In a strategic move to expand its international reach and compete with China-based rivals such as PDD Holdings and Shein, Alibaba’s international e-commerce platform, AliExpress, has announced its biggest global brand ambassador partnership to date with soccer star David Beckham. This partnership comes at a crucial time when competition in the global e-commerce market is
Success
The Euro has managed to maintain its position above the crucial 1.0800 level against the US Dollar, creating a sense of optimism in the market. The recent uptrend has seen the pair break above the 1.0825 resistance level and settle comfortably above the 200 and 100 simple moving averages on the 4-hour chart. This indicates
Argentine President Javier Milei has recently announced plans to implement a “significant” tax reduction in efforts to reduce state intervention in the economy and combat the ongoing economic crisis. However, the road to achieving this goal is not without its challenges. Despite Milei’s ambitions, he faces resistance in Congress, where he only holds a minority
In a recent meeting of the G7 finance chiefs in STRESA, Italy, a draft statement revealed discussions on utilizing the future income from frozen Russian assets to assist Ukraine. This move comes after the G7 and its allies froze approximately $300 billion of Russian assets following Moscow’s invasion of Ukraine in February 2022. The aim
Nvidia, a leading provider of artificial intelligence chips, experienced a significant surge in its shares, with prices increasing by over 10% in a single day. This surge came following the company’s announcement that its data center revenue had grown by an astounding 427% in the previous quarter. These impressive results surpassed Wall Street estimates, with
The cautious stance of the Federal Reserve has had a significant impact on the WTI crude oil prices. Despite the recent softening of inflation, Fed officials are hesitant to declare success in controlling inflation. This has led to concerns that US interest rates may remain elevated for a prolonged period, causing the prices of Brent
The U.S. Securities and Exchange Commission is under scrutiny for the upcoming decision regarding ether exchange-traded funds. Ric Edelman, from the Digital Assets Council of Financial Professionals, believes that the lack of an over-arching regulatory framework for all cryptocurrencies will result in another delay for the approval of these ETFs. Edelman emphasizes the importance of
Japan’s Nippon Steel is pushing forward with its planned purchase of U.S. Steel, with its vice chairman, Takahiro Mori, scheduled to travel to the United States next week to meet with stakeholders. The goal of the visit is to engage in dialogues and gain a better understanding of the various parties involved in the deal.
Former Walmart U.S. CEO Bill Simon has sounded the alarms, warning that the retailer’s reliance on higher-income consumers might not be sustainable in the long run. While these affluent shoppers have contributed to Walmart’s recent success, Simon argues that their loyalty will be fleeting as economic conditions change. Simon critiques the foundation on which Walmart
Under Armour is facing a significant setback as its Class A shares plummeted by 11% and its Class C stock declined by 9% after the company issued full-year earnings guidance that fell below expectations. The sportswear maker now anticipates earnings in the range of 18 to 21 cents, which is a far cry from the
The recent surge in bitcoin prices has led to a significant increase in the number of retail investors seeking access to their crypto wallets. Cryptocurrencies are stored on a decentralized digital ledger called blockchain, and these investors may choose to store their holdings in software wallets or hardware wallets to mitigate the risks associated with
AMC Entertainment recently announced the successful completion of a new equity capital raise, generating approximately $250 million in funds. This move took place amidst a resurgence of the meme stock craze, ignited by the return of “Roaring Kitty.” The company sold 72.5 million shares in an at-the-market equity offering that commenced on March 28. Despite