China's BYD Hits a High: Records $4 Billion Profit Amid EV Boom BYD, China's largest electric vehicle company, posted record operating profit last year. BYD's revenue last year was CNY602.15 billion (USD11.17 trillion), up 42.04% year-on-year, and operating profit was CNY30.41 billion (USD5.6 trillion), up 8 China's largest electric vehicle company BYD achieved record operating profit last year. BYD's revenue last year was CNY602.15 billion (USD11.17 trillion), an increase of 42...
Smilegate Barcelona Closes With All Employees Laid OffSmilegate’s first overseas game development studio, Smilegate Barcelona, has closed its doors. The global gaming industry’s restructuring winds are also affecting Korean game companies. Stephane Blais, former World Director of Smilegate Barcelona, announced on LinkedIn on the 27th (local time) that “Smilegate Barcelona is closing its doors. All staff are being laid off.” Edouard Albert, […]
Moderna Secures $750 Million in Funding to Develop a Flu Vaccine, Backed by Blackstone Life SciencesModerna is developing a flu vaccine with an investment from Blackstone Life Sciences, a Blackstone life science investment platform. On the 27th (local time), Moderna announced that it had signed a $750 million financing agreement with Blackstone Life Sciences to develop an mRNA flu vaccine. Moderna stated that Blackstone Life Sciences will receive commercial milestone […]
Valkyrie CIO Predicts Ripple ETF Approval Ahead of Ethereum [Dugguru=Sung-Hwan Hong] It has been observed that a Ripple (XRP) spot exchange traded fund (ETF) is likely to be approved before an Ethereum (ETH) spot ETF. It will be interesting to see if global managers will start to launch Ripple spot ETFs. "I don't think an Ethereum spot ETF will be approved in May because I believe that Ethereum can be a security," said Stephen McClurg, co-founder and chief investment officer of Valkyrie Investments, in a conversation with a reporter from U.S. financial media Fox Business, according to industry sources. "I think it's more likely that Ripple or Litecoin (LTC) will be approved before Ethereum." However, no manager has yet formalized the launch of a Ripple or Litecoin spot ETF. Seven asset managers, including BlackRock, Fidelity, Ark Investments, and Grayscale, have filed to list an Ethereum spot ETF. The U.S. Securities and Exchange Commission (SEC) is expected to make a decision on May 23 on whether to approve ETH spot ETFs. The market is betting that an ETH spot ETF is unlikely to be approved. This is because unlike Bitcoin, which is proof-of-mining (POW), Ethereum is proof-of-stake (POS), which raises ongoing securities issues. Eric Balchunas, an ETF analyst at Bloomberg, previously put the likelihood of an ETH spot ETF approval at 70% in January, but recently downgraded it to 30%. "The approval process for an ETH spot ETF is different from that for a bitcoin spot ETF," he explained, "and we've lowered our odds of approval given the lack of progress with more than 70 days to go before the deadline."
Trump's Truth Social Rockets on Wall Street: A 10% Surge Marks Day TwoThe stock price of Trump Media & Technology Group (TMTG), the parent company of the social media platform Truth Social, founded by former U.S. President Donald Trump, has seen a substantial rise for two consecutive days following its debut on the New York Stock Exchange. According to the Wall Street Journal, on the 27th, TMTG’s […]
Nvidia Accelerates New Product Releases, Solidifies AI DominanceNvidia, the global AI leader, is expected to strengthen its dominance in the AI market as the launch cycle of its new products is being shortened. Moon Jun Ho, a researcher at Samsung Securities, believes that “The anticipation of Nvidia’s dominance in the AI market is continuously strengthening due to the shortened new product launch […]
Cocoa Prices Hit Record High, Surpass Copper and BitcoinThe price of cocoa, the primary ingredient in chocolate, has reached an all-time high, surpassing the $9,000 mark for the first time. This surge is attributed to concerns of supply shortages due to reduced production caused by climate change. According to Bloomberg, on the 25th (local time), cocoa futures traded in New York closed at […]
Colin Huang Becomes China's Second Richest Thanks to 'Temu Effect'Colin Huang, the founder of the Chinese e-commerce company Pinduoduo, has surpassed Tencent chairman Ma Huateng to become the second wealthiest person in China. This is mainly due to the rapid rise of Pinduoduo’s ultra-low-cost online shopping mall, Temu, in global markets, including the United States, which has driven up Pinduoduo’s stock price. According to […]
Chinese Railroad Company Pulls Out of Bulgaria as EU Probes Into Unfair Subsidy BeginsA Chinese state-owned company, which had won a public tender project in Bulgaria, a member of the European Union (EU), has abandoned the contract after initiating an EU investigation into unfair subsidies. The EU Commission announced on the 26th (local time) that CRRC Qingdao Sifang, a subsidiary of CRRC, withdrew from the tender contract for […]
