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,
Finance
The electric car industry is becoming increasingly competitive, with new players entering the market and challenging established brands like Tesla. One such newcomer is Onvo, the lower-priced brand of Chinese electric car company Nio. Onvo recently unveiled its first car, the L60 SUV, which is set to be priced at $4,000 cheaper than Tesla’s Model
Swedish fintech company Klarna has reported that almost 9 out of 10 of its employees are utilizing generative artificial intelligence tools on a daily basis. This adoption rate of over 87% is significantly higher than the average in the broader corporate world, where only 61% of computer users are incorporating generative AI programs into their
AMC Entertainment recently raised around $250 million through a new equity capital offering. This move came amidst the revival of the meme stock craze, which was triggered by the reappearance of “Roaring Kitty.” The movie theater operator decided to sell 72.5 million shares in an at-the-market equity offering that began on March 28. Ultimately, AMC
GameStop shares surged more than 80% in a single day, fueled by the return of “Roaring Kitty,” the man behind the epic short squeeze of 2021. Keith Gill, also known as DeepF——Value on Reddit, made a dramatic entrance back into the online scene after a three-year absence. His reappearance sparked a frenzy among day traders,
In a recent interview on CNBC’s “ETF Edge,” Horizon Kinetics’ portfolio manager, James Davolos, expressed his confidence in the firm’s Inflation Beneficiaries ETF (INFL), even in the face of potential Federal Reserve rate cuts. Davolos believes that the fund is well-positioned for the mature phase of inflation, with expectations of inflation levels ranging from three
European companies in China are facing increasing difficulties in maintaining profitability due to the country’s slowing economic growth and rising overcapacity pressures. The EU Chamber of Commerce in China released a survey indicating that only 30% of respondents reported higher profit margins in China compared to their global average, marking an eight-year low. The current
Spanish bank BBVA’s recent announcement of a hostile takeover bid for domestic rival Banco Sabadell has shocked the markets. This move, considered rare in the European banking sector, has raised eyebrows and triggered discussions within the financial community. Earlier in the week, BBVA’s initial 12 billion euro takeover offer to Sabadell’s board was rejected, with
British neobank, Monzo, announced on Wednesday that it has successfully raised an additional $190 million in funding. This brings their total fundraising for the year up to an impressive $610 million. The company disclosed that the funding came from new investors including Hedosophia, a known backer of top European fintechs such as N26 and Qonto.
Berkshire Hathaway, under the leadership of Warren Buffet, reported a significant surge in operating earnings in the first quarter of the year. The company’s operating profit reached $11.22 billion, marking a substantial increase of 39% from the previous year. This growth was mainly attributed to the rise in insurance underwriting earnings, particularly driven by the