Cisco forecasts profit below estimates, cites supply chain issues
Cisco Systems Inc (CSCO.O) on Wednesday cautioned that supply chain issues will linger through the end of 2021 and forecast its current-quarter profit below estimates, sending shares of the network gear maker down 5%.
Wall Street closes lower after Fed minutes, crypto fall
Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the U.S. economy remained far from the central bank’s goals, with some eyeing a future discussion of tapering its bond buying program.
Group of U.S. senators backs $46 billion in relief for Postal Service
A bipartisan group of 20 U.S. senators introduced legislation on Wednesday to provide the cash-strapped U.S. Postal Service (USPS) with $46 billion in financial relief over 10 years.
Britain clears $44 bln Virgin-O2 merger to take on BT
Britain’s competition regulator cleared a $44 billion merger between broadband company Virgin Media and Telefonica’s (TEF.MC) UK mobile network O2 on Thursday, after a months-long review.
ByteDance founder to step down as CEO, hand over to college roommate
Zhang Yiming will step down as chief executive of TikTok-owner ByteDance, leaving the task of navigating a rising number of Big Tech regulations worldwide to college roommate, long-time colleague and current human resources head Liang Rubo.
U.S. lawmakers to propose tax credit for sustainable aviation fuel
U.S. lawmakers plan to introduce a bill on Thursday that would create a tax credit for lower-carbon sustainable aviation fuel, which they hope will slash emissions of greenhouse gases from the aviation industry.
Slide in cryptocurrencies, other high-fliers, comes amid looming U.S. inflation worries
A selloff in cryptocurrencies, high-growth stocks and other high-flying assets may be signalling a more cautious outlook among market participants after a stretch of rampant exuberance, investors and analysts said.
EU lawmakers give final approval to bloc’s green transition fund
The European Parliament on Tuesday formally approved the European Union’s multi-billion euro fund to support countries as they wind down fossil fuel industries, as the bloc overhauls its economy to fight climate change.
No pain, no gain for big funds hunting the next Tesla
Place your bets! The race to find the next Tesla (TSLA.O) is on but the search is turning up plenty of clunkers as well as potential superstars.
Slate of Google updates boost its smartwatch, work collaboration efforts
Alphabet Inc’s (GOOGL.O) Google on Tuesday unveiled updates across many services, including Maps, Photos and operating systems, as the company showcases its role in a world that has become more digitally connected during the pandemic.
