Stock trading platform eToro made a robust debut on Nasdaq, with its shares surging 34% above their IPO price at opening and closing the day nearly 29% higher at $67. The IPO raised nearly $310 million, with eToro selling close to six million shares at $52 each — higher than the expected range of $46…
Trade Deadlock with China Pushes U.S. Soybean Farmers Toward Steep Export Decline
U.S. soybean exports may drop by as much as 20% if the ongoing trade conflict with China is not resolved, according to agribusiness consultancy AgResource. Despite a recently announced temporary truce, analysts argue that the reduced Chinese tariffs—from 145% to 10%—are still too high to make American soybeans competitive in the Chinese market. As China…
Trump vows to mandate that the U.S. match other countries’ prices for certain medications
President Donald Trump says he will sign an executive order on Monday that could lower the prices of certain medications, bringing back an idea he pushed during his first term, one he has been speaking about since before becoming president. The order Trump plans to sign will tell the Department of Health and Human Services…
Trump visits Gulf Arab nations amid ongoing crises in Gaza and Iran
During his current visit to the Middle East, U.S. President Donald Trump is stopping in Saudi Arabia, Qatar, and the United Arab Emirates. However, the more serious regional issues involve two different countries: Israel and Iran. Two months after a ceasefire ended, Israel has increased its military operations in the Gaza Strip. The blockade there…
S&P 500 Wipes Out 2025 Losses as Inflation Cools and U.S.-China Tariff Truce Lifts Market Sentiment
The S&P 500 has completely erased its losses for the year, marking a significant milestone in its recovery from near-bear market territory. After a turbulent start to the year, the index’s strong performance reflects renewed investor confidence, driven by easing macroeconomic pressures and improving trade relations. This rebound highlights the resilience of the broader market…
Chime Files for Nasdaq IPO, Betting on Fintech Momentum and Rising User Base Despite Profit Dip
Financial technology company Chime has filed to go public on the Nasdaq under the ticker symbol “CHYM.” The company emphasized in its prospectus that it is a tech firm and not a bank, noting it is not a member of the FDIC. Despite this, it sees traditional banking giants like JPMorgan Chase, Wells Fargo, and…
California Approves State Farm’s Emergency Rate Hike After Wildfires, Sparking Backlash From Survivors
State Farm has become the first insurance company in California to win approval for emergency interim rate hikes, starting June 1. The decision comes after the insurer cited financial distress from more than $7 billion in projected claims related to the January wildfires in Los Angeles County. The state’s Department of Insurance recommended the approval,…
April Inflation Slows to 2.3% as Tariff Impact Looms, Fed Rate Cuts Now Expected in Fall
In April, U.S. inflation came in slightly lower than expected, as the tariffs imposed by President Donald Trump began to affect the economy. According to the Labor Department’s report, the consumer price index (CPI) rose by 0.2% for the month, bringing the annual inflation rate down to 2.3%, its lowest level since February 2021. This…
UnitedHealth CEO Resigns Amid Stock Plunge, Legal Troubles, and Fallout from Former Executive’s Death
UnitedHealth Group has announced a sudden leadership change, naming a new chief executive after Andrew Witty’s unexpected resignation. Witty stepped down from his role for unspecified “personal reasons,” leaving a significant gap in the company’s top leadership. To fill this vacancy, Stephen J. Hemsley, who had previously served as UnitedHealth’s CEO from 2006 to 2017,…
Microsoft Lays Off 6,000 Employees as It Streamlines Operations Despite Strong Financial Performance
On Tuesday, Microsoft announced it is laying off 3% of its global workforce, amounting to approximately 6,000 employees across all levels, teams, and regions. The company emphasized that these layoffs are part of ongoing organizational changes aimed at positioning Microsoft for success in a rapidly changing marketplace. A Microsoft spokesperson clarified that the job cuts…