World's Top 5 Container Shipping Companies By Returns Suffer Decline In Revenue

The world's five largest publicly traded container shipping companies—including Denmark-based A.P. Moller-Maersk, France-headquartered CMA CGM, China's COSCO SHIPPING Holdings, Japan's NYK Line, and Germany's Hapag-Lloyd—all experienced revenue declines during the fourth quarter of 2023….

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Categorised as Economy

Elon Musk Opposes TikTok Ban As New Restrictions Gain Steam In Congress

Billionaire X owner Elon Musk said Friday he opposes banning TikTok, as a bill that would either force the app’s Beijing-based parent company ByteDance to sell TikTok or prohibit its operation in the U.S. is expected to pass the House Saturday, part of the hotly debated bipartisan foreign aid package….

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Categorised as Economy

Meta AI Declares War On OpenAI, Google With Standalone Chatbot — What To Know About ‘Llama 3’ Model

Meta — the parent company of Instagram, Facebook and WhatsApp — has thrown down the gauntlet on artificial intelligence this week with the release of a standalone AI chatbot and a powerful open-source model, Llama 3, positioning itself as a major competitor to bots from the likes of Google and ChatGPT as companies race to develop ever more powerful systems….

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Categorised as Economy

P&G Records $20B In Quarterly Sales, Raises EPS Forecast

Procter & Gamble (P&G) reported a 1% year-on-year rise in net sales, reaching $20.2 billion in the three months that ended March 31, as it benefits from easing commodity costs and higher product prices….

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Categorised as Economy

Tesla Recalls Nearly 3,900 Cybertrucks Over Gas Pedals That Can Get Stuck—Causing Truck To Accelerate

Tesla will recall nearly 3,900 Cybertruck pickups because of defective accelerator pedals that could dislodge, causing the vehicles to unintentionally accelerate and increasing the risk of a crash, according to a filing Friday, after Tesla halted Cybertruck deliveries last week amid speculation the models were affected by faulty pedals….

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Categorised as Economy

Walmart-Backed Ibotta Soars Over 17% After IPO

Tech marketing firm Ibotta’s stock rocketed Thursday following its public debut, blowing past its offering price one day after the Walmart-backed company raised $577.3 million for its IPO….

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Netflix Reports Record Profits As Subscriber Growth Tops Estimates

Netflix reported blockbuster financial results in its first-quarter earnings report Thursday afternoon, as the streaming king returns to explosive subscriber growth, though some question how long the fruits of its password-sharing crackdown will last….

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Categorised as Economy

Joe Biden Released His 2023 Earnings. Here’s What It Means For His Net Worth

President Joe Biden and First Lady Jill Biden earned $620,000 before taxes last year, according to their 2023 tax return, which the White House released on Monday. That’s a 7% increase from the $580,000 the couple reported making in 2022, a difference that mostly came from a jump in their interest income….

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Categorised as Economy

TSMC's First-Quarter Net Income Rises 9% To $7B

Taiwan Semiconductor Manufacturing Company (TSMC) reported an 8.9% year-on-year growth in net income to $6.96 billion (NT 225.49 billion) for the first quarter of 2024, showed a company statement released Thursday. …

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Drugs Like Ozempic And Mounjaro Could Treat Other Conditions—Here’s What Scientists Are Looking At

Weight loss and diabetes may just be the beginning for drugs like Ozempic, Wegovy, Mounjaro, and Zepbound as reports increasingly suggest they may have far-reaching benefits for treating conditions as diverse as heart and liver disease, Parkinson’s, anxiety, and addiction, sparking research among firms competing in pharma’s latest gold rush….

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Categorised as Economy

UAE-Based ADNIC Acquires 51% Stake In Allianz's Saudi Arm For $133M

Abu Dhabi National Insurance Company (ADNIC) has purchased a 51% stake in German financial services provider Allianz Group's Saudi affiliate Allianz Saudi Fransi Cooperative Insurance Company for $133.1 million (SAR 499 million), a bourse filing showed Thursday….

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Categorised as Economy

Will Elon Musk Revive Vine? New X Poll Could Answer

Billionaire X owner Elon Musk could bring back once-popular short-form video app Vine, asking users in a poll on Wednesday whether X should revive the shuttered app, potentially following through on months of speculation about a Vine comeback years after Twitter shelved the platform….

