Chinese authorities recently announced new measures to support state-owned enterprises (SOEs) in buying unsold apartments, as part of their efforts to address issues in the real estate sector. This move is aimed at helping developers secure more funding to complete construction on pre-sold properties. The People’s Bank of China has pledged to provide 300 billion
admin
Richemont, the Swiss luxury group that owns Cartier, saw its shares rise by as much as 6.3% following the announcement of record full-year sales. Despite a 1% decline in fiscal fourth-quarter sales, the group reported a 3% increase in overall sales to reach 20.6 billion euros. This surge in sales came at a time when
China recently reported data that indicated slower growth on the consumer side while industrial activity remained robust. Retail sales only rose by 2.3% in April from a year ago, a figure significantly lower than the 3.8% increase that was originally forecasted. This slower growth in retail sales reflects potential challenges in the consumer market, which
In the current economic landscape of the United States, there is an interesting phenomenon occurring alongside the overall higher inflation rates – deflation. While inflation measures the rapid increase in costs of goods and services, deflation signifies a decrease in prices for consumers. This deflationary trend is especially prevalent in the sector of physical goods,
The Dow Jones Industrial Average, a 30-stock benchmark, achieved a monumental milestone by breaking above 40,000 for the first time in history. This remarkable feat comes after a tumultuous year filled with unprecedented challenges and uncertainty in the financial markets and global economy. The Dow’s journey to 40,000 has been a long and arduous one,
Walmart’s latest quarterly earnings report has exceeded both earnings and revenue expectations, showcasing a strong performance in the e-commerce sector. The company has made significant gains in its online sales, as customers are increasingly turning to digital platforms for their shopping needs. This shift in consumer behavior has played a key role in Walmart’s success,
Siemens, a prominent German technology giant, recently reported a decrease in profit within its industrial business during the fiscal second quarter. The industrial profit amounted to 2.51 billion euros in the three-month period ending in March, marking a 2% decline compared to the same quarter the previous year. This figure fell below the company’s forecast
Shenzhen has experienced an unparalleled surge in millionaire growth over the past decade, outpacing other first-tier cities in China such as Beijing and Shanghai. According to a recent report by New World Wealth and Henley & Partners, Shenzhen saw a staggering 140% increase in its millionaire population, with an additional 10% growth in 2023 alone.
Cisco recently reported its earnings and revenue for the fiscal third quarter, surpassing Wall Street’s expectations despite a decline in sales from the previous year. The company’s stock saw a significant increase of up to 8% in extended trading following the announcement. Key highlights from the report include: The actual results reported by Cisco exceeded
Netflix announced on Wednesday that its cheaper, ad-supported tier has gained a significant following, with 40 million global monthly active users. This marks a substantial increase from the 23 million users reported earlier this year. The streaming giant’s decision to introduce this new tier was driven by a need to boost revenue amidst a slowdown