Moderna Runs Hot to Hit a Record $288.88 on S&P Inclusion Talk
(Bloomberg) Vaccine maker Moderna Inc. jumped about 11% on Friday to reach a new record high of $288.88 after reports of inclusion on S&P 500 surfaced. S&P Dow Jones announced,…
China Sends Taskforce to Probe Didi over “Unauthorized” NYSE Listing
(SCMP) China’s regulatory taskforce has initiated an on-site cybersecurity scrutiny of Didi following its hasty New York listing. The inspection occurs only two weeks after authorities announced plans for cybersecurity…
Yellen Foresees Rapid Inflation that Could be a Concern to House Ownership
(CNBC) US Treasury, Janet Yellen, has warned of rising inflation in several months to come, although she expects the situation to ease in the medium term. Yellen raised concerns that…
Binance Announces Plans to Stop Stock Token Trading on its Platform
(Binance.com) Binance will no longer support stock tokens on its platform starting October 10, 2021 as it shifts to other product offerings. Users holding stock tokens can choose to sell…
Ericsson Enters into $8.3 Billion Deal with Verizon for 5G Network
(Ericsson.com) Telecom’s gear maker Ericsson has agreed to a $8.3 billion deal with Verizon Communications for the deployment of a 5G network in the US. Ericsson is expected to deliver…
Only a Matter of Time For Tesla’s Flying Cars, Says Morgan Stanley
(Seeking Alpha) Morgan Stanley analysts believe it is only a matter of time before American carmaker Tesla Inc. rolls out flying cars. Morgan Stanley Analyst Adam Jonas believes urban air…
Blackstone to Acquire 9.9% Stake in AIG’s Life and Retirement Business
(AIG) Blackstone has agreed with the American International Group Inc. to acquire a 9.9% equity stake in the latter’s Life & Retirement business. AIG will receive $2.2 billion from the…
Philadelphia’s Manufacturing Remain Elevated Despite Index Slip to 21.9 in July
(Federal Reserve Bank of Philadelphia) The diffusion index gauging manufacturing activity in Philadelphia fell to a reading of 21.9 in July from 30.7 in June as activity eased. Firms reported…
Jobless Claims Match Estimates after Falling by 26,000 to a New Pandemic Low
(Department of Labor) US Jobless claims fell by 26,000 to reach a new pandemic low and expected level of 360,000 for the week that ended July 10. The jobless claims…
Bitcoin a Gold Substitute? Former Treasury’s Mnuchin Thinks So after Criticisms
(Cointelegraph) US Treasury Secretary under President Donald Trump, Steven Mnuchin, has expressed support for Bitcoin as a substitute to gold. Mnuchin says the technology behind blockchain is incredible and people…
UK Adds 356,000 Jobs in June with the Reopening of the Economy
(Office for National Statistics) The number of Brits in employment increased by 356,000 in June, signaling an improving economic outlook. The hospitality industry contributed 94,000 food and accommodation jobs with…
China’s Growth Cools to 7.9% in Q2 Amid Robust Factory Expansion
(National Bureau of Statistics of China) China registered a 7.9% growth in the gross domestic product in the second quarter from a year ago, a decline from the 18.3% jump…
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