Euro Area, EU Unemployment Edges Lower in January
(Eurostat) The euro area unemployment rate was 6.8% in January, declining from 7.0% in the previous month, and 8.3% in the comparable month of 2021. In the EU, unemployment was…
China’s Service Business Activity Grows at the Weakest in 6 Months in February
(HIS Markit) China’s Business Activity Index was recorded at 50.2 in February, a decline from 51.4 in January, marking the softest expansion since September. The slowdown in the service activity…
Tencent Seeks Regulatory Stamp from Beijing for Its Virtual Concerts in Metaverse
(Cointelegraph) Tech giant Tencent has filed for a patent with the Chinese National Intellectual Property Administration to launch virtual concerts in the metaverse. The patent filing by Tencent comes amid…
Snowflake Tanks Despite Robust Q2 2022 Earnings as Growth Outlook Fails to Excite
(Snowflake) Snowflake stock fell more than 22% on Thursday despite reporting a 101% jump in the fourth quarter of 2022 revenue which hit $383.8 million. The company reported product revenue…
US Crude Stockpiles Plunged by 2.6M Barrels Last Week
(EIA) US inventories of commercial crude oil were 413.4 million barrels in the week that ended February 25, down by 2.6 million barrels from the previous week. Inventories of motor…
Next Games Stock More Than Doubles After Announcing Purchase by Netflix
(Next Games) Shares of Next Games rose 119% on Wednesday after confirming a $72 million acquisition deal by streaming giant Netflix. Netflix is expected to pay 2.10 euros or $2.33…
Adagene Soars 15% After a $2.5B Multi-Target Collaboration With Sanofi
(Adagene) Shares of Adagene Inc. rose more than 15% on Wednesday after a license agreement with Sanofi that will see the company earn up to $2.5 billion, plus royalties. The…
US Private Sector Adds 475,000 Jobs in February, Small Firms Struggle
(ADP National Employment) US private sector showed accelerated hiring in February, adding 475,000 jobs and surpassing estimates of 378,000. Large businesses generated the bulk of jobs, with a total of…
Seven Russian Banks to Be Cut Off From the Swift Network – EU
(CoinDesk) The European Union has voted to prohibit access to the SWIFT system by seven Russian banks. The move will become effective on March 12, 2022, with the bloc using…
Ford Announces Split Into Electric and Auto Units
(Ford) Ford Motors is reorganizing its operations by separating electric and internal combustion businesses into distinct units to unlock value. The move by Ford is geared towards scaling its electric…
AMC Revenue Tops $1Billion in the Fourth Fiscal Quarter 2021
(AMC) AMC Entertainment Holdings reported total revenue of $1.172 billion in the fourth quarter of 2021, up from $162.5 million in the prior year. For FY21, AMC revenues were $2.53…
UK House Prices Hits a Record After a 1.7% Increase in February
(Nationwide) The average house prices in the UK rose past 260,000 pounds in February, a record, after a 1.7% increase on a monthly basis from January. On an annual basis,…
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