Business News
Tesla CEO Elon Musk has rescheduled the highly anticipated reveal of the Tesla Robotaxi to October 10, 2024, after originally planning the event for early August. This delay was announced during Tesla’s Q2 2024 earnings call, attributing the postponement to a significant design change requested by Musk himself. The new date will provide Tesla with…
The US housing market in 2024 is expected to see some relief, but many challenges from 2023 will persist. According to Business Insider, mortgage rates are predicted to decline slightly, averaging around 6.8% compared to 7.22% in 2023. This reduction may ease the pressure on buyers, allowing home prices to drop by about 1.7%. However,…
Tesla’s shares fell by nearly 8% in pre-market trading on Thursday, following a disappointing earnings report for the second quarter of 2024. The electric vehicle giant reported an adjusted profit of 71 cents per share on revenue of $25.17 billion, both of which fell short of analysts’ expectations. This has raised concerns among investors about…
In the second quarter of 2024, Alphabet reported impressive financial results, driven primarily by significant growth in its Google Cloud and search advertising segments. Alphabet’s total revenue for Q2 reached $74 billion, with Google Cloud surpassing the $10 billion mark for the first time, reflecting a 28.8% year-over-year increase. This growth underscores Alphabet’s successful diversification…
In a recent development, South Korean prosecutors have issued an arrest warrant for Kim Beom-su, the founder of tech giant Kakao. The warrant is based on allegations of stock manipulation related to Kakao’s acquisition of a controlling stake in SM Entertainment. This move follows a series of legal challenges and investigations into Kakao’s business practices….
In a significant turn of events, cybersecurity startup Wiz has decided to forgo a $23 billion acquisition offer from Google-parent Alphabet and instead pursue an initial public offering (IPO). This decision marks a pivotal moment for both companies, as Wiz aims to solidify its independent market position while Google faces a strategic setback in bolstering…
In a notable turn of events, cybersecurity firm Wiz has declined Alphabet Inc.’s $23 billion acquisition offer, opting instead to pursue an initial public offering (IPO). This decision underscores Wiz’s confidence in its market position and growth potential, setting the stage for a significant IPO in the tech sector. The Offer and Its Implications Alphabet…
Amazon and Google’s Project Nimbus, a $1.2 billion cloud computing contract with the Israeli government, has sparked significant controversy and protests. The project is intended to provide comprehensive cloud services to various Israeli government entities, including the Israel Defense Forces (IDF) and national security agencies. Project Nimbus: An Overview Launched in 2021, Project Nimbus is…
In the past week, the cryptocurrency market has experienced a significant uptick, with Bitcoin (BTC) and Ethereum (ETH) at the forefront of this surge. According to recent reports, the combined market capitalization of these leading cryptocurrencies has increased by approximately $1.44 billion, driving positive momentum across the broader crypto market. Key Drivers Behind the Surge…
The semiconductor industry is experiencing significant shifts as Taiwan Semiconductor Manufacturing Company (TSMC) and Tokyo Electron continue to drive technological advancements and production expansions globally. These developments are crucial in meeting the growing demands for high-performance computing, artificial intelligence, and other cutting-edge technologies. TSMC’s Expansion in Japan TSMC has made notable strides with its investment…
In the ever-evolving tech industry, semiconductor giants Nvidia and Broadcom recently made headlines by completing significant 10-for-1 stock splits. While both companies have taken similar steps to make their shares more accessible to investors, their future outlooks differ significantly. Let’s delve into the implications of these stock splits and what lies ahead for each company….
The fashion industry is abuzz with the news that VF Corporation, the parent company of iconic streetwear brand Supreme, is considering selling the brand. This potential sale comes after VF Corp acquired Supreme for $2.1 billion in 2020, marking a significant investment in the burgeoning streetwear market. The move has stirred conversations about the brand’s…
