Best Buy Upgrades Guidance after Revenue Rose by 20% in Q2 FY22
(Best Buy) Best Buy Co. Inc. announced net revenue of $11.9 billion in the second quarter of the 2022 fiscal year, up from net revenue of $9.9 billion in the…
JD.com Surges 15%, Leading other Chinese Stocks in Rally after Regulatory Clarity
(CNBC) Shares of e-commerce giant JD.com rose almost 15% on Tuesday as investors got a little clarity on the regulatory outlook after the passage of a major anti monopoly law.…
Pfizer-BioNTech’s Covid Vaccine Becomes the First to Get Full FDA Approval
(CNBC) US Food and Drug Administration has granted full approval of Pfizer-BioNTech Covid-19 shots. The approval means that Pfizer and BioNTech become the first in the US to win full…
Existing Home Sales Soar 2% in July as All Regions Avoid Slump
(NAR) Existing home sales in the US recorded a 2% jump from June to July, with the annual rate in the month reaching 5.99 million. On a year over year…
US Output PMI Eases to an Eight-Month Low with a Record Inflation
(IHS Markit) The US Composite Output Index dropped to an eight-month low of 55.4 in August, from 59.9 recorded in July. The output was weighed down by supply shortages and…
China’s Ansteel’s 51% Stake in Benxi Steel to Make it Third-Biggest Globally
(Bloomberg) China is set to dominate the global steel making, with 51% stake by Ansteel Group in Benxi Steel Group Co. set to make it the third-biggest steel maker in…
UK’s Private Sector Output Hits a Six-Month Low as Supply Constraints Bite
(IHS Markit) The UK Composite Output Index hit a six-month low of 55.3 in August, from 59.2 in July as activity slowed due to supply chain constraints and staff shortages.…
Iran to Resume Crypto Mining Next Month after 4-Month Ban
(Beincrypto) Iran government will end ban on cryptocurrency mining starting September 22, as it expects massive power consumption to cool down then. Iran had banned crypto mining activities in the…
PayPal Starts Crypto Services in the UK after Weeks of Speculation
(PayPal) PayPal users in the UK can now buy, hold, and sell cryptocurrencies through the digital wallet. PayPal cites the “digitization of money,” especially during the Covid pandemic as key…
Battery LG Chem Tumbles on Investor Concerns of GM’s Recall of 73,000 Cars
(Reuters) Shares of battery maker LG Chem plunged 10% on Monday following news that General Motors Co. would recall 73,000 Chevrolet Bolt cars. LG Chem was weighed by the news…
Coinbase Makes a Test Case of Investing in Crypto
(Coinbase) Coinbase has said it will allocate 10% of its quarterly net income into cryptocurrencies in a move aiming to encourage their adoption. The new policy by Coinbase will see…
Uber Acquires HKTaxi App to Enter the Hong Kong Cab Market
(SCMP) US ride hailing giant Uber has bought Hong Kong’s most popular cab app HKTaxi as it pushes to gain traction in the local market. With access by at least…
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