PayPal CFO to Exit for Walmart, Analysts Fault Timing
(Bloomberg) PayPal Holdings Inc. Chief Financial Officer John Rainey will leave the payments giant for Walmart on June 6. Rainey will replace Brett Biggs as Walmart’s finance chief in a…
Sierra Oncology Jumps 36% on $1.9B Acquisition by GlaxoSmithKline
(Sierra Oncology) Shares of Sierra Oncology rose more than 36% in premarket on Wednesday after agreeing to be acquired by Sierra Oncology for $1.9 billion. The deal will see Sierra…
China’s Imports Hit a Snag in March Amid Covid-19 Curbs, Falling Demand
(Reuters) Inbound shipments to China fell by 0.1% in March from the prior year, the first decline since August 2020 due to Covid-19 restrictions. The Covid-19 restrictions reportedly curtailed freight…
UK Inflation Accelerates by an Annual 7.0 % in March, a 3-Decade High
(ONS) The UK Consumer Prices Index increased by 7.0% in the 12 months to March 2022, accelerating from a gain of 6.2% in February. The annual surge in inflation reflected…
OPEC to Maintain Output Policy, Sees Balanced Impact from Missing Russian Output
(OPEC) OPEC has indicated sticking with its output increase policy, as the cartel sees any reduced supply due to the Russian-Ukraine conflict being offset by dampened global demand. OPEC+ expects…
US Inflation Accelerates in March to an Annual 41-Year Record of 8.5%
(BLS) US inflation rose by a higher 1.2% in March, after rising another 0.8% in February on the back of escalating energy prices. Following the higher monthly increases, the US…
Myovant Stock Falls 19% After FDA Faults Endometriosis Drug Application
(Myovant) Shares of Myovant Sciences fell more than 19% on Tuesday after the US Food and Drug Administration cited deficiencies in filing for an endometriosis drug. FDA did not offer…
US Small Business Confidence Falls Again at Below Long-Range Average in March
(NFIB) Concerns of rising inflation dragged the US Small Business Optimism down by 2.4 points to 93.2 in March. The March decline is the third straight month of fall, with…
Robinhood Adds Shiba Inu, Polygon, Solana, and Compound Tokens
(Robinhood) Meme token SHIB, Polygon’s MATIC, Solana’s SOL, and Compound’s COMP have been added to the Robinhood platform. The additions follow a move, last week by the brokerage firm to…
German’s Lenders Deutsche Bank and Commerzbank Tumble as Investors Exit Stakes
(WSJ) Shares of German’s lenders Deutsche Bank and Commerzbank fell more than 8% each on Tuesday as investors downsized holdings. Investors reportedly sold 5% stakes in both lenders at proceeds…
Charlie Munger’s Daily Journal Corp. Dumps 50% of Alibaba Stake
(Reuters) Charlie Munger’s Daily Journal Corp. held around 300,000 shares of Alibaba as of March 31, a more than 50% reduction of stake from 602,060 at the end of 2021.…
UK Unemployment Falls by 0.2% in Dec-Feb Quarter, Job Vacancies Hits a Record
(ONS) The UK unemployment rate from December 2021 to February 2022 quarter declined by 0.2% to 3.8%. The employment rate, nonetheless, was largely unchanged at 75.5%, below a pre-pandemic level.…
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