Gloomy outlook dulls PayPal’s quarterly profit beat
Shares of PayPal Holdings Inc(PYPL.O) fell 8% on the payment company’s downbeat current-quarter profit outlook that outweighed a better-than-expected profit in the second quarter from a pandemic-driven shift to digital spending.
Duolingo enters ‘major leagues’ with $6.5 bln valuation in strong debut
Language learning app Duolingo Inc (DUOL.O) notched a valuation of $6.5 billion after its shares surged nearly 40% in the company’s Nasdaq debut on Wednesday, becoming the latest education technology startup to impress Wall Street.
US dollar, stocks dip as Fed keeps taper timing close to chest
U.S. stocks and the dollar slipped on Wednesday in listless trade after the Federal Reserve gave no clue about when it might start reducing its purchases of government bonds, even as it said the economic recovery is on track.
Google parent Alphabet reaches record quarterly revenue, profit in ad boom
Google parent Alphabet Inc’s (GOOGL.O) quarterly revenue and profit surged to record highs, the company reported on Tuesday, powered by a rise in advertising spending as more consumers shopped online.
Santander profit beats forecasts on strong UK, U.S. performance
Spain’s Santander (SAN.MC) beat forecasts with a 35% jump in second-quarter underlying profit on the back of lower loan loss provisions, strong U.S. consumer business and a rise in mortgage lending in the UK market.
Wizz Air sees summer capacity close to pre-pandemic levels
Wizz Air (WIZZ.L) expects capacity to ramp up to between 90% and 100% of pre-pandemic levels in July and August as summer demand for European travel grows, and this could get an extra boost from further easing of UK restrictions.
Microsoft sees steady cloud growth after record quarterly profit
Microsoft Corp (MSFT.O) posted its most profitable quarter on Tuesday, beating Wall Street expectations for revenue and earnings, as PC sales declines stemming from a global chip shortage were more than made up for by a boom in cloud services.
EXCLUSIVE Rivian ready to invest $5 billion in second U.S. assembly plant -document
Amazon.com Inc (AMZN.O)-backed Rivian plans to invest $5 billion initially in its second U.S. electric vehicle assembly plant, according to a company document shared with state economic development officials.
BASF reports second-quarter beat, says no Delta impact so far
The world’s largest chemical producer BASF (BASFn.DE) reported a better-than-expected second-quarter net profit on Wednesday, saying the spread of Delta coronavirus variant has not interrupted orders from industrial customers so far.
Australian CPI blows hot in Q2, core inflation far cooler
Australia’s consumer prices rose at the fastest annual pace in almost 13 years last quarter as petrol jumped and government subsidies unwound, but a far tamer reading for core inflation suggested the spike would be fleeting.
