News

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.

Wed, 26 May 2021 15:30:59 GMT

Facebook to allow hiding likes

Facebook's Instagram has rolled out an option for users worldwide to hide "Likes" on their posts, planning the further launch on Facebook following years of tests aimed at easing the pressure from their services.

Wed, 26 May 2021 14:23:31 GMT

Nasdaq seeks removing listing restriction

On Wednesday, Nasdaq called on US regulators to remove the restriction that limits the amount of money firms can attract via direct listings on the stock market exchange.

Wed, 26 May 2021 13:23:45 GMT

Capri Holdings sees further sales growth

On Wednesday, Michael Kors parent Capri Holdings is expecting its full-year profit and revenue to top Wall Street estimates, as shoppers to the US stores following the rapid vaccinations and the anticipated luxury goods demand in Europe.

Wed, 26 May 2021 12:16:51 GMT

Ford raises EV spending

On Wednesday, Ford Motor unveiled its plans to boost electric vehicle spending by over a third, aiming to have 40% of the global volume all-electric by 2030.

Wed, 26 May 2021 11:30:21 GMT

Xiaomi posts 55% jump in Q1 revenue

Xiaomi, the Chinese smartphone maker, reported a 55% surge in its Q1 revenue on Wednesday, beating analysts' forecasts, as it had nabbed a market share from Huawei Technologies, the one-time market leader.

Wed, 26 May 2021 09:50:01 GMT

M&S's full-year profit drops 88%

On Wednesday, the UK retailer Marks & Spencer posted an 88% drop in its annual profit, marking lower demand in clothing sales amid the COVID-19 restrictions.

Wed, 26 May 2021 09:30:27 GMT

China's Li Auto sees monthly sales higher

China's Li Auto, the electric carmaker, is expecting its sales to reach 10K vehicles a month starting from September and is planning its sales network expansion, executives stated on Wednesday.

Wed, 26 May 2021 08:00:10 GMT

Ford develops EV platforms

Ford Motor has followed its rivals Volkswagen, Tesla and General Motors with developing two electric vehicle platforms, where one is deemed for smaller sport-utility vehicles and cars and the other for full-size SUVs and trucks.

Wed, 26 May 2021 07:00:07 GMT

Tesla establishes car data storage

Tesla, the US electric carmaker, has set up a site located in China for car data local storage amid growing scrutiny on the carmakers over handling the data collected by vehicle sensors and cameras.

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