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Burberry to cut 18% of global workforce in cost-saving push amid turnaround efforts

3 Mins Read

Burberry is set to cut as many as 1,700 jobs worldwide as part of a wider cost-cutting effort, as the British fashion house grapples with a challenging luxury retail environment.

The company said Wednesday it aims to save an additional £60 million ($80 million) over the next two years, with the layoffs representing roughly 18% of its global workforce.

Burberry currently employs more than 9,000 people.

The announcement came alongside the release of its full-year results, which showed adjusted operating profit of £26 million—well above analysts’ expectations of £4.7 million.

Still, the figure marked a steep decline from the £418 million reported the previous year, underscoring the scale of the challenge CEO Joshua Schulman faces as he attempts to steer the brand back to growth.

Early signs of improvement amid tough market

Burberry reported a 6% decline in comparable sales for the fourth quarter ending March 29, a slight improvement over analyst forecasts for a 7% fall.

The company said that brand sentiment was improving, especially in outerwear and scarves, even as overall customer demand remained weak.

Schulman, who took the helm in July last year, said the brand is still in the early stages of its revamp but expressed confidence that ongoing initiatives will begin to bear fruit as the year progresses.

“We expect to see the impact of our actions build as the year progresses,” Burberry noted in its earnings statement.

Navigating a shifting luxury landscape

Burberry’s efforts come at a time when aspirational consumers are pulling back on discretionary spending due to inflation and global uncertainty.

The company has also been hit by reduced demand for entry-level luxury items and growing concern over potential trade tariffs under a second Donald Trump presidency.

The brand’s iconic trench coats, which retail for around £2,000, remain central to its strategy, as Schulman works to reassert Burberry’s high-end positioning.

However, the company faces an uphill battle after decades of brand dilution and inconsistent leadership—having cycled through four CEOs in the past decade.

In recent years, Burberry’s image has shifted, with its once-exclusive patterns becoming associated with mass appeal, particularly in the UK.

Its relegation from the FTSE 100 index last September symbolised the struggles of a once-dominant player in the luxury space.

Accelerated savings programme under way

As part of Schulman’s turnaround strategy, Burberry initiated a £40 million cost-cutting programme in November 2024.

The company now expects £24 million of those savings to materialise in the current fiscal year, with a further £60 million targeted by FY27.

Despite recent turbulence, Schulman remains optimistic. “The actions we’ve taken in the last 90 days reflect our commitment to reshaping Burberry for long-term success,” he said.

Shares in Burberry have fallen 16% so far this year, reflecting investor concerns about sustained weak demand and execution risk around the turnaround plan.

The post Burberry to cut 18% of global workforce in cost-saving push amid turnaround efforts appeared first on Invezz

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Is Now a Good Time to Buy Bitcoin?

16 Mins Read

Bitcoin is prone to price volatility, with wide swings to the upside and downside, making it difficult for investors to know when the right time to buy the top crypto is.

There has been renewed interest in cryptocurrencies following the election of US President Donald Trump, leading the Bitcoin price to soar to new heights in late 2024, as investors and other industry insiders speculated on how the Trump administration’s policies could grow the sector and encourage mainstream adoption.

Trump ran on a platform that promised to make the US the Bitcoin capital of the world, vowing to establish a national reserve for the asset, and several states have already introduced legislation to create similar reserves within their borders.

The price of Bitcoin pulled back to under US$100,000 in February 2025 and fell as low as US$75,000 by April 9, marking a strong buying opportunity for crypto investors. Bitcoin has since rebounded, and on May 9 topped US$100,000 for the first time since early February.

Meanwhile, institutions and businesses like Michael Saylor’s Strategy have continued to buy Bitcoin by the millions, and spot Bitcoin exchange-traded funds (ETFs) remain popular.

This surge of interest paints a bullish picture of Bitcoin’s continued growth. However, buying Bitcoin isn’t a simple decision. Read on to learn the basics of Bitcoin fundamentals, price forecasts and methods for determining if now’s the right time to buy Bitcoin, including several popular technical trading indicators you should know.

In this article

    What gives Bitcoin its value? 5 factors to know

    Before you decide if Bitcoin is a good investment for you, you need to understand Bitcoin and the wider crypto market.

    Bitcoin was the world’s first cryptocurrency, created in January 2009 by the mysterious Satoshi Nakamoto.

    Conceived as a virtual alternative to fiat currency, Bitcoin is built atop blockchain technology, which it uses for both validation and security. Blockchain itself is a distributed digital ledger of transactions, operating through a combination of private keys, public keys and network consensus.

    The best analogy to explain how this works in practice involves Google Docs. Imagine a document that’s shared with a group of collaborators. Everyone has access to the same document, and each collaborator can see the edits other collaborators have made. If anyone makes an edit that the other collaborators don’t approve of, they can roll it back.

    Going back to Bitcoin, the virtual currency primarily validates transactions through proof of work. Also known as Bitcoin mining, this competitive and incredibly resource-intensive process is the means by which new Bitcoins are generated.

