An employee works on the production line of the pharmaceutical company Zentiva in Prague, Czech Republic, May 6, 2021. David W. Cerny | Portal “We enter the year underweight,” said Sam Stovall, chief investment strategist at CFRA. “There’s a lot of resistance and they have to overcome that resistance because a lot of investors might … [Read more…]
Japanese steel giant Nippon Steel’s plans to buy Pittsburg-based US Steel have faced opposition from both Democratic and Republican lawmakers – and now the Joe Biden administration. The bipartisan opposition to the $14.9 billion deal appears to be at odds with the fundamental American commitment to free markets and unrestricted entrepreneurship. Critics of the deal … [Read more…]
Hyperloop One, the futuristic transportation company (in case you forgot) that promised to carry passengers and cargo from city to city in vacuum-sealed tubes at jet speeds, is officially over — but this time it’s real. The vaunted, long-struggling company will officially close its doors on December 31, according to Bloomberg. It was all a … [Read more…]
Florence Lo/Portal In this illustration image, a Tencent Games app logo is seen on a mobile phone. Portal/Florence Lo/Illustration Hong Kong CNN – Shares of several Chinese tech giants slumped in Hong Kong on Friday, shedding billions from their total value, after Beijing unveiled a series of new regulations to curb online spending in the … [Read more…]
2 hours ago Inflation rate in Malaysia reaches lowest level since February 2021 Malaysia’s inflation rate fell to 1.5% in November, compared to 1.8% in October, reaching its lowest level since February 2021. November’s reading was also below the 1.7% expected in a Portal poll of economists. On a monthly basis, inflation remained flat in … [Read more…]
(Bloomberg) — European stocks and U.S. futures fell ahead of the release of a U.S. inflation indicator that could influence the Federal Reserve’s policy outlook. Most read by Bloomberg Technology stocks led to a decline in the Stoxx Europe 600 index. Prosus NV slumped as much as 15% after China announced new restrictions on online … [Read more…]
Financial markets will “take off” once investors are confident the Federal Reserve has completed raising interest rates, outgoing Morgan Stanley CEO James Gorman predicted, offering an optimistic outlook for his successor. In a wide-ranging interview with the Financial Times a few days before handing over the CEO job to Morgan Stanley co-president Ted Pick, Gorman … [Read more…]
New York CNN – Wayfair’s CEO has a year-end message for the online furniture company’s employees: Don’t be afraid to work more and combine your work with your life. “It takes hard work to win. I believe that most of us who are ambitious people find fulfillment in the joy of seeing our efforts produce … [Read more…]
FDA The FDA warns against using Ozempic products marked as shown with lot number NAR0074 and serial number 430834149057. CNN – The U.S. Food and Drug Administration warned Thursday that it had seized “thousands of units” of counterfeit versions of the type 2 diabetes drug Ozempic from the U.S. drug supply chain and urged suppliers, … [Read more…]
Hyperloop One once dreamed of building a high-speed freight connection between Europe and China that could move cargo from one end to the other in a single day. However, this will remain one of the many goals that the company cannot achieve. Hyperloop One is shutting down, an employee confirmed to Engadget after Bloomberg published … [Read more…]