Share markets across Asia are expected to stay in the red after last week’s tech bloodbath, as well as the shock announcement of US President Joe Biden bowing out of the presidential race in November.
Industry
Barbie Creator Mattel's Shares at an Uptick After L Catterton Reveals Buyout Offer
French private equity firm L Catterton reportedly approached toymaker Mattel with an offer to acquire it, according to several sources quoted by Reuters.
Google Calls off Long-Awaited Plan To Eliminate Advertising Tracking Cookies
Google launched an initiative to eliminate cookies in 2020 but delayed the deadline thrice after failing to gain full support from regulators.
McDonald’s To Extend $5 Value Meal Promo for Another Month in Push To Attract Consumers
The $5 value meal includes a McChicken or McDouble, chicken nuggets, fries, and a small drink. Fast food chain McDonald's has announced it will extend its popular $5 value meal promo for another month as part of a push to attract more consumers back to its stores.
Big European Banks to Report Q2 Earnings This Week
The largest banks in Europe, such as Santander, BNP Paribas, and Deutsche Bank, are set to report their earnings for the second quarter of 2024 this week following the announcement from the European Central Bank that it would not change its interest rates.
Latest News
The global tech outage affected about 8.5 million Windows-based computers and laptops worldwide. A global tech outage following a faulty update from Crowdstrike caused business operations around the world to stop on Friday, leading to an estimated $1 billion in damages.
More than 2,000 flights in the US were canceled by Sunday evening following the tech outage. Hundreds to thousands of businesses worldwide are still struggling following a faulty software update that caused global tech outages on Friday.
The company also said it will no longer participate in or support "external social or cultural awareness parades, festivals, or events.”
The new mini-model is an offshoot of GPT-4o, the company's fastest and most powerful AI model to date. Learn the features of this new model here.
The S&P 500 slid 0.78% on Thursday while the Dow fell 1.29%. Read more about it here. The US stock market saw a significant slump Thursday amid speculations the Federal Reserve could cut its benchmark rates in September.
Previous election seasons saw the S&P 500 slump and the Dow Jones Industrial Average trade below 11,000.
Netflix is expected to report its second-quarter earnings on July 18, with everyone on Wall Street paying close attention to any of the details or information the streaming service would provide about its advertising-supported business model.
Nvidia CEO Jensen Huang decided last week to sell over $31 million worth of the company’s stock in a move to entice investors.
Taiwanese chipmaker TSMC said that the rising demand for artificial intelligence is boosting its growth and capacity and is influencing its short-term forecast.
