Musk’s Tweet Reveals Why Tesla Sold 10% Worth of Bitcoin
Tesla wanted to show bitcoin’s liquidity and its qualities as a substitute to cash by disposing 10% of the crypto value, reports Bloomberg. Through a tweet, CEO Elon Musk said…
U.S. Consumer Confidence Index Jumps Again to Hit 121.7 in April
U.S. consumer confidence index reached 121.7 in April, up from 109.0 in March, according to the Conference Board press release. The index is now at the highest level since February…
Adobe Announces Updated Software That Replaces Third-Party Cookies
Adobe Inc. seeks to help brands target customers with its new version of Real-Time Customer Data Platform, according to Bloomberg. The software replaces the much-criticized third-party cookies. The updated software…
Amazon Stock Soars on Speculations of Stock Split as Early as This Week
Amazon stock gained 2.1% on Monday after Fox Business’s Charles Gasparino said the company is likely to have a stock split this year, Seeking Alpha reports. In a tweet, Gasparino…
Apple’s Gets Closer to its Own Chipset with Next Generation Mac Processors
Apple could start mass production of the next generation of Mac processors this month, according to NIKKEI Asia. The production will be a leap towards the replacement of Intel-designed central…
HSBC Releases Q1 Results. Profit after Tax Jumps 82%
HSBC reported a profit after tax of $4.6 billion in the first quarter, up 82% from the same quarter last year, according to the company’s press release. The company released…
Washington Agrees to Share 60M Doses of AstraZeneca Vaccine
The U.S plans to share about 60 millions doses of AstraZeneca vaccine with the rest of the world according to The Wall Street Journal. Officials also explore an urgent need…
UBS Seeks More Transparency with Clients at it Reveals $861 Million Archegos Loss
UBS Group AG incurred a loss of $861 million from the Archegos Capital Management collapse, according to Bloomberg. The bank said it will improve on risk management including strengthening transparency…
Texas Tipped for Two More House Seats in Constitutional Congressional Reshuffling
Thirteen states are likely to gain or lose seats in the U.S House in next year’s elections based on a formula set in a 1941 law, according to The Wall…
Tesla Revenue Jumps 74% on Record Deliveries but Earnings Remain Below Estimate
Tesla recorded a revenue of $10.4 billion in the first quarter, up 74% from the same period last year, according to the company’s press release. Net profit jumped from $16…
More Economists Expect Fed to Taper with Bond Buying this Year-Survey
45% of economists see the Federal Reserve tapering with bond purchases in the fourth quarter, according to Bloomberg Quint. The number reflects a hawkish shift from March when more economists…
Goldman Tips U.K for Faster Growth than US. Upgrades Growth Forecast of 7.8%
Goldman Sachs has upgraded U.K’s growth to 7.8% in 2021, up from 6.8% it set in February, according to CNBC. With the upgraded forecast, Goldman expects faster recovery in the…
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