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20 May
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ByteDance founder Zhang Yiming to step down as CEO By Reuters

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By Echo Wang and Yingzhi Yang (Reuters) -Zhang Yiming, founder of TikTok owner ByteDance, told employees of the Chinese technology giant in a memo that he will step down as chief executive and be succeeded by human resource chief Liang Rubo, the company disclosed on Thursday. The move, first reported by Reuters, represents the biggest corporate shake-up at ByteDance since its launch in 2012. The company grew to become a dominant social media force in China and turned TikTok, a short-video app popular with teenagers, into a global sensation. Zhang will move to a "key strategy"...

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20 May
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Dollar bounces after Fed minutes revives tapering discussion By Reuters

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By Hideyuki Sano TOKYO (Reuters) - The dollar bounced off three-month lows against European currencies on Thursday after minutes from the Federal Reserve's last policy meeting revealed there was more talk of tapering their bond purchase than investors had thought. In the Fed minutes, several policymakers said that a discussion about reducing the pace of asset purchases would be appropriate "at some point" if the economic recovery continue to gain momentum. That surprised investors given Fed Chair Jerome Powell had said right after that meeting last month that it is not time yet to begin discussing...

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20 May
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Squarespace, Retail Reports, Bitcoin: 3 Things to Watch By Investing.com

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By Liz Moyer Investing.com -- Stocks started out the day in the red and stayed there after a sell-off in cryptocurrencies and later word that the Federal Reserve is starting to think about broaching the bond tapering topic. The Fed’s minutes from its April meeting showed the first signs that some central bank members are ready to start thinking about tapering at upcoming meetings.  Energy was among the day’s biggest losers as the price of Crude Oil WTI Futures, the U.S. benchmark, fell more than 3%. Brent Oil Futurescrude, the international standard, fell nearly 3%. That might...

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20 May
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Oatly Prices IPO at Top of Range to Raise $1.4 Billion By Bloomberg

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(Bloomberg) -- Oatly Group AB, the vegan food and drink maker, priced its initial public offering at the top of a marketed range to raise more than $1.4 billion. The company and its investors sold more than 84 million American depositary shares for $17 each on Wednesday, according to a statement. The Swedish company had offered the shares for $15 to $17 each. The listing gives Oatly a market value of about $10 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission. U.S. markets dropped for the...

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20 May
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Exxon protests Australia’s industry levy for Timor Sea oil field clean-up By Reuters

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(Corrects day of week in first paragraph) MELBOURNE (Reuters) - Exxon Mobil Corp (NYSE:XOM) on Thursday protested Australia's move to hit the oil and gas industry with a levy to cover the cost of removing facilities at an oil field off northwest Australia after a small firm that owned the project collapsed. Exxon said it had proven that it could safely decommission facilities around the world and had the financial backing to do so and shouldn't have to help cover the costs of other companies unable to meet their obligations. "Therefore, it...

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20 May
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Facebook deploys special team as Israel-Gaza conflict spreads across social media By Reuters

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By Elizabeth Culliford (Reuters) - Facebook Inc (NASDAQ:FB) set up a 24-7 "special operations center" last week to respond to content posted on its platform about the Israeli-Palestinian conflict amid violence in the region, the company said on Wednesday. Misinformation, hate speech and calls for violence about the conflict have circulated on social media platforms amid the deadly fighting. "This operations center allows us to closely monitor the situation so we can remove content that violates our community standards faster, while also addressing possible errors in enforcement," Monika Bickert, Facebook's vice president of content...

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20 May
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Cisco Soft Profit Guidance Offsets Q3 Results Beat By Investing.com

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By Yasin Ebrahim Cisco (NASDAQ:CSCO) reported Wednesday third-quarter results that beat analysts' forecasts, but profit outlook that fell short of expectations weighed. Cisco shares lost 5% in after-hours trade following the report. Cisco announced earnings per share of 83 cents on revenue of $12.80 billion. Analysts polled by Investing.com anticipated EPS of 82 cents on revenue of $12.57 billion. Cisco shares are up 17% from the beginning of the year, still down 3.12% from its 52-week high of $54.14 set on May 10. They are outperforming the Nasdaq which is up 3.19% from the start of...

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20 May
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Cisco Earnings, Revenue beat in Q3 By Investing.com

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Cisco (NASDAQ:CSCO) reported on Wednesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations. Cisco announced earnings per share of $0.83 on revenue of $12.80B. Analysts polled by Investing.com anticipated EPS of $0.8212 on revenue of $12.57B. Cisco shares are up 17% from the beginning of the year and are trading at $51.73 , down-from-52-week-high.They are outperforming the Nasdaq which is up 3.19% from the start of the year. Cisco shares lost 1.37% in after-hours trade the report. Cisco follows other major Technology sector earnings this month Cisco's report follows...

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20 May
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Synopsys Earnings, Revenue beat in Q2 By Investing.com

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Synopsys (NASDAQ:SNPS) reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations. Synopsys announced earnings per share of $1.7 on revenue of $1.02B. Analysts polled by Investing.com anticipated EPS of $1.53 on revenue of $988.97M. Synopsys shares are down 8.55% from the beginning of the year and are trading at $237.07 , down-from-52-week-high.They are under-performing the S&P 500 which is up 9.6% from the start of the year. Synopsys follows other major Technology sector earnings this month Synopsys's report follows an earnings beat by Apple on April...

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20 May
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S&P 500 Ends Well Above Lows on Chip-Led Rebound in Tech By Investing.com

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By Yasin Ebrahim Investing.com –The S&P 500 ended lower Wednesday, but cut losses into the close as a chip-led rebound in tech helped soothe concerns the Federal Reserve is starting to think about broaching the bond tapering topic at upcoming meetings. The S&P 500 fell 0.81%, the Dow Jones Industrial Average fell 0.49%, or 341 points, and the Nasdaq Composite slipped 0.49%. The Federal Reserve minutes from its April meeting served up the first signs that some central bank members are ready to start thinking about tapering.   "A number of participants suggested that if the economy continued...

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