In a recent development, U.S. government researchers paid a visit to a South Korean mine to assess the progress towards increasing the supply of tungsten, a critical metal used in various industries. This visit marks a significant step in the efforts to reduce dependence on China, which currently dominates over 80% of the global tungsten
Finance
The partnership between Volkswagen and Xpeng marks a significant step towards the creation of electric cars tailored for the Chinese market. With Volkswagen’s $700 million investment in Xpeng, the two companies are working together to develop two electric vehicles for release in China by 2026. The collaboration involves Volkswagen staff spending time at Xpeng’s offices,
In recent years, instances of the federal government revoking passports due to unpaid tax debts have increased. The law mandates that the IRS and Treasury Department inform the State Department when an American holds a “seriously delinquent tax debt.” This debt is a substantial federal amount, exceeding $62,000 as of 2024, that the taxpayer has
The latest quarterly reports from major Chinese companies highlight the need for careful stock selection in the local market. According to Lorraine Tan, director of Asia equity research at Morningstar, the outperformance in the market has been limited to certain companies. The overall trend reflects weakness due to macroeconomic factors, with cautious guidance being issued
As the Federal Reserve’s interest rate decision looms in September, more investors seem to be turning towards dividend stocks. This shift in strategy is fueled by the belief that the Fed will ease rates in the near future. Paul Baiocchi, the chief ETF strategist at SS&C ALPS Advisors, considers this a prudent move. He suggests
The concept of remote work has become a prominent trend in the U.S. labor market, with economists suggesting that it is here to stay for the long haul. This work-from-home revolution has been identified as one of the significant shifts in the labor market over the past couple of decades. According to Nick Bunker, the
Crocs Inc. saw a positive shift in its stock price after an upgrade from Williams Trading, moving from a hold to a buy. The investment firm believes that Crocs’ decision to appoint actress Sydney Sweeney as the spokesperson for its Heydude brand could potentially reverse negative sales trends. This strategic move might have a positive
The recent downward revisions to U.S. payrolls, totaling 818,000 jobs, have sparked widespread debate on the potential implications for the economy. It is important to consider historical context when interpreting such revisions. For instance, during the 2009 revisions, which amounted to 824,000 overstated jobs, the National Bureau of Economic Research had already declared a recession
The stock of Bank of America took a hit, sliding 2% after a regulatory filing showed Warren Buffett’s Berkshire Hathaway continued to downsize its stake in the company. Berkshire sold 13.9 million more shares of the bank over the past three trading days, totaling $550.7 million. This downward trend in Berkshire’s stake raises questions about
In midday trading, Advanced Micro Devices (AMD) saw a gain of over 2% following the announcement of its plans to acquire server builder ZT Systems in a cash-and-stock deal worth $4.9 billion. This move is expected to strengthen AMD’s position in the market and expand its offerings in the server industry. HP shares dropped more