Business News

iPhone sales are growing day by day. Thus, it is making the business grow as Apple noted better results than expected for the second fiscal quarter, May 2023. For the initial three months of the year, USD 24.2 billion is posted in net profit on revenue of USD 94.8 billion in April.

Apple's CEO, Tim Cook, said the company is pleased to report a high record in services and a March quarter recorded good again despite the challenging macroeconomic environment. He added that the company's services revenue climbed to USD 20.9 billion for the first quarter of…

U.S Fed decided to stay strong and to keep raising the interest rates to fight against the inflation. Fed chairman, Jerome Powell in a two-day meeting of the Federal Open Market Committee (FOMC), announced a hike of 0.25 percent recently by bringing the target range for the federal funds rate to reach 5 percent to 5.25 percent. It is highest since 2007.

Again, the Fed was also forced to balance the risks of shaky banking sector against the risks of allowing the inflation to flare up. The FOMC also decided to stay firm in its decision regarding the hike…

Airbnb (ABNB), a service that lets property owners rent out their spaces to travellers , observe a fall , fall in its stocks as  it expects bookings and average rates of stocks to decline in the second quarter of 2023 when compared to 2022.

In the company's earnings call, the second quarter of 2023 turned out to be a bit tough competition to the stock rates in 2022. But the company is focusing overall on the stable demand for the rest half, as said by Airbnb's CFO.

The Airbnb stock also fell as much as 15 percent in the pre-market trade in May 2023. If…

Food is the most significant contributor to inflation in Latin America and the Caribbean (LAC). In Venezuela, the inflation rate is high for the food of Latin America, as per the data by the Food and Agricultural Organization of the United States (FAO). Venezuela saw an increase of 110.4 percent in the inflation rate until September, and Argentina also saw the second highest rate, 86.8 percent.

According to FAO, the three countries with low food inflation rates for the same period are Bolivia at 2.2 percent, Panama at 5 percent, and Ecuador at 7.1…

The global banking system is a crisis hit due to many geo-political problems. Gold is the only asset that has given good returns to investors more than their expectations. Due to instability in the global economy, gold prices rose, which is an all-time high till date.

The price of gold reached INR 61,490 per 10 grams on the Multi Commodity Exchange (MCX). In the first quarter of 2023, when the stock market was even more volatile due to global economic conditions, gold as a commodity gave stellar returns among all other asset classes. Even gold's charm…

Twitter’s new feature is helping it to gain more popularity. Recently, it has launched italic and bold formatting. It has also begun to offer a subscription product for the users who want to provide for the paid subscriber only content to followers.

Twitter’s paying Twitter Blue customers have the access to the enhanced features. According to the reports, Twitter has launched a new feature which allows its users blue subscribers to tweet up to ten thousand characters in messages. It will be supporting bold and italic formatting too.

Again, Twitter Blue…

The main trading partner of China is Brazil. The reports say, China is accounting for the 31.3 percent of Brazil’s exports. The United States followed the next with 11.2 percent, in Argentina 4.2 percent and in the Netherlands 3.3 percent. In 2023, Brazil’s main supplier is China with 22.8 percent; in United States with 17.7 percent; in Argentina with 5.3 percent and the Germany 5.1 percent.

According to the reports, the bilateral trade in Brazilian-Chinese is strengthening year-on-year, increased by some 11 percent in 2022. This trade increase with…

India’s biggest trading partner on account of increasing economic ties in between two countries is the United States.

The United States emerged as the emerged as the biggest trading partner in 2022-2023. As per the reports, the provisional data of the commerce ministry the bilateral trade between the United States and India has been increased by 7.65 percent to $128.55 billion in 2022-2023. It was $119.5 billion in 2021-2022. And in 2020-2021, it was $80.51 billion.

In 2022-2023, exports to the US rose by 2.81 percent to $78.31 billion. It was $76.18…

Economic condition of every country is changing with new initiatives in the field of business. The world of business economy a new law of startups has been started to be an independent entrepreneur yet contributing towards the growing economy.

