The recent surge in Samsung Electronics’ stock price to its highest level since January 2021 may not be solely attributable to the explosive demand for artificial intelligence. While the company did report better-than-expected profits for the second quarter and cited increased demand for generative AI as a contributing factor, other aspects of the business may
HBC, the parent company of Saks Fifth Avenue, announced a significant move in the retail industry by acquiring Neiman Marcus Group in a deal worth $2.65 billion. This acquisition will bring together two iconic luxury retailers, creating Saks Global. The newly formed entity will include Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus’ department stores,
The hot dog eating world has a new champion, and his name is Patrick Bertoletti. This year’s Nathan’s Hot Dog Eating Contest saw a change in the tide after Joey Chestnut’s departure from the event. The 16-time winner had a falling out with Major League Eating, the organizers of the competition, leading to a more
Women’s soccer is undergoing a transformative shift in ownership structure, unlike any other major U.S. sports league. While leagues like Major League Soccer and the NBA have allowed private equity investors to hold passive, minority stakes, the National Women’s Soccer League (NWSL) is paving the way by permitting these firms to take majority control of
China is currently in discussions with the European Union regarding the bloc’s proposed tariffs on imported Chinese electric cars. The European Commission issued a statement in mid-June declaring that if negotiations with China did not progress positively, additional levies on Chinese EVs would be implemented as of July 4. According to a press release, these
The initial public offering (IPO) market in Hong Kong is anticipated to experience significant improvement over the next five years, starting from the second half of the current year, as per George Chan, the global IPO leader at EY. Despite facing challenges such as high U.S. interest rates, regulatory scrutiny, slower economic growth, and U.S.-China
In a move towards U.S. manufacturing job resurgence, Tema ETFs CEO Maurits Pot has spearheaded the creation of the American Reshoring ETF (RSHO). Pot believes that the current trend towards deglobalization is just the beginning of a larger shift back towards local manufacturing and job creation in the United States, with a particular emphasis on
Ford’s second quarter sales saw a 1% increase compared to the same period last year, with truck sales leading the way with a 5% gain. The total number of trucks sold during this period reached 308,920 vehicles, marking the best second-quarter performance for this category since 2019. The F-Series, in particular, accounted for 199,463 of
Romance scams have become a growing concern in the world of cyber security, with cybercriminals preying on individuals’ emotions to gain access to their wealth accounts. Tracy Kitten, the director of fraud and security at Javelin Strategy & Research, explains that these scams involve building a relationship of trust with the victim, ultimately leading to
Constellation Brands recently reported an earnings beat driven by the strength of its beer business. The company’s comparable net sales for the quarter ended May 31 increased by 6% year over year, reaching $2.662 billion. Adjusted earnings-per-share (EPS) also saw a 17% increase compared to the same period last year, coming in at $3.57. This