Tag: Business
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Microsoft’s Xbox chief lays out plan to pass rivals on margin by 2030 in memo to employees
Microsoft’s gaming unit wants to invest in its Minecraft franchise and expand through partnerships, including in China.
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Microsoft sets record with near $450 billion single-day gain in market value
July 30 : Microsoft added nearly $450 billion in market value on Thursday, the largest one-day gain on record for a company, after it forecast stronger-than-expected cloud growth and signaled continued cash generation through its new fiscal year.The software giant’s shares closed up more than 15 per cent, lif
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Reddit flags volatile search referrals as US user growth slows
July 30 : Reddit said on Thursday that choppy search-engine traffic affected U.S. user growth in the second quarter, overshadowing an upbeat revenue forecast and sending its shares down around 13 per cent in extended trading.The social media company operates in a highly competitive market. Bigger rival Meta t
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Roblox forecasts quarterly bookings below estimates as safety features dampen engagement
July 30 : Gaming platform Roblox forecast quarterly bookings below Wall Street estimates on Thursday, as tougher age-verification measures weigh on onboarding and engagement, sending its shares down about 12 per cent in after-hours trading.The company has implemented age verification following heightened scru
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Crypto exchange Coinbase logs third straight quarterly loss on trading slowdown
July 30 : Coinbase Global posted a third straight quarterly loss on Thursday, hurt by lower trading volumes as a prolonged downturn in cryptocurrency markets curbed trading activity.Shares of the crypto exchange were down 5.3 per cent in trading after the bell. Cryptocurrency markets came under pressur
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Bank of America to buy UK’s MDSec Consulting to bolster cyber defenses
July 30 : Bank of America said on Thursday it plans to acquire information security firm MDSec Consulting Ltd, as it bolsters its capabilities against cyber attacks. The deal is expected to be completed during the fourth quarter of 2026 following regulatory approval, the second-biggest U.S. lender said in a state
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Japan conducts massive yen-buying intervention, Nikkei reports
TOKYO, July 31 : Japan conducted massive yen-buying, dollar-selling market intervention in New York markets on Thursday, the Nikkei newspaper reported, citing market sources.U.S. authorities also conducted so-called “rate checks,” which are precursors for currency intervention, a sign Tokyo and Washington wer
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BOJ to keep rates steady, deliver hawkish signal as price pressures mount
TOKYO, July 31 : The Bank of Japan is set to keep interest rates steady on Friday but signal its resolve to continue pushing up borrowing costs, as mounting price pressures from the weak yen and Middle East conflict risk driving underlying inflation above its target.The expected hawkish signals from the BOJ w
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Producer sues Netflix for $105 million over missing Nicolas Cage movie
LOS ANGELES, July 30 : A movie producer is seeking $105 million in damages from Netflix after he says a copy of his unreleased Nicolas Cage movie was stolen from the streaming service’s studios in Hollywood.Attorneys for producer Simon Afram said in a lawsuit filed on Wednesday in California that the filmmake
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Microsoft set for record one-day market cap gain after upbeat Azure forecast
July 30 : Microsoft’s shares soared more than 16 per cent on Thursday, putting the company on track for a record one-day gain in market value after it said it expects to keep generating cash through its new fiscal year and forecast cloud growth above Wall Street expectations.If gains hold, the software giant
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