Tag Archives: Pivot

Russia’s Federation Council voted to approve the early dismissal of Alexey Kudrin from his post as Audit Chamber Chairman, according to Interfax. Kudrin’s dismissal was requested earlier by Vladimir Putin. At the session, Federation Council Speaker Valentina Matvienko indirectly confirmed that Kudrin plans to work at Yandex, saying that she hoped the Federation Council’s statements will start appearing in the search engine’s top results more frequently. According to sources close to… Source link

(Bloomberg) — Federal Reserve Chair Jerome Powell is raising interest rates at the steepest pace in a generation and he said Wednesday that another big increase is possible. Yet investors sent stocks surging on his comments that the hikes will eventually slow. Most Read from Bloomberg Some Fed watchers say markets read Powell’s press conference too narrowly. Economists pointed out that the Fed’s top focus remains curbing inflation, even if it comes at a cost to employment, the other side… Source link

The general read from Wall Street in the wake of Target’s surprise warning on Tuesday is that things can’t get much worse from here. “While this news is painful to digest, we are hopeful that this is a rip the bandaid off type event that will allow the company to operate more efficiently in the second half and beyond,” RBC Capital Markets analyst Steven Shemesh wrote in a new note to clients. “We expect investors to tread with caution near-term, but believe this decision ultimately makes the… Source link

With several threats to the future of its business, Facebook wants to start “a new chapter.”  Investors are unsure it will succeed in its grand metaverse ambitions and employees are confused. “Simply put, the market is questioning whether this company is now Yahoo! 3.0,” an analyst said. Facebook is at a perilous time in its history as Mark Zuckerberg bets his company on… Source link

(Bloomberg) — Russia’s central bank unexpectedly slashed its key interest rate in a sign of confidence that the worst of the financial turmoil triggered by the invasion of Ukraine is past. Most Read from Bloomberg Reversing part of the steep rate increase delivered after the attack, the central bank lowered the benchmark to 17% from 20% at an unscheduled meeting on Friday and said further cuts could be made in the months ahead if conditions permit. The ruble briefly halted its rebound… Source link

(Bloomberg) — GameStop Corp. shares tumbled for a third day in four as retail traders flocked to other corners of the stock market such as small drug developers. The video-game retailer extended losses to 33% and touched this week’s low of $62.05 at 11:32 a.m. in New York. Trading volume picked up after a slow start, with 25 million shares exchanged in the first two hours of trading, but still a below the average for the stock over the past two weeks. Meanwhile, demand was lower for… Source link

Russian technology firm Yandex NV found an opportunity at the height of the pandemic – repurposing its army of ride-hailing drivers to provide deliveries in a country where logistics options are scarce. The venture was a success and the company will make its pivot permanent. Yandex, which also operates the nation’s largest internet search engine, is targeting 1 million daily deliveries in the near future,… Source link

(Bloomberg) — Russian technology firm Yandex NV found an opportunity at the height of the pandemic — repurposing its army of ride-hailing drivers to provide deliveries in a country where logistics options are scarce. The venture was a success and the company will make its pivot permanent. Yandex, which also operates the nation’s largest internet search engine, is targeting 1 million daily deliveries in the near future, Daniil Shuleyko, head of the Yandex.Taxi unit, said in an interview.