News Topic: Business brief
Soaring gold prices
NEWS SUMMARY Gold prices have reached record highs, signalling increased economic and geopolitical uncertainty, as investors tend to turn to gold as a safe-haven asset. The surge appears to be driven by factors such as the changing trade policies and tariffs, future interest rates and investor speculation. Market speculations often peak near major market tops, […]
Farewell to the penny
NEWS SUMMARY The US Mint has produced its last penny (1-cent coin). Pennies are no longer minted because producing them costs almost four times more than they’re worth. The coin itself has very little value and nothing can be bought for a penny anymore. However, since the penny is still legal tender, it will continue […]
The world’s first $5tn company
NEWS SUMMARY The US company Nvidia has become the first company with a market value of $5 trillion. Their chips (Graphic Processing Units) are the backbone of AI data centres around the world. Nvidia’s value now exceeds the GDP of nearly every country, except for the US and China. The second- and third- most valued […]
Shein to open first physical stores
NEWS SUMMARY Online, ultra fast-fashion retailer Shein has announced that it is going to open its first permanent physical stores next month. The shops will be located in several French cities. Shein said that they chose France because it’s an “influential global fashion market”. The idea has drawn criticism from many French people. Shein, founded […]
