Xiaomi, the Chinese smartphone company, made waves in the electric car market by announcing the launch of its first car, the SU7. This move comes as a direct challenge to Tesla’s Model 3, with Xiaomi pricing its standard version of the SU7 significantly lower than Tesla’s offering. Despite selling each car at a loss, Xiaomi
Finance
The Financial Conduct Authority (FCA) in Britain recently released guidelines aimed at regulating memes created by financial services companies and social media influencers. The FCA emphasized the importance of ensuring that marketing materials related to financial products, including memes, are fair, clear, and not misleading. This move comes as a response to the increasing number
The Central Bank of Nigeria recently announced a 200 basis point increase in its key interest rate in an effort to stabilize the country’s economy after facing challenges such as a historic currency crisis and soaring inflation. This decision comes as part of a series of incremental hikes, highlighting the importance of combating runaway inflation
The recent developments in Nigeria regarding the global cryptocurrency exchange Binance have raised serious concerns about tax evasion. The Federal Inland Revenue Service (FIRS) announced that Binance is facing charges related to alleged non-payment of Value-Added Tax (VAT) and company income tax, as well as failure to submit tax returns. Moreover, the exchange is accused
The private equity landscape in Asia Pacific has experienced a significant decline in total value, reaching its lowest point since 2014. This drop can be attributed to various factors such as slowing growth, high interest rates, and volatile public markets. It is concerning to see that fundraising has also hit a 10-year low, indicating a
Roundhill Investments, a major exchange-traded fund provider, is set to launch a new fund focusing on companies behind GLP-1 drugs in the health care sector. According to Dave Mazza, the firm’s chief strategy officer, this fund is expected to provide investors with opportunities to capitalize on rapid advancements in the pharmaceutical industry. Mazza emphasized the
Anthropic, a red-hot artificial intelligence startup, has been attracting significant interest from deep-pocketed investors, including sovereign wealth funds. The company’s recent move to sell an 8% stake previously owned by the failed cryptocurrency exchange FTX has piqued the interest of several potential backers. However, one notable absentee from the list of interested parties is Saudi
The recent surge in immigration to the United States has been identified as a key factor in supporting the economy, even in the face of various global challenges. Joyce Chang, chair of global research at JPMorgan, highlighted the positive impact of immigration on the economy, attributing much of the increase in consumption to the rise
The trade tensions between Europe and China are expected to intensify as China’s manufacturing capabilities continue to expand in strategic industries. According to Jens Eskelund, the president of the European Union Chamber of Commerce in China, there is a concern that European industries are being priced out of the market due to China’s competitive manufacturing
Hindenburg Research has made a name for itself as a powerful voice in public activist short-selling, targeting big-name companies and hammering their share prices with blockbuster reports. Founded by Nate Anderson, this New York-based activist short-seller has gained a reputation for its fearlessness in going after billionaires like Carl Icahn and Gautam Adani. Despite the