Data showed that China’s economy was a burden on Alibaba’s core business, but the Chinese ecommerce giant’s happy enough. China’s economic woes have been taking a toll on Alibaba: while the firm inched sales up by 3% last quarter from … Continue reading Alibaba got squeezed in China’s economic crunch, but it wasn’t all toil and trouble
Exxon and Chevron are the latest big energy firms to report piled-up profit this year. Exxon, for starters, boasted its strongest quarter in its 152-year history. The oil and gas behemoth’s earnings nearly tripled from the same time last year to hit … Continue reading Exxon And Chevron Are Making Big Tech Look Like Old News
SoftBank’s Vision Fund, which oversees the world’s biggest tech-focused investment funds, admitted nearly $10 billion in investment losses last quarter, after being burned by tear-inducing stock dips from the likes of DoorDash, Chinese AI firm SenseTime, and Indonesian e-commerce company … Continue reading SoftBank Vision Fund, Hard Times
Quotes from the book: Whenever I meet a successful CEO, I ask them how they did it. Mediocre CEOs point to their brilliant strategic moves or their intuitive business sense or a variety of other self-congratulatory explanations. The great CEOs … Continue reading ‘The Hard Thing About Hard Things’-Ben Horowitz
What are the three big risks? 1. Recession The risks of a recession are higher in Europe than in the US – and mostly that’s down to the Russia-Ukraine war and sharply higher energy costs. And the economic slowdown in China has everyone … Continue reading Global Market Sentiment-Fall Time
Paypal’s results update didn’t quite hit the target late last week, but its blossoming tech friendship might bode well for the future. What Does This Mean? You don’t have to be a genius to guess that companies like PayPal would suffer when spending’s on the decline, and this time, common sense is on the money: the company processed a disappointing 14% more payments by value last quarter versus the same time the year before. In fairness, PayPal’s focus on marketing towards existing customers was worth the work, with active accounts making 13% more transactions, helping revenue and profit beat analysts’ expectations. But … Continue reading PayPal’s Pay Pal
Warren Buffett’s Berkshire Hathaway reported quarterly results over the weekend, which showed that healthy income from high interest rates made up for some of last quarter’s stock losses. What Does This Mean? Warren Buffett and his right-hand man Charlie Munger have beefed … Continue reading Buffeted But Still Standing
What’s Going On Here? Not even the slipperiest of bananas could trip up Nintendo’s quarterly results: the Japanese game maker upped its full-year profit outlook on Tuesday. What Does This Mean? The currency gods are smiling upon Nintendo right now: the yen’s … Continue reading Nintendo’s Dodging Obstacles
It’s been a wild week in crypto. Binance, the world’s biggest crypto exchange, announced Tuesday it plans to buy FTX, a top-five crypto exchange and one of its leading rivals. The next day, it walked away. Now, a bankruptcy filing … Continue reading What just happened with Binance and FTX?
What’s Going On Here? Meta announced the biggest staff cut in the company’s history on Wednesday. What Does This Mean? Meta’s dismal report from last month revealed its second-straight quarterly drop in revenue and piling losses from its risky metaverse bet. Investors dropped Meta … Continue reading Out of the Metaverse
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