BMW is Set to Double Fully-Electric Vehicle Sales in 2021
BMW will double its sales of fully-electric vehicles this year as it seeks to comply with CO2 emission targets and chase market leader Tesla, according to Reuters. Including plug-in hybrids,…
Marijuana Stocks Jump on Sales Beat, But Analysts Are Cautious
Aphria and other marijuana stocks rose on Thursday after the Canadian cannabis producer reported a 10% sales jump in the second fiscal quarter, according to Yahoo!finance. Aphria’s sales of $126.57…
Ant is Working on Timetable for Overhaul, China Central Bank Reveals
China’s central bank said Ant Group is working on a timetable to overhaul its business while ensuring operations continue, according to Bloomberg. Regulators are in close contact with the special…
Trump’s China Tech War Backfires As Automakers Run Short of Chips
Trump administration’s actions against key Chinese chip factories have dealt a blow to automakers who now face a shortage of semiconductors, according to Reuters. Major automakers have been forced to…
Joe Biden’s Projected $2 Trillion Stimulus Package Triggers Treasuries Sell Off
U.S Treasury prices fell on Thursday after President-elect Joe Biden move forward with a $2 trillion stimulus bill. The yield on the 10-year Treasury note, which moves inversely to its…
BlackRock Has $8.7 Trillion AUM. Posts Fourth Quarter EPS at $10.18
BlackRock’s adjusted diluted EPS for the fourth quarter of 2020 was $10.18, more than expected $8.84, according to the company’s press release. The EPS increase reflected higher revenues of $4.48…
Blackstone Names Snowflake CEO Frank Slootman as Senior Adviser
Blackstone Group Inc. named Snowflake Inc. Chief Executive Officer Frank Slootman as its senior adviser reports Bloomberg Quint. Slootman will help Blackstone’s portfolio companies with a focus on its platform…
Qualcomm to Challenge Apple, Intel with $1.4 Billion Acquisition of Chip Startup
Qualcomm Inc. will acquire Nuvia Inc., a chip startup founded by Apple veterans, for $1.4 billion, according to release. The company plans to put the firm’s technology into its smartphone,…
Fiat Chrysler will Pay 2.9 Billion Euro Special Dividends on January 29
Italian American carmaker Fiat Chrysler is set to pay 2.9 billion euro or $3.5 billion special dividend on January 29, according to Reuters. The special dividend, worth 1.84 euros per…
China will Vie to Become World’s Financial Center-Ray Dalio
Bridgewater founder Ray Dalio said China would emerge as a rival to New York and London as the world's financial center, according to Financial Times. Dalio referred to a “defining…
Intel in Talks with TSMC, Samsung to Outsource Chip Production
Intel Corp. has held talks with Taiwan Semiconductor Manufacturing Co. and Samsung about making some of its best chips, according to Yahoo!finance. Amid successive delays in its chip fabrication, Intel…
Gilead Banks on Remdesivir Strength to Raise 2020 Profit Forecast
U.S drugmaker Gilead raised its total product sales forecast to the range of $24.30 billion to $24.35 billion, on increased sales of remdesivir, reports Reuters. The company raised its adjusted…
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