    How it works is deceptively simple. Each Bitcoin transaction adds a new ‘block’ to the ledger, identified by a 64-digit encrypted hexadecimal number known as a hash. Each block uses the block immediately preceding it to generate its hash, creating a ledger that theoretically cannot be tampered with. Bitcoin miners collectively attempt to guess the encrypted hex code for each new block — whoever correctly identifies the hash then validates the transaction and receives a small amount of Bitcoins as a reward.

    From an investment perspective, Bitcoin toes the line between being a medium of exchange and a speculative digital asset. It also lacks any central governing body to regulate its distribution. As one might expect, these factors together make Bitcoin quite volatile, and therefore somewhat risky as an investment target.

    As for the source of this volatility, Bitcoin’s value is primarily influenced by five factors.

    1. Supply and demand

    It’s widely known that no more than 21 million Bitcoins can be produced, and that’s unlikely to happen before 2140.

    Only a certain number of Bitcoins are released each year, and this rate is reduced every four years by halving the reward for Bitcoin mining. The last of these ‘halvings’ occurred in April 2024 and the next one is due sometime in 2028. When it happens, there may be a significant increase in Bitcoin demand, largely driven by media coverage and investor interest.

    Bitcoin demand is also strengthening in countries experiencing currency devaluation and high inflation.

    It would be remiss not to mention that Bitcoin represents an ideal mechanism for supporting illicit activities — meaning that increasing cybercrime could itself be a demand driver.

    2. Production costs

    It’s said that Bitcoin benefits from minimal production costs. This isn’t exactly true, however. Solving even a single hash requires immense processing power, and it’s believed that crypto mining collectively uses more electricity than some small countries. It’s also believed that miners were largely responsible for the chip shortage experienced throughout the pandemic due to buying and burning out vast quantities of graphics cards.

    These costs together have only a minimal influence on Bitcoin’s overall value. The complexity of Bitcoin’s hashing algorithms and the fact that they can vary wildly in complexity are far more impactful.

    3. Competition

    Bitcoin’s cryptocurrency market share has sharply declined over the years. In 2017, it maintained a market share of over 80 percent. Bitcoin’s current market share is just over 60 percent.

    Despite that fall, Bitcoin remains the dominant force in the cryptocurrency market and is the marker by which many other cryptocurrencies determine their value. However, there is no guarantee that this will always remain the case. There are now scores of Bitcoin alternatives, known collectively as altcoins, which you can learn more about here.

    The most significant alternative to Bitcoin is Ethereum. Currently accounting for roughly 10 percent of the crypto market, Ethereum has long maintained its position as the second largest cryptocurrency. Some experts have suggested that Ethereum may even overtake Bitcoin, but others don’t see that as a possibility in the near future.

    4. Regulations

    Bitcoin may itself be unregulated, but it is not immune to the effects of government legislation. For instance, China’s 2021 ban of the cryptocurrency caused a sharp price drop, though it quickly rallied in the following months. The European Union has also attempted to ban Bitcoin in the past, and Nic Carter, a partner at Castle Venture, accused the US of trying to do the same in February 2023.

    There has been plenty of discussion surrounding the role of the US Securities and Exchange Commission (SEC) in regulating Bitcoin and other crypto as investment assets. The US made progress in establishing crypto legislation in 2024 when the House passed the Financial Innovation and Technology for the 21st Century (FIT21) Act in a bipartisan 279 to 136 vote on May 22 of last year. While that act has yet to make further progress, the new Trump administration has already loosened some crypto regulation with regards to crypto reporting for banks and decentralized finance businesses.

    5. Public interest and media coverage

    As with any speculative commodity, Bitcoin is greatly influenced by the court of public opinion.

    Perhaps the best example of this occurred in 2021. At that time, a tweet from Tesla’s (NASDAQ:TSLA) Elon Musk caused Bitcoin’s price to drop by 30 percent in a single day. This also wiped about US$365 billion off the cryptocurrency market.

    A more recent example occurred on January 9, 2024, leading up to the deadline for eight spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC). In a since-deleted post on X, formerly known as Twitter, a hacker falsely stated that the SEC had approved all eight pending Bitcoin ETFs. This caused the price of Bitcoin to spike to US$48,000, but it quickly dropped back down to around US$46,000 after the SEC confirmed it was a hack, leading some analysts to consider it a ‘sell-the-news’ event.

    Is now a good time to buy Bitcoin?

    The current US administration is crypto friendly, and Bitcoin and altcoins are seeing support in 2025. Could they go even higher, or should you wait for a dip to buy? Bitcoin is notoriously volatile, which can make it difficult to judge where the crypto is going next, but there are several strategies to help investors decide when to invest.

    To determine if it is a good time to invest in Bitcoin, investors should pay attention to the market and listen to the experts, as generally speaking, Bitcoin’s price action is sentiment-driven. To keep on top of big news in the sector, follow our frequent Crypto Market Updates, which drop several times a week.

