27 July

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Moonpig’s revenue and profit more than doubles in maiden results By Reuters

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LONDON (Reuters) - British online greeting card publisher Moonpig said its annual revenue and adjusted earnings more than doubled in its maiden set of results as a listed company. Moonpig, which commands more than 60% of the online greetings card market in Britain and the Netherlands, reported revenue of 368.2 million pounds ($508.8 million), up 113%, and adjusted core earnings of 92.1 million pounds, up 107%, in the 12 months to the end of April. The company has been boosted by COVID-19 lockdowns causing its high street rivals to close their doors during the year, resulting...

27 July

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Credit Suisse taps Goldman Sachs partner to lead risk turnaround By Reuters

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(Clarifies interim roles in paragraph 5) By Brenna Hughes Neghaiwi ZURICH (Reuters) - Credit Suisse (SIX:CSGN) on Tuesday appointed Goldman Sachs (NYSE:GS) partner David Wildermuth its new chief risk officer, as it seeks to turn the corner on the Archegos and Greensill scandals that have rocked Switzerland's second-biggest bank. Zurich-based Credit Suisse has been cutting risk after its prime brokerage business lost billions from the collapse of family office Archegos, and as its asset management division scrambles to return some $10 billion of client investments linked to insolvent supply chain finance firm Greensill. Those...

27 July

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FirstGroup CEO steps down after investor demands his resignation By Reuters

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LONDON (Reuters) - British transport company FirstGroup said Chief Executive Matthew Gregory plans to step down in September, a day after its biggest shareholder demanded he resign. New York-based Coast, which owns a roughly 15% stake in FirstGroup, has been opposing the sale of the company's U.S.-based FirstStudent and FirstTransit businesses to Swedish group EQT, arguing the price was too low. FirstGroup said on Tuesday that chairman David Martin would become interim executive chairman until a permanent replacement could be found. FirstGroup also said it swung to a 224.3 million pound statutory operating profit in...

27 July

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Fed’s MBS Buying High on Agenda as Officials Begin Taper Talk By Bloomberg

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(Bloomberg) -- Policy hawks at the Federal Reserve are setting their sights on scaling back the U.S. central bank’s massive intervention in the mortgage market as home prices soar. But the Fed leadership doesn’t sound convinced by arguments in favor of a hasty exit strategy. The debate -- over whether to taper the Fed’s purchases of mortgage-backed securities faster than its buying of Treasury debt -- will probably be near the top of the agenda when officials gather July 27-28 to discuss next steps for policy. Economists surveyed by Bloomberg expect them to leave their support...

27 July

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Intel to build Qualcomm chips, aims to catch foundry rivals by 2025 By Reuters

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By Stephen Nellis (Reuters) -Intel Corp said on Monday its factories will start building Qualcomm (NASDAQ:QCOM) Inc chips and laid out a roadmap to expand its new foundry business to catch rivals such as Taiwan Semiconductor Manufacturing Co and Samsung Electronics (LON:0593xq) Co Ltd by 2025. Amazon.com Inc (NASDAQ:AMZN) will be another new customer for the foundry chip business, said Intel (NASDAQ:INTC), which for decades held the lead in technology for manufacturing the smallest, fastest computing chips. But Intel has lost that lead to TSMC and Samsung, whose manufacturing services have helped Intel's rivals...

27 July

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S. Korea’s Q2 GDP growth hits decade high but risks loom By Reuters

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By Cynthia Kim SEOUL (Reuters) - South Korea's economy expanded at the fastest annual pace in a decade in the second quarter, thanks to a pick up in private consumption, though a resurgence of COVID-19 casts doubt over the outlook for growth for the rest of the year. Data from the Bank of Korea on Tuesday showed gross domestic product (GDP) grew 0.7% in the second quarter, after rising 1.7% three months earlier and matching 0.7% growth tipped in a Reuters survey. The economy surged 5.9% year-on-year, the fastest growth in a decade and up sharply...

27 July

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Apple, Microsoft, Alphabet Earnings: 3 Things to Watch By Investing.com

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By Dhirendra Tripathi Investing.com -- Quarterly earnings take center stage this week, kicking off with Tesla Inc (NASDAQ:TSLA)’s results after the closing bell tonight. Investors pushed shares up modestly during Monday’s session in anticipation. The electric car maker precedes reports from big tech companies like Microsoft, Apple, Alphabet (NASDAQ:GOOGL) and Facebook (NASDAQ:FB). Last week social media companies set the tone, reporting results that beat expectations. All three indexes closed at new highs on Monday. This week will also include reports from General Electric Company (NYSE:GE) Ford Motor Company (NYSE:F) and ...

27 July

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Amazon denies report of accepting bitcoin as payment By Reuters

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(Reuters) - Amazon.com Inc (NASDAQ:AMZN) on Monday denied a media report saying the e-commerce giant was looking to accept bitcoin payments by the end of the year. The report https:// from London's City A.M. newspaper, citing an unnamed "insider", sent the world's biggest cryptocurrency up as much as 14.5% before it trimmed gains to last trade 6% higher at $37,684.04. "Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true," said a spokesperson from Amazon. "We remain focused on exploring what this could look like...

27 July

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Explainer: Intel banks on 3D chip technology to win over new customers By Reuters

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By Stephen Nellis (Reuters) - In the past, chipmakers like Intel Corp (NASDAQ:INTC) and Taiwan Semiconductor Manufacturing Co raced each other to make the features on chips smaller and smaller to cram more computing power onto a single chip. But the newest race in chipmaking is to stack "chiplets" or "tiles" - tiny squares sliced out of what would normally be a single, larger chip - on top of a base layer of silicon in one package, mixing and matching different technologies rather than trying to make a single big chip. What analysts...

27 July

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Bitcoin Surge, China Tech Onslaught, Tesla Earnings – What’s Moving Markets By Investing.com

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By Geoffrey Smith Investing.com -- Bitcoin prices surge on speculation that Amazon (NASDAQ:AMZN) is getting involved in crypto. China redoubles its onslaught against the country's tech sector, with fresh pressure on education technology and food delivery companies. Tesla (NASDAQ:TSLA) reports second-quarter earnings after the close. Stocks are set to open the week lower amid a sustained rise in Covid-19 cases in the U.S., and coffee futures hit fresh seven-year highs after last week's frosts in Brazil. Here's what you need to know in financial markets on Monday, 26th July. 1. Bitcoin surges on Amazon speculation, short-covering...

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Moonpig’s revenue and profit more than doubles in maiden results By Reuters

Credit Suisse taps Goldman Sachs partner to lead risk turnaround By Reuters

FirstGroup CEO steps down after investor demands his resignation By Reuters

Fed’s MBS Buying High on Agenda as Officials Begin Taper Talk By Bloomberg

Intel to build Qualcomm chips, aims to catch foundry rivals by 2025 By Reuters

S. Korea’s Q2 GDP growth hits decade high but risks loom By Reuters

Apple, Microsoft, Alphabet Earnings: 3 Things to Watch By Investing.com

Amazon denies report of accepting bitcoin as payment By Reuters

Explainer: Intel banks on 3D chip technology to win over new customers By Reuters

Bitcoin Surge, China Tech Onslaught, Tesla Earnings – What’s Moving Markets By Investing.com

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