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US Treasury rates fall as investors focus on Fed’s January monetary policy meeting

• 10-year Treasury note falls 4 basis points  • 30-year Treasury bond yield drops 3 basis points  The Treasury yield in the United States fall on early Friday morning after increasing to its highest p...

By  Ishika Dangayach On  2022-01-21 16:23:00
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US lawmakers criticize Tesla’s showroom in Xinjiang

• Democrats Bill Pascrell, Jr. and Earl Blumenauer wrote a strongly worded letter to Tesla CEO Elon Musk • They questioned Tesla on its plans to expand in China and its financial relations with compan...

By  Yashasvini On  2022-01-21 02:41:00
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McDonald's expands testing of 'McPlant' burger created with Beyond Meat

• McDonald's expanding McPlant trial to ‘understand customer demand' in US • McPlant burger uses a patty made from peas, rice, and potatoes to mimic the taste and texture of beef McDonald's Corp (NYSE...

By  Arghyadeep On  2022-01-20 22:19:00
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Sony’s stock drops 5% after Microsoft-Activision deal

• On Tuesday, Microsoft offered to pay $95 per share, in an all-cash deal to Activision • Analysts believe that this deal marks the rise of tough competition against Sony Sony Group Corp's (NYSE: SONY...

By  Yashasvini On  2022-01-20 02:24:00
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Unilever refuses to increase 50-billion-pound buyout offer for GSK consumer arm

• Analysts expect a bid of over 60 billion pounds can win the backing of GSK's board • GSK R&D chief Hal Barron, who oversees drug development, to step down in August British multinational consumer go...

By  Arghyadeep On  2022-01-20 01:31:00
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Peloton insiders sold shares worth $500 million before the stock’s fall

• The company's CEO and other executives sold millions of shares at prices over $100 a share before the stock fell • CEO and co-founder, John Foley, sold $119 million worth of stock starting in Novemb...

By  Yashasvini On  2022-01-20 00:15:00
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P&G earnings beat expectations as price increases, boosts its 2022 sales projection

• Net sale increases by 6% to $20.95 billion • Baby, feminine, and family care division sales amplify by 5%  • Fabric and home care product sales improve by 7 % Procter & Gamble (NYSE: PG) posted quar...

By  Ishika Dangayach On  2022-01-19 22:31:00
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British digital banking startup Revolut launches app-based US trading platform

• Shares of Robinhood and Charles Schwab fell after Revolut announced the trading app • Revolut said nothing "would look or feel like gamification" in the app London-based fintech and digital bank Rev...

By  Arghyadeep On  2022-01-19 22:11:00
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China prepares to draft escrow account usage rules to resolve the real estate sector’s cash crunch: Reuters

• The real estate sector's main regulator, along with the Financial Stability and Development Committee are drafting the new rules • Escrow accounts hold 50%-70% of developers' pre-sale funds To resol...

By  Yashasvini On  2022-01-19 22:03:00
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Morgan Stanley reports higher Q4 profit due to robust equities trading revenue

• Profit rises 9.2 % year on year to $3.7 billion or $2.01 per share • Investment banking revenue increases 6% to $2.43 billion Morgan Stanley (NYSE: MS) reported higher-than-expected fourth-quarter e...

By  Ishika Dangayach On  2022-01-19 21:07:00
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US Treasury yields surge amid market speculation over interest rate hikes

The Treasury yield in the United States surged to its highest point since December 2019 on Wednesday morning as the Federal Reserve will soon begin raising interest rates. The yield on the benchmark 1...

By  Ishika Dangayach On  2022-01-19 19:00:00
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‘The pandemic will not end’, says WHO

• WHO dismissed the rumours that suggested that omicron is the last variant • WHO warned against relaxing public health measures and stressed the need to  strengthen them to control the spread of infe...

By  Yashasvini On  2022-01-19 02:37:00
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Microsoft to buy game developer Activision for $69 billion in push for metaverse

• Microsoft CEO said that about 3 billion people worldwide play video games, hinting at the market depth of the gaming industry • The deal is a 45% premium to Activision's Friday close Microsoft Corp ...

By  Arghyadeep On  2022-01-19 02:32:00
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U.S. mortgage rates jump to the highest level since April 2020

• Mortgage rates rose this week • 30-year average crossing over 3.916% early this week, increasing from 3.74% a week ago U.S. mortgage rates rose last week, raising the 30-year rate to 3.7%, its highe...

By  Yashasvini On  2022-01-19 00:38:00
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Ericsson sues Apple again over 5G patent licensing infringement

• Ericsson filed two lawsuits covering 12 separate patents • Apple has filed a lawsuit against Ericsson in December after the latter sued iPhone maker in October Telecom company Ericsson has sued Appl...

By  Arghyadeep On  2022-01-18 21:25:00
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Fourth Pfizer COVID-19 shot less effective on Omicron, Israeli trial suggests

• Preliminary data found the second booster did increase antibodies • Those with fourth shot only slightly less likely to get Omicron A fourth shot of the COVID-19 vaccine manufactured by Pfizer Inc (...

By  Arghyadeep On  2022-01-18 02:47:00
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Lawsuit filed against Amazon for worker’s death by tornado

• The lawsuit was filed by the family of delivery truck driver who died in the Amazon warehouse • Six Amazon workers died in Illinois due to tornadoes Amazon (NYSE: AMZN) was hit by a lawsuit on Monda...

By  Shubhangi On  2022-01-18 02:39:00
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Pharma giant GlaxoSmithKline rejects Unilever’s $69 bln offer for Advil unit

• Glaxosmithkline's shares rose by nearly 3% after the announcement • Unilever's shares fell more than 8%, highlighting investors' doubts regarding the sale GlaxoSmithKline's (NYSE: GSK) shares rose b...

By  Yashasvini On  2022-01-18 02:26:00
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Ford signs five-year deal with Stripe for e-commerce drive and online payment overhaul

• The deal is the part of Ford's turnaround plan under CEO Jim Farley • Ford will use Stripe to handle online transactions for vehicle orders and reservations, digital and charging services Online pay...

By  Arghyadeep On  2022-01-18 00:53:00
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Evergrande’s blows weaken Country Garden’s dollar bonds

• Country Garden's longer-dated bonds fell to nearly 69 cents on the dollar as of late Friday.  • Its share price fell nearly 8.1% to HK$5.87 in Hong Kong China's largest developer by contracted sales...

By  Yashasvini On  2022-01-17 22:16:00
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