As the panic-selling cloud of dust starts to settle, a handful of companies are clearly equipped to survive an uncertain future.
Recently, Frost & Sullivan researched the virtual care delivery industry and, based on its analysis results, recognizes Amwell® (NYSE: AMWL) with the 2022 North America Customer Value Leadership Award. Amwell provides comprehensive digital healthcare enablement enterprise technology and services for health systems, health plans, employers, government agencies, and physicians. It offers a platform with a comprehensive range of digital health solutions designed to improve patient experience and ou
Crypto exchange Zipmex will release Ethereum and Bitcoin tokens from this week, a spokesperson said on Monday, allowing 60% of its customers to retrieve their digital assets after a suspension of withdrawals from its Z Wallet product. The Singapore-based Zipmex, which also operates in Thailand, Australia and Indonesia, in July halted withdrawals from Z Wallet, which it said had $53 million worth of cryptocurrencies exposed to Babel Finance and Celsius. Ethereum will be released on Thursday and Bitcoin on Aug. 16, the company said.
Latin American companies could replace at least some of the Chinese companies' initial public offerings (IPOs) that have disappeared from western markets this year, a senior Nasdaq executive said. Regulators in Beijing and Washington have increased their scrutiny of Chinese companies listed in the United States, and a dispute over access to audit papers could lead to Chinese companies being delisted from U.S. exchanges. Four Latin American Companies were listed, down from 20 last year, and 11 companies from countries in Southeast Asia, compared with 19 last year.
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BEIJING (AP) — The capital of China's Hainan province has locked down its residents for 13 hours on Monday as a COVID-19 outbreak grows on the tropical island during the summer school holidays. The temporary lockdown of Haikou city from 7 a.m. to 8 p.m. follows an ongoing and indefinite lockdown of the beach resort of Sanya since Saturday that is confining vacationers to their hotels for a week. Four other cities and four counties in Hainan also started lockdowns of two days or more on Sunday an
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CALGARY — Suncor Energy Inc. says its Commerce City refinery in Colorado is back up and running after an equipment malfunction earlier Monday. Suncor spokeswoman Mita Adesanya said the malfunction caused the safety system within one of the units at the refinery to activate. She said the system worked as designed, shutting down the equipment to prevent any further disruption to operations. Suncor sent out an alert Monday morning warning residents in the area that the temporary shutdown could resu
Billionaire hedge fund manager Ray Dalio's huge popularity in China has not only drawn local investors flocking to his funds but also spawned home-grown challengers using his "All Weather" strategy and brand to try to beat him at his own game. Now, the Connecticut-based hedge fund giant he founded, Bridgewater Associates, is pushing back. In recent months, Bridgewater registered in China several "All Weather" trademarks in English and Chinese, an effort to tackle the "confusion" created by local copycats, said Joanna Alpert, Bridgewater China's portfolio manager.
Britain's accounting watchdog said on Monday it had fined auditor PwC 1.75 million pounds ($2.12 million) after it failed to properly challenge UK telecoms group BT once a half-a-billion pound fraud was discovered in BT's Italian operations. BT's full-year financial statement for the year ended March 31, 2017, had to be adjusted by 513 million pounds due to the fraud, the Financial Reporting Council (FRC) said. "The sanctions imposed in this case, where certain elements of the adjustments following a fraud were not subject to the required level of professional scepticism, underscore this message and will serve as a timely reminder to the profession," Claudia Mortimore, deputy executive counsel at the FRC, said in a statement.
