IBM to acquire Salesforce partner Waeg
IBM (IBM.N) said on Tuesday it would buy Waeg, a consulting partner for Salesforce (CRM.N), in a deal that will extend its range of services and support its hybrid cloud and artificial intelligence strategy.
Some big U.S. hedge funds loaded up on SPACS, value stocks during first quarter
A number of well-known U.S. hedge funds bought value stocks and blank-check acquisition companies, selling some winners from the technology-led stock rally as bond yields rose during the first quarter, filings released on Monday showed. Special-purpose acquisition companies, known as SPACs, proved popular among hedge fund managers, with funds such as Third Point and Saschem […]
China’s Baidu posts 25% rise quarterly revenue on ad, cloud boost
China’s Baidu Inc reported a 25% rise in quarterly revenue on Tuesday, powered by advertising on its core search and video-streaming platforms. The Beijing-based company’s aggressive push into cloud services, artificial intelligence, autonomous driving and smart transport technology has helped grow its non-advertising revenue and offset competition to its core search platform from Alibaba and […]
Biden to pitch his $174 bln electric vehicle plan in Michigan
President Joe Biden will make the case for his $174 billion electric vehicle plan on Tuesday, calling for government grants for new battery production facilities during a visit to a Ford Motor (F.N) electric vehicle plant in Michigan. He will also rule out consumer incentives for high-priced electric luxury models, according to a White House fact sheet […]
Asian shares push higher, dollar eases
Asian shares rose on Tuesday, shrugging off worries about an increase in regional coronavirus infections, while inflation jitters helped push gold prices to three-month highs. Equities in Europe and the United States looked set to follow. FTSE futures rose 0.76% and EuroSTOXX 50 futures traded 0.68% higher, while S&P 500 futures were up 0.33%. MSCI’s […]
Iliad signals weaker cash flow as it steps up 5G spending
Iliad flagged a cut in its free cash flow target for this year as the French telecoms group steps up its spending on 5G networks, sending its shares sharply lower on Tuesday. The company, controlled by billionaire Xavier Niel, said it would announce a new target in September, but did not say how much it […]
‘Flattered’ Russian spy chief denies SolarWinds attack – BBC
Russia’s spy chief on Tuesday denied responsibility for the SolarWinds (SWI.N) cyber attack but said he was “flattered” by the accusations from the United States and Britain that Russian foreign intelligence was behind such a sophisticated hack. The United States and Britain have blamed Russia’s Foreign Intelligence Service (SVR), successor to the foreign spying operations of the […]
UK jobless rate falls again, hiring up as lockdown eases
Britain’s unemployment rate fell again to 4.8% between January and March, when the country was under a tight lockdown, and hiring rose further in April, according to data that showed employers gearing up for the easing of curbs. Economists polled by Reuters had expected the rate to hold at 4.9%, and the reading added to […]
India’s COVID tally passes 25 mln; cyclone complicates efforts in Modi’s state
India total COVID-19 caseload surged past 25 million on Tuesday as a powerful cyclone complicated the health crisis in one of the states where the disease is spreading most quickly. COVID-19 tests were administered to 200,000 people evacuated from coastal districts of the western state of Gujarat before the cyclone struck late on Monday and […]
Burry of ‘Big Short’ fame reveals $530 mln bet against Tesla
The family office run by “Big Short” investor Michael Burry has disclosed a short position against Tesla Inc (TSLA.O) worth more than half a billion. Scion Asset Management said in a regulatory filing on Monday that it had bearish put options on 800,100 shares in Tesla as of the end of the first quarter that were worth […]
