News

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Thu, 20 May 2021 09:00:07 GMT

Ford Motor, SK Innovation to launch JV

Ford Motor and South Korea's battery manufacturer SK Innovation are planning to announce the US electric vehicle battery joint venture, Reuters reported on Thursday.

Thu, 20 May 2021 08:00:10 GMT

ByteDance founder to resign as CEO

The founder of ByteDance, Zhang Yiming, is set to step down from his chief executive role and will be replaced by Liang Rubo, the human resource chief, the company revealed on Thursday.

Thu, 20 May 2021 06:42:40 GMT

Cisco views Q2 profit below expectations

Cisco Systems is expecting its current-quarter profit to miss forecasts, anticipating the economy reopening will cool the pandemic-driven demand for its teleconferencing and networking tools, sending the firm's shares down 5%.

Thu, 20 May 2021 06:00:07 GMT

Target sees robust sales growth

Target Corp reported its quarterly sales surged around 23% and forecast booming demand through 2021, as consumers return to stores after a year of the pandemic-caused restrictions.

Thu, 20 May 2021 05:00:07 GMT

Apple makes $100M in fees from 'Fortnite'

Apple Inc made more than $100M in commission fees from "Fortnite" over the two years the online game was published on the App Store, the company's executive testified.

Thu, 20 May 2021 04:00:07 GMT

Squarespace gets $6.5B valuation

Squarespace Inc was valued at $6.5B in the company's market debut on Wednesday, as shares opened 4% lower than the reference price.

Thu, 20 May 2021 03:00:06 GMT

Deutsche Telekom in talks for T-Mobile stake

Deutsche Telekom was in negotiations over a potential deal for SoftBank Group's stake of 8.5% in T-Mobile US, which would provide the German telecom giant more control over the US affiliate.

Wed, 19 May 2021 20:56:12 GMT

BlackRock increases stake in SoftBank to 5.2%

BlackRock raised its stake in SoftBank Group to 5.2%, a filing revealed on Wednesday, as Japan's rules require stakes exceeding 5% to be disclosed.

Wed, 19 May 2021 20:00:09 GMT

TJ Maxx beats earnings forecast

The US retailer TJ Maxx revealed on Wednesday that the company had beat its quarterly earnings forecast, as shoppers had returned to stores.

Wed, 19 May 2021 19:00:08 GMT

Wells Fargo offers new crypto product

On Wednesday, Wells Fargo announced that it could offer an active cryptocurrency strategy for the bank's wealthier clients.

Wed, 19 May 2021 18:00:06 GMT

Airbus closes plant in Spain

Airbus announced on Wednesday that the company would close industrial production at its factory in Cadiz, in southern Spain.

Wed, 19 May 2021 17:00:07 GMT

Crypto market suffers losses

By the start of Wednesday's US trading hours, the global cryptocurrency market had erased almost $1 trillion in market capitalization.

Wed, 19 May 2021 16:00:08 GMT

Singapore Airlines posts loss

On Wednesday, Singapore Airlines announced a record annual loss of $3.2 billion. In addition, the company revealed that it would issue new bonds.

Wed, 19 May 2021 15:00:09 GMT

Wall Street opens lower

US stock indices started Wednesday's US trading with a decline, as a broad sell-off of all stocks was being attributed to fears of inflation.

Wed, 19 May 2021 14:00:06 GMT

ETH drops more than 20%

On Wednesday, the price for Ethereum dropped by more than 20%, as the government of China announced restrictions on crypto services.

Wed, 19 May 2021 13:00:08 GMT

JD.com tops market expectations

On Wednesday, China's JD.com reported its Q1 revenue topped Wall Street forecasts due to growth remaining strong in the local e-commerce sector after the COVID-19 pandemic.

Wed, 19 May 2021 12:19:22 GMT

Japan plans to raise spending

Japan announced its plans on Wednesday to boost its spending to promote the advanced semiconductor chips and batteries local production under the 2021 growth agenda, according to the Nikkei newspaper.

Wed, 19 May 2021 11:16:16 GMT

Pirelli unveils new FSC-certified tyres

On Wednesday, the Italian tyremaker Pirelli has unveiled the first FSC-certified tyres in the world for BMW's plug-in hybrid model X5 xDrive45e.

Wed, 19 May 2021 09:47:14 GMT

Chinese government bans crypto

On Wednesday, the government of China tightened the rules that do not allow payment companies and financial institutions in China to provide cryptocurrency related services.

Wed, 19 May 2021 09:00:09 GMT

Take-Two tops quarterly forecasts

Take-Two Interactive Software reported its quarterly sales and profit topped analysts' forecasts on the pandemic-driven higher demand for the company's "NBA 2K" and "Grand Theft Auto" popular franchises.

Wed, 19 May 2021 07:53:30 GMT

US, Mexico, Canada discuss trade deal

Trade ministers from Canada, Mexico and the United States discussed their new North American trade agreement and promised to fully enforce the deal's higher standards.

Wed, 19 May 2021 07:35:52 GMT

KKR to acquire UK's John Laing

On Wednesday, KKR, the private equity firm, announced it would acquire John Laing Group, the UK infrastructure investor, in a deal worth around £2.0B ($2.84B).

Wed, 19 May 2021 06:00:08 GMT

Macy's raises forecasts

Macy's, the US department chain, boosted its annual profit and sales outlook, as vaccinations encourage US citizens to in-store shopping as stores had been closed for over a year.

Wed, 19 May 2021 05:00:08 GMT

BOA to raise minimum wage to $25

On Tuesday, Bank of America announced plans to increase its hourly wage for workers in the United States to $25 by 2025.

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