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Nasdaq hits correction, Dow advances as stimulus bill nears finish line
NEW YORK: Technology-related shares sold off on Monday in a big downturn that pushed the Nasdaq into corrective territory and offset stocks that rose on hopes the US$1.9 trillion COVID-19 relief bill will spur the U.S. economy.
GameStop frenzy reveals broader market stress
Concerns could make investors more risk-averse
GameStop frenzy reveals potential for broader market stress
NEW YORK: As the trading frenzy in GameStop Corp shares and other social media favorites recedes, investors are eyeing signs of potential market stress that could weigh on broader stock performance in coming weeks.
Disney Plus streaming service eyes Malaysia launch
LOS ANGELES: Plans may be afoot for the launch of streaming service Disney Plus in Malaysia. In the past few days verified accounts for the service appeared on Facebook and Instagram, though the Facebook one was subsequently taken offline.
Disney cuts Iger’s pay 56% to US$21mil, axes bonuses in wake of pandemic
BURBANK: Walt Disney Co executive chairman Bob Iger (pic) saw his pay decline 56% to US$21mil last year, after the company curtailed bonuses and other compensation in the wake of the pandemic.
Saudi Arabia offers US$6trl investment opportunities
LONDON: Saudi Crown Prince Mohammed bin Salman said the kingdom offers investment opportunities worth $6 trillion over the next decade, with new projects representing half of this value, the state news agency reported, citing his speech at the World Economic Forum on Wednesday.
India's Ambani must deliver after selling dream for US$27b
MUMBAI: Mukesh Ambani spent much of 2020 convincing Facebook Inc., Google and a clutch of Wall Street heavyweights to buy into his vision for one of the world’s most ambitious corporate transformations.
SPACs on the rise on Wall Street and beyond
New York: Jay-Z, Shaquille O’Neal and Martin Luther King III have been among the prominent figures to recently join Wall Street’s special purpose acquisition company (SPAC) craze.
US expected to report slowest job growth in six months
WASHINGTON: U.S. employers likely hired the fewest workers in six months in November, hindered by a resurgence in new COVID-19 cases that, together with a lack of more government relief money, threatens to reverse the recovery from the pandemic recession.
Universal Studios to open US$580mil Nintendo park in February
TOKYO: Universal Studios Japan plans to open its US$580mil Nintendo attraction on Feb 4, finally debuting a long-delayed effort to introduce Mario and other beloved characters to real-world theme park visitors.
