Economic news

On Monday, Lenovo Group Limited (0992.HK) posted its quarterly profit and stated that the firm would continue to benefit from “new normal” remote working setups after the coronavirus pandemic. The Chinese multinational technology company reported a 53% increase in its net profit for the third quarter that ended in September to $310 Million. “Last quarter […]

On Monday, Twitter’s (TWTR) board of directors announced that they support Chief Executive Officer Jack Dorsey on his new plans about the firm’s “current structure.” “The committee expressed its confidence in management and recommended that the current structure remains in place,” the board stated in a regulatory filing. According to the company’s statement, Twitter’s “significantly […]

On Tuesday, the Chinese government halted Ant Group Co’s $37 billion stock market listing due on Thursday. The financial technology company said that its shares sale would be the world’s largest Initial Public Offering (IPO). “Innovation and entrepreneurship should be encouraged, but at the same time, we need to strengthen supervision and include all financial […]

On Monday, Fiat Chrysler Automobiles NV (FCA) reported that it would need to pay 722 Million Euros ($840 Million) to resolve the United States Department of Justice’s (DOJ) investigation regarding its vehicles’ excess diesel emissions. The world’s eighth-largest automaker said that it would also need to pay for regulatory penalties due to the higher fuel […]

On Thursday, Activision Blizzard Inc (ATVI.O) posted its annual adjusted sales forecast. The American video game publisher stated that it would gain strong sales for its upcoming videogame in the blockbuster “Call of Duty” franchise as demand from stay-at-home gamers continues to grow. According to NPD Group’s research, Activision gained $34 billion in videogame sales […]

On Thursday, Twitter Inc. (TWTR.N) reported that it added fewer users than Wall Street had expected. The American social networking company stated that the rise in its expenses would accelerate in the fourth quarter. Twitter said that it expects shares to fall by 16%. Its advertising revenue in the third quarter climbed by 15% to […]

On Thursday, Apple Inc (AAPL.O) reported its most significant quarterly drop in iPhone sales in two years. The American multinational technology company said that most of its consumers decided to put off buying new devices amid the coronavirus crisis. Apple’s shares went down by 5% in the afternoon trade, wiping $100 billion from its stock […]

On Thursday, Delta Air Lines Inc (DAL.N) and its pilot union announced that the airline had reached a preliminary cost-cutting deal that would prevent temporary layoffs until the next two years. Air Line Pilots Association’s unit Delta MEC stated that the agreement still needs approval from its 13,000 pilots. According to the union, the agreement […]

On Thursday, Starbucks Corp (SBUX.O) announced that its earnings forecast in 2021 were above estimates in light of strong demand for online orders and a recovery in the restaurant industry amid the coronavirus pandemic. The American multinational chain of coffeehouses and roastery reserves stated that it was forced to shut down many branches and limit […]

On Friday, world stocks fell continuously while oil headed for a double-digit weekly slide as the market perceived uncertainty due to the rising coronavirus infection rate and the United States’ presidential election next week. “The U.S. election, the extent of further lockdown measures, Brexit negotiations and vaccine news all present both upside and downside risks […]