UK Car Hits 60-Year Low, as Output Volume Plunges by 37.6%
(SMMT) The volume of cars manufactured in the UK fell by an annual rate of 37.6% in July this year to a low of 53,438. The output was the lowest…
U.S. Crude Oil Inputs Drops by 191K bpd as Inventory Remains Below a 5-year Average
(EIA) The U.S. crude oil refinery inputs decreased by 191,000 bpd to 16 million bpd in the week ended August 13 from the previous week’s average. The crude oil imports…
Shares of Meme Stock Cassava Sheds 30% Following Concerns of Trial Results
(Bloomberg) Cassava Sciences Inc. stock recorded a 30% plunge after a former SEC lawyer raised concerns over the integrity of its trial results for an experimental Alzheimer drug. Former SEC’s…
NVIDIA Set to Power the Largest GPU-Based Supercomputer at the US’s Argonne Lab
(NVIDIA) NVIDIA has announced that the largest GPU-based supercomputer at Argonne National Laboratory of the US Department of Energy will run on its computing platform. The Polaris supercomputer is expected…
Intuit Upgrades 2022 Guidance after Revenue Jumps 41% in Q4 2021
(Intuit) Intuit Inc. reported revenue of $2.6 billion in the fourth quarter of 2021, an uptick of 41% from the comparable quarter of 2020. For the full year 2021, revenue…
Polysilicon Registers a 175% Surge in the First of 2021 as Demand Soar
(IHS Markit) Polysilicon prices have jumped 175% from the start of this year to mid-June as demand for solar gained momentum from the pandemic lows of early 2020. The high…
Wall Street to Bypass Washington in High-level Talks with Beijing
(Bloomberg) A group of Wall Street business leaders is planning high-level meetings with officials drawn from the Chinese government amid strained relations with Washington. The meetings are set to discuss…
Huawei Gets the Nod of Washington to Buy Chips for its Auto Component Business
(Reuters) US officials have reportedly approved Huawei’s license applications to buy chips for its auto component business. The licenses are worth hundreds of millions of dollars even as Huawei moves…
Best Buy Upgrades Guidance after Revenue Rose by 20% in Q2 FY22
(Best Buy) Best Buy Co. Inc. announced net revenue of $11.9 billion in the second quarter of the 2022 fiscal year, up from net revenue of $9.9 billion in the…
JD.com Surges 15%, Leading other Chinese Stocks in Rally after Regulatory Clarity
(CNBC) Shares of e-commerce giant JD.com rose almost 15% on Tuesday as investors got a little clarity on the regulatory outlook after the passage of a major anti monopoly law.…
Pfizer-BioNTech’s Covid Vaccine Becomes the First to Get Full FDA Approval
(CNBC) US Food and Drug Administration has granted full approval of Pfizer-BioNTech Covid-19 shots. The approval means that Pfizer and BioNTech become the first in the US to win full…
Existing Home Sales Soar 2% in July as All Regions Avoid Slump
(NAR) Existing home sales in the US recorded a 2% jump from June to July, with the annual rate in the month reaching 5.99 million. On a year over year…
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