China’s factory activity jumped back into expansion among smaller manufacturers in October 2024, according to a private survey report released on Friday 1st November 2024. In October 2024, the Caixin/S&P Global manufacturing purchasing managers’ index reached 50.3, surpassing the prediction of 49.7. The index stood at 49.3 in September 2024, 50.4Read More →
Apple Apple’s fourth-quarter results surpassed Wall Street forecasts for revenue and earnings per share. However, net income declined due to a one-time charge related to a tax settlement in Europe. iPhone sales and overall sales both rose by 6%. Amazon Amazon’s shares soared in after-hours trading following the announcement ofRead More →
Super Micro Computer’s shares dropped 33% in premarket trading 30th October 2024, following the announcement in a regulatory filing that Ernst & Young had stepped down as its accounting firm. The filing revealed that EY had expressed doubts about the AI server company’s “commitment to integrity and ethical values” duringRead More →
Volkswagen’s operating profit fell to 2.86 billion euros ($3.1 billion), with third-quarter sales revenue experiencing a 0.5% year-on-year decrease to roughly 78.5 billion euros. These figures come after Volkswagen lowered its annual outlook for 2024 last month, which was the second adjustment within a few months. The company has recentlyRead More →
Microsoft’s significant investment in OpenAI is impacting its earnings – 30th October 2024 The company reportedly indicated, following the quarterly earnings report, that Microsoft anticipates a $1.5 billion reduction in income for the current period, primarily due to projected losses from OpenAI. Microsoft’s nearly $14 billion investment in OpenAI, theRead More →
Inflation saw a modest rise in September 2024, edging closer to the Federal Reserve’s target, as reported by the Commerce Department on Thursday 31st October 2024. The personal consumption expenditures (PCE) price index recorded a seasonally adjusted increase of 0.2% for the month, and the year-over-year inflation rate stood atRead More →