Coinbase said on Tuesday that it will cut about 700 jobs, representing roughly 14% of its global workforce, as part of a broader restructuring effort aimed at reducing costs and repositioning the business for the artificial intelligence era. The company indicated that the majority of the restructuring process is expected to be completed in the
Luxury sportscar maker Ferrari reported a 4% rise in core earnings for the first quarter, supported by robust demand for vehicle personalisations and higher-priced models, including the F80 supercar. The company said earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at €722 million for the January–March period, slightly ahead of the €705 million
The iShares 20-Year Treasury Bond ETF (TLT) dropped sharply on Monday as long-term government bond yields soared. TLT dropped to $84.9, its lowest level since March 27. It remains 5.50% below its highest point in February this year. TLT ETF drops as US 30-year Treasury yields soar American and foreign investors are selling long-term government
Oil prices fell more than 2% on Tuesday, but Brent crude was still above $110 per barrel as re-escalation in tensions in the Middle East limited losses. Gold prices recovered after dropping to a five-week low in the previous session. This rebound occurred as oil prices slightly decreased. Meanwhile, silver contracts on COMEX edged higher,
The United Arab Emirates’ surprise exit from OPEC marked a turning point in global energy politics, signalling a shift from cartel discipline to a market-driven strategy, even as the Strait of Hormuz remains choked by war disruptions. The move ended nearly six decades of membership and removed the cartel’s third-largest producer, marking one of the
Shares of PayPal Holdings Inc. (NASDAQ: PYPL) fell sharply in premarket trading, down more than 10%, despite the company reporting first-quarter results that exceeded analyst expectations. The decline reflects investor concern over its near-term earnings outlook and ongoing restructuring efforts under new leadership. The payments platform posted revenue of $8.40 billion for the first quarter,
Alphabet Inc. is moving ahead with its largest-ever euro-denominated bond sale, attracting strong investor demand as it ramps up funding for artificial intelligence (AI) investments. The company has received more than €25.2 billion in orders for a planned debt sale of at least €9 billion. The offering is expected to be split into six parts
Wall Street’s main indexes recovered on Tuesday, as easing oil prices provided relief to equity markets despite renewed tensions in the Middle East that continue to cloud the global outlook. Dow Jones Industrial Average rose 198 points, or 0.41%, while the S&P 500 gained 0.63% and the Nasdaq Composite climbed 0.87%. The rebound followed a
The FTSE 100 Index retreated for four consecutive days as UK government bond yields surged and after HSBC published a weak financial report. It dropped to £10,225 on Tuesday, down sharply from the year-to-date high of £10,935. Soaring UK Gold yields A key reason why the FTSE 100 Index pulled back is that UK bond
Shares of Anheuser-Busch InBev rose sharply on Tuesday after the world’s largest brewer reported first-quarter results that exceeded analyst expectations, supported by resilient beer demand and a return to volume growth. American depositary receipts climbed 9.3%, building on gains earlier this year, after the company posted adjusted earnings per share of 97 cents, up from