U.S Markets Volatile Ahead of Fed Meeting Report
Stocks in the U.S. markets stayed volatile as traders stayed cautious ahead of the latest Federal Reserve meeting report.
The S&P 500 stayed flat while energy shares fell. Tesla rallied with the company bouncing back from a three-day selling. However, general indices are waiting for cues about inflation, interest rates and more from the Federal Reserve.
Stoxx Europe is up by 0.076%
Dow Jones is down by 0.11%
NASDAQ is down by 0.043%
Tencent Reports 20% Rise In Q2 Sales
Tencent reported a 20% rise in sales to 138.3 billion yuan (Rs 1,58,470 crores) for the three months ended June, in line with the 138.2 billion yuan average forecast. Net income is at 42.6 billion yuan(Rs 31,6495 crores) against the forecast of 30.8 billion yuan(2,28,827) supported by a gain of more than 20 billion yuan(Rs 1,48,589 crores) on its investments around the world.
Afghan Minister Requests Interpol To Arrest Ashraf Ghani
Afghan Defense Minister Bismillah Khan Mohammadi on Wednesday urged Interpol to arrest President Ashraf Ghani for escaping from Afghanistan and “selling out the motherland”. The Afghan embassy in Tajikistan also asked Interpol to detain Ghon on embezzlement charges.
Geely Automobile Holdings Warns Of Chip Shortage
China’s Geely Automobile Holdings on Wednesday warned of a short-term global chip shortage, but the company kept its annual sales target. Geely made revenue of 45 billion yuan in the first six months of 2021 and will be having multiple product launches in the coming months. The sales are up by 19% to 630,237 cars, but below a 27% growth in China’s overall passenger vehicle sales.
No More Late Fees For Buy Now, Pay Later Purchases: PayPal
PayPal Holdings on Wednesday announced it will no longer charge late fees for late payments on buy now, pay later products. The new decision will be in effect from October 1 and through this, the company expects to make its products more affordable and attractive for consumers.