According to the reports, some 170,000 people have been surveyed across 49 countries and territories based on number of people who felt it is good for the entrepreneurs to correlate with the ones who would go and give an entrepreneurial idea a shot. As per the recently released reports, the Global Entrepreneurship…

The European central bank is focusing on scrutinizing lenders' liquidity reserves and may lay down strict guidelines for individual firms by the end of 2023. The bank's annual review of the risks faced by the banks will pay mindful attention to the management of liquid funds, including the potential for higher standards on critical metrics like the liquidity coverage ratio.

The collapse of Credit Suisse in March 2023 and Silicon Valley Bank in the United States has raised questions on how truly prepared banks are to take the strain on deposits; the…

China has become the largest car exporter and has overtaken Japan in the first three months of 2023. China has exported 1.07 million vehicles in this period, which is up 58 percent as compared to the first quarter of 2022, as per the official figures released in May. Japan's vehicle export has also risen 6 percent from 2022.

The demand for electric cars and sales to Russia has boosted China's exports. In 2022, China overtook Germany to become the world's second-largest car exporter. China exported almost 3.2 million vehicles in 2022 compared to…

The most advanced graphic cards Nvidia’s are selling more than $40,000 on eBay, as demand rises for chips to train and deploy the artificial intelligence software. In March 2023, the company has announced several initiatives to broaden it reach in artificial intelligence (AI) including partnerships and new products as well.

According to the reports, Nvidia’s H100 processors noted by 3D gaming pioneer and former Meta consulting the technology chief John Carmack tweeted on Twitter. Reports reveal, at least eight H100s listed that eBay at prices ranging…

The United States economy adds up jobs quicker in March 2023. With this, the unemployment rate goes down to 3.5 percent. This signs persistent labor market closeness, which would witness the Federal Reserve raising interest rates again in May 2023.

According to the reports given by the Labor Department, the nonfarm payrolls increased by 2,36,000 jobs. March. The data shows that for February, up to 3,26,000 jobs were added in place of 3,11,000, as reported. Also, the slow hiring process reflected the faded boost from unseasonably mild weather in January…

Walt Disney is supposed to lay off thousands of more workers this week as it wants to slash 7000 jobs by the summer 2023. This marks second round of job cuts after a first round that began in March 2023.

Central banks are expecting to settle for the inflation that’s higher than the 2 percent targets as per ta majority of fixed-income investors in the Bank of America Corp. survey.

According to the reports, two-thirds of the respondents in a survey conducted in April said that policymakers will also accept price growth of 2 percent to 3 percent. All these if it means to avoid recession when compared to 42 per cent in poll of March. The are also supposed to stomach even higher inflation of 3 percent to 4 percent.

The reports also find out that the bond…

Credit Suisse became worse from bad in late March of 2022, this resulted in the state-brokered takeover by the rival UBS. The 167-year-old bank’s customers rushed for the exits along with their money.

According to the bank’s latest report on the latest earnings, it showed outflow of net asset of CH 61 billion (69 billion) in the first three months pf the year, as the customer deposits declined by CHF 67 billion that is $75 billion. Also, before the collapse of Silicon Valley Bank across the financial sector. Credit Suisse suffered the apparent loss of…

After the collapse of Silicon Valley Bank and Signature Bank spread, the fear that other banks might also fall increased. It resulted in a run-on deposit mostly at the smaller banks.

Alphabet, the parent company of Google has incurred $2.6 billion in charges related to reductions in the workforce and office space in the first quarter of 2023.

The company, Alphabet also reported a revenue of $69.79 billion in the first quarter of 2023 in the month of January. It announced that it will fire almost 12,000 employees across the product areas, level and regions, and functions. As per the company, they took actions to optimise the global office space reductions of $564 million in the first quarter of 2023. They are in target to incur…