EU Court Upholds $2.8 Billion Antitrust Fine Against Google
(CNBC) The EU’s General Court has ruled in favor of the European Commission in a contested antitrust fine of 2.42 billion euros or $2.8 billion by search giant Google. The…
Rivian Automotive Prices IPO at $78 a Share, Above Previous Raised Target
(Bloomberg) Rivian Automotive Inc. is expected to debut its IPO at $78 per share, which is above the raised target of $72 to $74 apiece announced on Friday last week.…
Coinbase Tanks Almost 15% as Q3 2021 Revenues Disappoint, Active Users Fall
(Coinbase) Shares of Coinbase fell almost 15% on Tuesday after-hours trading after its third-quarter revenue of $1.31 billion missed expected $1.58 billion. The revenue was more than 300% increase from…
DoorDash Jumps After a €7B Deal to Buy Finnish Delivery Firm Wolt
(FT) Delivery firm DoorDash rose about 20% in premarket trading on Wednesday on news it will acquire Finnish delivery operator Wolt for 7 billion euros. DoorDash expects the deal to…
China’s Producer Prices Hits a 26-Year High Fueling Stagflation Concerns
(NBS) Factory gate inflation in China rose 13.5% in October from the prior year, the highest since July 1995 and higher than forecasted 12.4%. On a monthly basis, the producer…
US PPI Jumps 0.6% in October as Final Demand Goods Prices Soar the Most
(Bureau of Labor Statistics) US posted a 0.6% increase in the Producer Price Index in October, a further rise after a 0.5% jump in September, but below 0.7% in August.…
GE Surges After Announcing a Split into 3 Entities in Revival Plans
(Reuters) Shares of industrial giant General Electric rose more than 12% in premarket trading on Tuesday after the company announced it would split into three entities to streamline its operations.…
Tripadvisor Plunges on Missed Earnings Expectation and CEO Exit
(Tripadvisor) Shares of Tripadvisor Inc. fell more than 8% on Tuesday after its 2021 third quarter revenue of $303 million missed expected $307.3 million. The revenue were double from $151…
Alphabet the Top Earner Among US Tech Giants in 2021 as Market Cap Hits $2T
(Bloomberg) Google’s parent company Alphabet Inc. was the top gainer among US big five tech firms this year with its 70% advance taking the total market cap above $2 trillion. …
Bitcoin and Ethereum Hit New All-Time Highs in Fresh Bull Run
Bitcoin traded at $68,500 on November 9 morning hours, while Ethereum claimed $4,857, both record highs on a robust bullish run. Exchanges reported declining balances due to massive outflows even…
China Lines Up More Than a Dozen Licenses for Tutoring Firms in New Guidelines
(WSJ) China is preparing to issue more than a dozen licenses to education companies seeking to offer after-school tutoring. The tutoring firms will be required to operate as non-profit, while…
Banking Giant ING Explores a DeFi Lending Project That Excludes Volatile Crypto
(CryptoPotato) Dutch financial services giant ING is collaborating with the country’s financial authority to launch a decentralized finance lending project. ING plans to test the DeFi lending project using the…
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