The United States surpassed China in the first quarter to become Germany’s largest trading partner. This is according to Reuters calculations based on data from the Federal Statistical Office. The value of Germany’s trade with the US, i.e. exports and imports combined, from January to March was 63 billion euros, while the value of trade with China was less than 60 billion euros. Partnership Last year, China became Germany’s most important trading partner for the eighth consecutive year. The total volume of trade amounted to 253 billion euros. However, the United States was only a few hundred m ..read more

May 7th 2024 – Tradersratings.com is excited to reveal the winners of the Best Customer Service Contest 2024. The top spot went to InvestingFox, renowned for their exceptional dedication to customer satisfaction. In second place is eToro, followed by Ozios in third. InvestingFox’s commitment to excellence sets a high standard, earning them the first-place position. eToro and Ozios also showcased outstanding customer service practices, securing their well-deserved spots in the top three. All top three winners will receive medals, symbolizing their dedication to excellence in customer service. T ..read more

Changpeng Zhao, founder and former CEO of cryptocurrency exchange Binance, has been sentenced to four months in prison for facilitating money laundering on the world’s largest cryptocurrency exchange. The AP reported this, citing the court’s decision. Prosecutors had originally sought 36 months for him. Confession Zhao pleaded guilty in November to failing to take the required anti-money laundering measures. He resigned from Binance’s board and the firm agreed to pay a $4.3 billion settlement. The prosecution alleged that Zhao deliberately looked the other way when people conducted transaction ..read more

The US semiconductor company Micron Technology will receive up to $6.14 billion from the government to build two chip factories in the United States. This was announced today by the White House. The deal is to help fund factories in the states of New York and Idaho. The money will be paid under the Chip and Science Act of 2022, which aims to boost domestic chip production and reduce dependence on supplies from China and Taiwan. A $100 Billion Investment The Commerce Department said Micron plans to invest about $100 billion in New York state and create 13,500 jobs there. The money from the stat ..read more

The United States has decided to renew sanctions against Venezuela’s oil sector over authoritarian ruler Nicolás Maduro’s restrictions on the opposition’s ability to run in presidential elections. World news agencies reported this today, citing a senior US government official. Washington is tightening sanctions six months after it eased some of the restrictions following Maduro’s agreement with the opposition. Company PDVSA U.S. companies and investors will again be banned from doing business or cooperating in any way with Venezuela’s state oil company PDVSA. According to the official, they wi ..read more

Shares of Trump Media & Technology Group (TMTG), which includes the Truth Social social network and in which former US President Donald Trump has a majority, debuted on the New York Stock Exchange with a strong rise. They gained as much as 45 percent on the Nasdaq market shortly after the opening bell, stock exchange records showed. TMTG entered the stock market through a merger with publicly traded firm Digital World Acquisition. Market Performance and Trump’s Stake TMTG’s share price rose above $72, bringing the firm’s market capitalisation to $9.84 billion, Reuters reported. Later, the ..read more

Strikes have caused Lufthansa to lose €250 million this year, the group’s chief financial officer Remco Steenbergen estimates. Reuters reported today. Strikes meant losses of customers as well “Due to numerous strikes – especially at Lufthansa airlines – we not only lost capacity for our customers in the first quarter, but also a triple-digit amount in millions of euros,” Steenbergen said in a statement to employees. In addition to direct losses of 100 million euros, there were also losses in passenger bookings and air travel orders as customers shunned the airline due to uncertainty over the ..read more

Inflation in Russia has already peaked, but its decline is not yet sufficient for the Russian central bank to start cutting interest rates. Reuters reports that Russian Central Bank Governor Elvira Nabiullina said this today in a speech to members of the State Duma, Russia’s lower house of parliament. Fighting inflation The central bank raised its key interest rate by a total of 8.5 percentage points in the second half of last year to fight inflation. According to a Reuters poll, analysts expect the bank to leave interest rates unchanged at 16 percent this month, as it did at the previous ..read more

Alphabet is one of the most influential companies in communication sector. But this is not the only reason why we have included this stock into our Global top 5 social media list. With its unprecedented reach of customers as a global leader in web search engine and owning second largest social medium – Youtube, it must be in search bar of all web and technology-oriented investors. In this analysis, we aim to examine this stock more deeply. What does Alphabet do? First of all, Alphabet is a holding company, meaning it mainly just owns company Google that we are all familiar with. However, the c ..read more

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, will hear his sentence in a multibillion-dollar embezzlement case in a Manhattan court today. At most, he could spend the next 50 years behind bars. A jury already found Bankman-Fried guilty last November of embezzlement in what authorities have called one of the biggest frauds in American history. At this point, according to media reports, it is clear that Bankman-Fried, who is appealing the verdict, will go to prison. However, Judge Lewis Kaplan will decide for how long. Avoiding responsibility The prosecution is propo ..read more