Oil company Chevron was the most shorted U.S. stock in April, overtaking long-standing top target Tesla as short-sellers up their bets on weaker energy prices, according to a monthly report by data and tech firm Hazeltree.
Prices in Argentina are climbing, despite positive signs of a deceleration, with the embattled South American country’s annual inflation rate set to edge closer to 300% when the government reveals the latest data on Tuesday.
Alphabet is expected to announce on Tuesday how it is building on artificial intelligence across its businesses, a day after OpenAI demonstrated a new AI model that can work with sound and images in addition to text.
The Biden administration’s plan to slap heavy new tariffs on Chinese electric vehicles and batteries would provide temporary protection for U.S. auto jobs, potentially at the expense of White House efforts to fight climate change by accelerating U.S. EV adoption.
U.S. President Joe Biden on Tuesday unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicles, computer chips and medical products, risking an election-year standoff with Beijing in a bid to woo voters who give his economic policies low marks.
China’s Ant Group posted a 19% fall in net profit of 7.87 billion yuan ($1.09 billion) in the three months to Dec. 31, according to Reuters calculations based on Alibaba Group Holding’s earnings released on Tuesday.
Brazilian cosmetics maker Natura &Co reported late on Monday a net loss of 934.9 million reais ($181.29 million) for the first quarter, larger than the 652 million-real loss it had posted a year earlier.
China’s Alibaba Group Holding beat analysts’ estimates for fourth-quarter revenue on Tuesday, as a focus on low-cost goods in response to cautious consumer spending helped boost domestic e-commerce sales.
OPEC stuck to its forecast for strong growth in global oil demand in 2024 on Tuesday and said it would switch to focus on projected demand for OPEC+ crude, reflecting that the wider group is now the main forum for cooperation in the market.
