US Manufacturing Remains Robust, but PMI Eases to 61.1 in August
(IHS Markit) US Manufacturing PMI hit 61.1 in August, down from 63.4 in July, the lowest in four months, but one of the strongest in the series history. The robust…
Google Moves to an In-House CPU Development for PCs and Tablets
(Nikkei Asia) Tech giant Google is making its own central processors for laptops and tablets as it shifts to in-house development to become competitive. The move by Google is part…
Private Employment Misses Estimates after a Jump of 374,000 in August
(ADP National Employment) US private-sector employment rose by 374,000 in August from July, a lower gain compared to an expected increase of 600,000. Medium businesses added the most jobs at…
NIO Records a 48.3% Jump in Deliveries in August but Cuts Outlook on Chip Issues
(Nio Inc.) Nio Inc. delivered 5,880 vehicles in August this year, up 48.3% from the comparable month of 2020. The deliveries consisted of 1,738 ES8s, 2,342 ES6s, and 1,800 EC6s.…
Beijing-Backed Firms Courts Major Stakes in Ant’s JV that Revives IPO Hopes
(Reuters) Chinese government-backed firms are eyeing major stakes in Ant Group joint venture with Zhejiang Tourism Investment Group that could come as soon as October. Ant’s IPO with Zhejiang aims…
Cathie Wood’s Ready to Debut New ETF Built on ESG Goals
(Bloomberg) Cathie Wood’s Ark Investment Management’s Transparency ETF could debut this year upon approval by the regulator.The new ETF will closely follow an index that excludes alcohol, gambling, banking, oil,…
Supply Shortages Push Germany’s Manufacturing PMI to a Six-Month Low in August
(IHS Markit) Germany’s manufacturing PMI hit a six-month low of 62.6 in August, from 65.9 in July as manufacturers struggled to meet demand due to supply constraints. Output sub-index fell…
Eurozone Manufacturing Slips to 61.4 in August Amid a Slower Inflation Rate
(IHS Markit) The Eurozone manufacturing PMI dipped to 61.4 in August from 62.8 in July, a second consecutive month of slowing growth. The growth at the investment goods manufacturers remained…
UK Manufacturing Activity Hits a 5-Month Low in August as Supply Constraints Bite
(IHS Markit) UK’s Purchasing Managers Index plunged to 60.3 in August to mark a five-month low, from July’s 60.4. The fall in manufacturing activity reflected continuing supply constraints, with input…
UK House Prices Mark the Second Fastest Gain in 15 Years Despite End of Stamp-Duty
(Nationwide House Price Index) UK house prices reached an average price of 248,857 in August, a 2.1% surge from July and the second-largest increase in 15 years. On an annual…
China’s Manufacturing Shrinks as Manufacturing PMI Plunges to 49.2 in August
(Caixin) China’s General Manufacturing PMI entered the contractionary zone at 49.2 in August, down from 50.3 in July as Covid-19 clouded activity. The PMI marks the first time of deterioration…
Crowdstrike Almost Doubles Losses to $57.3 M in Q2 Despite a Jump in Revenues
(Crowdstrike) Crowdstrike announced a net loss of $57.3 million in the second quarter of the fiscal year 2022, compared to a loss of $29.9 million in the same period last…
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