The Bank of England reduced interest rates by 25 basis points on Thursday, even as Labour’s expansive budget announcement complicates the prospects for future policy easing. The decision to lower…
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Investing
The cryptocurrency market surged today as news of Donald Trump’s US election win sent ripples through the digital asset world. Bitcoin (BTC) briefly hit a new all-time high of $76,000,…
Investing
Nissan to cut 9,000 jobs, slash profit forecast by 70% amid tough market conditions
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Japan’s Nissan Motor has announced a series of aggressive cost-cutting measures, including laying off 9,000 employees and reducing its global production capacity by 20%. This marks the second time this…
ON Semiconductor, the $31 billion chip manufacturer based in Scottsdale, Arizona, has faced significant challenges lately. Despite the broader market momentum, with the S&P 500 index climbing 29% from July…
Investing
Under Armour shares surge 25% as company raises profit forecast on cost-saving strategies
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Under Armour’s shares soared 25% on Thursday after the sportswear giant raised its annual profit forecast, citing lower input costs and effective cost-saving measures, such as reducing discounts at its…
Moderna reported a surprising third-quarter profit on Thursday, driven by cost reductions and stronger-than-expected sales of its COVID-19 vaccine, despite lower-than-anticipated revenue from its new respiratory syncytial virus (RSV) vaccine.…