S&P Hits a Record above $4,000 as Optimism Grows Across Sectors
The S&P 500 rose as much as 0.7% to surpass a record 4,000 on Thursday as investors weighed President Joe Biden’s newly unveiled $2.25 trillion stimulus plan. The surge was…
Biden Targets Amazon for Using ‘Loopholes’ to Avoid Paying Federal Taxes
President Joe Biden on Wednesday singled out Amazon.com Inc. for not paying federal taxes, according to Reuters. Biden said Amazon was using various loopholes to avoid the federal income tax…
Volkswagen Needs Green Credits to Meet China’s Environmental Laws. Tesla Helps and Sells
A Volkswagen joint venture in China has agreed to purchase green car credits from Tesla to meet local environmental rules, according to Reuters. The deal highlights the scale of the…
Jobless Claims Rise Above Estimates to Reach 719,000
U.S jobless claims in the week ending March 27 rose by 61,000 to 719,000, according to the Department of Labor press release. The jobless claims were higher than expected 675,000.…
TSMC Seeks $100 Billion Investment in Over Three Years to Boost Chip Business
Taiwan Semiconductor Manufacturing Co. plans to spend $100 billion over the next three years to expand its chip fabrication capacity, according to Bloomberg. The spending aims to address the booming…
Eurozone Manufacturing PMI Jumps to 62.5 in March as Economic Conditions Improve
The headline Eurozone Manufacturing PMI reached 62.5 in March, up from February’s 57.9 reading, according to IHS Markit press release. The growth was fueled by improving operating conditions which hit…
Micron, Western Digital Consider a $30 Billion Acquisition of Chip Maker Kioxia
Micron technology Inc. and Western Digital Corp are exploring a potential deal for Kioxia Holdings Corp., according to the Wall Street Journal. The deal could value the Japanese semiconductor company…
NIO’s Vehicle Deliveries Hit a Record 373% YOY Growth in March 2021
NIO delivered 7,257 vehicles in March 2021, a new monthly record, representing a 373% year over year growth, according to StreetInsider. In total, the company delivered 20,060 vehicles in the…
Microsoft Awarded $21.9 Billion Contract with the U.S Army
Microsoft Corp. has won a deal worth up to $21.88 billion over 10 years to sell the U.S Army augmented reality headsets, according to Reuters. The headsets are based on…
Xpeng Sets Record with 3,600 km Autonomous Drive
Xpeng P7 fleet drove over 3,600 km from Guangzhou to Beijing with 2,930 km highway driving under the control of Navigation Guided Pilot, according to Businesswire. The fleet achieved an…
Deutsche Bank Sold $4 Billion in Private Deal to Escape Archegos Mess
Deutsche Bank AG sold about $4 billion of holdings in a private deal on Friday to escape the Archegos Capital Management scuffle, according to Bloomberg. The German bank executed the…
Goldman Joins Morgan Stanley as Top Global Banks Pursuing Digital Assets
Goldman Sachs is close to offering its first investment vehicles for Bitcoin and other digital assets to its wealthy clients, according to CNBC. The bank aims to begin offering investments…
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