Summary: Philip Morris International (NYSE: PM) announced plans to exit the cigarette business and focus on 'reduced-risk' alternatives. The company's flagship product, IQOS, has shown significant growth, prompting the shift in strategy. Philip Morris aims to replace cigarette sales with lower-risk brands like IQOS, as cigarette sales have been declining due to factors such as health risks, government regulations, and price increases.
Full articleSummary: Nelly Korda won The Chevron Championship, her fifth title of the season and 13th of her career, including 2 majors. She took home $1,185,000 from the $7,900,000 purse.
Full articleSummary: Nike is gearing up for the fall season with the release of the Nike SB Dunk Low in 'Burnt Sunrise', featuring fiery tones and a burnt orange suede upper base, set to hit shelves later this year.
Full articleSummary: Starbucks Chile inaugurates its first outlet in Osorno, managed by Alsea, offering a variety of products. Starbucks aims to create more employment opportunities and unique experiences for consumers in Chile.
Full articleSummary: Goldman Sachs analyst reiterated Buy rating on Microsoft with $450.00 price target due to strategic investments, growth potential in Azure, positive revenue forecasts, and efficient investment cycle.
Full articleSummary: Rare unveils a new sustainable building, Barn X, on Earth Day 2024. The building features eco-friendly design, uses mass timber structures, solar panels, and condensate water for sustainability. It also emphasizes wellbeing and collaboration for its team members.
Full articleSummary: Nvidia's stock has seen a significant increase recently and may likely split again soon, possibly due to high demand for its graphics processing units (GPUs) for AI applications.
Full articleSummary: The research report on Global and Asia-Pacific Radar Market projects a CAGR of 3.80% from 2020 to 2027, with radar systems being widely used in various applications like air traffic control, aircraft navigation, and marine navigation. The market size was valued at $32.56 billion in 2019 and is expected to reach $49.43 billion by 2027.
Full articleSummary: BlackRock Inc. emerges as the leader in climate transition investing, with funds offering the strategy growing 25% to almost $210 billion.
Full articleSummary: Shelby American unveils the latest Super Snake version of the new Ford Mustang GT with a 620kW power output using optional 3.0-litre Whipple supercharger. The model is limited to 250 units worldwide and some will be available in Australia through Mustang Motorsport.
Full articleSummary: Wall Street securities analysts revised their ratings and price targets on several U.S.-listed companies, including American Express, Philip Morris, and Royal Gold. Multiple target price revisions and initiations were reported by different firms for various companies.
Full articleSummary: USC is collaborating with Capital One Financial Corp. to launch a joint research center called the USC-Capital One Center for Responsible AI and Decision Making in Finance, which will be supported by a $3 million gift from Capital One. The center will focus on research projects, faculty-led efforts, workshops, and a fellowship program for doctoral students.
Full articleSummary: Coca-Cola HBC AG's stock price has risen by over 10% in the past few months on the LSE, bringing it closer to its yearly peak. The price seems justified based on the price-to-earnings ratio compared to industry peers. Analysts expect the company's earnings to increase by 45% in the coming years, indicating high growth potential.
Full articleSummary: Nike is set to begin a wave of redundancies starting on June 28, in line with their plans to cut 2% of their workforce or at least 1,600 roles. The restructuring is expected to save $2bn over the next three years.
Full articleSummary: Oracle Academy sponsored TN’Teens third edition in Luxembourg to immerse young individuals into technology through workshops and hands-on learning. The event aimed to provide insights into various tech fields like AI, blockchain, and cybersecurity, with Oracle hosting a workshop on building a social media app using Oracle APEX.
Full articleSummary: Positive trading sentiment for the USD/CHF pair is supported by lower rate cut expectations from the Federal Reserve and robust US economic data. Fed officials are considering delaying rate cuts due to higher inflation readings, causing investors to dial back interest rate expectations. Geopolitical tensions in the Middle East may boost safe-haven assets like the Swiss Franc.
Full articleSummary: Apple CEO Tim Cook discusses the company's aggressive move to expand operations in India due to the growing middle class willing to spend on high-end phones and the need to diversify manufacturing footprint away from China in light of disruptions caused by COVID-19. Apple aims to eventually manufacture 25% of iPhones in India, sparking investor speculation on India becoming the next key market for Apple, alongside Vietnam. iPhone production in India has doubled, but challenges remain in scaling production to China's level. India, with its massive population and growing middle class, presents a huge growth opportunity for Apple's premium products.
Full articleSummary: Google announces it will not claim ownership over the original content generated by its AI-powered services, including Generative AI platforms, and expects users to not engage in misleading activities. OpenAI also permits users to use the content but expects credit.
Full articleSummary: Workers at Shipley's Grant Starbucks cafe voted to unionize, influenced by dwindling hours and increasing traction of unionization across Starbucks locations. They filed a union petition with the NLRB. The Shipley's Grant store became the ninth unionized Starbucks cafe in Maryland, with more stores in the state expected to unionize soon.
Full articleSummary: Coca-Cola launches a new global out-of-home advertising campaign titled 'Recycle Me' in Latin America aiming to encourage recycling by portraying its logo as crushed and distorted on recycled aluminium cans. The campaign depicts authenticity by crushing actual Coke cans for ad assets.
Full articleSummary: Japan's antitrust watchdog, the Japan Fair Trade Commission, has asked Google to reform its business practices after finding unfair restrictions in search advertising agreement with Yahoo Japan. Google has submitted proposals for improvements and been exempted from fines.
Full articleSummary: JTC acquired First Republic Trust Company of Delaware from JP Morgan Chase for $21m, adding $9bn in assets under administration to its Private Client Services division.
Full articleSummary: JTC acquires JP Morgan Chase subsidiary First Republic Trust Company of Delaware for $21m, with $9bn assets under administration.
Full articleSummary: Apple is working on an advanced AI project, developing a language model for on-device operation, in competition with firms like OpenAI and Alphabet Inc.'s Google. The move is aimed at enhancing response times and user privacy.
Full articleSummary: The global e-cigarette market size is projected to grow from USD 22.5 billion in 2023 to USD 37.7 billion by 2033, driven by rising demand for e-cigarettes as a safer alternative to traditional cigarettes. The rechargeable segment is expected to dominate the market, with the tobacco flavor segment growing rapidly. North America is poised to lead the market, while Europe is expected to exhibit fast growth due to permissive regulations.
Full articleSummary: European bank profits are still benefitting from higher interest rates. Earnings reports from various European banks will be released over the next few weeks, with expectations of strong profits. Analysts caution about falling margins and weak loan demand, and mention concerns about a potential economic slowdown impacting the commercial real estate sector.
Full articleSummary: The Global E-Cigarette Market Size is projected to grow from USD 22.5 Billion in 2023 to USD 37.7 Billion by 2033, with a Compound Annual Growth Rate (CAGR) of 5.3%. Rechargeable segment is expected to dominate the market, tobacco flavor is projected to have the fastest growth, and specialty e-cig shops are predicted to grow rapidly in distribution channels.
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