Alibaba shares drop 5% after revenue miss, $25 billion boost to buyback plan
Alibaba missed market expectations for revenue in the December quarter but announced it is increasing the size of its share buyback program by $25 billion.
Financial News
The prospect of a united Ireland emerges as a republican leader takes office in Belfast
A referendum on Irish reunification could be in the cards within a decade, according to Northern Ireland’s first-ever nationalist first minister.
Stock market in a ‘very dangerous’ position as jobs and wages run hot, fund manager says
The U.S. stock market is in a “very dangerous” spot as strong jobs numbers suggest the Fed’s interest rate hikes have not had the desired effect, says Cole Smead.
Biden nets landslide victory in South Carolina Democratic primary, over 95% of votes
Biden’s overwhelming margin of victory left no question about who Democratic voters want to be on the ballot in November.Â
Meta shares surge 20% on soaring profit, better-than-expected guidance and first-ever dividend
Meta shares surged 20% on Friday, after profits tripled in the fourth quarter and the company issued its first-ever dividend.
Apple’s sales plunged in China — these are the iPhone giant’s 5 biggest problems right now
Apple is facing challenges in China from cautious consumer sentiment to intense competition, in particular from a rejuvenated Huawei.
Bank of England chief hints the market could be getting it right on rate cuts
Bank of England Governor Andrew Bailey on Thursday signalled that financial markets’ expectations on the future path for rate cuts may be correct, even as he refused to commit to …
Bank of England could be about to open the door to interest rate cuts
The Bank of England is expected to hold interest rates at 5.25% on Thursday, but markets will be closely watching voting patterns, projections and language.
World’s largest sovereign wealth fund posts record $213 billion profit, boosted by tech stocks
Norway’s sovereign wealth fund, the world’s largest, was established in the 1990s to invest the surplus revenues of the country’s oil and gas sector.
Hungary accuses EU of blackmail over Ukraine aid stand-off
Hungary on Monday accused the European Union of blackmail after a leaked document suggested that the bloc plans to sabotage Budapest’s economy if it vetoes fresh aid for Ukraine.