(Federalreserve.gov) The Federal Reserve chair Jerome Powell has reaffirmed commitment to monetary goals for maximum employment and price stability. Powell pointed out, in a congressional hearing, that the Covid-19 vaccine…
(Citigroup.com) Citi bank reported a net income of $6.19 billion or 2.85 per share for the quarter ended June 30. The profit is an increase from 1.06 billion or 38…
(Reuters) US Senate Democrats have agreed to support Joe Biden’s $3.5 trillion investment plan set to be included in an upcoming budget resolution. The Democrats’ approval happens after closed-door talks,…
(WSJ) Tencent and Alibaba are considering opening up their services to one another as Beijing tightens tech regulations. The move could include lifting restrictions, which currently prevent Alibaba customers from…
(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…
(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) 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) 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…
(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…
(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…
(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…
(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…