Tag Archives: Market News

The lower performance in UBS’s equity derivatives, cash equities, and financing revenue all dragged the investment banking unit to record a 19% slump in its revenues.Swiss multinational investment bank and financial services company UBS Group AG (SWX: UBSG) has posted lower revenue in its third quarter compared to its performance in the year-ago period.The company posted revenue of $8.3 billion as against the $9.1 billion it reported in the year-ago period. UBS said its net income for the...

Rishi Sunak succeeds Liz Truss to become the next British Prime Minister. The crypto community celebrates Sunak’s pro-crypto stand while serving as the Chancellor in the Boris Johnson government. On Monday, October 24, pro-crypto candidate Rishi Sunak won the race to become the next Prime Minister of the UK. This happened as Boris Johnson and House of Commons leader Penny Mordaunt withdrew from the race.Sunak’s appointment to the office comes within just 7 weeks of Liz Truss becoming the UK...

The latest decision to include crypto in the TASE strategic plan underscores the nation’s attitude towards digital assets and its potential in traditional finance.The Tel Aviv Stock Exchange (TASE) has today announced a new strategic plan that’ll span 2023-2027. The exchange’s previous plan published when CEO, Ittai Ben-Zeev, took office resulted in strong financial gains and TASE will look to build on that.Specifically, it grew its profit margin from 9% in 2017 to about 25% in the first half...

While the stocks have a bearish sentiment at this time, the projection for the future has been keeping many investors optimistic about the Chinese markets.The current Chinese political makeup has stirred a massive slump in the stocks of the top tech companies in the country. After Monday’s trading session, the shares of Alibaba Group Holding Ltd (HKG: 9988) dropped 11.42% to HKD61.65, Tencent Holdings Ltd (HKG: 0700) slid by 11.43% to end the day at HKD206.20 while delivery giant, Meituan...

Tesla has been facing growing challenges in China due to strict COVID-19 rules as well as growing competition from local electric carmakers like BYD.The world’s largest electric carmaker Tesla Inc (NASDAQ: TSLA) has decided to cut the price of its cars in one of its most-competitive markets China. As per the latest development, Tesla has cut the price of its Model and Model Y vehicles.Tesla Cars PriceThe price of the Model 3 sedan in China has been reduced to 265,900 Chinese yuan ($36,615)...

Philips posted its Q3 2022 report as the company grapples with the fallout from a medical equipment recall.Royal Philips NV reported on Monday, October 24th, its Q3 2022 earnings which surpassed analysts’ forecasts for the period. However, the Dutch multinational conglomerate corporation’s revenue fell short of expectations. During the third quarter, Philips saw earnings per share of 0.25 euros on revenue of 4.30 billion euros. Meanwhile, analysts polled by Investing.com had it at 0.24 euros...

Stock traders and investors look poised for a bountiful week of earnings as they await a major interest rate decision from the Fed. Monday morning signaled some hopeful times ahead for the European stocks market, which opened on a rising note. However, it might be safe to say that the driving force behind the sudden rise in the value of European stocks, is a recent report that claims that the Federal Reserve could throttle down on its pace of interest rate hikes.  This explains why traders...

Snap blames its underperforming Q3 2022 financial report to rising inflation and the war in Ukraine. The report tanked other stocks.Snap (NYSE: SNAP), the first major social media company to release its Q3 2022 earnings, posted disappointing figures. For the period that ended September 30th, the prominent camera and social media company saw its shares plummet 25%. Furthermore, the California-based company warned that it would see no revenue growth in the typically busy holiday quarter. In a...

The revenue miss did not impress investors as the company’s shares fell by 6.65% on Thursday to close at $207.28.The stock price of American multinational electric vehicle maker Tesla Inc (NASDAQ: TSLA) is on a downtrend as the company’s revenue for the third quarter missed estimates. Per the results published, Tesla’s Earnings Per Share (EPS) came in at $1.05, a figure better than the 99 cents that were projected by analysts.The company missed its revenue estimates as it reported $21.45...

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