Taiwan Semiconductor Manufacturing Company (TSMC) has exceeded revenue and profit expectations in the second quarter, showcasing a strong performance fueled by the increasing demand for advanced chips used in AI applications. The company reported a revenue of 673.51 billion New Taiwan dollars, surpassing the LSEG consensus estimate of NT$657.58 billion. Additionally, TSMC’s net income of
Nokia, the Finnish telecom company, experienced a massive setback as its shares plummeted following a 32% decline in second-quarter operating profit. The weak demand for its 5G equipment was cited as the primary reason for the disappointing financial results. The company’s Helsinki-listed stock took a hit, dropping by 8% shortly after the market opened in
JD Vance, the new running mate of U.S. presidential hopeful Donald Trump, delivered a hard-hitting speech at the Republican National Convention emphasizing the need to protect the wages of American workers. In his address, Vance highlighted the threat posed by the Chinese Communist Party to American citizens, stressing the importance of safeguarding the interests of
Social Security is facing a looming crisis that requires immediate attention. The program’s trust funds are projected to run out by 2033, leaving only a fraction of benefits payable. Both President Joe Biden and former President Donald Trump have pledged not to cut benefits, but doubts remain about the sustainability of the program. The 2024
General Motors has announced that it will be increasing production of the Cadillac Escalade V-Series performance model for the 2025 model year. The new SUV will come with a variety of updates and enhancements, including a standard 55-inch diagonal display across the dash, a passenger-only screen, an “executive package” for the second row, power doors,
The recent optimism surrounding the Federal Reserve’s potential decision to lower interest rates has had a significant impact on the stock market. With the likelihood of a rate cut by September standing at 100%, traders have been pushing stocks to new highs, as seen with the Dow Jones Industrial Average and the S&P 500 reaching
In the United States, housing represents one of the largest expenses for consumers. High rents and home prices pose challenges for those looking to save for future home purchases. However, beyond these obstacles, access to affordable credit also plays a crucial role in determining one’s ability to achieve homeownership. An estimated 50 million Americans fall
The recent drop in mortgage rates to the lowest level since March has led to a significant increase in refinancing applications. According to the Mortgage Bankers Association, there was a 15% jump in refinance applications last week, marking the highest level since August 2022. This surge in demand is even more striking when compared to
Federal Reserve Governor Christopher Waller recently indicated that interest rate cuts may be in the cards soon, provided that there are no unexpected developments in inflation and employment. He expressed optimism about a potential “soft landing” based on current data and stated that he would be closely monitoring economic indicators in the coming months to
Adidas stocks saw a significant boost after the company’s announcement of an increase in its full-year 2024 earnings guidance. The shares surged by 4.42% at 9:07 a.m. London time, showcasing investor confidence in the brand’s future prospects. Adidas reported a remarkable 11% increase in revenues for the second quarter, surpassing expectations. The company also witnessed