Tag Archives: economic

Apple (AAPL) CEO Tim Cook took the witness stand on Friday to defend the iPhone maker’s control of its App Store, calling the service an “economic miracle” in a widely watched antitrust case brought by “Fortnite” maker Epic Games. Epic — which filed suit after its game was kicked off the App Store — contends the App Store constitutes an illegal monopoly because of the 30% commission Apple charges larger developers and the fact that the tech giant doesn’t allow other App Stores… Source link

Bloomberg The World Economy Is Suddenly Running Low on Everything (Bloomberg) — A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the rebound, it’s companies furiously trying to stock up. Mattress producers to car manufacturers to aluminum foil makers are buying more material than they need to survive the breakneck speed at which demand for goods is recovering and assuage that primal fear of running out. The… Source link

TipRanks Buy These 2 New Stocks Before They Jump Over 80%, Says JPMorgan In the past week, investors have had to cope with multiple conflicting signals from the markets. The April jobs report, which was expected to show almost 1 million new positions for the month, showed only 266,000. The official unemployment number ticked upward slightly to 6.1%, and hourly wages also gained – by 0.7%. That last would seem to be a positive – except that, combined with the massive government stimulus… Source link

[unable to retrieve full-text content]Reeves touts Google’s economic impact on Magnolia State  WLOX Source link

[unable to retrieve full-text content]Reeves touts Google’s economic impact on Magnolia State  WDAM Source link

Square (SQ) reported first-quarter earnings that blew past estimates after market close on Thursday, with the payments company’s results boosted by ongoing growth in Cash App and its cryptocurrency offerings. Shares rose more than 1% in late trading.  Here were the main metrics in Square’s report compared to consensus estimates compiled by Bloomberg: As a financial technology company, Square’s growth ballooned over the course of 2020, with consumers increasingly conducting transactions online… Source link

TipRanks 2 Dividend Stocks Yielding at Least 7%; Analyst Says ‘Buy’ The stock market pulled back from all-time highs this week, as investors paused to consider just what’s been goosing stocks – and what the future may hold. A flood of stimulus cash, unleashed by the Biden Administration’s big spending bills, is set to push GDP growth to 9% for 3Q21, but next year looks like it will slip back as the spending runs its course. Economists are predicting 5.5% GDP growth next year. This… Source link

JPMorgan Chase (JPM) CEO Jamie Dimon says the post-lockdown economic boom has “absolutely” begun. On a client webcast on Wednesday, the long-time bank CEO echoed his upbeat views on the U.S. economy that he recently outlined in his annual letter to JPMorgan shareholders in which he predicted an economic boom that “could easily run into 2023.” Pointing to the vaccine rollout, Dimon said on the webcast we are “lucky to have it” and people “should be happy to go back to work,” both factors that… Source link

Bloomberg Morgan Stanley’s Record Quarter Stained by Archegos Collapse (Bloomberg) — Morgan Stanley surprised investors with a $911 million loss tied to the collapse of Archegos Capital Management, staining what was otherwise a record quarter for revenue and profit.“The current quarter includes a loss of $644 million related to a credit event for a single prime brokerage client, and $267 million of subsequent trading losses through the end of the quarter related to the same event,”… Source link

Bloomberg As Sanjeev Gupta Rose From Trader to Tycoon, Several Banks Backed Away (Bloomberg) — British industrialist Sanjeev Gupta’s companies seemed to be prospering until his main lender, Greensill Capital, imploded last month. But long before Greensill collapsed, several banks had cut off the commodity trading business of Gupta’s Liberty House Group.Four banks stopped working with Gupta’s commodity trading business, starting in 2016, after they became concerned about what they… Source link