Apple CEO Tim Cook announced record revenue growth in India during the first quarter of the year. In its fiscal second quarter, Apple reported total revenue of $94.84 billion, although it does not disclose sales figures for India. Cook stated that the company set a “quarterly record” for its India business and saw “very strong,
World
The World Health Organization (WHO) has announced that Covid-19 is no longer a global public health emergency. The pandemic has been on a downward trend with increasing population immunity from vaccination and infection, as well as decreasing mortality rates and easing pressure on health systems, according to WHO Director-General Tedros Adhanom Ghebreyesus. Tedros has declared
The COVID-19 pandemic has significantly impacted the way people shop, with a noticeable shift towards online shopping. Many people have been forced to stay home due to lockdown measures, leading to an increased demand for e-commerce platforms such as Amazon, eBay, and Walmart. In addition, the fear of contracting the virus in public spaces has
On Friday, the stock market experienced a rebound as regional bank shares climbed and Apple posted better-than-expected quarterly earnings. Despite this rally, the Dow and the S&P 500 logged their worst week since March, with the Dow losing 1.24% and the S&P 500 dropping 0.8%. The Nasdaq eked out a small weekly gain of 0.07%.
The Federal Reserve will likely increase interest rates by a quarter percentage point at the conclusion of its two-day meeting, marking the 10th increase since March 2022, taking the Fed’s benchmark borrowing rate to a target range of 5%-5.25%. However, the real mystery lies in how the central bank proceeds from here. Investors want to
Following remarks made by Federal Reserve Chair Jerome Powell at a press conference, the major US stock market averages turned lower. Powell stated that the rate-setting committee had a view that inflation is not going to come down quickly, which would mean that it would not be appropriate to cut interest rates in the near
Investors should prepare for Apple’s lower forward guidance as Bank of America has reiterated a neutral rating on the company’s stock. The bank has updated its price target to $173 per share, representing a 2% increase from Friday’s closing price. Previously, Bank of America had set a price target of $168. Expectations for Apple’s Quarterly
Lordstown Motors announced that it may face bankruptcy if its investment deal with Foxconn does not go through. On Monday, the electric vehicle startup revealed that its shares had plummeted by 25% in early trading. The company stated in a regulatory filing that Foxconn had sent a letter on April 21, stating that Lordstown was
JPMorgan Chase’s acquisition of First Republic marks the end of the panic phase of the banking crisis, with the fallout expected to continue. The largest US bank by deposits reached a deal to take over the 14th-largest financial institution, averting a destabilising collapse in the sector. However, this does not solve all the banking problems
A major blaze erupted at an oil depot in the Crimean city of Sevastopol after being hit by two Ukrainian drones, according to Moscow-appointed governor Mikhail Razvozhayev. The fire was contained, but the four oil tanks within the depot were destroyed. Razvozhayev stated that the blaze had been assigned the highest ranking for difficulty in