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…
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,…
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