Author: boursewatch

GENEVA — On Tuesday, high-ranking envoys from China and the United States will gather in Geneva to discuss artificial intelligence, including its potential hazards and methods for establishing common guidelines for its management. The gathering, dubbed a “opening exchange of views,” is the first under an intergovernmental dialogue on artificial intelligence that was decided upon during a multifaceted meeting in November in San Francisco between Chinese President Xi Jinping and US President Joe Biden. According to representatives of the Biden administration, they intend to concentrate on the development of safe, secure, and reliable AI. Both the United States and China…

WASHINGTON A Wyoming nuclear missile base’s proximity to land owned by a cryptocurrency mining company with Chinese backing is prohibited by an order signed by President Joe Biden on Monday. The property used as a crypto-mining facility close to the Francis E. Warren Air Force Base must be sold, per the order. Additionally, it mandates the removal of specific machinery owned by MineOne Partners Ltd., a company that the Chinese government partially owns. According to a U.S. official and another person familiar with the plan, the U.S. is scheduled to impose significant new tariffs on Chinese-imported medical supplies, semiconductors, solar…

The return of prominent investor and analyst Keith Gill to social media has helped GameStop Corp.’s shares soar over the past two days, but experts warn investors that the “buying frenzy” may be coming to an end. A key player in the 2021 meme-stock craze, Gill (also known as Roaring Kitty) brought GameStop (GME, +71.53%) and fellow meme darling AMC Entertainment Holdings Inc. (AMC, +85.78%) shares soaring after his return to X, formerly known as Twitter. GameStop’s stock increased by 77% on Tuesday morning following a 74.4% gain on Monday. With 67.16 million shares traded, the volume of the stock…

Panera Bread is pulling its contentious line of extremely caffeinated lemonade drinks, known as “charged.” The decision was made in response to legal action and concerns raised by some customers who claimed to have experienced severe medical reactions from the fast-casual chain’s beverages. One family even claimed that their 21-year-old daughter had died after consuming a charged lemonade. Many drink enthusiasts, however, are expressing their regret at the drinks’ departure despite these problems. Well, we’re not just sorry—they’re utterly devastated. Many commenters on the social media platform X, which was formerly known as Twitter, expressed their frustration. Someone said they…

Sweetgreen Inc.’s stock shot up 37% before the market opened on Friday. This was due to analysts’ positive assessment of the fast-casual restaurant chain’s first-quarter earnings, which included a mention of this week’s nationwide launch of steak dinners. The stock was expected to surpass the 28% gain it saw on March 1 and set a record for its largest-ever one-day gain. With this move, its gains for the year have increased to 187%, significantly outpacing the 9.8% gain of the S&P 500 SPX. Amidst the COVID-19 pandemic, the company SG, 1.42%, went public in November 2021 and reported better-than-expected revenue…

The largest restaurant liquidation ever, Red Lobster, a chain of seafood restaurants, has abruptly closed hundreds of its locations nationwide and is selling them off. Restaurant liquidator TAGeX Brands is currently holding individual auctions for at least 48 Red Lobster locations, featuring furniture, fixtures, and equipment. On its website, TAGeX stated that the auctions will conclude on Thursday and that “each winner will receive the ENTIRE contents of the Red Lobster location they bid on.” TAGeX CEO Neal Sherman posted on LinkedIn on Monday, saying, “TAGeX Brands is proud to launch the largest restaurant liquidation EVER through its online auction…

Pizza Hut is entering the burger industry. The well-known restaurant chain, which is a division of Yum Brands Inc. YUM, 1.39%, will soon introduce a new Cheeseburger Melt as a member of its Melts lineup of sandwich-style dishes. In particular, instead of the typical bun, the menu item consists of beef, onions, applewood-smoked bacon, mozzarella, and cheddar cheese, all of which are served between two thin pieces of pizza crust. Though it’s not quite a traditional burger, Pizza Hut is still marketing it as such. In a statement, the restaurant chain said, “Pizza Hut wants burger enthusiasts to cheat on…

In anticipation of Wednesday’s inflation data, the rest of the market is sulking, but the meme-stock trade is thriving. Our call of the day is a short position on another trade, as seasoned trader Kevin Muir, who was previously pessimistic about his native country, now goes in for the kill. According to Muir of the Macro Tourist blog, “I’m not a self-loathing Canadian who can only see the things we do wrong, but at the same time, I’m not blind to the macro forces driving global economies.” Furthermore, his thesis predicts “immense” profits for a few major oil companies as…

In 2022, the Lucid Air electric luxury sedan made its debut as a rival to the Tesla TSLA, 1.60% Model S. The first was an expensive, fully loaded model with exclusivity and a price tag to match, as is common with new electric vehicles. Two years later, buyers with a more modest luxury car budget may find the 2024 Lucid LCID, 14.23% Air to be a feasible dream thanks to its lineup of four distinct trims and affordable starting price. ($77,400 plus a destination charge of $1,575) Efficiency, efficiency, and more efficiency Although the technology and design of the Air…

The much-awaited new tariffs imposed by President Joe Biden’s administration on Chinese electric vehicles and other important products have gone into effect. The higher tariffs “will ensure that historic investments in jobs spurred by President Biden’s actions are not undercut by a flood of unfairly underpriced exports from China MCHI in areas like EVs, batteries, vital medical equipment, steel and aluminum, semiconductors SMH SOXX and solar TAN,” Lael Brainard, a top economic advisor to Biden, told reporters. This action is being taken as Biden prepares for a tight 2024 presidential contest against former US President Donald Trump, who was well-known…