The recent announcement of a partnership between Chinese electric-vehicle maker XPeng and Volkswagen has caused a stir on Wall Street. As a result, XPeng shares have seen a surge in upgrades from analysts. Earlier this week, VW announced that it is investing $700 million in XPeng and collaborating on the development of electric vehicles (EVs) in China. This promising deal … [Read more...] about XPeng’s Partnership with Volkswagen Boosts Stock
Forex News
Mega Millions Jackpot Reaches $1.05 Billion
The Mega Millions jackpot has soared to an astounding $1.05 billion, marking only the fifth time in the game's history that the grand prize has surpassed the billion-dollar mark. Despite the immense excitement, no lucky individual managed to beat the monumental odds and match all six numbers for Friday's estimated $940 million jackpot. The numbers drawn for that round were 5, … [Read more...] about Mega Millions Jackpot Reaches $1.05 Billion
Macquarie Group’s Q1 Earnings Drop
Shares of Macquarie Group, Australia's largest investment bank and asset managers, experienced a downward trend after the company reported "substantially down" earnings for the first quarter of fiscal year 2024. This news comes as a disappointment to some analysts who had higher expectations. The stock price fell by 4.3% to $175.07 Australian dollars (US$118.33), reaching a low … [Read more...] about Macquarie Group’s Q1 Earnings Drop
Microsoft’s Acquisition of Activision Blizzard Nears Completion
For Microsoft (MSFT), the final hurdles in the U.S. regulatory process for the acquisition of videogame company Activision (ATVI) are swiftly being overcome. The FTC failed to obtain an emergency injunction from federal courts to block the merger, and now it seems that the agency may abandon its in-house legal proceedings. According to a filing on the FTC website on Thursday, … [Read more...] about Microsoft’s Acquisition of Activision Blizzard Nears Completion
American Express Boosts Provisions for Credit Losses
American Express Co. announced an increase in its provisions for credit losses in the latest quarter. Despite this, executives at the company remain optimistic about the health of credit trends. During the June quarter, American Express reported a net reserve build of $327 million. This, along with higher net write-offs compared to the previous year, led to consolidated … [Read more...] about American Express Boosts Provisions for Credit Losses
