Month: August 2024
Adyen tops profit forecast on market expansion and slower hiring, shares jump
Adyen reported a big miss on first-half sales Thursday. The news drove a $20 billion rout in the company’s market capitalization . Pavlo Gonchar | Sopa Images | Lightrocket | Getty Images Dutch payments company Adyen beat half-year core profit expectations driven by market share gains, slower hiring and lower one-off expenses on Thursday, sending […]
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Biden administration to release prices for first 10 drugs subject to landmark Medicare negotiations
Activists protest the price of prescription drug costs in front of the U.S. Department of Health and Human Services building in Washington, D.C., on Oct. 6, 2022. Anna Moneymaker | Getty Images The Biden administration on Thursday will release prices for the first 10 prescription drugs that were subject to landmark negotiations between drugmakers and […]
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European markets higher as investors digest UK growth, cooler-than-expected U.S. inflation
The London skyline. Vuk Valcic Sopa Images | Lightrocket | Getty Images LONDON — European stocks were higher Thursday, maintaining the week’s positive momentum as investors digest cooler-than-expected inflation readings in the U.S and U.K. The regional Stoxx 600 index was up 0.2% at 9:38 a.m. in London, with healthcare stocks leading gains, up 0.5%. […]
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UK economy expands 0.6% in second quarter; June growth stalls
A guided tour in the center of in York, UK, on Friday, June 7, 2024. Bloomberg | Bloomberg | Getty Images The U.K. economy grew by 0.6% in the second quarter of the year, the Office for National Statistics said Thursday, continuing the country’s cautious recession rebound. The reading was in line with the expectations […]
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North Korea to reopen for international visitors, tour operators say
North Korea will resume international tourism this winter, ending a COVID-era ban on travelers, according to operators that organize trips to the country. Travel companies KTG and Koryo Tours, which organize trips to North Korea, said on Wednesday that their partners in the country had informed them about government plans to allow travel to some […]
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Ukraine must decide how its Russian incursion ends — advance further or retreat before it’s too late
Ukrainian servicemen operate a tank on a road near the border with Russia, in the Sumy region of Ukraine, on August 14, 2024. The Ukrainian army entered Russia’s Kursk region on August 6, capturing dozens of settlements in the biggest offensive by a foreign army on Russian soil since World War II. Roman Pilipey | […]
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Tencent-backed Airwallex nears $500 million annualized sales, aims to get IPO-ready by 2026
Airwallex, which was most recently valued at $5.5 billion and is backed by Tencent, has been tipped as one of many prominent fintech IPO candidates. Jose Sarmento | Bloomberg | Getty Images Tencent-backed payments startup Airwallex is nearing an annual revenue run rate of $500 million and will look to get ready for an initial […]
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Harris to propose federal ban on ‘corporate price-gouging’ in food and groceries
U.S. Vice President Kamala Harris delivers remarks during a campaign event at West Allis Central High School, in West Allis, Wisconsin, U.S., July 23, 2024. Vincent Alban | Reuters WASHINGTON — Vice President Kamala Harris plans to propose the first-ever federal ban on “corporate price-gouging in the food and grocery industries,” her campaign announced late […]
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Walmart reports its earnings before the bell. Here’s what to expect
Walmart will report quarterly earnings on Thursday, as investors and economists seek clarity about the health of American households and the outlook for the broader economy. Here’s what analysts are expecting for the big-box retailer, according to consensus estimates from LSEG: Earnings per share: 65 cents Revenue: $168.53 billion As the nation’s largest retailer, Walmart […]
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Bank of Japan will take longer to hike rates given the yen’s rapid strengthening, BMI says
An editorial montage of the Japan flag and Japanese yen cash bank notes. Javier Ghersi | Moment | Getty Images The Bank of Japan will adopt a more cautious approach to hiking interest rates to avoid rapid appreciation in the yen after the recent global market turmoil, Fitch Solutions’ BMI said in a recent note. […]
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