Aramco's Profits Fall
On Tuesday, Aramco, the state-owned oil company of Saudi Arabia, reported a 19% decrease in first-quarter earnings, with a net income of $31.9 billion compared to $39.5 billion the previous year, due to the decline in oil prices.
Go Deeper (3 min read)The Buffett Meeting
Despite concerns about the economy and recent market fluctuations, Warren Buffett, CEO of Berkshire Hathaway, remained calm and composed during a Q&A session with shareholders.
Go Deeper (2 min read)May 2023 - Commentary
Interest rates might remain elevated for some time as inflation drags along. A series of broader systemic issues such as the ongoing banking crisis in the U.S.A., uncertainties related to the war in Ukraine and the re-start of the Chinese economy weight on some major companies in Europe and abroad.
Go Deeper (2 min read)The ESG Joyride?
On Tuesday, Florida Governor Ron DeSantis signed a bill that prohibits state officials from using public funds for environmental, social, and governance (ESG) initiatives, as well as ESG bond sales.
Go Deeper (3 min read)Tech Giants Tout AI Investments
Microsoft and Google's Q2 results show slow sales growth despite their promises of AI investment and the launch of generative AI products. The companies have emphasized the potential of AI, particularly in natural language processing, to usher in a new era of computing.
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Warren Buffet Increases His Exposure To Japan
Buffett expressed his satisfaction with his current investments in these firms and stated that he is considering investing further in five of Japan's major trading houses.
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E.U. And China Meet
French President Emmanuel Macron and EU chief Ursula von der Leyen are currently holding talks with Chinese leaders in Beijing. These discussions could mark a new direction for the bloc's relationship with China, which has been strained in recent years.
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U.S. Dollar Could Drop Another 15%
On Tuesday, data showed that U.S. job openings in February had dropped to their lowest level in almost two years, indicating that higher rates were starting to impact the labor market.
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China's Manufacturing Loses Momentum
China's manufacturing industry, which accounts for one-third of the world's second-largest economy, lost momentum in March due to weak export orders, hindering the country's economic recovery from COVID-19 restrictions.
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New research suggests that demographic and other trends existing prior to the COVID-19 pandemic are responsible for most of the remaining shortfall in U.S. labor force participation.
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Alibaba Announces Major Restructuring Plans
On Tuesday, Alibaba Group announced its plans to divide into six units, with most of them seeking fundraisings or listings, in its largest restructuring in its 24-year history
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