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Weight Loss Drug Zepbound May Reduce Sleep Apnea, Eli Lilly Says

A late-stage trial of Eli Lilly’s weight loss drug Zepbound showed promising results in treating sleep apnea symptoms in obese adults, the company announced Wednesday, the latest findings suggesting popular weight loss drugs have the potential to treat conditions other than obesity or type 2 diabetes….

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Tesla Wants Musk’s $41 Billion Pay Package Reinstated Despite Recent Headaches

With Tesla facing slow growth and a stock market slide, shareholders will have a pair of major proposals on the slate at the electric vehicle company's annual meeting: The reinstatement of billionaire CEO Elon Musk's historic pay package months after a Delaware judge ruled it was excessive, and a plan to ditch Delaware altogether….

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Categorised as Economy

Abu Dhabi's TAQA In Talks To Takeover Spanish Utility Firm Naturgy

Abu Dhabi National Energy Company (TAQA) confirmed on Wednesday its ongoing discussions for a potential takeover of Spanish utility firm Naturgy, which would involve acquiring stakes of the three largest shareholders—Criteria Caixa, CVC, and GIP—in the company, showed a regulatory filing….

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Categorised as Economy

Paris 2024 Olympics: Beyond Sports, Unique Experiences Await

Paris will be at the center of global attention this year as it hosts the 2024 Summer Olympics from July 26 to August 11, earning the prestigious title of the City of Light once again. Here are various ways to explore Paris during the 2024 Olympics….

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Categorised as Economy

Japan's Exports Up 7.3% In March Amid Depreciating Yen

Japan's exports extended their upward trend for the fourth consecutive month in March, marking a 7.3% increase compared to the same month a year ago, driven by the depreciation of the yen, official data showed on Wednesday….

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FDA And CDC Launch Investigation Into Counterfeit Botox: What To Know

The CDC and FDA have launched an investigation into counterfeit Botox, which they say has caused almost 20 adverse reactions across nine states, and the agencies warn the injections from counterfeit products can lead to harmful outcomes, including a serious illness called botulism….

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Categorised as Economy

What We Know About Tesla Cybertruck Delays—After Customers Reportedly Notice Accelerator Pedal Problems

Deliveries for Tesla’s Cybertruck halted last week, The Wall Street Journal reported, which may be related to a problem with the truck’s accelerator pedal—the latest setback for the electric vehicle manufacturer after its stock price slumped to a 12-month low following CEO Elon Musk’s Monday announcement that the company would cut more than 10% of its global workforce….

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The World’s Celebrity Billionaires 2024

Ten of the 14 A-listers on the ranking have become billionaires in the past four years, spurred by entertainers capitalizing on their brand and fame….

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Categorised as Economy

Trump’s Truth Social Will Launch Streaming Platform — As His Shares Plummet

Former President Donald Trump’s social media site Truth Social announced on Tuesday it will create a streaming platform as it looks to compete in the escalating streaming wars, though shares of the platform’s parent company continue to slide, bringing down the former president’s net worth….

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'Norah' Makes History As First Saudi Film Selected For Cannes

A movie from Saudi Arabia has been selected to compete at the 77th Cannes Film Festival, which will be shown in the festival’s prestigious Un Certain Regard section. “Norah' marks the first feature film by director and writer Tawfiq Alzaidi…

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Categorised as Economy

Baidu's ChatGPT-Like 'Ernie Bot' Attracts Over 200M Users

Chinese tech giant Baidu said Tuesday that its artificial intelligence (AI) chatbot, “Ernie Bot,” has amassed over 200 million users, underscoring the firm's commitment to leading the competitive market of ChatGPT-like chatbots in China. …

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FBI Opens Criminal Investigation Into Baltimore Bridge Collapse

The Federal Bureau of Investigation has opened a federal investigation into the collapse of the Francis Key Scott Bridge in Baltimore, multiple outlets reported Monday, weeks after the National Transportation Safety Board launched its own probe….

