Shell Jumps 3% as Profit Almost Triples in Q1 2022
(Shell) Shares of Shell rose more than 3% on Thursday after reporting adjusted earnings of $9.1 billion in the first quarter of 2022, compared to $3.2 billion in the prior…
China’s Service Activity Weakens at the Fastest Rate in 2 Years in April
(IHS Markit) The headline Business Activity Index in China was posted at 36.2 in April, compared to March’s 42.0. The decline was the second-sharpest on record, only behind February 2020.…
What You Need to Know About Fed’s Biggest Rate Hike in Over Two Decades
(Fed) Fed increased the benchmark interest rate by half a percentage point, the largest increase since 2000, the same as the market expected. Following Wednesday's decision, the federal-funds rate of…
Gucci Is Reportedly Accepting Crypto Payments in Some US Stores
(Vogue Business) Gucci has reportedly rolled out crypto payments at select stores in the US as it embarks on more expansion of the service in the future. Some of the…
Ford’s Sales Drop 10.5% In April Amid EV and SUV Strengths
(Ford) The total US sales of Ford vehicles stood at 176,965 in April, representing a decline of 10.5% from the prior year. The total sales in April comprised of 79,768…
Polkadot Introduces a Cross-Chain Messaging System for the First Time
(The Block) Polkadot users will be able to natively move tokens across parachains, thanks to a newly unveiled cross-chain messaging system dubbed XCM. The new messaging system is expected to…
US Private Sector Adds 247,000 Jobs in April as Small Firms Record Outflows
(ADP National Employment) A total of 247,000 jobs were generated in the US private sector from March to April, compared to 455,000 jobs the previous month. Large businesses generated the…
Moderna Jumps 6% As Net Income More Than Triples in Q1 2022
(Moderna) Moderna reported a net income of $3.7 billion in the first quarter of 2022, an increase of more than 300% from $1.2 billion in the prior year. The robust…
Eurozone Expansion Reaches a 7-Month High in April as Service Activity Pick Steam
(S&PGlobal) The overall Composite Output Index in the euro area was at a seven-month high of 55.8 in April, up from 54.9 in March. The robust growth reflected a strong…
Equinor Books $1.08B Impairment From Russian Exit Amid Revenue Double
(EnergyVoice) Equinor has incurred $1.08 billion impairment since announcing a cessation of new investments in Russia in a move to exit the country. The energy giant said that the increased…
US-Listed Chinese Stocks Slip on Reports of Didi Probe
(Bloomberg) Shares of Didi Global dropped more than 6% on Wednesday, leading declines among Chinese stocks listed in the US exchanges amid crackdown concerns. The decline in Didi followed news…
AMD Reports a Record $5.9B Revenue in the First Quarter of 2022
(AMD) Advanced Micro Devices revenue in the first quarter of 2022 rose by 71% to a record $5.9 billion, with double digit growth in each of its core businesses. The…
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