Inflation rates in the euro area remained constant at 2.4% in April 2024, and the economy experienced growth in the first quarter, as indicated by preliminary figures released on Tuesday. Headline inflation at 2.4% aligned with economists’ forecasts, while monthly inflation registered at 0.6%. Core inflation, which excludes energy, food,Read More →
Cryptocurrency Exchange Traded Funds (ETFs) have been issued by three Chinese companies: Bosera Asset Management, China Asset Management and Harvest Global Investments, all on the Hong Kong exchange. These are the first ETFs to be issued in Asia. ETFs enable investors to gain exposure to the price movements of theRead More →
Tesla’s shares surged on Monday 29th April 2024, marking their best performance since March 2021, following the company’s achievement in advancing its driver-assistance technology in China. The stock closed 15% higher, buoyed by investor enthusiasm over Tesla CEO Elon Musk’s visit to China. On Sunday 28th April 2024, Tesla announcedRead More →
Chinese automotive giant BYD has experienced a decline in profits amid a slowdown in electric vehicle (EV) demand and a price war in the largest car market globally. The company reported earnings of $630 million (£502 million) for the first quarter, a drop of over 47% from the previous quarter.Read More →
Intel shares fall after company provides weak forecast for earnings, but disappoints with sales. The stock fell 8% in extended trading. Monthly stock price chart for Intel Corp. March to April 2024 Intel actual versus consensus expectations for the quarter ended in March 2024: Earnings per share: 18 cents vs.Read More →
Borge Brende, the president of the World Economic Forum (WEF), recently issued a stark warning about global debt levels. Speaking at the ‘Special Meeting on Global Collaboration, Growth and Energy for Development‘ in Riyadh, Saudi Arabia, (see WEF website), he highlighted that global debt ratios are approaching levels not seen since the 1820s. TheRead More →
Private equity firm Thoma Bravo has agreed to acquire Darktrace in a $5.32 billion (£4.25 billion) cash acquisition. This translates to roughly $7.75 (£6.20) per share, which is a 44% premium over the company’s average share price as calculated over the last three months. Darktrace, headquartered in Cambridge, focuses on cybersecurity, employingRead More →
Inflation has become a persistent challenge for the Fed The battle against inflation persists, gradually impacting the U.S. economy and presenting substantial challenges for the Federal Reserve. Despite concerted efforts to control it, inflation remains stubbornly remains, leaving policymakers in a dilemma – to stimulate economic growth or to curbRead More →
Winston Churchill 1874 – 1965 Sir Winston Leonard Spencer Churchill was a British statesman, soldier, and writer who served as Prime Minister of the United Kingdom twice, from 1940 to 1945 during the Second World War, and again from 1951 to 1955.Read More →
Microsoft’s Q3 results surpassed estimates for both revenue and earnings. But the revenue forecast for Q4 was less than anticipated, with the company reportedly projecting $64 billion, which is below the consensus of $64.5 billion – (only just). Revenue: $61.86 vs. $60.80 billion expected Earnings per share: $2.94 vs. $2.82 expected Additionally,Read More →
Alphabet announced on Thursday 25th April 2024 that it is issuing its first-ever dividend of 20 cents per share and that its board has authorised a stock repurchase of up to $70 billion. This announcement follows Meta’s board authorising its own inaugural dividend in February. As of 31st March 2024,Read More →
The gross domestic product (GDP) from January to March 2024, grew at an annualised rate of 1.6%, significantly underperforming the projected 2.4%. The personal consumption expenditures (PCE) price index, crucial for the Federal Reserve’s inflation assessments, climbed at an annualised rate of 3.4% for the quarter, marking the largest increaseRead More →
AI startup Synthesia on Thursday 25th April 2024 announced its ‘Expressive Avatars’. These are AI-generated digital avatars that can express human emotions including happiness, sadness, and frustration. Synthesia, supported by the tech giant Nvidia, reportedly secured an investment of $90 million in 2023, reaching a valuation close to $1 billion.Read More →
