Key Points Saudi Arabia's current account balance is expected to turn negative, with a deficit of 0.1% of GDP in 2023 and 1.1% in 2025, averaging 2.9% from 2026-2029. The projected deficit is driven by declining oil prices and increased...
Key Points Barclays analysts downgraded Super Micro Computer shares to equal weight and revised their price target to $438 due to declining margins and customer losses. SMCI’s gross margins fell to 11.3% in the June quarter, with AI and DLC server margins particularly weak. Delays in financial reporting and past regulatory issues have raised governance...
Key Points CPSC Commissioners Peter Feldman and Douglas Dziak are calling for an investigation into Shein and Temu over selling unsafe baby and toddler products. The focus is on how these platforms comply with U.S. safety standards, manage third-party sellers, and represent imported goods. Shein and Temu use the de minimis rule to ship low-cost...
Key Points To enhance its AI-driven solutions, Salesforce is acquiring Tenyx, an AI-powered voice agent startup. The deal is expected to close in Q3 2024. Founded in 2022, Tenyx provides AI solutions to industries like e-commerce, healthcare, hospitality, and travel. Salesforce is resuming acquisitions to boost revenue growth, reversing a prior decision to limit acquisitions...
