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What you need to know about Andy Jassy, Amazon’s Next CEO
February 04, 2021 01:46 PM AEDT| By Team Kalkine MediaAmerican multinational technology company Amazon is undergoing a major transformation, as Founder Jeff Bezos is all set to step down as the CEO after starting his journey some 27 years ago. Bezos, who went on to become the world’s richest man.....
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Wall Street rally continues on strong corporate earnings
February 04, 2021 08:58 AM AEDT| By Kunal SawhneyThe major Wall Street equity indices extended their rally to the third consecutive day on Wednesday on strong corporate earnings and better-than-expected hiring data. Shares of Google’s parent Alphabet closed up 7.28 per cent after the compan.....
Spacex‘S Starship Explodes During Second Test Flight Landing, FAA To Launch Probe
February 04, 2021 03:26 AM AEDT| By Kunal SawhneyElon Musk’s private space company SpaceX’s next-generation Starship rocket -- Starship prototype Serial Number 9 (SN9) -- though launched successfully on 2 February, exploded while attempting to land after a development test fli.....
Global tech tax: EU officials join US counterparts for early rollout
February 04, 2021 12:03 AM AEDT| By Kunal SawhneyA global tech tax is in the works, which means tech giants around the world will be hit with higher taxes, after the European Union officials had a detailed discussion with US treasury secretary Janet Yellen and German Finance Minister Olaf Scholz .....
Hormel is eyeing to buy Kraft Heinz’s brand Planters
February 03, 2021 09:55 PM AEDT| By Team Kalkine MediaThe Kraft Heinz Company (NASDAQ: KHC) is in talks with Hormel Foods Corporation (NYSE: HRL) to sell its Planter snack business for $3 billion. The deal might be finalised in the new few weeks as Hormel is .....
Exxon Mobil Shifts Gears to Clean Technologies Amid Investors’ Pressure
February 03, 2021 08:58 PM AEDT| By Team Kalkine MediaUS oil and gas giant Exxon Mobil announced a new business venture called ExxonMobil Low Carbon Solutions focusing on low-emission technologies. The company pledged to invest US $3 billion till 2025 in carbon capture storage and other low emissions .....
T-Mobile Finalises Price to Buy Shentel Wireless Business
February 03, 2021 08:42 PM AEDT| By Team Kalkine MediaMobile telecom company T-Mobile has finally settled upon a price with Shentel or Shenandoah Telecommunications Company to purchase its wireless assets. T-Mobile is expected to shell out $1.95 billion for acquiring Shentel’s wireless business......
Buying frenzy cools off; is there any steam left in GameStop short squeeze?
February 03, 2021 06:34 PM AEDT| By Kunal SawhneyThe rally in GameStop has probably come to an end as the share price tanked by a massive 60 per cent on Tuesday and closed the session at US$90. The unprecedented volatility seen in this counter is still quite high. However, it is the first time si.....
Myanmar Coup Explained: Here’s What Exactly Happened
February 03, 2021 05:19 PM AEDT| By Hina ChowdharyThe reports of an unfolding military coup in Myanmar have shocked the world. The military has reportedly detained National League for Democracy (NLD) party's prominent leader Aung San Suu Kyi and other leaders. Suu Kyi won the November 2020 polls .....
Who is replacing Jeff Bezos as Amazon CEO?
February 03, 2021 03:05 PM AEDT| By Team Kalkine MediaEven before coronavirus pandemic, Amazon CEO Jeff Bezos had lowered his participation in the company's day-to-day operations. On Tuesday, Amazon announced that Bezos would step down and take up the role of executive chairman. The company announced .....
Oil Giant BP Posts Dismal Annual Performance; Q4 Numbers Improve
February 03, 2021 01:33 PM AEDT| By Kunal SawhneyGlobal oil & gas trading giant British Petroleum (BP) has announced the fourth-quarter and full-year 2020 results. The Company registered an underlying replacement cost profit of $0.1 billion in Q4 ended 31 December 2020, which remained in...
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Apple Taps Bond Market for the Third Time Amidst Aggressive Share Buybacks and Dividends
February 03, 2021 01:08 PM AEDT| By Team Kalkine MediaApple Inc plans to sell USD 14 billion worth of bonds in order to take advantage of the current cheap borrowing cost, tapping the market for the third time since May 2020. while funding operations like share buybacks. Image Source: © Kalkine...
Will tough times force oil majors ExxonMobil and Chevron into a merger?
February 03, 2021 11:18 AM AEDT| By Team Kalkine MediaThe crude oil prices' dismal situation during the peak of COVID-19 got the chief executives of two major oil companies ExxonMobil (NYSE:XOM) and Chevron (NYSE:CVX) across the table to discuss a possible merger. According to medi.....
US stocks extend gains after GameStop reversal continues
February 03, 2021 08:45 AM AEDT| By Hina ChowdharyExtending gains to the second straight day, the US stocks jumped on Tuesday after a sharp reversal in GameStop’s stock value continued. The mania around speculative retail trading continued to ease in the market after the video game stock fel.....
Elon Musk Announces Temporary Break From Twitter
February 03, 2021 08:18 AM AEDT| By Team Kalkine MediaTesla CEO Elon Musk’s decision to keep off Twitter for a while has generated quite a bit of interest among his avowed followers on social media on Tuesday. The Tesla CEO has been active on Twitter recently with his animated comments on a var.....
Wheels Up eyes NYSE with enterprise value of $2.1 billion
February 03, 2021 01:18 AM AEDT| By Kunal SawhneyWheels Up, the New York-headquartered private aviation firm, has been eyeing to list on the New York Stock Exchange (NYSE) with the company notching an enterprise value of $2.1 billion after its merger with Aspirational Consumer L.....
GME shares tank after short squeeze; 4Q earnings due
February 02, 2021 04:41 PM AEDT| By Team Kalkine MediaGameStop shares lost track on Monday in the US, closing nearly 31% lower at $225. In the after-hours trading, the stock took a further plunge of 15.77%. The recent momentum in silver prices has also cooled off after CME raised margins on the precio.....
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Robinhood raises USD 3.4B to support its burgeoning customer base
February 02, 2021 03:56 PM AEDT| By Hina ChowdharyOnline trading app Robinhood had an exceptional run during the pandemic as it experienced exponential growth last year. To invest in its growing customer base, the fintech company raised USD 3.4 billion through a private placement. The funding come.....
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Silver lining for Wall Street: US shares rebound as silver gets attention
February 02, 2021 09:04 AM AEDT| By Kunal SawhneyThe US shares rebounded on Monday after retail traders shifted their focus to silver, driving up mining stocks. The quick recovery comes after a steep slump in the benchmark Wall Street indices amid concerns around speculative trading frenzy and no.....
More Borrowing & Disinvestments in India’s 2021 Union Budget
February 01, 2021 11:31 PM AEDT| By Kunal SawhneyCanada and the US, which have a significant population of Indian origin, showed a keen interest in India’s annual budget presented in parliament on Monday by Finance Minister Nirmala Sitharaman. The Indian budget has drawn keen inter.....
Canadian AI All-Stars: Unveiling the Top Stocks for 2025