Meta, formerly known as Facebook, has delivered better-than-expected financial results for the third quarter of the year, showcasing an impressive revenue growth rate of 23%. This growth rate represents the fastest pace since 2021 and has positively impacted the company’s stock, causing it to rise by more than 2% in extended trading. Let’s take a
World
As investors in Asia-Pacific markets evaluate the latest private surveys of business activity from Japan and Australia, as well as the October producer price index from South Korea, the overall sentiment appears to be cautious. These assessments contribute to a mixed market performance across the region. In Australia, the S&P/ASX 200 made a marginal gain,
Intel, the leading provider of PC chips, faced a significant setback on Monday as its stock dropped by 3% following reports that Nvidia and AMD were developing Arm-based PC chips. In contrast, Arm stock experienced a surge of almost 5%, while Nvidia saw a nearly 4% increase in late-day trading. This development raises concerns about
The legislative election in Switzerland has showcased the increasing influence of the right-wing populist party, while also witnessing a decline in support for the leading Green party. In a reflection of the broader European sentiment, voters grapple with the challenges of balancing right-wing populist politics and combating climate change, amidst rising inflation and other socioeconomic
Chinese companies have shown a strong desire to list on U.S. stock exchanges, but the IPO process has become increasingly complex, according to Kobe Ge, the head of China at the New York Stock Exchange. Although there were challenges due to COVID-19 restrictions and regulatory uncertainty, many of these issues have been resolved, and there
Canada has recently made the decision to recall 41 diplomats and their families from India after New Delhi issued an ultimatum that diplomatic immunities would be revoked unless Canada complied with demands for equal diplomatic staffing. In response to this threat, the Canadian Foreign Ministry confirmed that India has formally communicated its plan to remove
The latest data from the Labor Department reveals a decline in initial filings for unemployment benefits, suggesting a resilient US labor market. For the period ending October 14, weekly jobless claims reached a seasonally adjusted total of 198,000, which is 13,000 less than the previous week and below the Dow Jones estimate of 210,000. This
Foxconn, the renowned Apple iPhone supplier, has revealed its semiconductor strategy to prioritize the production of “specialty chips” rather than competing in cutting-edge chip technologies. Chiang Shang-Yi, the chief strategy officer for semiconductor at Hon Hai Technology Group, emphasized that they do not strive to chase the most advanced technology. Instead, they concentrate on specialty
Top economists and central bankers are in agreement that interest rates will remain higher for an extended period, which has created uncertainty in global markets. In response to soaring inflation rates, central banks worldwide have aggressively increased interest rates over the past year and a half. While the U.S. Federal Reserve paused its hiking cycle
In the midst of escalating tensions between Israel and Palestine, China has urged Israel to cease its collective punishment of Palestinian civilians in the Gaza Strip. As Secretary of State Antony Blinken traveled throughout the Middle East to mitigate the possibility of a wider war, China’s Foreign Minister Wang Yi conveyed the international community’s call