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 […]
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 […]
Alibaba revenue tops expectation on pandemic-driven online boom
China’s top e-commerce platform Alibaba Group Holding Ltd (9988.HK), reported a forecast-beating 64% surge in quarterly revenue on Thursday, as more people shopped online due to the coronavirus pandemic. But the strong performance was overshadowed by intense regulatory crackdown that resulted in the suspension of a $37 billion IPO of its affiliate Ant Group and a […]
Military coup puts Telenor’s future in Myanmar on the line
Since Myanmar’s military ordered telecoms operators to shut their networks in an effort to end protests against its February coup, Telenor’s business there has been in limbo. As one of the few Western companies to bet on the South East Asian country after it emerged from military dictatorship a decade ago, the return to army […]
Analysis: Cryptocurrency ethereum is flourishing but risks linger
Ethereum has outperformed major digital currency rivals this year, bolstered by the surge in decentralized finance (DeFi) and the anticipation of a technical adjustment this summer, but it faces hurdles that could stall its rise. With a jump of more than 350% in its price this year, ethereum has the second-largest market capitalization after bitcoin, […]
Is it over yet? Still no recession end date as U.S. economy hums along
The U.S. economy is growing at its fastest rate since the early 1980s while household bank accounts are bulging with cash doled out by the federal government to blunt the impact of the coronavirus pandemic. Over 900,000 jobs were added in March and a Reuters poll of economists expectsjust under one million more for April, […]
Henry says Spotify CEO Ek contacted Arsenal owners for takeover offer
Spotify (SPOT.N) CEO and founder Daniel Ek has contacted Arsenal owner Stan Kroenke’s family to make an offer to buy the Premier League club but a takeover could be drawn out, former France international Thierry Henry said. Ek said last week he had secured the funds to buy Arsenal, valued at $2.8 billion according to Forbes. British […]
Indian shares set to snap 4-day gaining streak, Reliance earnings eyed
Indian shares stepped back on Friday after four straight sessions of gains that set them on course for their strongest week since early-February, with earnings of Reliance Industries, the country’s most valuable company, in focus. The NSE Nifty 50 index (.NSEI) fell 0.78% to 14,778.9 by 0349 GMT, while the benchmark S&P BSE Sensex (.BSESN) slipped 0.84% to 49,345.57. […]
U.S. economy accelerates in first quarter; jobless claims edge lower
U.S. economic growth accelerated in the first quarter, fueled by massive government aid to households and businesses, charting the course for what is expected will be the strongest performance this year in nearly four decades. Gross domestic product increased at a 6.4% annualized rate last quarter, the Commerce Department said on Thursday in its advance […]
Exxon retreated from oil trading in pandemic as rivals made fortunes
Exxon Mobil’s effort to build an energy trading business to compete with those of European oil majors unraveled quickly last year as the firm slashed the unit’s funding amid broader spending cuts, 10 people familiar with the matter told Reuters. The cuts left Exxon traders without the capital they needed to take full advantage of […]