    There are also different technical indicators that crypto traders use to help them decide if now is the time to buy or sell Bitcoin. We run through some popular indicators below.

    For example, the Relative Strength Index (RSI) is a technical indicator used to gauge the momentum of a cryptocurrency’s price. It fluctuates on a scale from 0 to 100. By analyzing the magnitude of recent price changes relative to the previous 12-month period, the RSI helps traders identify whether a cryptocurrency is potentially overbought or oversold. An RSI above 70 often signals an overbought market, while an RSI below 30 suggests an oversold market.

    Another metric to consider is the MVRV Z-score, calculated by subtracting the ‘realized’ value of Bitcoin, which is an average of the prices at which each Bitcoin was last moved, from the current market value. This is then divided by the standard deviation of the Bitcoin market cap.

    This indicator helps identify when market value deviates strongly from realized value, which could show the market is at a turning point. A score above 7 likely indicates that Bitcoin is overvalued, meaning it could be due for a correction, while a score below 0 suggests that Bitcoin is undervalued, meaning it could be a good buying opportunity.

    Finally, to gauge the overall market sentiment, investors can look at the Fear & Greed Index. This index provides a snapshot of how optimistic or fearful the market is about Bitcoin, with high readings potentially signaling overenthusiasm and a possible correction.

    While it’s useful to learn these technical indicators to help you trade, it is important to remember that there’s no such thing as a guaranteed investment, especially when it comes to cryptocurrencies. On the one hand, there’s virtually no chance that Bitcoin will experience a crash to zero. On the other hand, we also cannot take for granted that its value will continue to climb.

    What is Bitcoin’s long-term price outlook?

    For those considering Bitcoin as a long-term investment, it’s worth considering experts’ thoughts on Bitcoin in the future.

    Veteran analyst Peter Brandt said in February 2024 that if Bitcoin could break past its previous high, the cryptocurrency could easily reach a new record of US$200,000 by September 2025.

    Only two weeks after the interview, Bitcoin surpassed the US$72,000 mark in the early hours of March 11. On December 4, one month after the US presidential election, Bitcoin reached US$100,000 for the first time, an elusive target it has surpassed a handful of times since.

    Not everyone is so optimistic about Bitcoin’s prospects. Pav Hundal, lead market analyst at Swyftx, has expressed concerns about Bitcoin’s future in the context of continued geopolitical upheaval and economic uncertainty.

    Billionaire investor Warren Buffet, meanwhile, has not minced words regarding his opinion on Bitcoin and its future. According to Buffet, Bitcoin is an unproductive asset with no unique value. He also feels that it doesn’t count as a true currency — in fact, he called it “rat poison.” Moreover, he believes that the crypto market as a whole will end badly.

    Regardless of whether you believe Bitcoin’s proponents or naysayers, it’s clear that it has some incredibly prominent backers in both the investment world and the wider business landscape. Business analytics platform Strategy (NASDAQ:MSTR) is by far the largest public company in the Bitcoin space, with 568,840 Bitcoin to its name as of May 13, 2025. The next three public companies with the largest Bitcoin holdings are Marathon Digital Holdings (NASDAQ:MARA) with 48,237 Bitcoin, Riot Platforms (NASDAQ:RIOT) with 19,211, Tesla with 11,509 and Hut 8 (NASDAQ:HUT) with 10,264.

    The US, China and the United Kingdom hold the top three spots for countries with the most Bitcoin holdings, with 207,189, 194,000 and 61,000 Bitcoin respectively at that time.

    There are also plenty of individuals with large holdings, the most significant of which is believed to be Bitcoin’s creator, Satoshi Nakamoto. Other prominent names include Michael Saylor, Cameron and Tyler Winklevoss and Tim Draper.

    How to smartly invest in Bitcoin?

    To help increase the odds of crypto being a good investment, investors in the Bitcoin market should learn the basics of safely investing in Bitcoin.

    How to buy Bitcoin

    The good news is that investing in Bitcoin is actually quite simple. If you’re purchasing through a stockbroker, it’s a similar process to buying shares of a company. Otherwise, you may need to gather your personal information and bank account details. It’s recommended to secure your network with a VPN prior to performing any Bitcoin transactions.

    The first step in purchasing Bitcoin is to join an exchange. Coinbase Global (NASDAQ:COIN) is one of the most popular, but there’s also Kraken and Bybit. If you’re an advanced trader outside the US, you might consider Bitfinex.

    Once you’ve chosen an exchange, you’ll need a crypto wallet. Many first-time investors choose a software-based or ‘hot’ wallet either maintained by their chosen crypto exchange or operated by a service provider. While simpler to set up and more convenient overall, hot wallets tend to be less secure as they can be compromised by data breaches.

    Another option is a ‘cold’ wallet — a specialized piece of hardware specifically designed to store cryptocurrency. It’s basically a purpose-built flash drive. If you plan to invest large amounts in crypto, a cold wallet is the better option.

