U.S. chip subsidy effort faces pushback over China issues
A series of amendments for a $190 billion U.S. Senate bill aimed at countering China’s technology challenge are in limbo after business groups protested proposals intended to ensure that none of the money finds its way to China or other U.S. rivals.
Wall Street edges up as weekly jobless claims fall
U.S. stocks advanced modestly on Thursday, as data showing improvement in the labor market helped fuel expectations the economy continues to recover and spurred a small rotation towards stocks seen as more likely to benefit from the rebound.
Salesforce raises annual revenue, profit outlook
Salesforce.com Inc (CRM.N) raised its full-year forecast for revenue as well as profit, and reported quarterly revenue that beat analysts’ estimates, following increased demand for its cloud-based software due to a pandemic-led shift to remote work.
Cryptos turn choppy as bounce momentum ebbs
Cryptocurrencies slipped on Thursday but without falling through recent lows, as enough traders clung to hopes that the asset class can claw its way back from last week’s plunge.
Tech M&A in Asia at record high, main deal driver in the region -industry data
Mergers and acquisitions targeting technology companies have hit a record high in Asia Pacific, Dealogic data shows, and dealmakers expect this M&A pace to continue as the pandemic spurs a shift toward virtual activities in the economy.
HK’s Next Digital shares soar as trading resumes after Jimmy Lai assets frozen
Shares in jailed tycoon Jimmy Lai’s Next Digital Ltd (0282.HK) soared on Thursday, the first day of trading after a suspension of longer than a week following a freeze in the pro-democracy activist’s assets under the national security law.
Nvidia forecast beats expectations but crypto mining’s role remains unclear
Nvidia Corp (NVDA.O) forecast second-quarter revenue above analysts’ estimates on Wednesday, but shares fell 1% after-hours as the company could not say for certain how much of its recent revenue rise was driven by the volatile cryptocurrency-mining market.
Wall Street edges up with U.S. bond yields in check
U.S. stocks edged higher on Wednesday as recent comments from Federal Reserve officials helped tamp down concerns about runaway inflation and kept bond yields in check.
Ford boosts EV spending, outlines 2030 sales targets, shares near 5-year high
Ford Motor Co (F.N) on Wednesday outlined plans to boost spending on its electrification efforts by more than a third and said it aims to have 40% of its global volume be all electric by 2030, sending shares near a five-year high.
Amazon snaps up James Bond owner MGM for $8.45 bln as streaming war heats up
Amazon.com Inc (AMZN.O) said on Wednesday it is buying MGM, the fabled U.S. movie studio home to the James Bond franchise, for $8.45 billion, giving it a huge library of films and TV shows and ramping up competition with streaming rivals led by Netflix and Disney+.
