursday. This adjustment aligns with the forecasts made by economists who participated in a Reuters survey. The bank attributed
In a surprising reveal, tech giant Meta has exceeded market predictions with a substantial 23% rise in its third quarter revenue, marking the steepest growth since 2021. As per the company’s forward-looking statements, they project their fourth quarter revenues to be between
Despite the worldwide momentum toward clean energy, two of America’s oil giants have recently placed significant bets on fossil fuels. Both Exxon Mobil and Chevron have announced massive acquisitions in the past month, revealing a strong belief in the long-term viability of oil and
On Wednesday, U.S. stock markets experienced significant shifts, as investors navigated through diverse earnings reports and evolving Treasury yields. Notable indices showed marked volatility, with the Dow Jones Industrial Average declining by approximately 0.4%, the S&P 500 recording a fall of nearly
Merck, a global pharmaceutical giant, has inked a partnership with Japanese firm Daiichi Sankyo, valuing at $5.5 billion, to co-develop three advanced cancer therapies. Depending on the success of these pioneering cell-targeted treatments, the agreement could garner up to $22 billion
Pharmaceutical giant Pfizer has announced its intention to charge $1,400 for a five-day course of its antiviral drug Paxlovid. This marks a significant increase from the $529 the US government previously paid for the same quantity of the drug during the pandemic. The
Solar stocks took a significant hit on Friday as Solaredge, a prominent solar product manufacturer, indicated a sharp decline in European demand. This warning further dampened the sentiment surrounding the renewable energy sector, which has already been grappling with challenges throughout
After releasing its Q3 financial results, Tesla’s stock took a significant hit, plummeting by nearly 10%. While the Q3 results did not meet market expectations, the stock remained stable initially, possibly buoyed by the much-anticipated Cybertruck delivery event announcement. However, the subsequent conference call
Luxury giant LVMH witnessed a dramatic plunge in its shares, falling by as much as 8% on Wednesday. This substantial dip came in the wake of the company’s announcement that its third-quarter revenue growth had decelerated significantly compared to the first half
Amidst a challenging global economic environment, Samsung, the South Korean tech juggernaut, anticipates a sharp 78% decline in its operating profit for the third quarter, reflecting the prolonged dampening demand for consumer electronics. On Wednesday, the company released its earnings forecast,