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BYD, the world's largest EV maker, predicts that electric cars will completely replace petrol vehicles. This has led to a 10% decrease in prices for 50 models in the industry. BYD's main focus is budget models, but China's EV market is slowing down. Chinese carmakers are expanding overseas to compensate for declining profits. Price competition is expected to spread to international markets. BYD, backed by Warren Buffett, recorded a record profit in 2023 with an 80.7 percent year-on-year increase.
⏲ 0:35 👁 450K
Mortgage rates climbed to 7.1%, marking the third straight week of gains. Here's a look at what to expect from the housing market in the months ahead.
⏲ 1:24 👁 14.9M
As part of a significant cost-cutting strategy, Alphabet's Google recently eliminated approximately 200 roles from its core team and relocated some positions to India and Mexico. The tech giant also slashed nearly 50 engineering roles stationed at its California headquarters.
⏲ 1:6 👁 330K
Nvidia, one of the world's leading technology companies, has seen a significant increase in value due to the high demand for its advanced AI technology. CEO Jensen Huang shared his vision for an AI-powered future at their annual developer's conference in March and showcased impressive advancements made possible by AI. The company's latest graphics processing unit, Blackwell, is expected to transform the industry and has already caught the attention of Nvidia's rivals. Despite initial setbacks, Nvidia has become a pioneer in AI technology and continues to push the boundaries of what is possible.
⏲ 0:40 👁 485K
Philips shares jumped over 46% on Monday after the company agreed to a $1.1 billion settlement in the US over personal injury lawsuits related to recalling some of its sleep apnea devices. Philips did not admit fault or liability as part of the settlement and maintains that the recalled devices are not expected to cause health issues, according to test results. Philips CEO said the settlement resolves the \
⏲ 0:43 👁 3.1M
Automakers at the Beijing Auto Show are introducing innovative design and features to their cars, such as swivel seats, large screens, and AI-enabled connectivity. The government's green-energy initiatives have transformed the auto market, with EVs accounting for 25% of new car sales in the previous year. The intense competition among EV makers has led to a price war and is expected to result in industry consolidation. Traditional automakers are adapting to keep up with the rapidly changing market.
⏲ 0:41 👁 3.4M
Bitcoin and Ether prices declined as Asian markets opened on Monday, falling around 2 to 3% amid renewed worries about stagflation in the US economy. Slower-than-expected first quarter GDP growth and persistently high inflation data have increased fears of a stagflationary environment. Traders are weighing inflation, growth, and Fed policy risks against the potential for Treasury interventions to inject funds into markets. Most bets still favor no Fed rate cuts this year, but the odds of a single cut are creeping higher against a weakening economic picture.
⏲ 0:35 👁 1.4M
The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, but the index remained in the “Fear” zone on Friday.<br/><br/>U.S. stocks settled higher on Friday, with the S&P 500 recording its best week since Nov, 2023. The index surged 2.7%, snapping a three-week losing streak, while the Dow added 0.7% last week.
⏲ 1:3 👁 2.2M
Hong Kong launched its first bitcoin and ether exchange-traded funds, which had lower-than-expected trading volumes, totaling just over $11 million on their debut day. Bitcoin ETFs accounted for $8.5 million in volume while ether ETFs saw $2.5 million. Issuers had projected over $100 million in initial volume. Ether ETFs are allowed in Hong Kong, unlike in the U.S. where the SEC has not clarified whether ether is a security. The soft debut volume may raise questions about the appetite for crypto ETF products in Hong Kong versus other markets.
⏲ 0:37 👁 1.5M
Apple is set to report second-quarter earnings on Thursday, with Wall Street watching closely for updates on iPhone sales. Shares of Apple are down over 10% year-to-date in 2024, facing challenges including weaker iPhone demand in China and increased competition. Many analysts are focused on Apple's \
⏲ 0:36 👁 975K
Self-storage center real estate investment trusts (REITs) are companies that specialize in owning and operating income-generating storage facilities, commonly known as self-storage centers. Self-store center REITs invest in properties where individuals and businesses can rent space to store their belongings, such as furniture, household items, business inventory, and vehicles of all types.<br/><br/>Investors in self-storage center REITs benefit from the income generated through leasing storage units to tenants. The demand for self-storage has been driven by various factors, including residential moves, downsizing, and businesses seeking additional space.<br/><br/>If you're interested in investing in a self-storage REIT, here are two you could buy today.
⏲ 1:35 👁 2.6M
Shares of smaller firms have been beaten down in this market slump. But history shows they can still outperform over time.
⏲ 2:39 👁 230K
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