Senate Democrat proposes $52 billion for U.S. chips production, R&D
U.S. Senate Democratic Leader Chuck Schumer unveiled revised bipartisan legislation late Tuesday to approve $52 billion to significantly boost U.S. semiconductor chip production and research over five years.
Walmart beats estimates for sales on stimulus spending boost, raises profit forecast
Walmart Inc (WMT.N) raised its full-year earnings forecast on Tuesday and beat estimates for same-store sales as it benefited from additional stimulus checks that put more money in consumers’ pockets and boosted demand for apparel and electronics.
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 […]
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 […]
‘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 […]
U.S. military offers J&J vaccines for South Korean troops
The U.S. military has offered to provide some Johnson & Johnson’s (J&J) (JNJ.N) coronavirus vaccines for South Korean troops, the defence ministry said on Monday, as South Korea struggles with a shortage of COVID-19 shots. The offer comes days before President Moon Jae-in is due to visit Washington for his first summit with U.S. President Joe Biden, […]
Global stocks press pause, gold hits 3-mth high on inflation concerns
Global shares hit the pause button and gold briefly crested a three-month high as surging COVID-19 cases in some Asian countries and inflation pressures tempered demand for riskier assets. Markets have been skittish in recent weeks as bumper supplies of central bank stimulus and rising prices in the United States and other countries fuel concerns […]
AT&T close to deal to combine media empire with Discovery-reports
U.S. telecoms giant AT&T Inc (T.N) is nearing a deal to combine its media assets, including CNN and HBO, with Discovery Inc (DISCA.O), the owner of lifestyle TV networks such as HGTV and TLC, according to news reports citing unnamed sources. The deal would mark the unwinding of AT&T’s $108.7 billion acquisition of U.S. media conglomerate Time Warner […]