    Once you’ve acquired and configured your wallet, you may choose to connect either the wallet or your crypto exchange account to your bank account. This is not strictly necessary, and some seasoned investors don’t bother to do this.

    Finally, with your wallet fully configured and your exchange account set up, it’s time to place your order.

    Best practices for investing in Bitcoin

    The most important thing to remember about Bitcoin is that it is a high-risk asset. Treat Bitcoin as a means of slowly growing your existing wealth rather than an all-or-nothing gamble, and never invest money that you aren’t willing to lose..

    As with other investments, it’s important to hedge your portfolio. Alongside Bitcoin, you may want to consider investing in other cryptocurrencies like Ethereum, or perhaps an altcoin. You may also want to explore other blockchain-based investments, given that even the most stable cryptocurrencies tend to be fairly volatile.

    It’s also key to ignore the hype surrounding cryptocurrencies. Recall how many people whipped themselves into a frenzy over non-fungible tokens in 2022. More than 95 percent of the NFTs created during that time are now worthless.

    Make decisions based on your own market research and advice from trusted — and more importantly, certified — professionals. If you’re putting up investment capital based on an influencer’s tweets, you are playing with fire.

    You should also start small. A good rule of thumb is not to dedicate more than 10 percent of your overall capital to cryptocurrency. Even that number could be high — again, it’s all about moderation.

    Make sure to prioritize cybersecurity as well. Cryptocurrencies are an immensely popular target for cybercriminals. In addition to maintaining a cold wallet, make sure you practice proper security hygiene. That means using a VPN and a password manager while also exercising mindfulness in how you browse the web and what you download.

    Finally, make an effort to understand what cryptocurrencies are and how they work. One of the reasons Sam Bankman-Fried was able to run FTX as long as he did was because many of his investors didn’t fully understand what they were putting their money into. Don’t let yourself be fooled by buzzwords or lofty promises about Web3 and the metaverse.

    Do your research into the technology behind it all. That way, you’ll be far better equipped to recognize when something is a sound investment versus a bottomless money pit.

    Indirect crypto investing

    Given Bitcoin’s volatility, it’s understandable that you might be leery of making a direct investment. The good news is that you don’t have to. You can indirectly invest into the crypto space through mutual funds, stocks and ETFs.

    ETFs are a popular and flexible portfolio choice that allows investors to benefit from a sector’s performance without the need to directly own individual stocks or assets. They are an especially appealing option in the cryptocurrency market as the technical aspects of purchasing and holding these coins can be confusing and intimidating for the less technologically inclined.

    Bitcoin futures ETFs provide exposure to the cryptocurrency’s price moves using Bitcoin futures contracts, which stipulate that two parties will exchange a specific amount of Bitcoins for a particular price on a predetermined date.

    Conversely, spot Bitcoin ETFs aim to track the price of Bitcoin, and they do so by holding the asset. Spot Bitcoin ETFs have been offered to Canadians since 2021, and there are now 13 Canadian cryptocurrency ETFs you can buy. Spot Bitcoin ETFs began trading in the US on January 11, 2024. For investors interested in blockchain technology, there are also several blockchain ETFs.

    Do a bit of research and touch base with your stockbroker or financial advisor before you go in this direction.

    Investor takeaway

    Bitcoin is a fascinating asset. Simultaneously a transactional tool and a speculative commodity, it’s attracted the attention of investors almost since it first hit the market. Unfortunately, it’s also incredibly volatile.

    For that reason, while current market conditions are favorable for anyone considering buying Bitcoin, it is an asset you should purchase only at your own risk. Because while Bitcoin may have the potential for significant returns, you may also lose most of your investment. If that knowledge doesn’t bother you, then by all means, purchase away.

    Otherwise, there are better — less volatile — options for your capital.

    FAQs for buying Bitcoin

    What does Cathie Wood say about Bitcoin?

    ARK Invest CEO Cathie Wood is extremely bullish on Bitcoin, telling Bloomberg in February 2023 that her firm believes the cryptocurrency could reach a value of US$1 million by 2030. A year later, Wood hiked her 2030 bitcoin price prediction astronomically to US$75 trillion.

    Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

    This post appeared first on investingnews.com

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    Microsoft to cut 3% of its workforce

    2 Mins Read

    Microsoft on Tuesday said that it’s laying off 3% of employees across all levels, teams and geographies.

    “We continue to implement organizational changes necessary to best position the company for success in a dynamic marketplace,” a Microsoft spokesperson said in a statement to CNBC.

    The company reported better-than-expected results, with $25.8 billion in quarterly net income, and an upbeat forecast in late April.

    Microsoft had 228,000 employees worldwide at the end of June, meaning that the move will affect thousands of employees.

    It’s likely Microsoft’s largest round of layoffs since the elimination of 10,000 roles in 2023. In January the company announced a small round of layoffs that were performance-based. These new job cuts are not related to performance, the spokesperson said.

