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Google-parent Alphabet will post its second-quarter earnings on Thursday, with investors aware that the group has been the worst performing stock in the FAANG (Facebook, Amazon, Apple Netflix, Google) pack this year. Analysts expect Alphabet, led by chief executive Sundar Pichai (pictured), to report revenues of $37.37bn in the second quarter, down 4% from $38.9bn…
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Gold rallied to a new record high of $1,944 per ounce on Monday, breaching its previous all-time high of $1,921 per ounce that it hit in 2011. The US dollar meanwhile fell to multi-year lows. Gold, viewed as a safe haven, has been among the best performing asset class this year and is up 27%…
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Carlyle Group co-chief executive Glenn Youngkin (pictured, left) announced he is stepping down after less than three years at the helm. This move will see Kewsong Lee (pictured, right) taking over as sole chief executive of the private equity giant in the middle of the coronavirus pandemic. The abrupt exit, announced last Tuesday, leaves the…
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PayPal Holdings (PYPL) will report second-quarter results on Wednesday and optimism is high among investors after strong indications for improved performance. Analysts expect PayPal’s robust product portfolio, which includes One Touch, Xoom and Venmo, and higher customer numbers to be reflected on the firm’s bottom line. The second quarter coincided with the height of the…
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Apple and Nike are vulnerable to escalations in US-China tensions, according to Mark Tepper, president of money manager Strategic Wealth Partners, as relations between the world’s two biggest economies have soured amid tit for tat closures of consulates. “China accounts for about 20% of revenues for both companies, and I think what people need to…
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America’s top executives are selling their shares at a pace only seen twice in the last three decades, which could be a signal that the market is either at its top or getting close it. According to data from Washington Service, a company that monitors insider activity in the US based on Securities and Exchange…
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The US economy is headed for a double-dip recession, which means that the pandemic recovery would be W-shaped and not V-shaped as stock markets seem to believe, warned leading economist Stephen Roach (pictured). “The odds of a relapse, not just the virus but in the economy itself — the so-called dreaded double-dip, is very real,”…
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Warren Buffett ploughed more than $800m into Bank of America stock this week boosting his stake in the banking giant. The billionaire investor and Berkshire Hathaway chief executive bought just under 34 million shares at an average price of $24 between Monday and Wednesday, according to SEC filings. The investment cost $813m and boosts his…
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Hydrogen-powered energy sources are staging a comeback after failing to live up to expectations ten years ago, with analysts pointing to significant strides from government-backed projects. Hydrogen’s main advantage is the fact that it is the most abundant element on earth, which gives it an edge compared to non-renewable sources of energy like oil. It…
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New York-based investment firm Grayscale Investments has received the green light from industry regulators to launch two new cryptocurrency stocks to the public that will track the value of Litecoin and Bitcoin Cash. Litecoin, one of the first digital currencies to be released along with Bitcoin, and Bitcoin Cash, a token that resulted from a…
