Author: Daniel snow
U.S. dollar bill.Catherine Mcqueen | Moment | Getty ImagesAsia’s shift away from the U.S. dollar is ramping up. A mix of geopolitical uncertainties, monetary shifts, and currency hedging is prompting a meaningful move toward de-dollarization across the region.”Trump’s erratic trade policy decisions and the dollar’s sharp depreciation are probably encouraging a more rapid shift towards other currencies,” said Francesco Pesole, FX strategist at ING.While the U.S. dollar continues to dominate global foreign exchange reserves, the share of the greenback has declined from more than 70% in 2000 to 57.8% in 2024. More recently, the greenback also saw a steep selloff this…
“Rapid skills change and knowledge turnover may mean formal degrees are more rapidly out of date,” according to PwC’s 2025 Global AI Jobs Barometer report.Nd3000 | Istock | Getty ImagesEmployer demand for formal degrees is declining for all jobs, but more quickly for jobs exposed to artificial intelligence, according to the 2025 AI Jobs Barometer report by professional services firm PwC published last week.”AI helps people rapidly build and command expert knowledge … which could make formal qualifications less relevant,” according to the report which analyzed close to a billion job ads and thousands of company financial reports across six continents.The technology…
The Zara lettering can be seen on the façade above the entrance to a branch of the fashion brand in the city center of Nuremberg (Bavaria) on March 6, 2025.Picture Alliance | Getty ImagesZara owner Inditex on Wednesday posted weaker-than-expected quarterly sales while flagging a slower start to the summer season than last year amid broader economic uncertainty.The Spanish retailer reported revenues of 8.27 billion euros ($9.44 billion) in the fiscal first quarter covering Feb. 1 to April 30, slightly shy of the 8.39 billion euros forecast by LSEG analysts.Net income came in at 1.3 billion euros for the quarter, compared to the 1.32…
Nintendo Switch 2 controllers are displayed during at the Nintendo New York store on June 4, 2025, for a launch event ahead of the video game hybrid console’s midnight release. David Dee Delgado | AFP | Getty ImagesNintendo sold more than 3.5 million units of its flagship Switch 2 gaming system in the four days following its launch, a record-breaking start for the company’s first new console in eight years. The sales figures, reported by the Japanese multinational video-game company on Wednesday, put it on the path to realizing its aim of selling 15 million units of the Switch 2 console…
Asia FX, dollar steady as markets assess US-China trade framework deal Source link
Tesla Inc.’s robotaxi service is tentatively set to start picking up its first passengers in Austin, Texas, on June 22, Chief Executive Elon Musk said Tuesday night. Source link
After months of rising tensions, U.S. and Chinese negotiators have agreed to a “framework” on trade, officials said late Tuesday. Source link
Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul | Pool | Via ReutersTesla CEO Elon Musk said on Tuesday that his company’s robotaxi service is “tentatively” set to launch in Austin, Texas, on June 22. In a post on X, Musk indicated that he’s flying from Los Angeles to Austin for the kickoff, which he’d previously said would be sometime in June. When a commenter asked when public rides will start, Musk said the current plan is for June 22, and that the first…
Jeffrey Gundlach speaking at the 2019 Sohn Conference in New York on May 6, 2019.Adam Jeffery | CNBCDoubleLine Capital CEO Jeffrey Gundlach said Tuesday that international stocks will continue to outshine U.S. equities on the back of what he believes to be the dollar’s secular downtrend.”I think the trade is to not own U.S. stocks, but to own stocks in the rest of the world. It’s certainly working,” Gundlach said in an investor webcast. “The dollar is now in what I think is the beginning of [a] secular decline.”Gundlach, whose firm managed about $95 billion at the end of 2024, said dollar-based investors…
Defense tech startup Anduril Industries will go public, founder and CEO Palmer Luckey said Tuesday.”We are definitely going to be a publicly traded company,” he told CNBC’s “Closing Bell: Overtime.” “We are running this company to be the shape of a publicly traded company.”He added that there isn’t “really a path” for a company like Anduril to win significant trillion-dollar defense contracts without going public.Luckey did not detail an IPO timeline.Since its founding, Anduril has risen to become one of the most highly valued private U.S. technology companies and is an innovator in the defense tech space, chipping away at…