China Challenges U.S. at WTO Over Inflation Reduction ActChina “not environmental protection, but ‘discriminatory law'” China has filed a lawsuit at the World Trade Organization (WTO) against the United States’ Inflation Reduction Act (IRA). According to reports from Yonhap News and the WTO on the 27th, the dispute resolution process began at the WTO following China’s request to rectify the discriminatory subsidy execution […]
Apple's iPhone Shipments to China Drop 33% in FebruaryIn February, shipments of Apple’s iPhone to China fell by more than 30% compared to last year. This marked a struggle for Apple in the Chinese market as shipments decreased for two consecutive months. Bloomberg quoted statistics from the China Academy of Information and Communications Technology (CAICT) on the 26th that iPhone shipments to China […]
General Electric (GE) Prepares to Become a Pure-Play Aerospace CompanyGeneral Electric (GE) is set to become a pure space and aviation company following its spin-off. General Electric (GE) has undergone a significant restructuring of its business since 2018, which has involved asset sales and other means of realignment. As a result, it has split its operations into three divisions: aviation (GE Aerospace), energy (GE […]
Elon Musk Offers Free Test Drive of Tesla's Full Self-Driving System to Boost SalesTesla, an electric vehicle company, is offering its Full Self-Driving (FSD) system free for a month to customers in the United States. This move is seen as a response to a slowdown in sales despite the growing popularity of electric vehicles. According to Reuters and other sources, on the 26th, CEO Elon Musk wrote on […]
Boeing CEO Dave Calhoun to Step Down Amid Safety Crisis and Management ShakeupBoeing’s CEO, Dave Calhoun, is resigning and taking responsibility for several incidents. On the 25th, Boeing announced that, as part of a broad management overhaul due to the safety crisis caused by the in-flight panel crash of the 737 Max model last January, CEO Dave Calhoun will take responsibility and plans to resign by the […]
Nike Beats Expectations in Q3, Plans Strategic Shift Towards New Product LaunchesNike (NKE), the world’s largest sportswear and sneaker retailer, exceeded market expectations with its quarterly performance. Nike’s Q3 fiscal year 2024 (December-February) revenues were $12.43 billion (up 0.3% from the previous year), total sales profit was $5.56 billion (a 3.6% increase), and net income attributable to the controlling shareholder was $1.17 billion (a 5.5% decrease). […]
FedEx Exceeds Quarterly Earnings Expectations Despite Revenue DropFedEx (FDX), a global transportation company, exceeded quarterly earnings expectations. Despite a decrease in revenue, profits increased due to cost-cutting measures. FedEx’s third quarter (December to February) revenue was $21.74 billion, a decrease of 1.9% from the previous year, and operating profit was $1.24 billion, an increase of 19.3%. EPS (earnings per share) recorded $3.51, […]
TPG Plans to Raise $5 Billion Asia Fund with 10% Allocated to Korean MarketTexas Pacific Group (TPG), a global private equity managing firm, is set to establish a massive Asia buyout fund worth approximately $5 billion. They plan to invest around 10% of this fund into the South Korean market. According to Bloomberg and other sources, on the 26th, TPG is planning to close its eighth Asia buyout […]
Apple CEO Tim Cook Commits to Increased Investment in ChinaTim Cook, the CEO of Apple, who is currently visiting China, met with Chinese Commerce Minister of Commerce Wang Wentao and promised more investment in China. According to the Chinese Ministry of Commerce’s website and state-run English newspaper China Daily on the 23rd, the two met in Beijing on the 22nd. China Daily released a […]
JP Morgan: Bitcoin Outshines Gold as Top Investment ChoiceJP Morgan has rated Bitcoin’s investment value higher than gold’s. The Bitcoin spot ETF market is projected to grow to $220 billion in 2-3 years. On the 25th, JP Morgan stated in an investment report, “Bitcoin is taking up a larger share in investors’ portfolios than gold. When adjusting for volatility factors, the preference for […]
Saudi Arabia's Ambitious Shift Towards Automated ManufacturingSaudi Arabia is aiming to reduce its dependence on the oil industry and leap towards becoming a powerhouse in automated manufacturing. According to industry sources on the 24th, Saudi Arabia is striving to restructure its industries around future advanced technologies, reducing its reliance on oil, which accounts for 40% of its Gross Domestic Product (GDP) […]
China's BYD Hits a High: Records $4 Billion Profit Amid EV Boom BYD, China's largest electric vehicle company, posted record operating profit last year. BYD's revenue last year was CNY602.15 billion (USD11.17 trillion), up 42.04% year-on-year, and operating profit was CNY30.41 billion (USD5.6 trillion), up 8 China's largest electric vehicle company BYD achieved record operating profit last year. BYD's revenue last year was CNY602.15 billion (USD11.17 trillion), an increase of 42...
