Producer Prices up by 1.4% In the Euro Area and EU Fueling Inflationary Concerns
(Eurostat) The Euro area and the EU recorded a 1.4% jump in industrial producer prices in June from May. Compared to June 2020, producer prices rose by 10.2% and 10.3%…
Key Benefits BofA Cite in El Salvador’s Bitcoin Bill Amid Criticisms
(Cryptoslate) The Bank of America is supporting El Salvador’s Bitcoin bill that aims to make the digital currency a legal tender by noting key benefits in the move. BofA says…
Tencent Plunges 11% After Being Called “Spiritual Opium” by Chinese Media
(Bloomberg) Tencent Holdings Ltd. shed as much as 11% on Tuesday following criticisms by China’s official news agency that called it the “spiritual opium.” The Chinese media agency also referred…
EU Regulators Open Probe on Facebook’s Acquisition of Kustomer
(Reuters) The European Union antitrust regulators have opened a full-scale investigation of Facebook’s acquisition of US customer service startup Kustomer. The EU antitrust regulators say the acquisition of Kustomer by…
U.S. Manufacturing PMI Hits a Record 63.4 High in July Amid Inflationary Pressure
(IHS Markit) The US manufacturing PMI was 63.4 in July, an increase from 62.1 in June, the strongest outlook in 14-year history. Demand signaled by new orders rose in July…
Pfizer and Moderna to Charge More for Covid-19 Vaccines in the EU
(Financial Times) Vaccine makers Pfizer Inc. and Moderna Inc. have raised their Covid-19 vaccine prices days after signing new supply contracts in the European Union. Pfizer’s short will now sell…
Supply of Copper at Risk of Disruption as Workers in Biggest Mine Plan a Strike
(WSJ) Workers at Chile’s La Escondida copper mine, which is the world’s largest and producing about 5% of the metal supply, are considering going on a strike. The anticipated strike…
Global Payments Upgrades Guidance as Revenue Jumps 28% In the Second Quarter
(Global Payments) Global Payments announced adjusted net revenues of $1.94 billion in the second quarter, up 28% from the same period last year. Adjusted earnings per share was $2.04, up…
Xpeng’s Vehicle Deliveries Climb at a Record 228% In July
(Xpeng) Vehicle deliveries by Chinese EV maker Xpeng rose at a record 228% year over year to 8,040 in July 2021. Xpeng’s vehicle deliveries in July was 22% higher compared…
HSBC Reports $8.4 Billion Half –Year Profits Despite a $1.2 Billion Decline in Revenue
(HSBC) HSBC’s net revenue for the half-year 2021 was $25.6 million, a reduction compared to $26.7 million reported in the same period last year. The company reported diluted earnings per…
NIO’s Vehicle Deliveries Climb 124.5% Year Over Year in July
(NIO) Chinese EV startup NIO Inc. delivered 7,931 vehicles in July 2021, an uptick of 124.5% compared to the same period last year. NIO’s deliveries consisted of 1,702 ES8s, 3,669…
Square Announces Deal to Acquire Australian Fintech Afterpay for $29 Billion
(Square) Jack Dorsey’s payment company Square seeks to expand in the booming installment loan market with a $29 billion acquisition of Australian fintech entity Afterpay. The all-stock deal represents about…
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