Finance

A man wearing a mask as a preventive measure against the spread of Covid-19 walks in London. May James | SOPA Images | LightRocket via Getty Images The U.K. economy contracted by 9.9% in 2020, its largest annual contraction since records began, as the coronavirus pandemic ravaged economic activity. In the final quarter of the

The bronze Charging Bull in the financial district of New York City. Robert Nickelsberg | Getty Images  LONDON — The SPAC craze is starting to gain some momentum in Europe.   After a banner year for so-called special purpose acquisition companies in the U.S., a growing number of blank-check firms are raising funds with the intention

Chris Ratcliffe | Bloomberg | Getty Images LONDON — Bill Michael, U.K. chairman of accounting giant KPMG, has quit his role after telling staff to stop moaning about the coronavirus pandemic during a virtual meeting earlier this week.  KPMG on Friday confirmed that Michael, who has headed up the U.K. firm since 2017, had resigned

Luis Alvarez The GameStop bubble has come and gone but the rookie investors who speak emoji and Reddit may be here to stay with big implications for brokerage firms, as well as traditional investors who must pay closer attention to where this fast-moving, smartphone app-wielding crowd is moving next. “We believe some of the new

The New York Stock Exchange welcomes Desktop Metal Inc. (NYSE: DM), today, Thursday, December 10, 2020, in celebration of its listing. To honor the occasion, Ric Fulop, Co-Founder and CEO, rings The Opening Bell®. NYSE Roger Lee of Battery Ventures says that “SPAC” used to be a “bad four-letter word” in Silicon Valley. Now, the

A visitor wearing a mask walks outside the Shanghai Disney Resort, that will be closed during the Chinese Lunar New Year holiday following the outbreak of a new coronavirus, in Shanghai, China January 24, 2020. Aly Song | Reuters Check out the companies making headlines in midday trading.  Walt Disney Company — Shares of the

Senator Amy Klobuchar speaks at the Democratic 2020 U.S. presidential candidates debate at Saint Anselm College in Manchester, New Hampshire, U.S., February 7, 2020. Brian Snyder | Reuters There is growing hostility to mergers and acquisitions (M&A) among an increasing number of policymakers in Washington, D.C. Last year, some in Congress called for a merger

Take a look at some of the biggest movers in the premarket: Walt Disney (DIS) – Disney reported quarterly profit of 32 cents per share, surprising analysts who had expected a loss of 41 cents per share. Disney saw a not-unexpected slump in theme park attendance and box office results due to Covid, but the

Traders work on the floor of the New York Stock Exchange. NYSE Futures tied to major U.S. equity benchmarks were flat in overnight trading on Thursday as Wall Street looked set to wrap up the week with modest gains. Dow Jones Industrial Average futures dipped 27 points. S&P 500 futures and Nasdaq 100 futures both

Andrew Harrer | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Tilray, Canopy Growth, Aphria, Aurora Cannabis — Several cannabis stocks dropped Thursday, giving up some of the sharp gains from earlier this week as Reddit traders piled into the names. Shares of Tilray fell more than 40% after rallying

Check out the companies making headlines before the bell: PepsiCo (PEP) – The beverage and snack giant beat estimates by a penny with adjusted quarterly earnings of $1.47 per share, and revenue was above estimates as well. The company said it expects to see organic revenue and adjusted profit growth this year, and also announced

A popular spot targeted by retail investors may deliver the year’s biggest gains. Wells Fargo Securities’ Chris Harvey said he believes the affinity for small caps has merit because growth stocks have gotten so expensive. “Retail is very influential,” the firm’s head of equity strategy told CNBC’s “Trading Nation“ on Wednesday. “They’re becoming a bigger part

Federal Reserve Jerome Powell testifies during a Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress” on Capitol Hill in Washington, U.S., December 1, 2020. Susan Walsh | Reuters Federal Reserve Chairman Jerome Powell painted a dour picture on the state of U.S. employment and said Wednesday that continued aggressive policy support

Take a look at some of the biggest movers in the premarket: Coca-Cola (KO) – Coca-Cola reported quarterly earnings of 47 cents per share, 5 cents a share above estimates. The beverage giant’s revenue essentially came in line with Wall Street forecasts. The company saw a year-over-year decline in revenue, income and case volume, but

U.S. stock were flat in overnight trading on Tuesday following the regular session that snapped a six-day winning streak on Wall Street. Dow futures rose 35 points. S&P 500 futures gained 0.14% and Nasdaq 100 futures rose 0.13%. Better-than-expected earnings from Twitter, Lyft, Cisco Systems, Mattel and Yelp boosted sentiment on Wall Street. Lyft reported

The GameStop Corp. logo on a smartphone and the Robinhood website on a laptop computer. Tiffany Hagler-Geard | Bloomberg | Getty Images GameStop, the poster child of a recent speculative retail trading frenzy, tumbled below $50 apiece on Tuesday, as the massive short squeeze took effect and investors booked profits. The brick-and-mortar video game retailer

Take a look at some of the biggest movers in the premarket: Coty (COTY) – The cosmetics company reported quarterly profit of 17 cents per share, 10 cents a share above estimates. Revenue essentially was in line with forecasts. Coty said its profit got a boost from increased cost savings even as demand was dented

Automated teller machines of the three Singapore-listed banks: OCBC, DBS and UOB. Munshi Ahmed | Bloomberg | Getty Images SINGAPORE — Singapore’s three largest banks could receive a boost in profitability this year after a challenging 2020, as economic activities recover on the back of the city-state’s relative success in controlling the pandemic. That brighter

A police officer directs Miami-Dade County residents as they line up in their cars to receive a paper unemployment form on April 7, 2020 in Hialeah, Florida. Daniel A. Varela/Miami Herald/Tribune News Service via Getty Images Millions of workers have left the labor force since the early days of the Covid pandemic. That’s bad news

Take a look at some of the biggest movers in the premarket: Hasbro (HAS) – Hasbro reported quarterly profit of $1.27 per share, 13 cents a share above estimates. Revenue also exceeded forecasts, boosted by ongoing increased interest in its board games and toys amid the pandemic. Hasbro shares rose 2.8% in premarket trading as