The global markets are currently on edge as Asian markets cautiously assess the impact of the recent success of right-wing parties in the European Union on the cohesion of the bloc. While EUROSTOXX 50 futures have shown a slight uptick of 0.2%, FTSE futures remain stagnant. The euro is holding steady at $1.0766, slightly above
Sales
GameStop shares took a steep nosedive, dropping over 14% on Monday, following a significant sell-off triggered by disappointing earnings and an underwhelming livestream by Keith Gill. The stock, which had already plummeted nearly 40% on Friday, hit a low of around $24 per share on Monday. The release of GameStop’s earnings report ahead of schedule
In the wake of Chanel’s top designer’s departure, the $1.62 trillion luxury goods industry is experiencing significant upheaval. This departure has sent ripples not only through Chanel but across all major global players at a time when the industry as a whole is at a crossroads. Traditionally, the playbook for top fashion labels like Chanel,
Nio, the Chinese electric car company, is gearing up for an expansion into the Middle East market as part of its strategic plan for growth and global presence. CEO William Li announced the move during an earnings call, revealing the company’s ambitious plans to introduce its products and services in the United Arab Emirates by
As Asia ushers in the new trading month for global markets, there is a keen focus on manufacturing PMI data from the continent’s major economies. Investors are anticipating a shift in interest rates from the U.S. and other countries, which could have a significant impact on market trends. Key indicators to monitor include factory activity
In response to the economic challenges faced by Russia, the government has recently made adjustments to the mandatory foreign currency sales regulations for exporters. This move comes as part of broader efforts to stabilize the national currency, the rouble, which has been experiencing pressure from capital outflows and limited foreign currency supply. Under the new
In recent months, China has been facing a crisis in its property sector, with new home prices rising slightly for the ninth consecutive month in May. The average new home price across 100 cities increased by 0.25% on a monthly basis, indicating a slow but steady recovery following a 0.27% gain in April. This growth
France is making its name known in the world of artificial intelligence, positioning itself as the next superpower in this technological field. The Viva Technology conference held in Paris was abuzz with discussions about France’s advancements as an AI leader. One notable highlight was the French AI firm H, previously known as Holistic, which secured
The latest data on Japanese Retail Trade shows a positive YoY growth of 2.4% in April, surpassing the forecast of 1.9%. This growth is a significant improvement from the previous period’s 24-month low of 1.1%. The increase in Retail Trade is a positive sign for the Japanese economy, indicating an uptick in consumer spending. On
Kohl’s faced a significant blow as its shares dropped by more than 20% in premarket trading following the release of its first quarter financial results. The market was taken by surprise as the company reported a loss per share instead of the expected profit. This unexpected turn of events put the company’s performance in sharp
The GBP/USD pair is currently trading at 1.2695, showing a weaker performance due to the strength of the US Dollar. The rise in US yields and reduced expectations of a Fed rate cut in September have contributed to the stronger dollar. This has caused a downward pressure on the pair, with traders adjusting their bets
Renowned short seller Jim Chanos has vehemently denied the accusations brought against him in a recent lawsuit. He referred to the claims as “false, baseless and defamatory” in a statement given to CNBC. The lawsuit, filed by Conlon Holdings, a Chicago-based firm headed by Sean Conlon, alleged that Chanos had used his company as a
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