Xpeng Widens Its Loss to $185M in Q2 Amid a Record High in Quarterly Deliveries
(XPeng) XPeng Motors announced a net loss of RMB1.194 billion or $185 million in the second quarter of 2021, higher than a loss of RMB146 million in the same period…
FBI’s Use of Palantir Software Under Scrutiny after The Glitch
(New York Post) Prosecutors at the Manhattan federal court have revealed that a computer glitch in an exclusive software program used by the FBI led to unauthorized access by employees.…
Snowflake Widens Its Loss to $189.8 Million in Q2 FY22 Despite a Jump in Revenue
(Snowflake) Snowflake, Inc.’s net loss increased to $189.8 million in the second quarter of the 2022 fiscal year, from a loss of $77.6 million in the same period of last…
Salesforce Raises Guidance after Revenue Jumps by 23% in Q2 2022
(Salesforce.com) Salesforce reported a second quarter revenue of $6.34 billion, a gain of 23% from the comparable period of last year. For the first half of FY22, Salesforce revenues were…
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…
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