News

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Thu, 27 May 2021 20:29:13 GMT

Mexico economy contracts

The economy of Mexico contracted 3.6% in the first three months of 2021, compared to the same period in 2020, the National Institute of Statistics reports.

Thu, 27 May 2021 19:00:08 GMT

Global automakers set up China site to store data

On Thursday, Ford, Daimler and BMW announced that they have established a site in China to store car data locally.

Thu, 27 May 2021 18:00:06 GMT

US weekly unemployment claims hit 14-month low

As reported by the US Labor Department on Thursday, the number of Americans filing for new unemployment benefits declined by 38,000 to a seasonally adjusted 406,000 last week.

Thu, 27 May 2021 17:00:07 GMT

Dow, S&P 500 edge higher

Wall Street's main indexes edged higher on Thursday. At 9:43 a.m. ET, the Dow Jones Industrial Average was up by 259.35 points or 0.76%, while the S&P 500 inched higher by 14.50 points or 0.35%.

Thu, 27 May 2021 16:00:07 GMT

Hyundai to trim combustion engine line-up

Hyundai Motor Group will cut the combustion engine line-up, as part of its plan for further electric vehicle investment, the South Korean carmaker told Reuters.

Thu, 27 May 2021 15:00:07 GMT

Airbus raises jet production targets

On Thursday, Airbus has raised its jet output targets in a bet on the global aviation recovery, strengthening its position ahead of negotiations with suppliers over investment needed for aviation boost.

Thu, 27 May 2021 14:00:08 GMT

Boeing to pay $17M in penalties to FAA

Boeing is set to pay $17M in penalties in the Federal Aviation Administration settlement over its NG and 737 MAX jets, which had unapproved equipment installed.

Thu, 27 May 2021 13:01:50 GMT

HSBC withdraws US retail banking

On Thursday, HSBC announced it would exit from the loss-making US retail banking by selling its unprofitable business and shifting its focus to Asia, its largest market.

Thu, 27 May 2021 12:23:06 GMT

India's Paytm aims at $3B IPO

Paytm, the Indian fintech start-up, is targeting around 218B rupees ($3.0B) in its planned initial public offering late this year, according to a Bloomberg News report.

Thu, 27 May 2021 10:52:49 GMT

Foxconn plans stake buy in DNeX

Taiwanese company Foxconn Technology has entered talks to purchase a stake in Dagang NeXchange (DNeX),the Malaysian technology firm, after losing its bid for the DNeX-owned semiconductor maker, Bloomberg reports.

Thu, 27 May 2021 09:43:59 GMT

EasyJet founder's family gives away small stake

The UK airline easyJet founder's family has sold its small stake in the airline, cutting the Haji-Ioannou family's shares from 26.7% to 25.3%, according to a regulatory filing.

Thu, 27 May 2021 08:43:52 GMT

CBA introduces new app feature

On Thursday, Commonwealth Bank of Australia became the first lender among the country's "Big Four" to allow its customers to check other bank account balances via its app.

Thu, 27 May 2021 08:21:58 GMT

Lenovo's Q4 profit tops forecasts

On Thursday, China's Lenovo Group reported a 512% surge in its Q4 profit, beating expectations, on higher demand for the company's personal computers amid the pandemic.

Thu, 27 May 2021 06:41:06 GMT

Nvidia sees Q2 revenue above forecasts

Nvidia is expecting the current-quarter revenue to beat analysts' forecasts, betting on higher demand for the company's flagship artificial intelligence and gaming chips for data centres.

Thu, 27 May 2021 06:13:32 GMT

Abercrombie's Q1 sales surge

Abercrombie & Fitch reported a 61% surge in its Q1 sales, beating analysts' estimates, driven by the store openings as well as its boosted online business.

Thu, 27 May 2021 04:51:35 GMT

PayPal to allow withdrawals to crypto wallets

PayPal Holdings announced its plans to allow the platform's users to withdraw cryptocurrency to third party wallets.

Thu, 27 May 2021 04:28:29 GMT

ZipRecruiter gets $2.7B valuation

Online job marketplace ZipRecruiter was valued at $2.7B in its NYSE debut on Wednesday, as its shares grew more than 10% on investors' optimism about job growth.

Thu, 27 May 2021 03:28:02 GMT

Ford to spend $30B on EV development

Ford stated during an investor day that it will spend $30B on EV development, including battery development, by 2025.

Wed, 26 May 2021 20:50:36 GMT

Amazon to buy MGM for $8.5B

Amazon.com is set to buy MGM, the US movie studio, for $8.45B, giving it a large film and TV show library and increasing competition with streaming services, including Netflix.

Wed, 26 May 2021 20:32:16 GMT

Portugal gets 2.4B euro support

Portugal received over €2.41B from the European Union to mitigate unemployment risks amid the COVID-19 pandemic.

Wed, 26 May 2021 19:02:38 GMT

Wall Street's main indexes edge higher

On Wednesday, US stocks edged higher after remarks from the Federal Reserve. At 9:40 a.m. ET, the Dow Jones Industrial was up by 0.16%, the S&P 500 surged by 0.15% and the Nasdaq rose by 0.40%.

Wed, 26 May 2021 18:04:38 GMT

WhatsApp files lawsuit against Indian government

On Wednesday, WhatsApp sued the Indian government in a bid to stop the new rules that would require the company to trace users' encrypted messages.

Wed, 26 May 2021 17:02:13 GMT

Bitcoin climbs back above $40,000

Bitcoin, the largest cryptocurrency by market capitalization, edged higher as much as 6.5% to $40,904 on Wednesday.

Wed, 26 May 2021 16:02:18 GMT

Vision Fund 2 leads new investment

SoftBank Group's Vision Fund 2 led a $775M investment in Perch, the technology company that operates and acquires third-party brands, which offer their products on Amazon.com.

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