How Temu makes money from super-cheap goods like $10 smartwatches
Bargain e-commerce company Temu has had a whirlwind 2023. Quietly launching its app in September 2022, it only took the company a few weeks to top app store charts, edging out Amazon, Walmart and even fast-fashion brand Shein.
Four reasons why the consumer is so confusing — and what that may mean for retail earnings
As Home Depot, Target and Walmart report earnings, retailers and investors have had to weigh contradictory factors as they predict consumer spending patterns.
Michael Burry of ‘The Big Short’ fame reveals potential big bets against the market, tech stocks
Michael Burry, known for calling the subprime mortgage crisis, just unveiled potential massive bets against the stock market.
Argentina devalues its currency, jacks up interest rates after shock far-right primary win
Argentinian stocks and its sovereign dollar bonds were also lower Monday.
Saudi soccer league lures Brazilian star Neymar as it seeks to attract ‘exceptional players only’
Al-Hilal also reportedly bid for PSG and France national team prodigy Kylian Mbappé, for a one-year contract worth up to 700 million euros.
China wants to keep Russia in a ‘Goldilocks’ state — not too strong and not too weak
The dynamic between Beijing and Moscow is more nuanced than it appears on the surface, with neither side wanting the other to become too powerful.
Tesla cuts prices again in China for Model Y, Model 3
Tesla shares fell after the company announced a fresh round of price cuts for the Model Y in mainland China.
Apple supplier Foxconn cautious despite beating earnings forecasts
Apple supplier Foxconn beat estimates for second-quarter earnings on Monday thanks to a booming artificial intelligence sector.
Russian ruble slumps to near 17-month low, briefly moves past 100 against dollar
Friday figures showed Russia’s GDP expanded by a yearly 4.9% in the second quarter.
