Stefan Sauer/picture alliance/Getty Images A shopping street in the German city of Stralsund London CNN — Germany slipped into recession as last year’s energy price shock impacted consumer spending. Output in Europe’s biggest economy fell 0.3% in the first three months of the year, after contracting 0.5% at the end of 2022, official data showed … Read more
HANOI, May 25 (Reuters) – Vietnamese electric vehicle (EV) maker VinFast said it was recalling all the first batches of vehicles it shipped to the United States last year following a warning safety certificates issued by the American authorities. The move came after the US National Highway Traffic Safety Administration (NHTSA) said 999 of VinFast’s … Read more
Dollar Tree shares plunged nearly 15% in early trading Thursday after the company fell short of Wall Street earnings expectations for the latest quarter and cut its earnings outlook for the entire year. Here’s how the discounter fared in its first fiscal quarter compared to what Wall Street expected, based on a Refinitiv analyst survey: … Read more
Investor concern has crept into other areas of the market, particularly with the impending expiry of the US debt ceiling. On Wednesday night, Fitch placed the U.S. triple-A credit rating on negative watch, citing “increased political partisanship” around the debt limit. Stock indices mostly gained. The Nasdaq Composite rose 1.7%, while the S&P 500 added … Read more
Virgin Galactic is set to launch its first spaceflight in nearly two years on Thursday. Called Unity 25, the mission represents the company’s fifth spaceflight to date and is the first since founder Sir Richard Branson’s launch to the far reaches of space. This is a crucial moment in the history of Virgin Galactic, which … Read more
The US government could hit its debt ceiling in a week. Nvidia’s earnings and outlook blew Wall Street. Problems spoil Ron DeSantis’ 2024 announcement on Twitter Spaces. A trader works on the floor of the New York Stock Exchange (NYSE) in New York City on May 24, 2023. Brendan McDermid | Reuters Here are the … Read more
Nvidia (NVDA) cemented its status as a Wall Street market darling once again after an upbeat AI-powered earnings call and outlook that rattled the financial models of already bullish analysts. Shares of the chip giant soared 27% in premarket trading on Thursday as results beat analysts’ estimates. The company’s ticker page was most active on … Read more
Shares in Snowflake (SNOW) plunged on Thursday after the software maker cut its guidance for fiscal year 2024 amid slowing growth in cloud computing partners such as Amazon.co.uk (AMZN). Investors shrugged off first-quarter earnings for SNOW stocks that beat Wall Street targets. X Snowflake released its first quarter financial results after the market closed on … Read more
(1/2) Euro and US dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic TOKYO, May 25 (Reuters) – The euro fell on Thursday as Europe’s biggest economy, Germany, was confirmed in recession, while the dollar hit a two-month high, benefiting from a seek refuge as concerns mount over a US default. … Read more
First Citizens BancShares Inc., which bought the assets of Santa Clara-based Silicon Valley Bank in March after its dramatic collapse, has laid off about 500 former SVB employees. A message from First Citizens Bank CEO Frank Holding to company employees said: “It is increasingly clear that we need to make decisions to right-size our reach … Read more
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