    One objective is to reduce layers of management, the spokesperson said. In January Amazon announced that it was getting rid of some employees after noticing “unnecessary layers” in its organization.

    Last week cybersecurity software provider CrowdStrike announced it would lay off 5% of its workforce.

    In January, Microsoft CEO Satya Nadella told analysts that the company would make sales execution changes that led to lower growth than expected in Azure cloud revenue that wasn’t tied to artificial intelligence. Performance in AI cloud growth outdid internal projections.

    “How do you really tweak the incentives, go-to-market?” Nadella said. “At a time of platform shifts, you kind of want to make sure you lean into even the new design wins, and you just don’t keep doing the stuff that you did in the previous generation.”

    On Monday, Microsoft shares stopped trading at $449.26, the highest price so far this year. They closed at a record $467.56 last July.

    This post appeared first on NBC NEWS

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    Trump continues to defend Qatar gifting US $400M jet: ‘We should have the most impressive plane’

    2 Mins Read

    President Donald Trump continued to defend his decision to accept a $400 million jet from Qatar during an exclusive interview with Sean Hannity on Air Force One on Tuesday.

    Trump has received backlash for planning to accept the jumbo Boeing 747-8 jet from the Qatari royal family since news of the gift broke on Sunday.

    ‘Now, some people say, ‘oh, you shouldn’t accept gifts for the country.’ My attitude is, why wouldn’t I accept the gift? We’re giving to everybody else? Why wouldn’t I accept the gift?’ the president said to Hannity.

     

    The luxury jet, which was offered to the United States because of delays in Boeing’s production of the new Air Force One fleet, will serve as a temporary method of transportation so that the current presidential plane doesn’t have to be flown. 

    Trump has said AF1 is nearly 40 years old and looks ‘much less impressive’ when compared to the planes in Saudi Arabia, the UAE and Qatar.

    ‘You know, we’re the United States of America. I believe that we should have the most impressive plane,’ Trump told Hannity.

     

    In addition to Boeing running behind on delivering the new fleet, the jumbo jet is a gift to the Department of Defense for ‘a job well done’ in successfully defending Qatar ‘for many years,’ Trump added on Truth Social a few hours after the interview.

    ‘Why should our military, and therefore our taxpayers, be forced to pay hundreds of millions of Dollars when they can get it for FREE from a country that wants to reward us for a job well done,’ he wrote.

    Trump has said the plane will be retired to the presidential library once Boeing delivers its new AF1 fleet.

    The president will be in Qatar on Wednesday for the next stop of his three-day visit to the Middle East, marking his first major international trip of his second term. 

    He spent Tuesday in Saudi Arabia meeting with Crown Prince Mohammed bin Salman.

    This post appeared first on FOX NEWS

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    US-China trade truce lifts China’s economic outlook and equities: these Chinese stocks could benefit

    4 Mins Read

    Asian equities climbed sharply on Tuesday, extending a global rally after the United States and China agreed to pause their trade war for at least 90 days.

    Japan’s Nikkei jumped 2% to reach its highest level since February 25, while Taiwan’s tech-heavy index also gained 2 per cent.

    Chinese shares moved higher in early trading, and the MSCI’s broadest index of Asia-Pacific shares outside Japan touched a six-month peak.

    On Wall Street, the S&P 500 advanced over 3 per cent and the Nasdaq surged 4.3 per cent, driven by gains in technology and consumer stocks.

    The rally followed news that the US would reduce its baseline tariff rate on most Chinese imports to 30% from 145%.

    China responded by slashing its own tariffs to 10% from 125%.

    A separate White House order also cut the “de minimis” tariff on shipments from China to 54% from 120%, effective May 14, while maintaining a $100 flat fee.

    Firms revise outlook for China’s economy

    The trade reprieve has prompted several institutions to revise their outlooks for China’s economy.

    UBS said in a note that China’s GDP growth in 2025 could reach between 3.7% and 4%, up from a prior estimate of 3.4%, citing a “smaller shock” to trade-related activity.

    Morgan Stanley has also upgraded its near-term GDP forecasts for China.

    The bank expects second-quarter growth to exceed its current 4.5% projection, driven by front-loaded exports as companies look to benefit from the reduced tariffs.

    Third-quarter growth could also display temporary resilience, now expected to come in above 4%.

    Nomura has upgraded Chinese equities to “tactical Overweight” and shifted some of its allocation from India into China.

    Citi, meanwhile, lifted its target for the Hang Seng Index to 25,000 by year-end, with a forecast of 26,000 by mid-2026.

    Baidu, Tencent, TSMC among technology, consumer and internet stocks in focus

    The sectors expected to benefit the most from the trade truce include technology, consumer, and communication services, according to several analysts.

    Citi strategist Pierre Lau, while remaining cautious on exporters, also prefers domestic-facing sectors, especially consumer and technology.

    Morningstar’s Kai Wang said the current recovery may come faster than the last trade war cycle, which saw markets bounce back within a month of tariff relief.

    Wang cited Baidu, Tencent and NetEase as attractive picks in China’s communication services sector.

