PayPal Records Strongest Quarter Ever. Revenues Grew 31%
PayPal reported revenue of $6.03 billion in Q121, up 31%, or 29% on a currency neutral basis, year over year, according to the company’s press release. GAAP earnings per share…
VW Seeks “Minor” Deals to Comply with Emission Rules Amid Slow EV Uptake
Volkswagen AG has contacted other carmakers for “minor” deals to help the automaker meet emission requirements in the US and China, according to Bloomberg. CEO Herbert Diess is confident of…
Uber Posts a Record Gross Bookings of $19.5B Amid Lower Demand for Ride Service
Uber reported that its gross bookings rose 24% year over year in the first quarter to a record $19.5 billion, according to the company’s press release. Sustained expansion in the…
NYT Shows Slowest Growth in Subscribers Since 2019 Q2. Revenue 6.6% Climb Can’t Help the Stock
New York Times recorded a revenue of $473.0 million in Q121, a 6.6% jump from the Q120, according to the company’s press release. For the core news offering, the company…
Woman accepting a delivery boxes from delivery man
U.S Service Sector Economic Activity Eases 1% in April in an 11-Month Expansion
U.S Services PMI in April was 62.7%, 1 percentage point lower than March’s record high of 63.7%, according to the Institute of Supply Management press release. The April reading was…
U.S Private Sector Adds 742,000 Jobs in April
U.S private sector employment jumped by 742,000 jobs in April from March, according to the ADP National Employment Report press release. The job adds were the strongest since September 2020…
Famous WallStreetBets Investors Targeted in about $2 Million Cryptocurrency Scam
WallStreetBets forum members were targeted in a cryptocurrency scam exposing them to more than $2 million in losses, according to Bloomberg. Under Telegram account, “WallStreetBets-Crypto Pumps,” users were asked to…
GM Confident of Achieving FY21 Targets after Q1 Revenues of $32.5B
General Motors Co. reported a revenue of $32.5 billion in Q121, down from $32.7 billion in the same quarter of 2020, according to the company’s press release. The company remains…
Galaxy Digital to Acquire BitGo for a Record Crypto Deal of $1.2 Billion
Galaxy Digital Holdings Ltd. seeks to buy BitGo Inc. for a record $1.2 Billion, according to The Wall Street Journal. The deal is the first valued over $1 billion in…
Yellen Abandons Comments on Interest Rate Hikes. Sees No Inflation Issue
There is no certainty on whether the U.S will raise interest rates should President Biden’s $4 trillion spending plan be passed, according to The Wall Street Journal. The comments by…
U.S Asks TSMC to Prioritize its Automakers in Chip Needs as Shortages Bite
The U.S Commerce Department wants Taiwan Semiconductor Manufacturing Co. to prioritize American automakers in chip supply, according to CNBC. Commerce Secretary Gina Raimondo also wants the U.S to heighten investment…
China, Brasil Demand Fueled Corn Prices up 142%. Inflation Worries Raised
Corn prices are now at an eight year high of $7.56 per bushel after surging about 142% in the last year. According to MarketsInsider, the prices have been fueled by…
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