Apple Seeks to Unlock Additional Demand with 90M Shipments of New iPhone
(Bloomberg) Apple Inc. targets to produce as many as 90 million next generation iPhones this year, up about 20% from 2020 shipments. Apple has in the past produced about 75…
Annual Inflation Exceeds Expectations to Jump by More than a Decade Fastest Rate of 5.4%
(BLS) US consumer prices showed less signs of slowing down after a 5.4% jump in June from a year ago, the biggest monthly gain since August 2008. The inflation jump…
Pepsi Upgrades 2021 Guidance After Strong Second-Quarter Performance
(Pepsi) Soda giant Pepsi has hiked its guidance for both the sales and earnings this year, following the double-digit climb recorded in the second quarter. Pepsi expects organic revenue growth…
Nokia to Hike 2021 Earnings Guidance After Strong First Half
(Nokia) Finnish multinational tech firm Nokia will hike its financial guidance figures for 2021, following the strength recorded in the second quarter of the year. Nokia previously expected sales between…
Rate Cuts by PBOC Divides Market on Next Moves to Salvage Sluggish Growth
(Bloomberg) Chinese central bank added market uncertainty on Friday after saying it will cut bank reserve requirements by 0.5% amid economic slowdowns. Analysts are uncertain of the extent of China’s…
US Consumers Expect Inflation to Jump to 4.8% in June-Survey
(Federal Reserve NY) Median consumer price expectations rose 0.8% to a record 4.8% at the one-year horizon. The inflation expectations at the three-year horizon were unchanged at 3.6%. The uptick…
Tesla’s Musk Moves to Court to Defend $2.6 Billion Acquisition of SolarCity
(CNBC) Tesla CEO Elon Musk testified in court today defending the company’s $2.6 billion SolarCity acquisition over dispute with shareholders. Shareholders in the case claimed the 2016 deal was a…
Crypto Exchanges Trading Volume Down More Than 40% – CryptoCompare
(CryptoCompare) Cryptocurrency exchanges have witnessed more than 40% slump in trading volumes in June digital tokens. Traders were cautious of China’s crackdown and lower volatilities. Spot trading volumes declined by…
US Consumer Credit Jumps at an Annual Rate of 10% in May
(Federal Reserve) Amounts of consumer credit in the US rose at an annual rate of 10% in May, almost double April’s rate of 5.7%. Revolving credit jumped by 11.4%, up…
Virgin Galactic Stock Takes Off after Branson Makes Successful Space Flight
(Bloomberg) Virgin Galactic extended its bullish run, jumping as much as 10% following a successful space flight of founder Richard Branson on Sunday. Branson landed into the lower reaches of…
Thoma Bravo Enters into Agreement to Buy Stamps.com for $6.6 Billion
(Stamps.com) Software investment firm Thoma Bravo is set to acquire Stamps.com in an all-cash transaction of $6.6 billion. Stamps.com stockholders are set to receive $330 per share in the deal,…
China’s Inflation Slows from May Peak on Commodity Price Interventions
(Bloomberg) China’s producer price index eased to an expansion of 8.8% year over year, after May’s high of 9% on commodity price control measures and stronger dollar. Consumer prices ticked…
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