Tag Archives: tech

Bloomberg Six Reasons Asia’s Oil Refiners Aren’t Going Away Anytime Soon (Bloomberg) — Predictions of peak oil and the impending demise of fossil fuels will hit Asian oil refiners especially hard. The region is home to three of the top four oil-guzzling nations, and more than a third of global crude processing capacity. Yet, Asian refiners are expanding at a breakneck pace, even building massive new plants designed to run for at least half a century.What is going on?After a century of… Source link

Bloomberg Secretive Billionaire Kenneth Dart Makes $6.7 Billion Bet on Tobacco Stocks (Bloomberg) — It took decades for sustainable investing to become mainstream, but now every week one giant investor after another announces their commitment to ESG.Kenneth Dart will not be joining that club.The billionaire is heir to a plastic cup fortune. More than two decades ago he renounced his U.S. citizenship and moved to the Caribbean, becoming the biggest real estate owner in the Cayman Islands. For… Source link

undefined Stocks traded mixed on Monday, with the S&P 500 and Dow looking to kick off May on a high note while the Nasdaq declined. The S&P 500 added about 0.4%, while the Dow jumped by 0.9%. On Friday, the S&P 500 ended ended lower, but still closed out its best month since November with a monthly advance of more than 5%. In April, the communication services and consumer discretionary sectors led gains in the S&P 500, returning to a leadership position after lagging earlier in 2021 amid a… Source link

Bloomberg Copper Extends Rally to Top $10,000 With All-Time High in Sight (Bloomberg) — Copper topped $10,000 a metric ton for the first time since 2011, nearing the all-time high set that year as rebounding economies stoke demand and mines struggle to keep up.Prices rose as much as 1.3% to $10,008 a ton on the London Metal Exchange, before slipping back to trade near unchanged. The metal hit a record $10,190 in February 2011.Copper has been among the best performers in a month where metals… Source link

(Bloomberg) — U.S. equities slipped from all-time highs as technology shares faltered ahead of a batch of earnings reports from industry heavyweights. The S&P 500 fell for the first time in three sessions, with Tesla Inc. and Alphabet Inc. the biggest contributors to the decline. The tech-heavy Nasdaq 100 fell the most among the major U.S. indexes. 3M Co. weighed down the Dow Jones Industrial Average after it warned that rising costs for raw materials and transportation is a worsening… Source link

Hold the remote: YouTube TV customers could soon not be able to watch on a Roku device. On Monday, Roku customers should have received a notification from the streaming device maker that it is involved in negotiations with Google and that as of the time of the email, the two sides have been unable to reach an agreement to continue offering YouTube TV on Roku devices. YouTube TV is either the #1 or #2 live TV streaming service in the United States. Roku… Source link

Stocks were mixed Tuesday morning, with investors awaiting more corporate earnings results from major companies and a Federal Reserve monetary policy decision on Wednesday.  The S&P 500 ticked up, extending gains after the blue-chip index rose to an all-time high during Monday’s regular trading day. The Dow slipped, while the Nasdaq gained. Shares of Tesla (TSLA) fell after the company’s first-quarter sales results missed estimates, though earnings and automobile gross margins exceeded… Source link

Flock Freight, one of San Diego’s hottest tech startups, is moving its headquarters from Solana Beach to Encinitas, citing unbearably slow action on a permit request that would allow it to expand. The startup is quickly becoming well-known in San Diego County thanks to its recent $113 million venture cap deal led by SoftBank (which manages the largest tech fund on the planet). Flock Freight’s algorithms help companies move products more efficiently, combining small shipments into a… Source link

Bloomberg Bank of Canada Becomes First to Signal Exit From Stimulus (Bloomberg) — The Bank of Canada took the biggest step yet by a major economy to reduce emergency levels of monetary stimulus as it hailed a stronger-than-expected recovery from the pandemic.Policy makers led by Governor Tiff Macklem said Wednesday they would scale back their purchases of government debt by a quarter to C$3 billion ($2.4 billion) and accelerate the timetable for a possible interest-rate increase.The upbeat… Source link

The Guardian Apple and Google ‘hold data hostage’ and stifle competition, Senate told Spotify, Tile and Match aired their grievances against the companies at a Senate antitrust hearing Competitors claim to be subjected to high fees and copycat behavior in Google and Apple’s app stores. Photograph: Gonzalo Fuentes/Reuters Apple and Google “hold data hostage” from small apps and force competitors to pay high commissions, stifling their ability to compete, a number of companies said in… Source link