Finance

Profits at Foxconn, formally known as Hon Hai Precision Industry, rose sharply in the first quarter as the Taiwanese electronics giant benefited from rising demand for server technology, although it fell short of expectations.

Net profit jumped 72% to NT$22.01 billion ($680 million). But the figure was lower than Bloomberg’s forecast of NT$29.1 billion.

Much of the quarterly jump in profit came from a lower base of comparison from last year, when the company faced a pronounced decline in demand for electronics.

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In late 2023 and early 2024, economists were under the impression that the U.S. economy was on track, with steady if unspectacular growth and cooling inflation that would allow the Fed to loosen its grip and even possibly lower interest rates. But over the past couple of months, expectations for such a “nirvana” have been revised.

Recent reports have pointed to the opposite: a so-called inflation boom, where economic growth remains strong but inflation accelerates again.

At the same time, the labor market remained stable, and the employment cost index, that is, an indicator of employee wage growth, was on the rise.

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Most Asian currencies were little changed on Tuesday, tracking a resilient dollar as traders largely focused on upcoming U.S. inflation data, which is likely to weigh on interest rate forecasts.

The Japanese yen was also in focus as persistent weakness in the currency left traders wary of possible government intervention.

Most regional currencies have suffered recent losses against the dollar as traders remain biased towards the greenback ahead of new US interest rate data.

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Shares of video game retailer GameStop rose more than 20% in over-the-counter trading, pointing to continued gains after the company’s shares soared to their highest since January 2021 on Monday.

The jump was driven by the first post in three years on X.com from Roaring Kitty, an account associated with financial market commentator and social media influencer Keith Gill. Gill, also known as “Deep F***ing Value” on the Reddit forum, has been one of the leaders in 2021’s trading frenzy in so-called “meme stocks” such as GameStop and movie theater chain AMC Entertainment (NYSE: AMC).

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Nowadays, more and more people are thinking about how they can diversify and increase their income beyond their main job. One of the most popular and effective ways to achieve this goal is through investments. In this article, we will look at a few strategies and tips on how you can make money from investments in addition to your main income.

Diversify your investment portfolio:
One of the key principles of successful investing is diversification. This means that you should invest in different types of assets such as stocks, bonds, real estate, etc. This helps to reduce risk and increase the potential returns of your portfolio.

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