    Baidu and Tencent stand out for their investment in artificial intelligence, while NetEase offers exposure to the growing domestic gaming market.

    He also highlighted TSMC as a key beneficiary due to its dominant position in advanced semiconductor manufacturing.

    Citi Research flagged sectors highly sensitive to tariff changes, including communications infrastructure, tech hardware, and solar equipment.

    Companies such as Innolight, JCET, Eoptolink, TFC Optical and JA Solar generate a large portion of their revenues from the US, making them likely beneficiaries of easing trade friction.

    Citi is overweight on internet, technology, and consumer sectors, with top picks including Tencent, BYD, AIA, Huaneng Power, Atour and Anta.

    The bank also prefers Hong Kong-listed H-shares over mainland A-shares, expecting US rate cuts to support the Hong Kong dollar.

    Citi also upgraded PDD Holdings to “Buy,” viewing the trade truce as a boost for its Temu cross-border platform.

    The firm expects improved profits in the second quarter as sellers benefit from preloaded inventory and better pricing leverage.

    ETFs offer exposure, with caveats

    Investors seeking broader exposure to Chinese markets without taking single-stock risk may consider exchange-traded funds such as the KraneShares CSI China Internet ETF (KWEB), iShares China Large-Cap ETF (FXI), and Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR).

    However, analysts caution that these funds are prone to sharp price swings, reflecting the volatile nature of Chinese equities.

    William Ma, chief investment officer of GROW Investment Group, said the rebound in Chinese stocks could mark the start of a sustained re-rating.

    “Policy easing and targeted consumption support from Beijing could deliver an additional boost,” he said, adding that valuations remain undemanding.

    Maybank’s CIO Eddy Loh echoed the view, highlighting opportunities in communication services and consumer discretionary stocks as markets reposition for a post-tariff landscape.

    The post US-China trade truce lifts China’s economic outlook and equities: these Chinese stocks could benefit appeared first on Invezz

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    Rae Copper Project delivers further high-grade mineralisation with 63m @ 2.23% Copper

    3 Mins Read

    White Cliff Minerals Limited (“WCN” or the “Company”) (ASX: WCN; OTCQB: WCMLF) is pleased to announce further assay results from the recent reverse circulation drilling campaign at the Company’s 100% owned Rae Copper Project in Nunavut, Canada.

    • Further assays from Danvers confirm a shallow, high grade copper system that remains open at depth and along strike
    • Drilling continues to prove, previously unknown and untested, extensions to high grade mineralisation
    • Highlights from DAN25002:
      • 63m @ 2.23% Cu & 7.1g/t silver (Ag) from 9.14m, including a high-grade intercept of 15m @ 5% Cu & 16.9g/t Ag from 18.29m
    • DAN25004 returned two significant copper intervals:
      • 38m @ 1% Cu & 1.89g/t Ag from 7.62m, and
      • 72m @ 1.08% Cu & 4.22g/t Ag from 62.48m, including a high-grade intercept of 14m @ 2.32% Cu from 106.68m
    • Pre collar drilling at Hulk is complete, ready for an upcoming diamond drilling campaign
    • The Company is advancing discussions with its contracting partners to undertake targeted airborne geophysical surveys at Danvers across the 9.1km target fault zone and to also utilise the proven down hole electromagnetic survey across the broader Rae project which will support and help target these future campaigns
    • Further assays to come pending release from the laboratory

    “Assays from Rae continue to exceed expectations: 175m @ 2.5% Cu, 58m @ 3.08% Cu, 52m @ 1.16% Cu and now further significant intercepts of 63m @ 2.23% Cu and 72m @ 1.08%. These high-grade intercepts from surface are rare in the exploration world as explorers over recent times have had to go deeper and deeper to identify additional copper resources.

    Being the first mover into this highly prospective location, after more than a decade of inactivity due to political constraints – securing the licences organically and now having undertaken our first drill program, positions us well both for future work programmes and facilitate further discoveries.

    We are not surprised by the increased attention into the broader region by many players. Infrastructure enhancements at Yellowknife and increased activity along the north-west passage provide far easier access than in previous decades when the last serious exploration was undertaken.

    More recently we have seen increased state and federal conversations around road and port infrastructure development in this area to support regional development. Logistics that will positively impact the Rae Project. Given the project area is less than 80km by road to the deep-water port of Kugluktuk, these results will surely focus the spotlight on the development opportunities and benefits to the local and regional stakeholders.

    The Rae Project area has the potential to help meet the global production void through proper systematic assessment of this underexplored copper landholding and we continue to look forward to updating shareholders with the next round of results as they come to hand over the coming weeks.”

    Troy Whittaker – Managing Director

    Click here for the full ASX Release

    This post appeared first on investingnews.com

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    Fortnite applies to launch on Apple’s App Store after Epic Games court win

    2 Mins Read

    Epic Games said on Friday that it submitted Fortnite to Apple’s App Store, the month after a judge ruled in favor of the game maker in a contempt ruling.

