26 May

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China’s Xiaomi says U.S. has formally lifted securities ban By Reuters

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HONG KONG (Reuters) - China's Xiaomi Corp said on Wednesday a U.S. court has removed the company's designation as a Communist Chinese Military Company (CCMC) and lifted all restrictions on U.S. persons buying or holding its stock. "The U.S. District Court for the District of Columbia issued a final order vacating the U.S. Department of Defense's designation of the company as a CCMC," the smartphone maker said in a filing to the Hong Kong bourse. It said the order was made on Tuesday. "The company reiterates that it is an open, transparent, publicly traded, independently...

26 May

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Exclusive: WhatsApp sues India govt, says new media rules mean end to privacy – sources By Reuters

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By Joseph Menn (Reuters) - WhatsApp has filed a legal complaint in Delhi against the Indian government seeking to block regulations coming into force on Wednesday that experts say would compel the California-based Facebook (NASDAQ:FB) unit to break privacy protections, sources said. The lawsuit, described to Reuters by people familiar with it, asks the Delhi High Court to declare that one of the new rules is a violation of privacy rights in India's constitution since it requires social media companies to identify the "first originator of information" when authorities demand it. While the law requires WhatsApp...

26 May

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Dollar wallows at multi-month lows as Fed bangs dovish drum; euro ascendant By Reuters

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By Kevin Buckland TOKYO (Reuters) - The dollar wallowed near its weakest since early January against major peers on Wednesday, as Treasury yields eased amid Federal Reserve insistence that stimulus will continue despite current inflationary pressures. The euro traded around the key $1.2250 level, holding gains from Tuesday when it pushed as high as $1.2266 for the first time since Jan. 8, as Europe's pandemic recovery picks up pace, closing the gap with the U.S. The dollar index, which gauges the greenback against six rivals, languished at 89.663 early in the Asian session, after pushing as...

26 May

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Irish fiscal watchdog sees fewer risks of economic scarring By Reuters

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DUBLIN (Reuters) - The Irish government appears to be too pessimistic in its assumption of a permanent 5% loss of economic output due to COVID-19, the country's fiscal watchdog said on Wednesday, but "poorly founded" medium-term forecasts could offset any upside. With governments trying to judge what the long-term economic "scarring" effects of the pandemic will be, the Irish Fiscal Advisory Council (IFAC) said there was "considerable upside" potential to Dublin's relatively cautious assumptions. It said growth in sectors not affected by the pandemic - in Ireland's case a large hub of multinational firms that have...

26 May

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Dutch court to rule on case targeting Shell’s climate strategy By Reuters

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By Ron Bousso and Bart H. Meijer LONDON/AMSTERDAM (Reuters) - A Dutch court will rule on Wednesday in a landmark case in which climate activists seek to force Royal Dutch Shell (LON:RDSa) to speed its cuts to greenhouse gas emissions. Filed by seven activist groups including Greenpeace and Friends of the Earth Netherlands, the lawsuit marks a first in which environmental groups have turned to the courts to try to force a major energy firm to change strategy. It was filed in April 2019 on behalf of more than 17,000 Dutch citizens who say Shell...

26 May

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AI Fund That Was Trouncing Market Is Derailed by Tech Bets By Bloomberg

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(Bloomberg) -- A machine-guided fund that roared ahead of the market at the start of the year is being derailed this quarter by the lackluster performance of its big tech bets. The AI Powered Equity exchange-traded fund (ticker AIEQ) has lagged its benchmark, the S&P 500 Total Return Index, by 9 percentage points since the end of March, according to data compiled by Bloomberg. Tech and health care stocks account for the bulk of the artificial intelligence-driven ETF’s underperformance, calculations show. AIEQ has pared a rise of as much as 19% this year to trade just...

26 May

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Retail Profit, Tech Reports, Mortgage Demand: 3 Things to Watch By Investing.com

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By Liz Moyer Investing.com -- Stocks traded mostly sideways on Tuesday as weakness in energy offset strength in travel-related sectors, and the U.S. was set to reach a 50% vaccination rate for adults. The vaccination trends, and drop in new domestic Covid cases, is energizing corners of the market like airlines, cruise operators and other leisure-related stocks. Public health restrictions across the U.S. are lifting, encouraging people to venture out for the first time in a year. American Airlines Group (NASDAQ:AAL) and United Airlines Holdings Inc (NASDAQ:UAL) said they expected an even...

26 May

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Intuit Results Miss in Q3, but Guidance Lifts Shares By Investing.com

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By Yasin Ebrahim Intuit (NASDAQ:INTU) raised its full-year revenue guidance Tuesday after reporting third-quarter results that fell short of expectations as the extension of the federal tax filing deadline weighed on results. The shares rose 1% in afterhours trading following the earnings report. The financial software company announced earnings per share of $6.07 on revenue of $4.17 billion. Analysts polled by Investing.com anticipated EPS of $6.52 on revenue of $4.43 billion. "We had a great tax season growing our share of total tax returns and executing our strategy of expanding our lead...

26 May

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Canada slams ‘outrageous’ Belarus behavior; Minsk says its Canada embassy to shut By Reuters

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OTTAWA (Reuters) - Canada on Tuesday strongly condemned Belarus for forcing down a jetliner and arresting a dissident journalist and said it was examining whether to tighten existing sanctions. "The behavior of the Belarus regime is outrageous, illegal, and completely unacceptable ...

26 May

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Intuit Earnings, Revenue miss in Q3 By Investing.com

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Intuit (NASDAQ:INTU) reported on Tuesday third quarter earnings that missed analysts' forecasts and revenue that fell short of expectations. Intuit announced earnings per share of $6.07 on revenue of $4.17B. Analysts polled by Investing.com anticipated EPS of $6.52 on revenue of $4.43B. Intuit shares are up 15% from the beginning of the year and are trading at $439.35 , down-from-52-week-high.They are outperforming the Nasdaq 100 which is up 5.97% from the start of the year. Intuit follows other major Technology sector earnings this month Intuit's report follows an earnings beat...

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China’s Xiaomi says U.S. has formally lifted securities ban By Reuters

Exclusive: WhatsApp sues India govt, says new media rules mean end to privacy – sources By Reuters

Dollar wallows at multi-month lows as Fed bangs dovish drum; euro ascendant By Reuters

Irish fiscal watchdog sees fewer risks of economic scarring By Reuters

Dutch court to rule on case targeting Shell’s climate strategy By Reuters

AI Fund That Was Trouncing Market Is Derailed by Tech Bets By Bloomberg

Retail Profit, Tech Reports, Mortgage Demand: 3 Things to Watch By Investing.com

Intuit Results Miss in Q3, but Guidance Lifts Shares By Investing.com

Canada slams ‘outrageous’ Belarus behavior; Minsk says its Canada embassy to shut By Reuters

Intuit Earnings, Revenue miss in Q3 By Investing.com

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