Amazon reported better-than-expected earnings and revenue for the third quarter, driven by growth in its cloud computing and advertising businesses. The stock ticked about 5% higher in extended trading. Here are the results. Wall Street is also watching several other numbers in the report: In cloud, Amazon Web Services revenue was a hair below consensus estimates, but […]
Fintechs Bizcuit, Valerian Capital and tilt are among the 10 recipients of Mastercard’s Strive EU Innovation Fund, each awarded €500,000 to develop solutions that address the unique challenges facing small businesses across Europe. The Mastercard Strive EU programme, part of Mastercard’s global Strive initiative, is designed to strengthen and grow Europe’s small business community by supporting innovations that help businesses […]
Google parent Alphabet’s (GOOG, GOOGL) stock surged 6% in after-hours trading Tuesday as the company reported fiscal third quarter earnings that beat analysts’ estimates on the top and bottom lines, helped by strong growth in its cloud business. The search giant reported earnings per share of $2.12 on revenue of $88.27 billion for the quarter […]
Chipotle Mexican Grill on Tuesday reported mixed quarterly results despite another quarter of higher traffic to its restaurants. Shares of the company fell 3% in extended trading. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Chipotle reported third-quarter net income of $378.4 million, or 28 cents […]
Citi, the banking partner for institutions with cross-border needs, has forged a new partnership with Google Cloud, the global AI, infrastructure, developer, data and security service provider, to modernise its technology infrastructure and enhance employee and client experiences on cloud-based applications. Through a strategic, multi-year agreement, Citi will migrate multiple workloads and applications to secure and […]
Uber (UBER) shares ticked higher on Friday after Tesla’s (TSLA) robotaxi event left investors largely disappointed. GLOBALT Investments senior portfolio manager Thomas Martin joins Market Domination Overtime to discuss the competition between the two and why Uber benefitted from the event. “Both Tesla stock and Uber reacted the way you would have expected given the […]
The CEO of Boeing told employees late Friday that the company plans to cut 10% of its total staff “over the coming months.” “Our business is in a difficult position, and it is hard to overstate the challenges we face together,” said Kelly Ortberg, who started at CEO of the troubled aircraft maker two months […]
Investors pushed the stocks of JPMorgan Chase (JPM) and Wells Fargo (WFC) higher Friday after third quarter results looked better than feared, a demonstration of resilience from the banking giants that points to the possibility of a soft landing for the US economy. One JPMorgan executive was even willing to connect the bank’s performance to […]
Gold rose over 1% on Friday after fresh US inflation data cemented the prospects of more interest rate cuts this year, while safe-haven demand stemming from geopolitical tensions also lifted bullion. Spot price gained 1.1% to $2,659.98 per ounce by 12:30 p.m. ET, erasing a weekly decline that followed last month’s record-breaking rally. US gold […]
In a move to offer accredited investors the ability to capitalise on Bitcoin’s long-term growth while ensuring capital preservation, the National Bank of Bahrain (NBB) has launched a new Bitcoin-linked investment product, developed in partnership with digital asset financial services firm ARP Digital. During an unveiling at Fintech Forward 2024, an industry fintech event held in Riyadh, Saudi Arabia, the […]
UK pharmaceutical giant GSK says it will pay as much as $2.2bn (£1.68bn) to settle thousands of cases in US courts over claims that a discontinued version of its heartburn drug Zantac caused cancer. The firm announced that it had reached agreements with 10 law firms who represent around 80,000 claimants. The settlements account for […]
Open banking technology provider, Ozone API, has provided an updated UK open banking model bank for Open Banking Limited (OBL), the implementation entity tasked with building the UK’s open banking standard to drive competition, innovation and transparency in UK retail banking. Ozone API explained that by updating the model bank, it is supporting the rollout of the latest […]
