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A worker counts Bulgarian Lev banknotes at a store in Sofia, Bulgaria, on Friday, March 29, 2024.Oliver Bunic/Bloomberg via Getty ImagesBulgaria on Wednesday secured the green light to join the euro zone, meaning the bloc could soon grow from 20 to 21 members.The European Commission and European Central Bank both assessed that the country met the requirements to adopt the single currency starting next year.”This positive assessment of convergence paves the way for Bulgaria to introduce the euro as of 1 January 2026 and become the 21st EU Member State to join the euro area,” Philip Lane, member of the ECB…

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The Apple store on 5th Avenue is seen in New York on April 8, 2025. Timothy A. Clary | Afp | Getty ImagesForecasts for Apple and Samsung shipment growth this year were sharply slashed by Counterpoint Research on Wednesday amid uncertainty over U.S. tariff policy.The research outfit said it had revised down its 2025 global smartphone shipment growth forecast to 1.9% year-on-year from 4.2% previously, citing “renewed uncertainties surrounding U.S. tariffs.”U.S. President Donald Trump announced “reciprocal tariffs” on imports from countries around the world in April, but exempted smartphones and other electronics from those duties days later.Still, with tariff uncertainty looming,…

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UBS singled out Snowflake as a potential beneficiary of the artificial intelligence trend. The bank updated the cloud-based data storage to buy from neutral. Analyst Karl Keirstead also raised his 12-month price target to $265 from $210, signaling upside of 27% from Tuesday’s close. Despite shares of Snowflake rallying 35% this year, Keirstead said that “it’s not too late to get more constructive.” SNOW YTD mountain SNOW YTD chart “We’re becoming increasingly confident in the prospect that we’re just a few quarters into what could prove to be a multi-year enterprise investment cycle in the data layer, based on industry…

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Apple’s valuation is starting to look expensive, and investors should steer clear, according to Needham. The investment firm downgraded the iPhone maker and “Magnificent Seven” stock to hold from buy. Analyst Laura Martin also removed her $225 price target — which implied upside of 10.7%. “We move to the sidelines for AAPL owing to its expensive relative valuation, increasing fundamental growth headwinds, and rising competitive threats,” she wrote. “We believe that, for AAPL shares to work, they must have the catalyst of an iPhone replacement cycle, which we do not foresee in the next 12 months. Until then, we believe…

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Speaker of the House Mike Johnson, R-La., speaks to the media after the House narrowly passed a bill forwarding President Donald Trump’s agenda at the Capitol on May 22, 2025.Kevin Dietsch | Getty ImagesAs Senate Republicans debate trillions of tax breaks advanced by the House, some business owners could be blocked from part of the proposed windfall, policy experts say.If enacted as written, the House GOP’s “One Big Beautiful Bill Act” would raise the federal deduction limit for state and local taxes, known as SALT, to $40,000. That would phase out once income exceeds $500,000.The bill would also boost a…

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Wedbush tech analyst Dan Ives is putting his theory of the artificial intelligence boom to the test with a new fund that will allow his audience to follow along and invest in his favorite ideas. The Dan Ives Wedbush AI Revolution ETF is set to begin trading on Wednesday under the ticker “IVES.” The fund will track an index that consists of the companies from Wedbush’s Ives AI 30 research list. “It’s based on our research. So as new companies come in, then some companies could come out. This is a living organism, in terms of this AI 30. It’s…

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Vehicles are offered for sale at a Nissan dealership on December 18, 2024 in Libertyville, Illinois. Scott Olson | Getty ImagesNissan CEO Ivan Espinosa on Wednesday said the short-term focus is to fix the struggling automaker, as it seeks to get back on a solid footing.”I think in the short term, the focus that we have is to fix ourselves the company,” Espinosa told CNBC’s “Squawk Box Europe.””We are convinced that the plan is enough and robust,” he added.This is breaking news. Please refresh for updates. Source link

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A projected illumination marking the 75th anniversary of the Schuman Declaration, on the Grossmarkthalle building at the European Central Bank headquarters in Frankfurt, Germany, on May 9, 2025.Alex Kraus/Bloomberg via Getty ImagesThe European Central Bank is all but guaranteed to trim its key interest rate on Thursday.Markets were last pricing in an around 99% chance of a 25-basis-point cut, according to LSEG data. That would take the deposit facility rate to 2% — half of the mid-2023 high of 4%.But Europe faces a highly uncertain economic outlook, raising the question of what the ECB could do beyond Thursday’s meeting.Inflation is…

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A humanoid robot from UBTech moves a load onto an automated guided vehicle (AGV) in an electric car factory for Geely-backed Zeekr on Aug. 5, 2024, in Ningbo, Zhejiang province of China. Vcg | Visual China Group | Getty ImagesThis report is from this week’s edition of CNBC’s The China Connection newsletter, which brings you insights and analysis on what’s driving the world’s second-largest economy. Each week, we’ll explore the biggest business stories in China, give a lowdown on market moves and help you set up for the week ahead. Like what you see? You can subscribe here.The big storyTariffs reminded…

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Jerome Powell, chair of the U.S. Federal Reserve, during the Society For Advancing Business Editing and Writing annual conference in Arlington, Virginia, on April 4, 2025.Tierney L. Cross | Bloomberg | Getty ImagesFederal Reserve Chairman Jerome Powell told Princeton graduates to “guard” their integrity amid a flurry of criticism from U.S. President Donald Trump.Powell addressed Princeton’s Class of 2025 on May 25 and shared a series of advice including the biggest career mistakes graduates can make and, toward the end of his speech, he encouraged graduates to maintain their honor and respect.”I have one last key point. Your life matters,…

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