    Fortnite was booted from iPhones and Apple’s App Store in 2020, after Epic Games updated its software to link out to the company’s website and avoid Apple’s commissions. The move drew Apple’s anger, and kicked off a legal battle that has lasted for years.

    Last month’s ruling, a victory for Epic Games, said Apple was not allowed to charge a commission on link-outs or dictate if the links look like buttons, paving the way for Fortnite’s return.

    Apple could still reject Fortnite’s submission. An Apple representative did not respond to CNBC’s request for comment. Apple is appealing last month’s contempt ruling.

    The announcement by Epic Games is the latest salvo in the battle between it and Apple, which has taken place in courts and with regulators around the world since 2020. Epic Games also sued Google, which operates the Play Store for Android phones.

    Last month’s ruling has already shifted the economics of app development for iPhones.

    Apple takes between 15% and 30% of purchases made using its in-app payment system. Linking to the web avoids those fees. Apple briefly allowed link-outs under its system but would charge a 27% commission, before last month’s ruling.

    Developers including Amazon and Spotify have already updated their apps to avoid Apple’s commissions and direct customers to their own websites for payment.

    Before last month, Amazon’s Kindle app told users they could not purchase a book in the iPhone app. After a recent update, the app now shows an orange “Get Book” button that links to Amazon’s website.

    Fortnite has been available for iPhones in Europe since last year through Epic Games’ store. Third-party app stores are allowed in Europe under the Digital Markets Act. Users have also been able to play Fortnite on iPhones and iPads through cloud gaming services.

    This post appeared first on NBC NEWS

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    In Politics

    Trump targets massive investments in first Middle East trip

    5 Mins Read

    Former President Donald Trump is embarking this week on a high-stakes tour of the Persian Gulf region, targeting business deals and strategic partnerships with three oil-rich nations: Saudi Arabia, the United Arab Emirates and Qatar.

    The trip marks Trump’s first major foreign visit of his new term and comes as nuclear negotiations with Iran drag on and as war continues between Israel and the Palestinian terror organization, Hamas, in the Gaza Strip. While business is the official focus, the backdrop is anything but calm.

    White House press secretary Karoline Leavitt described the mission as part of Trump’s broader vision that ‘extremism is defeated [through] commerce and cultural exchanges.’

    Under President Joe Biden, U.S. relations with Gulf states cooled, particularly after Biden vowed to make Saudi Crown Prince Mohammed bin Salman a ‘pariah’ over the 2018 killing of journalist Jamal Khashoggi. But Trump has reversed course, embracing a more transactional approach that has warmed ties with regional leaders.

    ‘The overall goal here is that the United States is reminding our Middle East allies that we’re here to stay,’ said Gregg Roman, executive director of the Middle East Forum. ‘We’re here to promote our joint interests rather than the abandonment policies under the previous administration.’

    Big money, big expectations

    Saudi Arabia has already pledged $600 billion in U.S. investments, spanning weapons purchases, technology transfers, artificial intelligence and the stock market. Trump has said he believes the Saudis may ultimately commit up to $1 trillion.

    While Saudi leaders aim to diversify their economy away from oil, those massive investments still depend on oil revenues, which could be threatened by Trump’s push to lower global energy prices.

    In addition to economic deals, Trump and bin Salman are expected to discuss a possible civil nuclear program and expanded defense cooperation. Such agreements were once linked to a potential Abraham Accords-style normalization between Saudi Arabia and Israel.

    But Riyadh has made clear it won’t recognize Israel unless Palestinian statehood is on the table, something Israeli Prime Minister Benjamin Netanyahu has staunchly opposed. No stop in Israel is scheduled during Trump’s tour.

    ‘Israeli normalization in any Saudi-U.S. project is an outdated option,’ said Saudi geopolitical analyst Salman Al-Ansari. ‘The second Trump administration is doubling down on its strategically autonomous Middle East policy.’

    In a possible goodwill gesture ahead of the trip, Hamas released Israeli-American hostage Edan Alexander, a move Trump called ‘monumental’ in the push to end the Gaza conflict.

    And as the UAE seeks to boost its ties with the U.S. and become a global AI leader by 2030, it’ll need American microchips. The UAE has gone even further than the Saudis, promising $1.4 trillion in U.S. investments over the next decade focused on AI, semiconductors, manufacturing and energy. 

    Biden had tightened curbs on AI exports to keep such technologies out of the hands of adversaries at a time when China drew closer to Middle Eastern states, especially the UAE. 

    On Thursday, the U.S. announced Trump would rescind the Biden-era restrictions. 

    Itinerary: Three days, three power centers

    Trump’s whirlwind Gulf visit begins Tuesday in Riyadh, Saudi Arabia, where he’ll headline the U.S.-Saudi Investment Forum alongside Saudi ministers, White House crypto czar David Sacks and other business leaders.

