Ministers of OPEC oil producers and allies, including Russia, agreed on Sunday in Vienna to maintain the current reduction in the “black gold” production until the end of this year. The countries backed out of the new cut, as Saudi Arabia voluntarily agreed to reduce its production. Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman …
Saudi Arabia Is Voluntarily Reducing Oil Production Read More »
Investment bank Morgan Stanley predicts a “sudden contraction in corporate earnings in the US,” contradicting recent Wall Street estimates. In contrast, the bank’s analysts are optimistic about Japanese, Taiwanese, and South Korean company shares and recommend positions in developed market government bonds. Morgan Stanley forecasts a 16 percent decline in earnings per share for companies …
Morgan Stanley Predicts a Decline in The Value of US Stocks Read More »
The recent departure of key Twitter executives responsible for content moderation and brand safety has exposed the company to an increased risk of hate speech. On Thursday, an important personnel change took place as Ella Irwin, the Vice President of Trust and Safety, stepped down from her role. Subsequently, it was reported that A.J. Brown, …
Artificial intelligence implies that anyone can now be a computer programmer by simply communicating with a computer, according to Nvidia CEO Jensen Huang. He declared the end of the “digital divide.” Nvidia has evolved into the world’s leading semiconductor company, supplying AI chips and computing systems. Last week, the company projected second-quarter earnings to exceed …
According to data released by Statistics Canada on Wednesday, Canada’s economy grew by 0.8 percent in the first quarter of 2023, showing significant improvement compared to the fourth quarter of 2022. The GDP growth exceeded market expectations, which anticipated a 0.4 percent increase following the economic slowdown in the previous quarter, ending a streak of …
The Canadian Economy Recorded a Growth of 0.8% in The Q1 Read More »
The American company Netflix recently launched an option for its users, including lower monthly fees and commercials during broadcast programs. The company’s CEO currently has almost five million global active users every month. According to Reuters, the average age of those viewers is 34, said Jeremy Gorman, Netflix’s president of global advertising and marketing. In …
Netflix Has About Five Million Users with A Lower Subscription Read More »
Oil prices rose to $77 on international markets on Friday, boosted by estimates that the White House and Congress will agree to raise the US debt ceiling and remove the threat of payment problems. On the London market, the price of a barrel was 1.15 dollars higher around noon than at the close of trading …
Oil Prices on International Markets Rose to 77 Dollars Read More »
Saudi Arabia registered a budget deficit in the Q1 of the year as the government boosted spending on wages and economic diversification projects. The country had a shortage of 2.9 billion riyals ($770 million). Government revenue increased in the first quarter, extended by higher non-oil gains, but outpaced by an almost 30 percent advancement in …
The Saudi Arabia Budget Is Again in Deficit in Q1 Read More »
Ukraine, Russia, Turkey, and the United Nations (UN) failed to reach an agreement during negotiations on Black Sea grain exports. According to Reuters, UN spokesperson Farhan Haq stated that there had been no new authorizations for ships to export grain across the Black Sea. Additionally, he mentioned that previously authorized ships are undergoing daily inspections. …
No New Ship Is Allowed to Export Grain Across the Black Sea Read More »
Apple has announced earnings data for its second fiscal quarter, and it had better-than-expected revenue results. Financial results generally beat analysts’ earlier expectations, driven by strong iPhone sales. However, Apple’s overall revenue fell for the second quarter. Shares of the tech giant rose nearly 2 percent in extended trading last night after the market closed …
Apple achieved better-than-expected revenue results Read More »
Oil market sentiment remained gloomy. ICE Brent fell more than 5% Wednesday, settling in the $75/bbl range. This is the greatest daily percentage drop since early January and the lowest level since March. There are a few new factors to warrant the sell-off. However, investors appear to be becoming concerned about the macroeconomic outlook and …
Google’s Sundar Pichai, Microsoft’s Satya Nadella, and OpenAI’s Sam Altmann have been said to have a “moral” duty to protect the public. The white house has made it clear that it can continue to regulate this sector. Recently initiated AI products like ChatGPT and Bard have captured the public’s imagination. They offer ordinary …
The global inventory gauge fell for a fourth straight day while the dollar rose as the European Central Bank boosted the interest rates on Thursday, signaling the need for further monetary tightening, a day after the United States Federal Reserve also hiked interest rates. United States Government bond yields fell, and oil prices stabilized …
The Slump in The Stock Market Following Fed Release Read More »
The Federal Reserve boosted the interest rate by 0.25 percentage points on Wednesday, signaling that it may delay further hikes to give officials time to assess the influence of recent bank failures and await and monitor the resolution of the US debt political impasse inflation. A unanimous decision raised the US Federal Reserve’s interest …
Federal Reserve Interest Rate Boosts and Its Effect Read More »
Stock futures fell on Thursday, a day after the Federal Reserve boosted interest rates by another 25 basis points. Traders also struggle with recurring fear of contagion in the regional banking space. Futures of the Dow Jones Industrial Average declined by 0.3% or 131 points. S&P 500 futures declined by 0.4%, while Nasdaq 100 …
A Slump in The Stock Market Due to Fed Rate Boost Read More »
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