Markets

Uber posted $6 billion in losses in the first quarter due to its investments in Didi and Grab. Shares of the two Asian ride-hailing giants have plunged since they were listed in the US last year. Overall, Uber’s performance is up from a year ago, with bookings up 35% to $26.4 billion. Loading Something is… Continue reading Uber lost almost $6 billion in the first quarter as shares of Asian ride-hailing giants Didi and Grab tanked

The Russian ruble closed 6.6% higher on Wednesday — a two-year high against the US dollar. The currency had sunk to a record low in early March due to sweeping sanctions over the Ukraine war. The Kremlin has been propping up the ruble via capital controls. Loading Something is loading. The European Union may be… Continue reading The Russian ruble has hit an over 2-year high even as the EU plans to intensify sanctions against the country with an oil embargo

Independent Chinese oil refineries have been buying Russian crude on the cheap, the Financial Times reported. It comes as the US and UK shun Russian oil, and the EU debates a total ban on imports from the country. Russian oil is trading at a steep discount to global benchmark prices, attracting some buyers. Loading Something is… Continue reading China’s independent oil refiners are buying Russian supplies on the cheap, report says

Oil rallied on Wednesday, after the EU unveiled a proposal to phase out Russian crude imports within six months. European Commission President Ursula von der Leyen said the aim is to ratchet up pressure on Moscow for its war in Ukraine. “Russian fossil fuels are soon going to be history for western Europe and its… Continue reading Oil and natural gas jump in Europe after EU unveils plans to phase out Russian crude within 6 months

The EU has put forward proposals for a total ban on Russian oil imports, phasing out crude within six months. European Commission chief Ursula von der Leyen is looking to ban refined products by the end of the year. Officials from the 27 countries that make up the EU will meet later on Wednesday to… Continue reading The EU proposes a total ban on Russian oil imports, cutting out crude within 6 months

Elon Musk told investors he could take Twitter public in three years, per the Wall Street Journal. He may be trying to convince investors that he would move quickly to raise Twitter’s profitability. The three-year window could be tight, however, and Musk has said he isn’t good with deadlines. Loading Something is loading. Elon Musk,… Continue reading Elon Musk says he could take Twitter public again in as soon as 3 years: WSJ

US stocks edged higher Tuesday ahead of a key Federal Reserve decision.  Wall Street broadly expects the central bank to hike rates by 50 basis points at the conclusion of its meeting tomorrow.  “Clearly you don’t want to own bonds or stocks,” billionaire investor Paul Tudor Jones told CNBC.  Loading Something is loading. US stocks… Continue reading US stocks end higher in choppy trading session as oil prices and bond yields fall ahead of critical Fed decision

Enhancements continue DocRecord’s leadership role for low-cost ECM with intelligent work process automation for midsize organizations , /PRNewswire/ — DocRecord’s new v7.1, by Prism Software, continues expanding the capabilities and value of ECM (electronic content management) with intelligent work process automation to midsize organizations. It introduces new enhancements and features that further enable the custom… Continue reading Prism Software Releases Latest DocRecord; Affordable All-Inclusive ECM with Advanced Work Process Automation