Meta Platforms Inc. suffered a serious loss, witnessing its market value plummet by $200 billion. The decline happened following the company’s first-quarter earnings call, during which CEO Mark Zuckerberg highlighted the company’s substantial investments in artificial intelligence (AI) and the Metaverse, instead of concentrating on immediate revenue streams. Despite aRead More →
Powering artificial intelligence (AI) models takes a substantial toll on our planet’s energy resources. Delving deeper into AI, it becomes crucial to comprehend the environmental impact of this technological revolution. Current trends A new peer-reviewed study featured in ‘Joule‘ highlights the significant energy requirements of AI. The research, carried outRead More →
Tesla’s profits have significantly decreased so far in 2024, prompting the company to accelerate the introduction of new models. The company is also reducing its workforce by thousands in an effort to improve its financial outlook. The electric vehicle manufacturer reported earnings of $1.13 billion for the first quarter, aRead More →
The UK FTSE 100 stock index has reached a new record closing price on Monday 22nd April 2024 The new all-time high was likely propelled by a weakening pound and reduced tensions in the Middle East. The FTSE 100 has been the laggard for many months. The index concluded MondayRead More →
Voyager 1, launched in September 1977, holds the distinction of being the furthest human-made object from Earth. It embarked on an incredible journey, venturing beyond the boundaries of our solar system and into interstellar space. Here’s the latest update on this iconic spacecraft Communication On 14th November 2023, Voyager 1 experienced anRead More →
A Japanese proverb This is a simple yet beautiful and profound quote. It reminds us of the enduring strength and resilience of nature. The mountain, despite the fierce winds, stands unwavering and unyielding.Read More →
Bitcoin halving is a significant event in the cryptocurrency world What is Bitcoin Halving? Bitcoin halving, which happens roughly every four years, cuts the rate of new Bitcoin creation by half. This event is tied to the method of recording and generating Bitcoins. Transactions are logged on a blockchain, a ledgerRead More →
UK police have dismantled a gang that provided a technology service enabling criminals to use fraudulent text messages to defraud victims Britain’s Metropolitan Police announced on Thursday 18th April 2024 that the ‘LabHost‘ website had been utilised by 2,000 criminals to pilfer personal details from users. The police have reportedlyRead More →
Meta’s complimentary artificial intelligence (AI) assistant, known as Meta AI, is being introduced across its social media platforms, including WhatsApp, Instagram, Facebook, and Messenger. The assistant is reportedly designed to respond to queries, craft animations, and produce ‘high-quality’ images, according to Meta CEO Mark Zuckerberg in a recent video posting.Read More →
Norway’s massive sovereign wealth fund reported a first-quarter profit of 1.21 trillion kroner ($109.9 billion) – bolstered by strong returns from its technology stock investments it was announced on Thursday 18th April 2024. Established in the 1990s, Norway’s sovereign wealth fund, the largest in the world, invests the surplus revenueRead More →
Digital assets have soared recently to unprecedented heights and then plummet just as quickly. It’s an extremely volatile financial environment. Amid this volatility, the European Union’s securities watchdog, the European Securities and Markets Authority (ESMA), has sounded a cautionary note. The Concentration Conundrum ESMA’s latest report highlights a considerable concern: theRead More →
The statement that a single speck of dust is halfway between the size of an atom and the entire planet Earth is a fascinating way to think about scale, and it’s based on a logarithmic, not linear, scale. A fun fact On a linear scale, the size of a dustRead More →
TSMC stands as the world’s foremost producer of sophisticated processors, boasting clientele that includes industry giants like Nvidia and Apple Unprecedented demand for AI chips is being led by the proliferation of large language models such as ChatGPT and Chinese equivalents. Taiwan Semiconductor Manufacturing Company (TSMC) on Thursday 17th April 2024 beatRead More →