DHAKA, Bangladesh (AP) — Bangladesh on Sunday sought cooperation from China to repatriate Rohingya refugees to Myanmar during a visit by Foreign Minister Wang Yi, who promised better trade ties, investment and support for infrastructure development in the South Asian nation. China had used its influence in Myanmar to broker a November 2017 agreement to repatriate about 700,000 Rohingya Muslim refugees who fled persecution in Myanmar in August that year. Despite attempts to send them back, the re
BERLIN (AP) — Local officials with German Chancellor Olaf Scholz’s party rejected a bid to expel former Chancellor Gerhard Schroeder over his close ties to Russia, the news agency dpa reported Monday. An arbitration committee of the center-left Social Democrats’ branch in Hannover, where Schroeder lives, considered 17 applications from party members for proceedings against him. Schroeder’s longstanding connections to the Russian energy sector and refusal to distance himself fully from President
WASHINGTON (Reuters) -A group representing General Motors, Toyota Motor, Volkswagen and other major automakers said a $430 billion bill approved Sunday by the U.S. Senate will put achieving U.S. electric-vehicle adoption targets for 2030 in jeopardy. "Unfortunately, the EV tax credit requirements will make most vehicles immediately ineligible for the incentive," said the Alliance for Automotive Innovation's chief executive, John Bozzella, adding the bill "will also jeopardize our collective target of 40-50% electric vehicle sales by 2030." The group had warned Friday that most EV models would not qualify for a $7,500 tax credit for U.S. buyers under the bill.
SoftBank Group Corp is planning to cut headcount at its flagship Vision Fund investing arm, CEO Masayoshi Son said on Monday, after a crash in the value of its portfolio pushed his conglomerate to a record quarterly net loss. Vision Fund, which upended the world of venture capital with splashy bets on startups such as ridehailers Uber and Didi, posted a $23.1 billion loss in the April-June quarter as value evaporated from its investments in the market rout. "The world is in great confusion," Son said at an earnings news conference.
Northrop Grumman has signed a launch deal with Elon Musk's SpaceX to send three cargo missions to the International Space Station while the company builds an upgraded version of its workhorse Antares rocket, a Northrop spokeswoman said on Monday. The launch agreement with SpaceX coincides with Northrop climbing out of a months-long predicament with its workhorse Antares rocket, whose Russian-made engines were cut off from the United States in March by Moscow in retaliation for Western sanctions over its invasion of Ukraine. "The launches will take place in late 2023 and 2024 from the Kennedy Space Center, Florida in support of the NG-20, -21 and -22 CRS missions," Northrop spokeswoman Ellen Klicka said in an email.
NEW YORK (AP) — The stylized action romp “Bullet Train," starring Brad Pitt, arrived with a $30.1 million opening weekend, according to studio estimates Sunday, as the last big movie of Hollywood's summer recovery landed in theaters. The “Bullet Train” debut for Sony Pictures was solid but unspectacular for a movie that cost $90 million to make and was propelled by Pitt's substantial star power. Even if it holds well in coming weeks, movie theaters have no major studio releases on the horizon fo
Latin American companies could replace at least some of the Chinese companies' initial public offerings (IPOs) that have disappeared from western markets this year, a senior Nasdaq executive said. Regulators in Beijing and Washington have increased their scrutiny of Chinese companies listed in the United States, and a dispute over access to audit papers could lead to Chinese companies being delisted from U.S. exchanges. Four Latin American Companies were listed, down from 20 last year, and 11 companies from countries in Southeast Asia, compared with 19 last year.
TORONTO — Martinrea International Inc. says it had net income of $25.5 million for the quarter ending June 30, up from $24 million for the same quarter last year. The automotive parts manufacturer says adjusted net income was also $25.5 million, which worked out to 32 cents per share, while adjusted net income last year was $27 million or 34 cents per share. The Toronto-based company says total sales were $1.11 billion, up 26 per cent from last year. Analysts had expected adjusted earnings of 30
The deal marks a continuation of BP's reshaping of its North American oil and gas operations, as it tries to cut its greenhouse gas emissions to appease investors. Cenovus said the Toledo refinery recently completed a major, once in five years turnaround, and the deal will bring company's total refining capacity to 740,000 barrels per day. "Fully owning the Toledo refinery provides a unique opportunity to further integrate our heavy oil production and refining capabilities," Alex Pourbaix, Cenovus's chief executive officer, said in a statement.
TOKYO (AP) — Asian shares mostly declined Tuesday amid a global fall in technology shares, including Japan's SoftBank, which has reported hefty losses caused by the market downturn. Such worries are coming on top of concerns about inflation and what central banks might do to curb that trend. Higher interest rates tend to work as a minus for share prices. Shares fell in Tokyo but rose in other regional markets. U.S. futures edged higher while oil prices fell. Japan's technology investor SoftBank
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