Nintendo Japan Maintain Profit On Console and Games Sales
Japan’s Nintendo (7974.T), Tuesday reported a 23% increase in quarterly profit on strong Switch 2 sales and said rising memory chip prices are not affecting profitability this year. The “Super Mario” maker maintained its annual earnings and hardware forecasts, predicting 19 million Switch 2 sales. “Despite a lack of exclusive blockbusters, Switch 2 sold like…
EV Polestar Got $400 Million Equity Investment
Electric car maker Polestar (PSNY.O) announced a $400 million equity investment from Feathertop Funding Limited, a special purpose firm established by Sumitomo Mitsui Banking Corporation and Standard Chartered Bank. In December, Spain’s BBVA (BBVA.MC) and France’s Natixis invested $300 million and Polestar’s main owner, China’s Geely Holding, borrowed up to $600 million.“Following the new equity…
Bitcoin Slip To Under $80.000 On Febuary 1st
Bitcoin, the top cryptocurrency by market value, fell by 6.53% to $78,719.63 at 12:48 p.m. on Saturday, continuing losses from the previous session.Bitcoin sank to $81,104, its lowest level since November 21, when the U.S. dollar rose after former Fed Governor Kevin Warsh was named Fed chair. Investors and traders worry about a possible cash…
Fintech Loan SoFi Booked 78% Revenue
SoFi Technologies (SOFI.O) reported a higher fourth-quarter earnings due to strong loan demand and rapid expansion in its fee-based operations. Premarket trading saw the stock rise 5.7%.In the quarter ending December 31, SoFi’s credit card and investing company revenue rose 78% to $456.7 million. SoFi, a student-loan refinancer founded in 2011, now offers personal loans,…
Indonesia’s Face Market Rage Near $80 Billion Drop
Indonesia’s finance regulator and stock exchange officials hastily resigned on Friday following last week’s $80 billion stock market fall and concerns about transparency and governance. Jakarta stocks fell the most in two days since April after MSCI threatened to downgrade them to “frontier” status, putting pressure on officials to restore investor confidence.The OJK Financial Services…
Ukraine’s Inflation Drop, Economic Raise Steadily
Slowing inflation and more certainty about international financial aid this year led Ukraine’s central bank to drop its key interest rate to 15% from 15.5% on Thursday. The central bank forecasts consumer price inflation to fall in January after falling to 8% in December. Governor Andriy Pyshnyi said the central bank started interest rate policy…
SBI Cards Gain Profit as India Festive Season Starts
SBI Cards and Payment Services (SBIC.NS), opens new tab reported a rise in third-quarter profit due to increasing credit card use over the Indian festive season. Profit after tax jumped 45% to 5.57 billion rupees ($60.59 million) for the three months ended December 31, from 3.83 billion a year earlier. SBI Card saw an increase…
Inflation and Job availability Stomp as Consumer Confidence Drop To It’s Lowest
In January, U.S. consumer confidence dropped to its lowest level in 11-1/2 years due to concerns about a slow labor market and high prices, potentially leading to increased spending caution. Though confidence and consumer spending have been sluggish, economists worry that bad labor market perceptions contributed to the fall. Consumer job availability perceptions were lowest…