Shares of Southeast Asian e-commerce and gaming company Sea Group surged after its first-quarter revenue beat analysts’ expectations on Tuesday. Sea’s U.S.-listed shares rose 14% to close at $80.21 after the Singapore-based internet company reported earnings that beat analysts’ expectations in the first quarter of this year. Here’s how the NYSE-listed company fared from January … Read more
Fresh vegetable prices rose 24% year-on-year in April as consumers stocked up to prepare for possible stay-at-home orders. Pictured is a delivery driver from Alibaba’s Hema Fresh supermarket in Beijing on May 10, 2022. Jade Gao | AFP | Getty Images BEIJING — Consumer and producer prices in China rose more than expected in April, … Read more
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Wall Street set to rise after S&P 500 hits lowest level in more than a year Traders work on the floor of the New York Stock Exchange (NYSE) in New York, March 22, 2022. Brendan McDermid | … Read more
Pedestrians walk past a Bitcoin cryptocurrency exhibit on February 15, 2022 in Hong Kong, China. Anthony Kuan | Getty Images A multi-billion dollar bet that bitcoin can act as a “reserve currency” for the crypto-economy is already being tested as controversial stablecoin UST struggles to maintain its peg at $1. UST fell nearly 99 cents … Read more
Uber will cut spending and focus on becoming a leaner company to weather a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC. “After the earnings, I spent several days meeting with investors in New York and Boston,” Khosrowshahi said in the email sent Sunday evening. “Clearly the … Read more
Uber posted a loss of $5.9 billion in the first quarter of 2022. Philippe Pacheco | AFP via Getty Images Uber will cut spending and focus on becoming a leaner company to weather a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC. “After the earnings, I spent … Read more
This week in parts. Illustration by Mitchell Preffer for Decrypt. For the fifth consecutive weekmajor cryptocurrencies such as Bitcoin and Ethereum have fallen, even as signs of wide-scale adoption continue to emerge: US customers of Gucci will be able to pay with bitcoin in select stores later this summer. Still, prices are a good indicator … Read more