The dollar fell to its lowest point since February on Tuesday, marking yet another hurdle in the U.S. economy’s inflation battle. The relative strength or weakness of the U.S. dollar against other currencies has always created winners and losers. U.S. multinational companies, for example, have bemoaned the dollar’s strength in recent years, as it has made their goods pricier in foreign markets and has diminished their profits once converted into the U.S. currency. Read More...
Benzinga
Huawei Claims Breakthrough Despite Profit Decline
According to CNBC, Huawei Technologies reported its biggest profit decline ever last Friday. The Chinese giant blamed rising commodity prices, China’s strict pandemic controls, U.S. sanctions. However, it is important to note that comparison to 2021 is somewhat inadequate due to one-off gain related to the sale of its mid-range smartphone business. 2022 Figures During the earnings call, Eric Xu, rotating chairman, described last year as being shaped with a challenging external environment that c
