In November, Chinese exports decreased at their fastest rate in more than two years. It is the largest drop in outbound shipments from China since February 2020, when a statewide lockdown brought about a halt to economic activity led to a 8.7% drop year over year.
Go Deeper (2 min read)The Charles Schwab Corporation
Located in the United States, The Charles Schwab Corporation is a global provider of financial services. Both retail and institutional clients can take advantage of its banking, commercial banking, investment, consultancy and wealth management advisory services.
Go Deeper (8 min read)In November, the U.S. economy created 263,000 new jobs, and the unemployment rate stayed at 3.7%, indicating ongoing resilience in the labor market.
Go Deeper (2 min read)Shoppers Are Back
Although Americans spent more time and money shopping on Black Friday than they did the year before, certain figures indicate that they were also cautious with their spending as inflation put a strain on their wallets.
Go Deeper (2 min read)Bob Iger Is Back At Disney
Disney greatly increased its content investment under Chapek, reaching over $30 billion in just one year. In addition, Disney+ was priced significantly lower than most of its competitors.
Go Deeper (2 min read)More from Business
FTX Is Done
Binance CEO Changpeng Zhao (also known as CZ) tweeted over the weekend that the company will liquidate its stakes in FTT, the fiat-currency created by FTX which is the third largest crypto exchange.
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Stripe To Reduce Headcount By 14%
Stripe CEO Patrick Collison stated in a letter to staff that 2022 has been more difficult than previous years. The company blamed inflation, energy shocks, higher interest rates and lower investment budgets for the company's slowdown.
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Big Tech Is Crashing
Amazon anticipates fourth-quarter revenue to be between $140 billion and $148 billion, up 2% to 8% from the same period last year. Refinitiv reports that analysts were anticipating sales to total $155 billion.
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Meesho Is Catching Up
The app, which is only available in India, has 127 million downloads within the same time period compared to 81 million for Amazon and 50 million for Flipkart.
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After two years of port congestion and container shortages, logistic issues are slowly easing as Chinese exports decline as a result of softer demand from Western nations and weaker global economic outlook.
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Rivian, Still A Bubble?
Founded in 2009, Rivian Automotive, Inc. is an American manufacturer of electric vehicles and provider of automotive technologies. Its car a built on a so-called skateboard platform that can accommodate future vehicles or be adopted by other automotive companies.
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