Tariffs Imposed by Washington Lower Demand for Chinese Imports in the US
Increased tariffs imposed on China have resulted in reduced imports from the country to the U.S according to the Wall Street Journal. The move has also affected the kinds of…
SoftBank Posts Record 4.99T Yen Profit in FY20, the Largest by a Japanese Company
SoftBank posted a record group profit of $45.88 billion or 4.99 trillion yen in the year ended March, according to the company’s press release. The annual earning is the largest…
Consumer Price Index Jumps 0.8% in April to Cap a 12-Month Record Since 2008
U.S Consumer Price Index rose 0.8% in April, after gaining 0.6% in March, according to the Bureau of Labor Statistics press release. The index rose 4.2% in the last 12…
Xiaomi Removed from U.S Blacklist. Stock Soars
Shares of Chinese tech company Xiaomi rose about 6.5% in Hong Kong on news U.S will not put it on a list of blacklisted entities, according to Seeking Alpha. Washington’s…
Amazon Wins $300 Million Tax Case Against the European Commission
The EU general court found Amazon had no illegal tax advantage in Luxembourg as claimed by the European Commission, according to CNBC. The ruling shields the U.S e-commerce giant from…
India Seeks Intervention in Taming Surging Price of COVID-19 Supplies from China
Indian envoys have urged China to help in stopping Covid-19 supplies price increases as India battles a surging second wave of the pandemic, according to SCMP. The increased prices coupled…
Uber and Lyft Partners with Washington to Offer Free Rides to Covid Vaccine Sites
Ride-hailing Uber and Lyft have agreed with White House to offer free rides to Covid vaccination sites up to July 4, according to the Wall Street Journal. The partnership is…
Inflation Worries Sends Mixed Reactions in Equity Futures as Yields Steady
Concerns over price pressures raised stakes in U.S equity futures on Tuesday ahead of inflation data on Wednesday. S&P 500 index recovered earlier losses while the tech-heavy Nasdaq 100 traded…
Palantir’s Revenue Jumps 49% YoY. Issues Q2 and FY21 Outlook
Palantir posted revenue of $341 million in the first quarter of 2021, up 49% year over year, according to the company’s press release. The company’s GAAP diluted net loss per…
CrowdStrike and Google Cloud Deepen Cooperation in Cloud Security Operations
CrowdStrike and Google Cloud extended partnership with several service integrations to generate in-depth security strategies, according to press release. The integration enhances workload protection and visibility across hybrid cloud environments.…
Coinbase Stock Upgraded to $434. Seen as an Enabler of Crypto Adoption
Oppenheimer has assigned crypto exchange Coinbase an “outperform” rating with $434 price target, according to The Fly. Analyst Owen Lau sees the exchange as a crypto innovation enabler that addresses…
JEDI Cloud Project Hangs in Balance as Amazon Fight Contract Award to Microsoft
US Pentagon officials plan to discontinue the JEDI cloud-computing project, which is still in court, according to The Wall Street Journal. The project has stalled since 2019 following Amazon’s court…
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