Smilegate Barcelona Closes With All Employees Laid Off Smilegate’s first overseas game development studio, Smilegate Barcelona, has closed its doors. The global gaming industry’s restructuring winds are also affecting Korean game companies. Stephane Blais, former World Director of Smilegate Barcelona, announced on LinkedIn on the 27th (local time) that “Smilegate Barcelona is closing its doors. All staff are being laid off.” Edouard Albert, […]
Moderna Secures $750 Million in Funding to Develop a Flu Vaccine, Backed by Blackstone Life Sciences Moderna is developing a flu vaccine with an investment from Blackstone Life Sciences, a Blackstone life science investment platform. On the 27th (local time), Moderna announced that it had signed a $750 million financing agreement with Blackstone Life Sciences to develop an mRNA flu vaccine. Moderna stated that Blackstone Life Sciences will receive commercial milestone […]
Valkyrie CIO Predicts Ripple ETF Approval Ahead of Ethereum [Dugguru=Sung-Hwan Hong] It has been observed that a Ripple (XRP) spot exchange traded fund (ETF) is likely to be approved before an Ethereum (ETH) spot ETF. It will be interesting to see if global managers will start to launch Ripple spot ETFs. "I don't think an Ethereum spot ETF will be approved in May because I believe that Ethereum can be a security," said Stephen McClurg, co-founder and chief investment officer of Valkyrie Investments, in a conversation with a reporter from U.S. financial media Fox Business, according to industry sources. "I think it's more likely that Ripple or Litecoin (LTC) will be approved before Ethereum." However, no manager has yet formalized the launch of a Ripple or Litecoin spot ETF. Seven asset managers, including BlackRock, Fidelity, Ark Investments, and Grayscale, have filed to list an Ethereum spot ETF. The U.S. Securities and Exchange Commission (SEC) is expected to make a decision on May 23 on whether to approve ETH spot ETFs. The market is betting that an ETH spot ETF is unlikely to be approved. This is because unlike Bitcoin, which is proof-of-mining (POW), Ethereum is proof-of-stake (POS), which raises ongoing securities issues. Eric Balchunas, an ETF analyst at Bloomberg, previously put the likelihood of an ETH spot ETF approval at 70% in January, but recently downgraded it to 30%. "The approval process for an ETH spot ETF is different from that for a bitcoin spot ETF," he explained, "and we've lowered our odds of approval given the lack of progress with more than 70 days to go before the deadline."
Trump's Truth Social Rockets on Wall Street: A 10% Surge Marks Day Two The stock price of Trump Media & Technology Group (TMTG), the parent company of the social media platform Truth Social, founded by former U.S. President Donald Trump, has seen a substantial rise for two consecutive days following its debut on the New York Stock Exchange. According to the Wall Street Journal, on the 27th, TMTG’s […]
Nvidia Accelerates New Product Releases, Solidifies AI Dominance Nvidia, the global AI leader, is expected to strengthen its dominance in the AI market as the launch cycle of its new products is being shortened. Moon Jun Ho, a researcher at Samsung Securities, believes that “The anticipation of Nvidia’s dominance in the AI market is continuously strengthening due to the shortened new product launch […]
Cocoa Prices Hit Record High, Surpass Copper and Bitcoin The price of cocoa, the primary ingredient in chocolate, has reached an all-time high, surpassing the $9,000 mark for the first time. This surge is attributed to concerns of supply shortages due to reduced production caused by climate change. According to Bloomberg, on the 25th (local time), cocoa futures traded in New York closed at […]
Colin Huang Becomes China's Second Richest Thanks to 'Temu Effect' Colin Huang, the founder of the Chinese e-commerce company Pinduoduo, has surpassed Tencent chairman Ma Huateng to become the second wealthiest person in China. This is mainly due to the rapid rise of Pinduoduo’s ultra-low-cost online shopping mall, Temu, in global markets, including the United States, which has driven up Pinduoduo’s stock price. According to […]
Chinese Railroad Company Pulls Out of Bulgaria as EU Probes Into Unfair Subsidy Begins A Chinese state-owned company, which had won a public tender project in Bulgaria, a member of the European Union (EU), has abandoned the contract after initiating an EU investigation into unfair subsidies. The EU Commission announced on the 26th (local time) that CRRC Qingdao Sifang, a subsidiary of CRRC, withdrew from the tender contract for […]
