News

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Wed, 28 Apr 2021 07:30:11 GMT

Sony posts surge in Q4 profit

On Wednesday, Sony Corp reported its Q4 operating profit doubled to 66.5B yen ($610.8M), compared with the last year's reading of 35.4B yenr, driven by higher demand for movies, gaming and other content.

Wed, 28 Apr 2021 05:00:08 GMT

US raises minimum wage for federal contractors

According to top White House officials, the US President Joe Biden has signed an executive order that increases the minimum wage for federal contract workers to $15 an hour.

Wed, 28 Apr 2021 04:00:07 GMT

Eli Lilly cuts 2021 earnings forecast

On Tuesday, Eli Lilly and Co reported lower than expected first-quarter profit, as the drugmaker slashed its earnings forecast for 2021.

Wed, 28 Apr 2021 03:00:09 GMT

OPEC+ to ease oil output cuts from May 1

According to sources with knowledge of the matter, OPEC+ has decided to stick to policies broadly agreed at the previous meeting to ease crude oil production cuts from May 1.

Wed, 28 Apr 2021 01:20:59 GMT

China probes Ant Group's listing process

As reported by the Wall Street Journal on Tuesday, the Chinese central government is investigating how the co-founder of Alibaba Group Jack Ma won speedy approvals for his Ant Group's IPO last year.

Tue, 27 Apr 2021 20:00:08 GMT

Russia fines Apple for app market dominance

Russia's Federal Antimonopoly Service fined the US tech giant Apple $12M for allegedly abusing the company's dominant position in the mobile applications market.

Tue, 27 Apr 2021 19:00:12 GMT

Arm announces new data centre chips

Arm Ltd, the UK chip technology company acquired by Nvidia, provided new details about the next generation of the data center technology, adding that Oracle and Alibaba Group will use its chips.

Tue, 27 Apr 2021 18:00:07 GMT

Spotify launces paid subscription platform

Spotify launched a paid subscription service for podcasters in the US and plans to add other regions in the following months, a week after Apple unveiled an identical service.

Tue, 27 Apr 2021 17:00:08 GMT

Toyota to buy Lyft self-driving unit

Toyota Motor is set to acquire Lyft's self-driving technology division for $550M, the companies announced, as the Japanese company steps up its automation plans.

Tue, 27 Apr 2021 16:00:08 GMT

UPS shares soar on record quarterly results

United Parcel Service reported a record quarterly profit and revenue on pandemic-fueled demand for deliveries and air transportation, sending its shares up 2.1% to $197.07 in premarket trading.

Tue, 27 Apr 2021 15:10:13 GMT

Mastercard to launch card with crypto reward

Mastercard and the US crypto exchange Gemini are set to launch this year the first card, which would give users digital currency rewards of up to 3% on purchases, in 2021.

Tue, 27 Apr 2021 12:52:33 GMT

Raytheon lifts sales forecast's lower end

Raytheon Technologies, the US aerospace manufacturer, has lifted its full-year sales outlook's lower end on Tuesday, boosted by the robust performance of the company's defence unit as well as commercial air travel's recovery.

Tue, 27 Apr 2021 12:48:11 GMT

GE posts 20% drop in Q1 profit

On Tuesday, General Electric reported a 20% plunge in its Q1 profit, tumbled by a decline in the aircraft engines demand as carriers struggle to recover following the pandemic.

Tue, 27 Apr 2021 12:00:08 GMT

3M tops profit forecasts

The US conglomerate 3M has topped Wall Street's expectations for its Q1 profit and revenue, boosted by growing demand for personal safety products during the pandemic.

Tue, 27 Apr 2021 11:24:59 GMT

Thoma Bravo to buy Proofpoint

Thoma Bravo, the private equity company, is set to acquire the cybersecurity firm Proofpoint in a $12.3B worth all-cash deal, amid rising demand for network security, as many people work remotely due to the pandemic.

Tue, 27 Apr 2021 10:23:08 GMT

Oil rebounds to $66 on Tuesday

On Tuesday, oil rose to $66 a barrel ahead of the OPEC+ meeting over oil production policy amid concerns that the coronavirus crisis in India could hit the fuel demand recovery.

Tue, 27 Apr 2021 09:00:08 GMT

Apple plans new campus

Apple is planning to build a new North Carolina campus, which would house up to 3K employees, and raise its spending goals with US suppliers.

Tue, 27 Apr 2021 07:52:23 GMT

VW Mexico sees production stoppages

Volkswagen's Mexico division is planning more of its output stoppages in May amid the global chip shortages, Germany's carmaker announced on Monday.

Tue, 27 Apr 2021 06:53:00 GMT

UBS posts 14% rise in Q1 profit

UBS reported on Tuesday its Q1 net profit rose as much as 14% due to surging client activity levels, however, marked its loss of $774M amid its debacle with the US investment company Archegos.

Tue, 27 Apr 2021 06:37:10 GMT

HSBC quarterly profit surges 79%

On Tuesday, HSBC Holdings reported better-than-anticipated quarterly profit and released $400M the company had set aside for covering the coronavirus-induced bad loans, amid successful launch of the COVID-19 vaccines.

Tue, 27 Apr 2021 05:00:06 GMT

Lyft sells tech to Toyota

On Monday, Lyft announced that it had sold its self-driving tech to Toyota for $550M US Dollars.

Tue, 27 Apr 2021 04:00:06 GMT

Tesla beats earning forecast

On Monday, the stock price of Tesla reacted to the higher than expected earnings of the company.

Mon, 26 Apr 2021 21:39:25 GMT

White House comments on capital gains

On Monday, the US government announced that its new capital gain tax would impact only 0.3% of US taxpayers.

Mon, 26 Apr 2021 21:30:21 GMT

US markets reach record high

During Monday's US trading hours, US stock indices reached a new record high, as Nasdaq and S&P 500 reached new high levels.

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