#DavidEllison, 41, would not be the first #rich guy to arrive in Hollywood with a fat bank account and dreams of making movies, though the son of billionaire Oracle (NYSE:ORCL) founder Larry Ellison boasts the rarest of attributes for a budding media mogul: a Silicon Valley pedigree. In an industry where many get their start […]

#Norway’s sovereign wealth fund has backed #UBS’ plan to make its Additional Tier 1 (AT1) bonds, a form of debt, more appealing to investors by protecting them from a wipeout, and also signed off on #UBSCEO #SergioErmotti’s pay package. The vote from the Norwegian fund, UBS’ second-largest shareholder, at the bank’s annual general meeting this

#Frenchluxury #group #Kering (EPA:#PRTP) expects a 40% to 45% plunge in first-half operating profit, it said on Tuesday, after first-quarter sales declined as wealthy shoppers curbed spending on products from its star label Gucci. Sales for the three months ending in March stood at 4.5 billion euros ($4.82 #billion), down 10% on a comparable basis.

#Transak, a Web3 #payments processor, has achieved a notable milestone on its path to an initial public offering (#IPO) by reaching profitability,  The Web3 company announced its first-ever #quarterlyprofit, coinciding with surpassing $1 #billion in lifetime gross transaction volume (GTV) for the quarter ending March 31, 2024. The company sees this achievement of #EBITDA positivity

#Analysts at #JPMorgan believe it is too soon to rotate out of artificial intelligence #stocks, #despite the recent concerns. Shares of tech companies dipped recently due to concerns around the potential air pocket in the AI infrastructure build out. As a result, there was a steep sell off for AI #levered companies in JPMorgan’s #coverage.

   Main #usaindexes climbed Tuesday ahead of earnings reports from #megacap tech companies later this week. Here are some of the biggest #premarket U.S. #stock movers today: #Apple (NASDAQ:AAPL) stock rose 0.3% despite news that iPhone sales in #China plummeted by 19% during the March quarter, according to data from Counterpoint Research, #marking the device’s poorest performance

Today, the #electric #vehicle (EV) giant #Tesla (NASDAQ:#TSLA) is poised to release its earnings report, a crucial event that will shed light on the company’s financial performance. With Tesla grappling with several challenges, the current sentiment for Tesla stock is not optimistic. Since the beginning of 2024, Tesla shares have experienced a significant decline, plummeting

  #usastocks edged higher Tuesday, as investors digested a deluge of quarterly #earnings ahead of results from some of the country’s biggest technology firms later this week.  AT 09:35 ET (13:35 GMT), #Dow Jones #Industrial #Average rose 115 points, or 0.3%, S&P 500 gained 21 points, or 0.4%, and #NASDAQ #Composite rose 93 points, or 0.6%. Easing concerns over a broader

General Motors (NYSE:GM) reported a robust first quarter in 2024, with earnings and revenue surpassing Wall Street expectations and the company raising its full-year guidance. The automaker announced an adjusted EPS of $2.62, which was $0.50 higher than the analysts’ estimate of $2.12. Revenue for the quarter was also strong at $43.01 billion, exceeding the

Global equities, after a robust start to the year, have seen pullbacks in recent weeks. The downturn comes amidst a backdrop of stretched positioning and optimistic sentiment, with geopolitical tensions and the prospect of persistently high interest rates spurring profit-taking among investors. As a result, the S&P 500 has dropped more than 5% this month, falling below the