12 May

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Inflation, Investing Gurus, Earnings: 3 Things to Watch By Investing.com

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By Christiana Sciaudone Investing.com -- Tech tried hard to make a comeback Tuesday, and helped buoy an otherwise depressed market. Oil dipped even as gasoline shortages rose on the East Coast as a result of the Colonial Pipeline shutdown. Bucking the trends were Palantir Technologies Inc (NYSE:PLTR)and Roblox Corp (NYSE:RBLX), whose earnings pleased the market greatly. The U.S. Federal Drug and Food Administration authorized the Pfizer Inc (NYSE:PFE)-BioNTech SE (NASDAQ:BNTX) vaccine for use in children aged 12 to 15, which hopefully means more of them will be getting back to full-time school and saving...

12 May

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Indian workers allege ‘shocking violations’ in building Hindu temple in New Jersey By Reuters

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By Peter Szekely NEW YORK (Reuters) - Hundreds of marginalized workers from India were recruited to build a massive Hindu temple in New Jersey where they were forced to work long hours for low pay in violation of U.S. labor and immigration laws, according to lawsuit filed on Tuesday. The complaint, filed in U.S. District Court in Newark on behalf of more than 200 Indian construction workers at the temple, alleges "shocking violations of the most basic laws applicable to workers in this country, including laws prohibiting forced labor." The suit, filed by five of the...

12 May

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Nissan shares tumble 10% to 4-month low after results By Reuters

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TOKYO (Reuters) - Shares in Nissan Motor Co slumped as much as 10.3% on Wednesday morning to their lowest in four months after the Japanese automaker's weaker-than-expected guidance for the current fiscal year. Nissan defied expectations on Tuesday for a return to profitability in the year ending March 2022, as the global chip shortage and raw material price increases curb its recovery from a record annual operating loss. The forecast by Japan's No.3 car maker by sales to break even for the year that began April 1 was lower than a 241.7 billion yen ($2.23...

12 May

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Asia shares wallow near one-month lows on inflation anxiety By Reuters

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SYDNEY (Reuters) - Asian shares languished near one-month lows on Wednesday as investors speculated surging commodity prices and growing inflationary pressure in the United States could lead to earlier rate hikes and higher bond yields globally. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.1%, after tumbling 1.6% on Tuesday for its biggest daily percentage drop since March 24. "There isn't a clear catalyst behind this purge," said Marios Hadjikyriacos, investment analyst for XM. "It seems to be a combination of inflation fears making a comeback and some market participants moving higher along the value...

12 May

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Mexico scraps tainted GM union vote, U.S. lawmakers warn of labor abuses By Reuters

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By Daina Beth Solomon and David Shepardson MEXICO CITY (Reuters) - Mexican authorities on Tuesday ordered the General Motors Co (NYSE:GM) union in the city of Silao to repeat a worker vote following pressure from U.S. lawmakers for the automaker to address alleged abuses that could potentially violate a new trade deal. Mexico's labor ministry said it found "serious irregularities" in last month's vote, which is required under a Mexican labor reform to ensure workers are not bound to contracts that are signed behind their backs and protect company interests. GM's union must hold...

12 May

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Electronic Arts Reports Mixed Q4 Results as Earnings Fall Short By Investing.com

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By Yasin Ebrahim Electronic Arts (NASDAQ:EA) reported Tuesday mixed fourth-quarter results as earnings missed, but revenue beat expectations. The company shares fell 1% in after-hours trade following the report. Electronic Arts announced earnings per share of $0.26 on revenue of $1.49B. Analysts polled by Investing.com anticipated EPS of $1.05 on revenue of $1.39B. Shares are down 1% from the beginning of the year, still down 5.97% from its 52 week high of $150.30 set on January 25. They are under-performing the Nasdaq which is up 3.89% from the start of the year. Net bookings, the number...

12 May

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UK unveils law to fine social media firms which fail to remove online abuse By Reuters

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By Michael Holden LONDON (Reuters) - Britain said on Wednesday a planned new law would see social media companies fined up to 10% of turnover or 18 million pounds ($25 million) if they failed to stamp out online abuses such as racist hate crimes, while senior managers could also face criminal action. The Online Safety Bill also seeks to strengthen the right to freedom of expression, and ensure democratic political debate and journalistic content is protected, the government said. "It’s time for tech companies to be held to account and to protect the British people...

12 May

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AmCham survey flags potential expatriate exodus from Hong Kong By Reuters

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HONG KONG (Reuters) - More than 40% of the members of the American Chamber of Commerce in Hong Kong plan to or are considering leaving the financial hub, with most citing discomfort with a sweeping national security law as one reason, a survey showed on Wednesday. The legislation imposed by Beijing in 2020, which punishes secession, subversion, terrorism and collusion with foreign forces with up to life in prison, has further strained relations between the United States and China. The AmCham survey, to which 325, or 24% of the business organisation's members responded between May...

12 May

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Prince Harry and Meghan Markle’s non-profit teams up with Procter & Gamble By Reuters

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(Reuters) -Britain's Prince Harry and his wife Meghan's Archewell Foundation said on Tuesday it has entered into a multi-year partnership with consumer goods company Procter & Gamble aimed at building more compassionate communities. The partnership would focus on gender equality, creating inclusive online spaces and "resilience and impact" through sport, the non-profit group said in a statement. It did not offer financial details. Harry and Meghan have been engaging in partnerships for social work. Archewell said in December it was partnering with the World Central Kitchen and its celebrity chef to feed the hungry in...

12 May

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Brazil suspends use of AstraZeneca vaccine in pregnant women nationally after death By Reuters

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By Ricardo Brito and Pedro Fonseca BRASILIA/RIO DE JANEIRO (Reuters) - Brazil's federal government on Tuesday nationally suspended the vaccination of pregnant women with the AstraZeneca (NASDAQ:AZN) COVID-19 shot, after an expectant mother in Rio de Janeiro died from a stroke possibly related to the inoculation. Franciele Francinato, coordinator of the Health Ministry's vaccination program, told reporters the suspension was enacted as a precautionary measure after health regulator Anvisa issued a warning about the vaccine's use in pregnant women earlier in the day. Authorities are investigating the incident. The suspension applies only to AstraZeneca's shot and...

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Inflation, Investing Gurus, Earnings: 3 Things to Watch By Investing.com

Indian workers allege ‘shocking violations’ in building Hindu temple in New Jersey By Reuters

Nissan shares tumble 10% to 4-month low after results By Reuters

Asia shares wallow near one-month lows on inflation anxiety By Reuters

Mexico scraps tainted GM union vote, U.S. lawmakers warn of labor abuses By Reuters

Electronic Arts Reports Mixed Q4 Results as Earnings Fall Short By Investing.com

UK unveils law to fine social media firms which fail to remove online abuse By Reuters

AmCham survey flags potential expatriate exodus from Hong Kong By Reuters

Prince Harry and Meghan Markle’s non-profit teams up with Procter & Gamble By Reuters

Brazil suspends use of AstraZeneca vaccine in pregnant women nationally after death By Reuters

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