Author: Press Room

On the eve of last month’s launch of miHoYo’s latest online game, Honkai: Star Rail, employees at the Chinese gaming company worked late into the night. “Everyone was rushing to launch the product. The company has thrown a lot of resources at Honkai. It’s clear the intention is to make it at least as big as Genshin Impact and to make it the main title of the company,” said one employee drafted in to work on Honkai’s release. A space-travel anime game, Honkai: Star Rail is miHoYo’s second new title since the breakout success of Genshin Impact. How it performs will determine whether the Shanghai…

© Reuters. FILE PHOTO: A security fence surrounds the U.S. Capitol building ahead of the president’s State of the Union address and concern over possible protests in Washington, U.S., February 28, 2022. REUTERS/Leah Millis By Laura Matthews and Chibuike Oguh (Reuters) – Global investors are gaming out how a tentative deal to raise the United States debt ceiling could ripple through markets, as lawmakers strive to pass the agreement through Congress before a June 5 deadline. A deal to lift the $31.4 trillion debt limit announced by the White House and House Republicans late Saturday would avert a catastrophic U.S.…

© Reuters. FILE PHOTO: A K9 howitzer, delivered in the first batch of arms from South Korea under contracts signed in recent months, fires during a military drill at a military range in Wierzbiny near Orzysz, Poland, March 30, 2023. REUTERS/Kacper Pempel/File Photo By Joyce Lee and Josh Smith SEOUL (Reuters) – South Korea is using a $13.7 billion arms deal with Poland – Seoul’s biggest ever – to lay the groundwork for a military-industrial juggernaut that the two nations’ defence companies hope will feed Europe’s hunger for weapons far into the future. South Korea’s arms sales jumped to more…

Cardano tokens. Source: AdobeCardano founder Charles Hoskinson has shared an over-optimistic vision for the future of the proof-of-stake blockchain platform, claiming that it could climb to the top of the cryptocurrencies list soon. In a recent video, the crypto veteran talked about “Cardano Summer,” claiming that the blockchain’s native token ADA could surpass Bitcoin, Ethereum, and all other cryptocurrencies, thanks to a series of updates and proposals set to be released in the coming weeks. One of the most significant updates is the CIP-1694 proposal, which aims to revolutionize Cardano’s on-chain governance infrastructure and turn the network into a truly decentralized government.The…

President Biden and Speaker Kevin McCarthy on Saturday reached an agreement in principle to lift the debt limit for two years while cutting and capping some government spending over the same period, a breakthrough after a marathon set of crisis talks that has brought the nation within days of its first default in history.Congressional passage of the plan before June 5, when the Treasury is projected to exhaust its ability to pay its obligations, is not assured, particularly in the House, which plans to consider it on Wednesday. Republicans hold a narrow majority in the chamber, and right-wing lawmakers who…

AI, NVIDIA, technologygetty The soaring price action in NVIDIA DIA last week, based a good earnings report and on projections for the impact of artificial intelligence, is extraordinary. The stock climbed to a new all-time high as those money managers and retail investors who didn’t want to be left behind climbed on board. Is it now overvalued? NVIDIA is trading at a price-earnings ratio of 202 and at 43 times its book value. The price to sales ratio is 36 and price to free cash flow sits at 212. Those are not the type of metrics that Benjamin Graham would…

Economic Uncertainty sign against a stormy background with lightning and copy space. Dirty and … [+] angled sign adds to the drama.getty In 2022, most asset prices plunged together, leaving investors nowhere to hide, but in 2023, we have nearly the opposite. For example, the S&P 500 is up more than 7% year to date, while the tech-heavy Nasdaq Composite is up an impressive 20%. Meanwhile, the gold price is up by about $200 an ounce over the six months, and bond yields are ticking higher. Nonetheless, fears of a recession are very real and increasing among Americans, with more…

Accounting firms in the US are being urged to revamp their business models to attract more young people after the numbers taking exams to enter the profession plunged to the lowest level in at least 17 years.New figures from the American Institute of Certified Public Accountants showed the shortage of CPA candidates that has plagued the profession in recent years worsened in 2022, dashing hopes for a quick rebound from the pandemic.The shortage of new entrants comes at the same time as a wave of baby boomer retirements and threatens to weaken firms’ ability to perform the accounting, tax and…

© Reuters. FILE PHOTO: The Internal Revenue Service (IRS) building is seen in Washington, U.S. September 28, 2020. REUTERS/Erin Scott//File Photo WASHINGTON (Reuters) – The budget deal struck by President Joe Biden and House Speaker Kevin McCarthy to end a debt-limit crisis should not change the short-term abilities of tax collectors, according to White House officials. The deal would shift $10 billion each in fiscal years 2024 and 2025 in funding away the Internal Revenue Service, but officials believe the IRS can make due in the near term since they were funded over a 10-year period. They may need to…

© Reuters. FILE PHOTO: FTX and Temasek logos are seen in this illustration taken November 30, 2022. REUTERS/Dado Ruvic/Illustration By Urvi Manoj Dugar and Yantoultra Ngui (Reuters) -Singapore state investor Temasek Holdings said on Monday it had cut compensation for the team and senior management that recommended its investment in the now-bankrupt FTX cryptocurrency exchange. “Although there was no misconduct by the investment team in reaching their investment recommendation, the investment team and senior management, who are ultimately responsible for investment decisions made, took collective accountability and had their compensation reduced,” Temasek Chairman Lim Boon Heng said in a statement…