The Trade minister of South Korea called on the United States on Friday to begin talks to revise the Section 232 tariff rules on South Korea’s steel exports. Several years ago, the U.S. removed tariffs on South Korean steel products, but it was in return for a yearly import quota of 2.63 million tons of …
U.S Tariffs on Steel and Aluminum Affected South Korea Read More »
Apple’s iPhone market share in China beat a record high in the fourth quarter last year. The iPhone maker is reclaiming that China is the number one spot for the first time in six years. According to Counterpoint Research, the Cupertino giant had 24% of the market, and sales rose 31% in the December quarter. …
Apple’s Number 1 spot is China hitting record high in sales Read More »
After rebounding to a four-year high, the yuan faces stiff resistance from a Fed-driven dollar. The Chinese currency faces increasing headwinds. PineBridge Investments says the yuan is on track to test 6.25% for the first time since August 2015 due to China’s current-account excess. Mobius Capital Partners LLP doesn’t dismiss a move to 6.21 this …
Yuan to Confront with Resurgent Dollar as China Stands Back Read More »
Stock futures strengthened their positions in overnight trading on Thursday, thanks to Apple, as Wall Street looks to wrap up a rollercoaster week on a high note. Futures on the Dow Jones Industrial Average added about 100 points. Meanwhile, S&P 500 futures gained 0.3% and Nasdaq 100 futures advanced 0.7%. Major averages experienced outsized intraday …
Stock Futures Jumped on Thursday Thanks to Apple Read More »
On Thursday, the dollar rose to its highest level versus other major currencies since July 2020, boosted by expectations that the US Federal Reserve would raise interest rates quicker and more aggressively in the months ahead. Money markets rushed to price in as many as five quarter-point rises by year’s end a day after the …
The Dollar Surges as Investors Anticipate greater rate hikes Read More »
On Thursday, stocks in Asia-Pacific declined as investors digested the U.S. Federal Reserve’s position. The central bank indicated it could raise interest rates as soon as March. In Japan, the Nikkei 225 dropped 3.11% to end its trading day at 26,170.30. The Topix fell 2.61% to close at 1,844.44. South Korea’s Kospi declined 3.5% to …
Stocks in Asia-Pacific Reacted to the Fed’s Position Read More »
Tesla reported positive quarterly results while experiencing supply chain issues. Thanks to strong demand for its electric vehicles, the electric carmaker reported better-than-expected quarterly results on Wednesday. Tesla also reported a massive jump in sales of its semi-trucks. But Musk said that the temporary supply chain issue would continue this year. Shares dropped around 5% …
Tesla beats on revenue, experiencing supply chain issues Read More »
The dollar rose to multi-week highs against other currencies on Thursday with the possibility of rate hikes. It appeared supported by the prospects for quicker and more significant interest rate hikes in the months ahead. As London trade opened, the dollar index maintained its highest levels since December. The euro declined at two-month lows of …
Dollar floats as markets brace for faster rate hikes Read More »
The world’s wealthiest person revealed interesting details during Tesla’s fourth-quarter earnings call. Musk stated that Tesla won’t release any new models this year. Moreover, the company isn’t currently developing a $25,000 car. In his opening remarks, Elon Musk said the continuing chip shortage would make it impossible to release new models without resulting in fewer …
The price of gold or yellow metal, as some people call it, declined on Thursday morning in Asia, extending its losses after falling the most in two months. Investors continue to analyze a more hawkish-than-expected position from the Federal Reserve amid hints of “imminent” interest rate hike. On Wednesday, the central bank indicated it could …
Gold Fell on Thursday But What About Other Precious Metals? Read More »
Analysts and investors are closely watching tech giants including Microsoft. This week, the company reported better-than-expected earnings, as well as revenue, for the fiscal second quarter. Its revenue grew by 20% from a year earlier, compared with almost 22% growth in the first quarter. The tech giant’s income jumped by 21% to $18.77 billion. The …
Microsoft Once More Demonstrated its Capabilities Read More »
On Tuesday, the International Monetary Fund (IMF) released its report. The IMF downgraded its global growth forecast for 2022 as rising Covid-10 cases, supply chain disruptions, as well as higher inflation, hamper economic recovery. Its report contains many interesting details about the global economy. The fund said it expects global gross domestic product (GDP) to …
International Monetary Fund Changed its Position Read More »
The situation regarding Ukraine is not ideal, to say the least. President Joe Biden even threatened to impose devastating sanctions on Russia if Vladimir Putin invades Ukraine. Nevertheless, big corporations and business groups are pushing Biden’s administration and lawmakers to be cautious. A trade group representing General Electric, Chevron, as well as other big corporations …
U.S. Corporations Are Trying to Prepare for Sanctions Read More »
YouTube CEO Susan Wojcicki said that the company would expand to support creators capitalize on new technologies like NFTs. In her annual letter, Wojcicki wasn’t clear about YouTube’s plans. But she said that the popular video site would keep up with the current hype. Wojcicki talked about crypto, NTFs, and even decentralized autonomous organizations (DAOs). …
YouTube CEO says the company has plans to capitalize on Web3 Read More »
The Nigerian Naira strengthened by 0.01% traded against the US dollar at I&E. This result came after the Naira closed the week at a session on Thursday at N304.95 to the dollar. Meanwhile, a speech by the European Central Bank affected the Euro. Analysts expect it to be hawkish this week which may also fuel …
Low Forex Trades supported Naira by 0.01% at I&E Read More »
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