Morgan Stanley Profit Surpasses Estimates on Trading Strength
Morgan Stanley recorded a net income of $3.27 billion or $1.81 per share in the quarter ended December 31, according to the company’s press release. The earnings beat analysts’ estimate…
China’s ETF Overtakes BlackRock Fund as Investors Avoid Sanctions
China Asset Management Ltd.’s CSI 300 Index ETF grew to $2.7 billion in assets as of Tuesday, according to Bloomberg. The value surpasses BlackRock’s iShares fund tracking the FTSE A50…
Kia Stock Soars after Reports Linking it With Manufacture of Apple’s EV
Kia Corp. shares rose as much as 20% on Wednesday after Korean Outlet eDaily said it would make Apple Inc.'s electric cars, Korean media eDaily reports. The reports allege Hyundai…
Yellen Urges Lawmakers to ‘Act Big’ to Save the Economy, Worry About Debts Later
Biden's New Treasury secretary nominee Janet Yellen urged lawmakers on Tuesday to 'act big" on coronavirus relief spending, reports Reuters. Yellen says the economic benefits of higher spending outweigh the…
Halliburton Signals Oil Recovery after Profit Beat
Halliburton Co. said on Tuesday it expects global oil and gas industry recovery from the second quarter. Estimates came after the oilfield services provider reported total revenues of $3.24 billion,…
Cruise, GM Partner with Microsoft to Commercialize Self-Driving Vehicles
Self-driving carmaker Cruise and General Motors will partner with Microsoft Corp to commercialize driverless vehicles, according to Yahoo!finance. Microsoft will join GM, Honda Motor Co, and institutional investors in a…
Bank of America Posts Smaller-than-Expected Drop in Earnings, Projects Loan Growth
Bank of America shares fell 1.58% after the bank reported a net income of $5.21 billion or 59 cents per share in the fourth quarter, according to the BofA press…
Broad Coalition of Health and Technology Leaders Announce Initiative to Accelerate Digital Access to COVID-19 Vaccination Records
A broad coalition of health and technology leaders announced the creation of the Vaccination Credential Initiative (VCI), according to Businesswire release. The initiative will empower individuals with digital access to…
Saudi’s Production Cuts Boosts Russia’s Flagship Crude
Russia’s flagship crude sold at a slight discount of 70 cents a barrel surged from an 8-month low seen before Christmas. According to Bloomberg, the rise was catalyzed by a…
Global Vaccine Gaps Raise Concern of Dangerous Variants
Economic stakes are high as global gaps in COVID-19 vaccines raise concerns the continuing virus will breed dangerous variants, according to Bloomberg. Many countries are yet to begin vaccine shots…
Stellantis Gains 6.5% in Milan and Paris Trading Debut after Fiat-PSA Merger
Stellantis NV, formed after the merger of Fiat Chrysler Automobiles NV and PSA Group, gained about 6.5% after listings in Milan and Paris. Shares jumped 7.7% in Milan, where the…
China’s Economy Defies COVID-19 Shocks to Pick Steam in Fourth Quarter, End 2020 Solidly
China’s GDP grew 6.5% year on year in the fourth quarter, more than expected 6.1%. The overall growth in 2020 was 2.3%, with analysts now expecting China’s GDP to expand…
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