Take a look at some of the biggest movers in the premarket: Amazon.com (AMZN) – Amazon shares rallied 12.5% in premarket trading after it posted better-than-expected quarterly revenue and issued an upbeat outlook. Amazon logged an overall quarterly loss, owing largely to a $3.9 billion negative impact from its investment in electric vehicle maker Rivian
The head of carmaker Stellantis has warned about growing Chinese government interference in western businesses operating in the country, days after the company ditched its joint venture to manufacture Jeep vehicles there. Carlos Tavares said the “interference of the political agenda has been increasing by the day”, and said that rival carmakers with plants in
A surge in tourism has boosted the eurozone economy more than expected for the second quarter, benefiting Spain, Italy and France even as Germany failed to grow and analysts warned of a darkening outlook. The region’s gross domestic product grew by 0.7 per cent in the second quarter as countries relaxed coronavirus restrictions — much
Inflation has hit its highest level in decades for many countries, with the Ukraine conflict adding upward pressure on energy prices and squeezing households’ real incomes. Russia’s invasion of its neighbour has pushed up energy and food prices at a time when many countries were already registering near-record rates of consumer price growth, leading some
After failing to go live last month, the Cardano (ADA) Vasil hard fork is delayed again as teams behind the Cardano blockchain development target a smooth network upgrade. Input Output Global (IOG), the organization responsible for Cardano’s research and development, released a YouTube update on Thursday on the upcoming Vasil hard fork. IOG technical manager Kevin
In Bitcoin.com News’ inaugural newsletter featuring the biggest crypto and economic news stories from Africa, the head of an African regional central bank, Herve Ndoba, implores the bank’s board to introduce a common digital currency. At the same time, the regional bank warned that the Central African Republic’s bitcoin law is incompatible with regional laws.
West Lake Hills, Texas, is a family friendly city six miles west of Austin’s downtown. Characterized by woodlands, rolling terrain and quiet streets, the Hill Country community has been named the best place to retire in the Lone Star State by niche.com. Despite the rural vibe, hiking and biking trails, parks, restaurants and shopping are
The governance discussion intensifies as decentralized autonomous organizations (DAOs) become more popular in the blockchain space. The dilemma between giving power to a specific few and the freedom to voluntarily delegate decision power was highlighted in a Twitter thread created by Ethereum (ETH) founder Vitalik Buterin. In a tweet, Buterin brought up an old adage
Global stocks headed for their best month since late 2020 as robust results from big tech companies signalled the sector’s resilience to an economic slowdown and traders scaled back expectations of central bank rate rises. The FTSE All World index of developed and emerging market shares jumped 5.8 per cent in July, leaving it on
The Senator who had single-handedly blocked Joe Biden’s climate agenda just a few weeks ago has explained his stunning change of heart this week as a move to protect both US oil and gas and clean energy interests. Backing a historic bill that would set aside $369bn for climate and clean energy programmes, Democratic Senator
Bitcoin (BTC) delivered a swift six-week high into July 29 as the aftermath of the latest macro developments boosted risk assets. Monthly close could seal 20% gains Data from Cointelegraph Markets Pro and TradingView captured local highs of $24,445 for BTC/USD on Bitstamp, its best since the week beginning June 13. After consolidating around $23,000, bulls
Authorities in Iran have revised some rules for the crypto mining industry in order to facilitate its access to green power. Licensed miners will now be able to purchase electricity produced from renewable sources from across the country at lower rates. Cryptocurrency Miners in Iran Allowed to Source Green Energy From Across Country Iran’s Ministry
Good morning. Yesterday I scolded the market for being too enthusiastic about the Fed chair’s comments. Today stocks went up more. It’s almost as if people aren’t listening to me. This is hard on my ego, so email me: robert.armstrong@ft.com. Recession The US economy shrank for the second quarter in a row — on an
Investors were desperate for the slightest sliver of good news from Jay Powell, and it shows. Fund managers were pretty sure that the US Federal Reserve would raise interest rates this week at an increment that just a few months ago would have brought us all out in hives. It duly delivered a 0.75 percentage
For decades, the Kuwait Investment Authority kept a low profile as it garnered a reputation as one of the oil-rich Gulf’s most powerful and respected sovereign wealth funds. But last week, the KIA abruptly sacked Saleh al-Ateeqi, the head of its London investment arm, the Kuwait Investment Office, dragging the secretive fund into the spotlight.
It is almost 11pm on an evening in early June and a group of about 60 gay men have taken over the Enchanted Rose, a cocktail bar at Disney’s upscale Grand Floridian Resort. This is the last stop on the Gay Pride Disney Monorail Crawl, an informal annual get-together that serves as a warm-up for
Meta, the social media company, has reported that its metaverse division, the Reality Labs Unit, is shedding lots of money. In its recent earnings call, the company informed that, while the Reality Labs unit managed to pull more than $400 million in sales, its losses reached $2.8 billion, mainly due to research and development costs
The estimated second-quarter Gross Domestic Product (GDP) data released on Thursday shows the U.S. economy teetering on the edge of recession, with an overall inflation-adjusted GDP decline of 0.2%. If we do get a full-blown recession, it will be tied to the sharp declines in housing and residential investment, which fell by 14% in the
Global investment banks Goldman Sachs and JPMorgan have predicted an imminent recession in the euro area. “The risks to our forecast are skewed toward a sharper recession in the event of an even more severe disruption of gas flows, a renewed period of sovereign stress or a U.S. recession,” said the economists at Goldman Sachs.
Apple’s revenues grew slightly on the back of iPhone sales and its services division despite headwinds from supply chain shortages and factory shutdowns in China. The iPhone maker said revenues had risen 2 per cent from a year ago to $83bn, slightly ahead of analysts’ forecasts for $82.8bn, according to Refinitiv. Apple in April had