Snap Inc. (NYSE: SNAP) has been a disappointment for its shareholders throughout 2024. The stock has dropped over 40% in the past three months, bringing its valuation to an attractive level. But is this a great buying opportunity or just another value trap? According to Andrew Boone, an analyst at…
Russia on Wednesday proposed the creation of a BRICS grain exchange, which could be later used as means to trade other major commodities. At the 16th BRICS summit in Russia on Wednesday, President Vladimir Putin said a grain exchange would help protect nations in the group and countries in the…
During a recent summit, Brazilian President Luiz Inacio Lula da Silva highlighted the necessity of creating new payment systems for the BRICS nations. He stressed the importance of financial independence and suggested that their New Development Bank could be a viable alternative to conventional Bretton Woods institutions. Lula, speaking via…
Gold prices extended their gains and hovered near record high levels on increased safe-haven demand for the precious metal. Gold’s rally is increasingly gaining momentum ahead of the US presidential election in November. Former President Donald Trump and Vice President Kamala Harris are running neck-and-neck in opinion polls, and a…
In a significant move, the Bank of Canada cut its benchmark interest rate by 50 basis points, lowering it to 3.75% in its October 2024 decision, as expected, and signalling that it will continue to lower its rate should the economy develop as expected. This move is consistent with market…
US benchmark equity markets fell on Wednesday as Treasury yields continued to rise amid a shallow outlook for the Federal Reserve’s rate-cut cycle. At the time of writing, the Dow Jones Industrial Average was down 1.4%. The average shed more than 600 points, and fell for the third straight session. …
Bitcoin’s designation as a “Trump trade” is beginning to feel the pressure from broader global market shifts, spurred by the possibility of Donald Trump’s return to the White House. With the Republican nominee leading Vice President Kamala Harris in prediction markets, bond yields, and the US dollar have jumped recently.…
The slow and dirty process of extracting lithium from rocks and salt water could take a toll on the environment, especially when the world tries to limit carbon emissions. But, the race towards achieving net-zero emissions relies heavily on lithium. And, so finding a solution to produce lithium in a…
Elon Musk’s $1 million-per-day giveaway has come under scrutiny as the US Department of Justice (DOJ) warns it may breach federal election laws. Musk, actively supporting Donald Trump in the presidential race against Kamala Harris, launched this initiative through his political action committee, America PAC. The giveaway offers a chance…
The competition between Elon Musk and Mukesh Ambani intensifies as both billionaires set their sights on India’s emerging satellite broadband sector. Following the Indian government’s announcement that satellite spectrum for broadband will be allocated administratively rather than through auction, the stakes have risen. What is satellite broadband? Satellite broadband provides…