Stronger-than-expected online sales and signs that the slowdown in its cloud computing division had bottomed out lifted Amazon’s sales and earnings well above Wall Street predictions in the latest quarter. The revenue acceleration, along with cost-cutting that included large-scale lay-offs earlier this year, also boosted Amazon’s profit margins and contributed to after-tax earnings that were
Apple proved resilient in its latest quarter as the number of paying subscribers for its array of digital services crossed 1bn users worldwide, helping to lift profits from a year ago even as total revenue declined. The world’s largest company by market value said on Thursday that total revenue fell 1 per cent to $81.8bn
In this article DKNG AMZN COIN BKNG DBX AAPL Follow your favorite stocksCREATE FREE ACCOUNT Sheldon Cooper | Lightrocket | Getty Images Check out the companies making headlines in after-hours trading. Amazon – The e-commerce giant popped more than 7% in extended trading after posting strong second-quarter results and issuing upbeat revenue guidance for the
Polygon’s zero-knowledge scaling arm, Polygon Zero, is accusing developers of Matter Labs of copy-pasting “a substantial amount of source code” from its Plonky2 library, according to an announcement on Aug. 3. The allegedly plagiarized code was found on zkSync, a competitor layer-2 scaling solution for Ethereum powered by zero-knowledge technology. Matter Labs is the developer of
New York-based crypto exchange Coinbase reported revenue in the amount of $708 million in the second quarter of 2023, despite the regulatory issues it’s faced in recent months, boosted by a custody deal with Blackrock and institutional focus. The exchange said Q2 net revenue reached $663 million, down 10% versus the same period last year,
Optimism (OP) is a Layer 2 scaling solution, which operates as a separate blockchain built on top of Ethereum. Despite having a smaller total value locked (TVL) than its rivals, Optimism may still have the potential to thrive in the increasingly competitive DeFi landscape. Being one of the pioneers in the DeF space, Optimism initially
Municipals sold off Thursday, following U.S. Treasury losses after more economic data suggested the U.S. economy is strong enough to potentially warrant more rate hikes in the fall. Equities ended down. Ahead of Friday’s jobs report, Wall Street is “watching a global bond market selloff get uglier as U.S. stocks waver ahead of massive earnings
If you are a seller of appreciated property, it may be attractive to sell it on the installment method. That way, you pay tax over time as you get the installment payments, rather than paying tax all at once. Subject to technical rules and limits, hat is perfectly legal, section 453 of the tax code
After the sharpest tightening in monetary policy for 35 years, UK interest rates may finally be close to a peak. That was the message on Thursday from Bank of England governor Andrew Bailey, as he set out forecasts for inflation to inch back to the central bank’s target against a backdrop of near-stagnant economic growth.
On Aug. 1 a significant event occurred within the financial world: Fitch, a reputable credit rating agency, demoted the credit rating of the U.S. government from the pristine AAA to AA+. This downgrade signaled diminished confidence in the U.S. government’s ability to handle its fiscal responsibilities effectively. The downgrade nudged investors into a cautious stance,
Coinbase’s Base network has released a user interface (UI) for its official bridge, allowing end users to onboard for the first time without relying on developer tools, according to an Aug. 3 announcement. The team has set Aug. 9 as Base’s “official” release date. The team will award over 100 Ether (ETH), worth approximately $184,000,
Louisiana has tapped a consortium led by Plenary Americas as the private sector partner to negotiate a 50-year public-private partnership to replace the aging Calcasieu River bridge on Interstate 10. Calcasieu Bridge Partners is a joint venture of Plenary Americas US Holdings, Inc., which holds a 40% equity stake, and Sacyr Infrastructure USA LLC, and
On the latest episode of Market Talks, host Ray Salmond spoke with Blockware Solutions account executive David Gamble about the future of Bitcoin (BTC) mining, expectations for the cryptocurrency’s price, and his views on how the decentralized finance (DeFi) sector needs to evolve. Gamble described himself as a staunch believer in DeFi, but he added
Unibot (UNIBOT) token was among the top crypto gainers in July as its price rallied by 400% in a month to reach an all-time high of $199.90 on July 28. The project defied the market’s negative trend as both Bitcoin (BTC) and Ethereum (ETH) dropped by nearly 4%. However, by August 3, 2023, the token’s
The Municipal Securities Rulemaking Board has added five new members to its board, as well as elected officers for its 2024 fiscal year, bringing Meredith Hathorn on for another term as chair and electing Ernesto Lanza, of counsel for Ballard Spahr and formerly of the Securities and Exchange Commission, as chief regulatory and policy officer.
If you were looking for a sign that the tech start-up world has shaken off the growth-at-all-costs mindset that typified the last decade, Uber reporting a profit this week for the first time might fit the bill. The US ride-hailing company was emblematic of Silicon Valley’s ugly side during the boom years of the 2010s.
In Telluride, Colorado, the rugged landscape is a total scene-stealer. The same can be said of a luxury vacation home designed to “steal” the spectacular scenery that half a century ago jettisoned the area from an old mining town into a star ski resort. Turkey Creek Ranch at 8210 Highway 145 comes with a three-story
In this article ROKU QCOM DASH ETSY PYPL CLX LUV Follow your favorite stocksCREATE FREE ACCOUNT Southwest Airlines planes sit idle on the tarmac after Southwest Airlines flights resumed following the lifting of a brief nationwide stoppage caused by an internal technical issue, according to the U.S. Federal Aviation Authority (FAA), at Chicago Midway International
The investment grade of $1.2 billion of private activity bonds issued for an automated people mover train at Los Angeles International Airport is threatened. Amid delays and disputes between the airport and the private development team for the people mover, Fitch Ratings placed the BBB-minus rated senior revenue bonds on rating watch negative. The bonds,
A lucrative age for private equity buyouts has ended, prompting an abrupt shift in the $4tn industry where returns will no longer be fuelled by rising valuations, the chief executive of Apollo Global Management warned on Thursday. “In the [private] equity business, this year has really marked the end of an era,” said Marc Rowan,
Ahead of the Bank of England’s 14th consecutive rate rise since 2021 on Thursday, Prime Minister Rishi Sunak claimed “there is light at the end of the tunnel” on Britain’s inflation fight. After justifiable criticism of the bank for falling behind the curve — with the UK’s high inflation making it an outlier in the