China Challenges U.S. at WTO Over Inflation Reduction Act China “not environmental protection, but ‘discriminatory law'” China has filed a lawsuit at the World Trade Organization (WTO) against the United States’ Inflation Reduction Act (IRA). According to reports from Yonhap News and the WTO on the 27th, the dispute resolution process began at the WTO following China’s request to rectify the discriminatory subsidy execution […]
Apple's iPhone Shipments to China Drop 33% in February In February, shipments of Apple’s iPhone to China fell by more than 30% compared to last year. This marked a struggle for Apple in the Chinese market as shipments decreased for two consecutive months. Bloomberg quoted statistics from the China Academy of Information and Communications Technology (CAICT) on the 26th that iPhone shipments to China […]
General Electric (GE) Prepares to Become a Pure-Play Aerospace Company General Electric (GE) is set to become a pure space and aviation company following its spin-off. General Electric (GE) has undergone a significant restructuring of its business since 2018, which has involved asset sales and other means of realignment. As a result, it has split its operations into three divisions: aviation (GE Aerospace), energy (GE […]
Elon Musk Offers Free Test Drive of Tesla's Full Self-Driving System to Boost Sales Tesla, an electric vehicle company, is offering its Full Self-Driving (FSD) system free for a month to customers in the United States. This move is seen as a response to a slowdown in sales despite the growing popularity of electric vehicles. According to Reuters and other sources, on the 26th, CEO Elon Musk wrote on […]
Boeing CEO Dave Calhoun to Step Down Amid Safety Crisis and Management Shakeup Boeing’s CEO, Dave Calhoun, is resigning and taking responsibility for several incidents. On the 25th, Boeing announced that, as part of a broad management overhaul due to the safety crisis caused by the in-flight panel crash of the 737 Max model last January, CEO Dave Calhoun will take responsibility and plans to resign by the […]
Nike Beats Expectations in Q3, Plans Strategic Shift Towards New Product Launches Nike (NKE), the world’s largest sportswear and sneaker retailer, exceeded market expectations with its quarterly performance. Nike’s Q3 fiscal year 2024 (December-February) revenues were $12.43 billion (up 0.3% from the previous year), total sales profit was $5.56 billion (a 3.6% increase), and net income attributable to the controlling shareholder was $1.17 billion (a 5.5% decrease). […]
FedEx Exceeds Quarterly Earnings Expectations Despite Revenue Drop FedEx (FDX), a global transportation company, exceeded quarterly earnings expectations. Despite a decrease in revenue, profits increased due to cost-cutting measures. FedEx’s third quarter (December to February) revenue was $21.74 billion, a decrease of 1.9% from the previous year, and operating profit was $1.24 billion, an increase of 19.3%. EPS (earnings per share) recorded $3.51, […]
TPG Plans to Raise $5 Billion Asia Fund with 10% Allocated to Korean Market Texas Pacific Group (TPG), a global private equity managing firm, is set to establish a massive Asia buyout fund worth approximately $5 billion. They plan to invest around 10% of this fund into the South Korean market. According to Bloomberg and other sources, on the 26th, TPG is planning to close its eighth Asia buyout […]
Apple CEO Tim Cook Commits to Increased Investment in China Tim Cook, the CEO of Apple, who is currently visiting China, met with Chinese Commerce Minister of Commerce Wang Wentao and promised more investment in China. According to the Chinese Ministry of Commerce’s website and state-run English newspaper China Daily on the 23rd, the two met in Beijing on the 22nd. China Daily released a […]
JP Morgan: Bitcoin Outshines Gold as Top Investment Choice JP Morgan has rated Bitcoin’s investment value higher than gold’s. The Bitcoin spot ETF market is projected to grow to $220 billion in 2-3 years. On the 25th, JP Morgan stated in an investment report, “Bitcoin is taking up a larger share in investors’ portfolios than gold. When adjusting for volatility factors, the preference for […]
Saudi Arabia's Ambitious Shift Towards Automated Manufacturing Saudi Arabia is aiming to reduce its dependence on the oil industry and leap towards becoming a powerhouse in automated manufacturing. According to industry sources on the 24th, Saudi Arabia is striving to restructure its industries around future advanced technologies, reducing its reliance on oil, which accounts for 40% of its Gross Domestic Product (GDP) […]
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