Saudi Aramco, the state oil giant, reported a net profit of $29.1 billion for the second quarter of the financial year, showing a slight decrease of just over 3% compared to the same period last year. The decline in profits can be attributed to the low crude production volumes that the company experienced during this
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India is projected to experience the most rapid expansion in ultra high net worth individuals worldwide over the coming years, according to consultancy Knight Frank. This comes as no surprise given the surge in India’s ultra-wealthy population, with a net worth exceeding $30 million, which increased by 6.1% to 13,263 individuals in 2023. The ultra-wealthy
On Monday evening, brokerage firm Robinhood made a significant announcement that shook the trading industry. The company revealed that it would not be offering overnight trading due to an issue with its execution venue. This decision was likely met with frustration from traders who rely on Robinhood for round-the-clock trading options. The third-party firm that
Warren Buffett’s unexpected decision to cut Berkshire Hathaway’s Apple stake by half has sent shockwaves through the investing world, leading to a significant drop in the tech stock’s value on Monday. This move has raised eyebrows and sparked speculation about the reasons behind such a drastic action. In the wake of an intensifying global sell-off
In recent years, record inflation has caused many individuals to question the once widely-held belief that homeownership is a good investment. The escalating prices of homes have outpaced the growth of incomes, leading to concerns among homeowners. According to a 2023 analysis of U.S. Census data by the Chamber of Commerce, more than 1 in
DraftKings, a leading mobile betting platform, has recently announced its plans to implement a gaming surcharge on winning bets in states with high sports betting tax rates. This move is intended to boost the company’s profits and align itself with industry standards. However, the decision has sparked discussions and criticisms within the gambling community. The
Delta Air Lines CEO Ed Bastian recently took a bold step to acknowledge the challenges faced by the company’s employees in the wake of massive disruptions caused by a botched CrowdStrike software update. These disruptions led to thousands of customers and crew members being stranded, resulting in the cancellation of over 5,000 flights from July
The recent update on the U.S. Food and Drug Administration’s drug shortage database has brought some relief to users of Eli Lilly’s weight loss injection Zepbound and diabetes drug Mounjaro. However, the fact that these drugs faced shortages for some time raises questions about the challenges in the pharmaceutical supply chain. The scarcity of these
Exxon Mobil has recently reported its second-highest results for the second quarter in the past decade. The company attributes this success to achieving record production in Guyana and the Permian Basin. CEO Darren Woods mentioned that it is the highest level of oil production since Exxon and Mobil merged in 1999. During the second quarter,
The current Federal Reserve meeting is highlighted by the speculation surrounding potential future interest rate cuts. Despite the expectation that policymakers will maintain short-term interest rates at their current levels, there is a strong belief in the market that a rate cut will be announced in September. The key question that remains is the extent