The semiconductor industry in Asia experienced a significant downturn on Wednesday morning, as a direct result of Nvidia’s sharp decline in the U.S. The ripple effect was felt across the region, with major players such as Samsung Electronics and SK Hynix being dragged down along with Nvidia. This sudden shift in market dynamics was fueled
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China’s property struggles and U.S. sanctions have had a significant impact on various cities in the country, according to the Milken Institute’s best performing cities China index. Hangzhou, the capital of the eastern Zhejiang province, and home to tech giants like Alibaba, ranked first in this year’s rankings. This success can be attributed to the
The release of Black Myth: Wukong marked China’s entry into the world of AAA video games, sending shockwaves through the industry. Within just three days of its launch on Aug. 20, the action game set in mythological China sold over 10 million units, shattering records and demonstrating the country’s potential in the global gaming market.
Chinese President Xi Jinping recently met with U.S. national security advisor Jake Sullivan and expressed his hope for Washington to find “a right way” to foster better relations between the two countries. Despite escalating tensions in recent years, Xi emphasized China’s commitment to a stable and healthy relationship with the United States. Xi Jinping highlighted
At the ripe age of 94, Warren Buffett, the investment magnate, saw Berkshire Hathaway surge to a market capitalization of over $1 trillion, marking a historic milestone. Howard Marks, a distinguished investor and close friend of Buffett, attributes his enduring success to a meticulously crafted strategy executed with unwavering discipline, consistency, and exceptional insight. According
The White House announced that U.S. President Joe Biden and Chinese President Xi Jinping are scheduled to speak over the phone in the near future. This move comes as U.S. national security adviser Jake Sullivan visits Beijing to meet with Wang Yi, China’s top diplomat. In addition to the presidential phone call, both sides have
Xpeng, the Chinese electric car company, made waves in the automotive industry with the launch of its new mass-market Mona brand. The Mona M03 electric coupe hit the market with prices starting as low as $16,812, significantly undercutting Tesla’s Model 3. The response was overwhelming, with over 10,000 orders for the Mona M03 received within
Volkswagen’s $700 million investment in Xpeng to jointly develop two electric cars for the Chinese market in 2026 is a strategic move for both companies. By spending time at Xpeng’s offices, Volkswagen staff are gaining valuable insights into the startup’s technology, particularly its driver-assist technology. This collaboration is crucial for Volkswagen’s presence in China, where
Travelers who have serious delinquent tax debts exceeding $62,000 may face significant travel restrictions imposed by the federal government. The IRS and Treasury Department are required by law to notify the State Department of individuals with such tax liabilities. Once this notification is made, the State Department may refuse to issue a new passport or
In light of the upcoming Federal Reserve’s interest rate decision in September, there has been a noticeable shift towards dividend stocks among investors. Paul Baiocchi of SS&C ALPS Advisors has expressed his belief that this is a wise move, particularly due to his prediction of the Fed easing rates. This change in investment strategy is
Remote work has become a significant trend in the U.S. labor market, emerging as a result of the Covid-19 pandemic. Economists are noting that this shift towards remote work is one of the most significant changes in the labor market over the past few decades. According to Nick Bunker, an economic research director at Indeed,
Philadelphia Federal Reserve President Patrick Harker made a bold statement at the Fed’s annual retreat in Jackson Hole, Wyoming, indicating that an interest rate cut is imminent. He emphasized the need to start the process of moving rates down methodically in September to address potential weaknesses in the labor market and inflation concerns. With markets