Sportswear giant Nike reported a sharp drop in second-quarter profit on Friday, overshadowing better-than-expected revenue and earnings and sending its shares down more than 10% in premarket trading, as investors focused on mounting pressure from China and higher costs.The company posted revenue of $12.43 billion for the quarter ended November…
The venture capital arms of Nvidia and Google have backed Swedish startup Lovable in a $330 million Series B round that values the vibe coding platform at $6.6 billion.The investment triples Lovable’s valuation in just five months and comes as the Stockholm company hit $200 million in annual recurring revenue.The…
The Nikkei 225 Index jumped by over 1.1% today, Dec. 19, even after the Bank of Japan (BoJ) hiked interest rates to the highest point since 1995. The index, which tracks the biggest Japanese companies, rose to ¥49,568, much higher than this week’s low of ¥48,900.BoJ hikes rates to 0.75%…
TikTok’s Chinese owner, ByteDance, has signed binding agreements with three major investors to form a new joint venture that will operate TikTok’s US app, a move aimed at averting a long-threatened ban by the US government. The agreement marks a major step toward resolving years of regulatory and political uncertainty…
President Donald Trump’s move to relax federal marijuana regulations has been welcomed by the US cannabis industry, but it has not changed the sector’s most persistent challenge.Access to mainstream banking remains limited, even as regulatory pressure eases, reports Reuters. The executive order signals a shift in tone from Washington and…
European policymakers, global markets, and Washington delivered a flurry of closely watched developments on Friday that underscored shifting geopolitical and financial dynamics. From a major European Union funding commitment to Ukraine, to a breakthrough deal aimed at keeping TikTok operating in the United States, alongside central bank signals in Asia,…
Billionaire Gautam Adani’s conglomerate plans to invest more than $11 billion in its airports business by the end of the decade, as it looks to expand its footprint across India’s aviation sector, bid for new privatized airports, and diversify into aircraft maintenance and related services. The investment push comes as…
Japan’s Mitsubishi UFJ Financial Group (MUFG) will acquire a 20% stake in Shriram Finance Ltd for $4.4 billion, marking the largest cross-border investment ever in India’s financial sector, the Indian non-bank lender said on Friday.The transaction comes amid a sharp acceleration in foreign investment into India’s banking and financial services…
The S&P 500 Index and its top ETFs, like VOO and SPY remained in a tight range in the past few months as jitters in the AI industry accelerated. It was trading at $6,775, a few points below the year-to-date high of $6,930. This article explores some of the top…
Italy’s competition authority has formally closed investigations into four major electric vehicle makers after securing commitments to improve how consumer information is presented. The probes targeted BYD, Tesla, Stellantis, and Volkswagen over concerns that buyers may not have been given sufficiently clear details about electric vehicle performance and battery-related conditions.…