The U.S. economy is expected to post another roaring growth spurt in the second quarter, before a slow and steady dose of reality starts to sink in. Gross domestic product is projected to accelerate 9.2% for the April-to-June period, according to a FactSet survey. The Commerce Department will release its first estimate for second-quarter GDP […] Read more
General Motors expects the ongoing semiconductor chip shortage and rising inflation to increase its expenses during the second half of the year by up to $3 billion, CFO Paul Jacobson said Wednesday afternoon. The additional costs include a greater-than-expected hit from the parts shortage during the third quarter as well as rising commodity prices that will […] Read more
Bitcoin and other digital currencies plunged on Friday as a proposed capital gains tax hike from U.S. President Joe Biden led to a wave of selling. Bitcoin was down 7.3% at $49,730, according to Coin Metrics data. It’s the first time bitcoin has traded below $50,000 since early March. Ether fell to $2,320, down 8%. XRP, the fifth-biggest cryptocurrency, […] Read more
The chief executive of Germany’s Daimler believes the automaker will face stiff opposition from tech giants like Google, Apple and Alibaba if they decide to launch their own electric vehicles. While the tech giants are yet to start selling their own cars, reports suggest they could soon launch products that combine hardware and software as the electric vehicle race heats up. “There […] Read more
Real estate in post-COVID era: 5 trends defining the growth of luxury housing in India Distinguished buyers are looking to upsize as they are getting to spend more time at home and looking to invest in services that bring them the quality of life without compromising on the luxury quotient. This consumer trend arises from […] Read more
Predictions usually include some element of aspiration. It’s not just what we think will happen, but also a reflection in some way, shape or form, of what we hope will happen. If there’s a common theme to this year’s annual list of predictions, is that we’re all hopeful about 2021. I’ve grouped all predictions this […] Read more
Moderna said Monday it will request emergency clearance from the Food and Drug Administration for its coronavirus vaccine after new data confirms the vaccine is more than 94% effective in preventing Covid-19 and was safe. Moderna will be the second drugmaker to seek emergency use from the FDA after Pfizer, another front-runner in the Covid-19 vaccine race, applied for the […] Read more
No one could have predicted what Covid-19 would mean for us, how it would change our working lives and how we would have to come up with new ways to keep businesses going, growing and thriving. The pandemic has been (and continues to be) a very difficult time for many, but one thing is for […] Read more
Traders monitor financial data near the downward trajectory of the DAX Index curve inside the Frankfurt Stock Exchange, operated by Deutsche Boerse AG, in Frankfurt, Germany, on Monday, March 2, 2020. Bloomberg | Getty Images German defense supplier Hensoldt saw its shares slide on Friday morning as its market debut got underway in Frankfurt. The company, once […] Read more
Ant Group, an affiliate of Alibaba, has given the first look at its financials ahead of its highly-anticipated initial public offering (IPO). The financial technology powerhouse, which is still controlled by Alibaba founder Jack Ma, reported profit of 21.9 billion Chinese yuan ($3.2 billion) on total revenues of 72.5 billion yuan in the first half of […] Read more
