Tag Archives: Economy

MOSCOW, December 21. /TASS/. Yandex has closed the deal of buying out the Uber stake in Yandex food, online store, delivery, and self-driving services totaling $1 bln, the press service of the Russian technology company told TASS. “Yandex has closed the deal of buying out the Uber stake in Yandex.Eats, Yandex.Lavka, Yandex.Delivery, and the self-driving service” the company said. Yandex and Uber will continue joint development of taxi ordering, car-sharing, and kick scooter hire services,… Source link

For a certain sector of the economy the past week has been electric. Item 1: Tesla (TSLA) CEO Elon Musk polls his Twitter followers if he should sell his Tesla shares. They say yes. TSLA tanks on the news and Musk loses $50 billion. Then Musk sells 5.2 million shares or $5.8 billion of stock (as of Friday.) Tesla shares rally. Musk is still the richest man in the world. Item 2: On Tuesday, electric truck maker Rivian goes public. Its stock soars 29% in the biggest IPO since the company… Source link

Gojek drivers waiting for passengers in Indonesia. afif c. kusuma | iStock Editorial | Getty Images SINGAPORE – More than 75% of the population in six major Southeast Asian countries have access to the internet and a majority of them have shopped online at least once, according to a new report from Google, Temasek Holdings and Bain & Company. As many as 40 million people across Singapore, Malaysia, Indonesia, the Philippines, Vietnam and Thailand came online for the first time this year,… Source link

Citigroup (C) CEO Jane Fraser, who leads the third-largest U.S. bank, said in a new interview that she expects sluggish short-term growth in the Chinese economy as the country continues to bolster domestic consumption and taper its reliance on exports.  The bank approaches China with “caution” but remains bullish about the country’s role in global economic growth over the longterm, Fraser said. “I think it’s come off the boil for sure, but I think bubbling away too ferociously isn’t great… Source link

MOSCOW, October 18. /TASS/. Yandex sees interest in the application of driverless technologies for deliveries in Dubai, the press service of the Russian technology company told TASS on Monday. “We see much interest in self-driving technologies in delivery worldwide, including this region,” the company said. Negotiations with potential partners are underway now, the press service added. The Nation News reported earlier that Yandex was considering an opportunity to launch robotic couriers… Source link

The supply chain crisis is likely to hit holiday season given the immense backlog that’s still unresolved, one expert said, and the current state of the labor market isn’t helping. Supply chains have been bogged down for weeks with bottlenecks in shipping and labor shortages in trucking, causing massive delays in moving goods across borders. Many experts expressed concerns that the delays could lead also to elevated inflation. “Let’s look at the math: It’s 14 days to get a container from APAC… Source link

MOSCOW, September 27. /TASS/. Russian Prime Minister Mikhail Mishustin signed a decree defining the Yandex search engine as the app for pre-installation by default on gadgets sold in Russia since January 1, 2022. The document was posted on Monday on the official web portal of legal information. Furthermore, Yandex.Browser and Kaspersky Internet Security complemented the list of programs compulsory for installation on stationary and portable computers and system units with the operation… Source link

For , it’s starting to feel more like March 2020 than September 2021. Cities across the country have tightened up on mask wearing, or are insisting on COVID-19 vaccination status as a way to instill confidence among customers and protect the community. However, in some regions, as the Delta variant casts a new cloud over the industry’s outlook. In a consumer survey recently conducted by the National Restaurant Association, 19% of respondents said they’ve stopped going out to eat in… Source link

Stocks weakened on Wednesday in directionless trade, poised to extend the previous day’s declines as rising COVID-19 infections momentarily upending expectations about growth. In Tuesday’s regular session, the Dow Jones Industrial Average and S&P 500 Index lost ground, but the technology-laced Nasdaq bucked the trend by posting a marginal gain. The market has mostly taken disappointing news in stride, but August’s jobs data falling far short of market expectations last week tempered hopes for… Source link

August marked the seventh straight month of gains for the S&P 500 (^GSPC) as investors ignored softening U.S. economic data at the hands of the COVID Delta variant.  But investors may be wise to stop ignoring the data, and position for a September rife with market volatility, says the team at Goldman Sachs.  “General mobility statistics have weakened, full-service restaurant indicators have softened, travel intentions appear to have faded and retail traffic declines (off of 2019 levels) have… Source link