GUANGZHOU, China — China’s government has opened a new battlefront with the country’s technology giants, looking to target their collection and use of data. On Monday, the Cyberspace Administration of China (CAC) also opened a cybersecurity probe into U.S.-listed Boss Zhipin and subsidiaries of Full Truck Alliance. It came a day after the CAC ordered app stores in the country to […] Read more
Stocks rose on Friday and the S&P 500 hit another record high after the June jobs report showed an accelerating recovery for the U.S. labor market. The broad market index rose 0.75% to 4,352.34, while the tech-heavy Nasdaq Composite climbed 0.81% to notch its own record at 14,639.33. The Dow Jones Industrial Average added 152.82 […] Read more
OPEC heads into Thursday’s meeting with Russia and other allies with a better command of world oil prices than it has had in years, analysts said. OPEC+, the organization of oil-producing countries and its allies, is expected to consider adding between 500,000 and 1 million barrels per day, but analysts said there is some talk […] Read more
The U.S. lags behind China and Europe when it comes to production and uptake of electric vehicles domestically, according to a new study by the International Council on Clean Transportation — and that gap widened from 2017 to 2020. The world manufactured more than 10 million electric passenger vehicles between 2010 and 2020, according to […] Read more
Bitcoin continued to rebound from its lows for the year on Wednesday. The cryptocurrency sank below the key $30,000 threshold Tuesday, at one point briefly erasing all its 2021 gains. It later recovered to turn positive for the day. On Wednesday, bitcoin surged 18%, climbing back above the $34,000 mark in early morning trading, according to Coin Metrics data. […] Read more
The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures. The broad equity benchmark climbed nearly 0.5% to a record closing high of 4,239.18. The S&P 500 also hit an intraday record of 4,249.74, overtaking its May 7 high […] Read more
Bitcoin’s price slipped again Tuesday amid a brutal sell-off among digital currencies. The reason for the move was unclear, however it may be related to concerns over security of the cryptocurrency after U.S. officials managed to recover most of the ransom paid to hackers that targeted Colonial Pipeline. Court documents said investigators were able to access […] Read more
Apple could see a significant decline in sales of its flagship iPhone, and investors should get out before the stock tumbles, according to a note from New Street Research. The tech giant reported nearly $48 billion in iPhone sales for its fiscal second quarter, helping the company blow past analyst estimates for earnings and revenue. Several analysts have […] Read more
Crypto bulls have long championed bitcoin as a modern-day replacement for gold, and by one measure, the new market is already close to surpassing bullion in that respect. The total value of the cryptocurrency market now stands above $2 trillion, putting it on nearly equal footing with the amount of gold held for private investment […] Read more
Technology shares led the broader market lower on Monday as investors dumped high-flying Big Tech stocks and bet on companies leveraged to a strong economic comeback. The Nasdaq Composite dropped 2.3% as Amazon and Apple lost more than 2% each. Facebook and Netflix both dropped over 3%. Tesla shed more than 6%. The Dow Jones […] Read more