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Categorised as Economy

Meet The New AI-Robot Billionaire

Armed with more than $750 million in funding, Brett Adcock vows that Figure will become one of the most important businesses in the world. First, he has a lot of work to do….

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Categorised as Economy

Bitcoin And Ether Climb As Firms Approve Crypto ETFs In Hong Kong

Hong Kong has authorized its first exchange-traded funds tracking digital assets bitcoin and ether, according to statements from multiple issuers, boosting the wider market and making the city Asia’s first to offer the popular products after the U.S. launched the first spot bitcoin ETFs earlier this year….

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Categorised as Economy

Indian Billionaires Soar To Record Highs

India sets another record on Forbes’ World’s Billionaires list, with 200 names, a cumulative total nearing a trillion dollars and Asia’s very first centibillionaire. …

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Categorised as Economy

Oil Prices Drop After Iran's Attack On Israel

Oil prices dropped in early trade Monday due to concerns over a potential escalation in the Middle East conflict that could impact crude traffic following Iran's attack on Israel a couple of days ago….

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Categorised as Economy

Truth Social Is Plummeting. This Trump Property Is Not.

“Turn on your television and watch the great LIV Golf tournament live from Doral, Miami,” Donald Trump posted in all caps on Truth Social, his Twitter knockoff, on April 7, in between bragging about his fundraising numbers and showing off a poll indicating he would beat Michelle Obama in a hypothetical 2024 matchup. …

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Categorised as Economy

The Billionaires Getting Rich From AI 2024

Surging values for both public and private companies with ties to artificial intelligence (AI) led to a flurry of new billionaires in the sector. Here are nine new billionaires whose companies are tied to AI….

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Categorised as Economy

From Mountains To Reefs, Here Are The Global Adventure Travel Trends

Whether it’s the exhilaration of freefalling out of the sky or the thrill of being immersed among the shark-filled reefs of the Indian Ocean, adventure travel trends involve embracing inherent risks, but such expeditions help strengthen both physical and mental resilience….

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Categorised as Economy

Italian Fashion Designer Roberto Cavalli Passes Away At Age 83

The Company announced Roberto Cavalli’s passing with a heartfelt message said by Fausto Puglisi on an Instagram post, who expressed gratitude for the opportunity to work under Cavalli's legacy and continue creating for the brand….

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Categorised as Economy

JPMorgan’s First-Quarter Profit Rises 6% To $13.4B; Citi Reports 26% Fall To $3.4B

JPMorgan Chase has reported a 6% rise in its profit for the first quarter of 2024 to $13.4 billion, boosted by the acquisition of the First Republic Bank (FRB). Meanwhile, Citigroup posted a 26% fall in its quarterly profit to $3.4 billion Thursday, amid increased spending on replenishing the Federal Deposit Insurance Corp (FDIC) fund….

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Categorised as Economy

O.J. Simpson Dies Of Cancer At 76

Actor and Heisman Trophy winner O.J. Simpson, whose acquittal on murder charges in the so-called trial of the century tarnished his reputation, died of cancer on Wednesday, his family announced Thursday morning….

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Categorised as Economy

Heatwaves Threaten Millions of Children In Asia, Warns UN

Soaring temperatures across East Asia and the Pacific threaten millions of children, the UN warned Thursday, urging immediate action to shield vulnerable populations from the looming threat of heatwaves forecasted for this summer….

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Categorised as Economy

Developing Economies In Asia-Pacific Region To Grow By 4.9% In 2024 Amid Robust Domestic Demand

The Asia-Pacific region's developing economies are projected to achieve an average growth of 4.9% for both this year and 2025, according to the latest outlook report from the Asian Development Bank (ADB) released on Thursday, underscoring the region's resilience, driven by strong domestic demand and improvements in semiconductor exports and tourism….

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Categorised as Economy

Paramount Global Shares Hit 14-Year Low—Then Rebound—As Board Members Reportedly Depart Amid Merger

Shares of Paramount Global briefly plummeted more than 7% in intraday trading Wednesday, hitting a 14-year low before recovering to close down 4.3%, as four company board members reportedly prepare to depart amid merger talks with Skydance Media, a potential partnership pairing the legacy media company with billionaire Larry Ellison’s son….

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Categorised as Economy