Chinese automakers are making big plans to expand their presence beyond their home country and achieve a significant market share globally by 2030. According to a recent report by AlixPartners, these automakers aim to capture 33% of the global automotive market by the end of the decade, a significant jump from the forecasted 21% market
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Shares of Walgreens took a significant hit, falling nearly 20%, following disappointing financial results for the fiscal third quarter. The company reported lower-than-expected earnings and revised its full-year adjusted profit outlook downwards. Despite a strong performance in its healthcare segment, the retail giant is facing challenges in the current environment for pharmacies and U.S. consumers.
President Joe Biden and former President Donald Trump are set to engage in the first presidential debate of the 2024 general election, where they will have the opportunity to discuss their stance on tax policy. One of the key issues at hand is the expiration of Republicans’ tax breaks that were implemented through the Tax Cuts
Morgan Stanley is making significant strides in the realm of artificial intelligence with the introduction of its latest assistant, Debrief. This cutting-edge tool is poised to streamline thousands of hours of labor for the bank’s financial advisors by automating the tedious task of note-taking during client meetings. Unlike previous AI initiatives that focused on enhancing
Southwest Airlines recently experienced a setback as its shares plummeted by approximately 4% in premarket trading following a downgrade in its second-quarter revenue forecast. The airline attributed this revision to changing booking patterns, indicating that revenue per available seat mile is now anticipated to decline by 4% to 4.5% compared to the previous estimation of
Cisco’s Greater China head expressed great optimism about the company’s increasing business with Chinese electric car manufacturers as they venture overseas. The electric vehicle (EV) segment is emerging as one of the U.S. tech giant’s top priorities in the region, with manufacturing companies, particularly those in the electric car industry, being a significant revenue generator.
The impact of inflation has been felt by retirees and near-retirees despite a decrease from its 2022 peak. Research conducted by insurance company Prudential Financial reveals that a significant number of individuals have had to make changes to their retirement plans as a result. According to the firm’s latest survey, 43% of 65-year-olds have postponed
In today’s rapidly evolving retail landscape, traditional brick-and-mortar stores are facing increasing competition from e-commerce giants like Amazon. One such struggling retailer is Target, which is now turning to Shopify in a bid to revamp its online offerings. By teaming up with Shopify, Target hopes to attract new and trendier brands to its marketplace, Target
Forever 21, once a fast-fashion powerhouse with over 800 global locations, is now asking for a 50% rent reduction from landlords due to declining sales and fierce competition. The company’s failure to adapt to changing consumer trends and manage its inventory efficiently has led to its current predicament. Despite its financial woes, Forever 21 has
China has been a major player in the development of the electric car industry, having invested a substantial $230.8 billion over more than a decade. This investment has accounted for 18.8% of total electric car sales between 2009 and 2023. However, the scale of government support has been on the decline, dropping from more than