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Frontier Group (ULCC) to acquire Spirit Airlines for US$6.6 billion
February 07, 2022 11:35 AM PST| By Rupam RoyThe Colorado-based airline holding company, Frontier Group Holdings, Inc (NASDAQ: ULCC), is acquiring its rival Spirit Airlines Inc. (NYSE: SAVE) for US$6.6 billion in a cash-and-stock deal. The purchase is expected to help Frontier compete with l.....
Amazon (AMZN), Meta (FB) epic gain, loss – case of want and necessity?
February 05, 2022 07:40 PM PST| By Sanjeeb BaruahHighlights Amazon Inc (AMZN) closed the week with its biggest single-day gain of US$191 billion. Meta Inc’s (FB) stock rout wiped out more than US$250 billion in market value. PetroChina Co holds the record for daily gain at US$597 bill.....
Can Fed rate hikes impact emerging markets?
February 05, 2022 05:52 AM PST| By AshishHighlights Kristalina Georgieva, managing director of the IMF, recently said interest rate hikes by the Fed could have an impact on global recovery. She feared that escalated interest rates in the US could make repayment costlier for econom.....
Chip firms see supply tension even with production boost in 2022
February 04, 2022 11:49 PM PST| By Versha JainHighlights Automakers like Ford Motor Co and General Motors anticipate the semiconductor shortage to improve in the second half of 2022. But the supply tension is expected to persist even with a production boost this year. The House on.....
Protests, diplomatic boycotts overshadow Beijing Winter Olympics
February 04, 2022 11:43 PM PST| By Versha JainHighlights According to BBC, China has issued no tickets to the common public, but only to the members of the Communist Party and the state-run company officials. Diplomats from around a dozen countries, including the US, the UK.....
Volvo, Northvolt to build US$3.3-bn battery gigafactory in Sweden
February 04, 2022 04:27 PM PST| By Rupam RoyHighlights The plant’s construction, which includes an R&D center, will begin next year. The batteries for Volvo and Polestar models are expected to start in 2025. The new facility would create 50-gigawatt-hour (GWh) of battery c.....
S&P, Nasdaq rise after Amazon.com Inc (AMZN) earnings, jobs report
February 04, 2022 02:53 PM PST| By Team Kalkine MediaThe S&P 500 index and Nasdaq Composite closed in the green, while Dow Jones marginally declined on Friday, February 4, after Amazon’s strong earnings and positive jobs report. The S&P 500 rose 0.52% to 4,500.53. The Dow Jones fel...
Is Meta Platforms’ (FB) US$250-bn loss biggest wipeout in US history?
February 04, 2022 11:58 AM PST| By Versha JainHighlights Meta Platforms, Inc. (FB) lost around US$250 billion in market value in a single day. The Dow Jones US Technology Total Stock Market Index’s total YTD decline widened to 10.97% after the stock rout. Meta&.....
Snap Inc (NYSE: SNAP) nixes iPhone privacy fears - answer to Meta woes?
February 04, 2022 08:58 AM PST| By Rupam RoyHighlights Snap Inc forecasts revenue of US$1.03 billion to US$1.08 billion in Q1, FY22. It expects daily active users to be in the range of 328 million to 330 million. The company reported its first positive net income since its IPO in March .....
Amazon (AMZN) rides Rivian stake to US$14.3-bn profit, raises membership fees
February 03, 2022 04:38 PM PST| By Sanjeeb BaruahAmazon.com Inc (AMZN) on Thursday posted a fourth-quarter profit of US$14.3 billion, boosted by a pre-tax gain from its stake in electric vehicle maker Rivian Automotive. The stock rose as much as 15% in the after-market hours after dipping nearly.....
US stocks close in red after Meta (FB) rout, Zuckerberg loses US$29 bn
February 03, 2022 03:00 PM PST| By Versha JainBenchmark US indices closed in the red on Thursday, February 3, after Mark Zuckerberg-led Meta Platforms, Inc lost roughly US$200 billion in market value in a massive stock rout. Shares of other tech companies, such as Amazon.com, Google, and Spotif...
What is NFT? How to create and sell?
February 04, 2022 04:14 AM AEDT| By Versha JainNon-fungible tokens (NFT) shot into the limelight after some of them were sold at eye-popping price tags, showing their enormous earning potential. For instance, Beeple sold an NFT titled "Everyday: The First 5000 Days" for an astounding US$.....
Jeff Bezos gets Dutch bridge dismantled to make way for his yacht
February 03, 2022 06:12 AM PST| By Sanjeeb BaruahAmazon.com, Inc (AMZN) founder Jeff Bezos is bearing the cost of taking apart a historic Dutch bridge so his US$485-million superyacht can pass, it was revealed this week. Rotterdam officials agreed to dismantle the steel Koningshaven bridge that .....
US stocks close higher after strong Alphabet (GOOGL) earnings
February 02, 2022 03:23 PM PST| By Versha JainBenchmark US indices closed higher on Wednesday, February 2, after tech giant Alphabet Inc’s strong quarterly earnings the day before, lifted by the robust internet ad sales. The S&P 500 rose 0.94% to 4,589.38. The Dow Jones gained 0.63% t...
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Investors jittery after PayPal’s (PYPL) dim forecast, eBay deals reduce
February 02, 2022 09:18 AM PST| By Rupam RoyHighlights PayPal’s total payment volume increased by 23% YoY in the fourth quarter of FY21. The revenue climbed 13% YoY in the same period. But it provided weak guidance for the first quarter of fiscal 2022. Payment processing comp.....
Alphabet caps blockbuster year with strong sales, declares stock split
February 01, 2022 03:27 PM PST| By Sanjeeb BaruahGoogle's parent company Alphabet Inc. (GOOG) reported another quarter of solid growth, capping the final three months of fiscal 2021 with a 32% jump in sales to US$75.3 billion despite antitrust hurdles. Shares of Alphabet jumped more than 7% in a.....
US stocks edge higher on strong quarterly earnings
February 01, 2022 02:10 PM PST| By Versha JainBenchmark US indices closed in the green for the second consecutive day on Tuesday, February 1, after strong quarterly earnings and upbeat labor data lifted sentiment. The S&P 500 rose 0.69% to 4,546.54. The Dow Jones gained 0.78% to 35,405.24....
Microsoft's US$68.7 billion mega-deal for Activision under cloud?
February 01, 2022 01:48 PM PST| By Sanjeeb BaruahThe Federal Trade Commission (FTC) is expected to open an antitrust probe into Microsoft Corporation’s US$68.7 billion mega-deal to acquire gaming company Activision Blizzard Inc (ATVI), media reports said. According to a person familiar wit.....
Can McDonald's (MCD) influence food companies to enter metaverse?
February 01, 2022 06:27 AM PST| By Rupam RoyFast-food chain McDonald's Corporation is celebrating the Chinese Lunar New Year with a specially created Metaverse-themed VR exhibition inspired by Zodiac signs. McDonald's on Tuesday greeted the citizens with a metaverse-themed exhibition as the.....
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Global inflation pressures may ease in next 12-18 months, says OECD
February 01, 2022 01:33 AM PST| By Team Kalkine MediaHighlights Global inflation pressures would ease over the next 12 to 18 months, as per the OECD. The OECD sees rebalancing of the global demand and supply equation. Global economy has recovered well after being hit badly by COVID-19 pandemic. .....