    On Wednesday, he’ll attend a Gulf Cooperation Council meeting before flying to Qatar for talks with Emir Tamim bin Hamad Al Thani and a visit to the U.S. military’s Al Udeid Air Base.

    Thursday’s final stop is Abu Dhabi, where Trump will meet UAE President Sheikh Mohammed bin Zayed Al Nahyan.

    The Qataris are pulling out all the stops to impress: They’ve offered Trump the use of a royal Boeing 747-8, typically reserved for the Qatari royal family, to serve as Air Force One.

    Since being named a major non-NATO ally by Biden in 2022, Qatar has deepened its ties with the U.S., hosting American troops and mediating sensitive negotiations, including ongoing back-channel talks between Israel and Gaza.

    Doha also maintains close contact with Syria’s new president, Ahmed al-Sharaa, who ousted Bashar al-Assad and is now seeking sanctions relief and normalized ties with the West.

    ‘Regional leaders will have an opportunity to address the situation directly with the president,’ said regional expert Jonathan Bass. ‘Trump is the only man that can lead the way.’

    Iran watching closely

    While a fourth round of Iran nuclear talks in Oman over the weekend failed to produce a breakthrough, Tehran is expected to keep a close eye on Trump’s Gulf meetings.

    Iranian Foreign Minister Abbas Araghchi made unannounced visits to both Saudi Arabia and Qatar ahead of Trump’s arrival, likely in hopes of passing messages through those governments to Washington.

    But all three of Trump’s host nations, Saudi Arabia, the UAE and Qatar, remain wary of Iran’s ambitions.

    ‘The region needs to openly address the problem of the IRGC,’ said Bass, referring to Iran’s elite Islamic Revolutionary Guard Corps. ‘The IRGC is trying to undermine every single country in the region.’

    This post appeared first on FOX NEWS

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    In Stocks

    Analysts are upbeat about AMD stock price: should you buy or sell?

    4 Mins Read

    AMD stock price has bounced back in the past few days as investors cheered the company’s upbeat financial results. It has also jumped as the market predicts that it will be the next big player in the artificial intelligence (AI) industry. It rose to a high of $102.85, its highest level since March 28, and 35% above the current level. 

    AMD earnings recap

    AMD and other semiconductor companies are facing a double-whammy: there is a risk that the AI bubble is bursting, and export controls from China. On the AI bubble, some companies like Microsoft have started to pause or end their data center expansion in key countries. 

    NVIDIA warned that export controls to China would have a $5.5 billion impact on its business. AMD also warned that limiting exports of key technologies to the second-biggest economy, would have a direct impact on its revenue.

    The company published its financial results last week, which showed it was continuing to gain market share in the data center industry. Its revenue rose to over $7.43 billion, up by about 36% from the same period last year. The figure was a big increase from the expected $7.35 billion. 

    AMD’s gross profit jumped by 46% to $3.73 billion as its gross margin jumped to 50% from 47% a year earlier. Most importantly, the net income jumped by 476% to $709 million, while the diluted EPS jumped by 526% to 44 cents. 

    This growth was mostly because AMD has become a major player in the data center industry, which has been growing in the past few months. Its data center GPUs have become the closest competitor to NVIDIA now that Intel’s business is struggling. 

    The data center business generated revenues of $3.67 billion in the first quarter, a 57% increase from the same period last year. 

    Most importantly, there are signs that the client and gaming, and embedded businesses that have struggled in the past have started to improve. The client and gaming segment made $2.9 billion, up by 28% from Q1’24, while the embedded revenue fell by just 3%.

    Analysts are upbeat about AMD 

    Wall Street analysts are upbeat about AMD’s performance in the coming quarters. The average estimate is that the company’s revenue will rise by about 26.80% in the first quarter to $7.4 billion. This forecast is in line with what the management guided as it expects its revenue to be minus or plus $300 million that level.

    The management expects that its gross margins will drop to 43% because of $800 million in charges related to Trump’s export curbs. Its gross margin would have continued rising to 54%, excluding these curbs.

    AMD tends to be highly conservative when it issues its forward guidance. As such, there is a likelihood that the company’s business will keep doing better than expected.

    The average AMD stock price forecast is $127, up from the current $102. Most analysts cite its growing market share in the AI industry and the fair valuation since it has a forward PE ratio of 25.45. 

    AMD stock price analysis

    AMD stock chart | Source: TradingView

    The daily chart shows that the AMD share price has rebounded from a low of $76.45 in April to $102.85 today. It has jumped above the crucial resistance level at $93.55, its lowest level in October 2023. 

    The stock has moved above the 50-day Exponential Moving Average, while the MACD indicator has moved above the zero line. Also, the Relative Strength Index (RSI) has jumped above the neutral point at 50.

    The outlook for the AMD stock price is bullish, with the next point to watch being at $122.10, the lowest swing in August last year, and 20% above the current level. A drop below the support at $93.5 will invalidate the bullish outlook.

    The post Analysts are upbeat about AMD stock price: should you buy or sell? appeared first on Invezz

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