On average, the stocks have climbed 46% year to date, versus 12% for the S&P 500, according to the Goldman report dated April 26.
AMC Entertainment Holdings Inc.
Electric vehicle manufacturer Tesla earned $101 million in profit from its bitcoin holdings in the first quarter of 2021, according to its Q1 2021 earnings report.
“Between different White House administrations, the margin of differences could increase or decrease but we agree with the Biden administration” about 90% of the time, he added.Asked about the kingdom’s regional rival, Iran, the crown prince softened his tone from previous statements, saying that Saudi Arabia was working to solve its differences with the Islamic Republic.“In the end, Iran is a neighboring country,” he said, adding that the kingdom wanted Iran to prosper but took issue with its nuclear program and support for regional militias.“We’re working today with our partners in the region to find solutions to these issues and we hope to overcome them and have a good and positive relationship with them,” he said.Throughout the 90-minute interview, Prince Mohammed also said:Some of the government’s shares in Aramco could be transferred to the sovereign wealth fund, known as the PIFThe decision to raise the value-added tax to 15% last year “will be temporary from one to five years maximum, with VAT target at 5% to 10%”The kingdom has no plans to introduce an income taxFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
-Advanced Micro Devices Inc raised its annual revenue forecast on Tuesday, betting on strong demand for its chips used in data centers and personal computers as its chief executive said she was confident the company could source the chips despite a global supply shortage.
— Bank of Canada Governor Tiff Macklem said he remains committed to the central bank’s 2% inflation target, even as price pressures are expected to temporarily overshoot that goal.Macklem, in parliamentary testimony on Tuesday, cited the central bank’s long history of hitting that objective, and said he needs to worry about both upside and downside risks to its inflation outlook.The comments come after the Bank of Canada released new forecasts on April 21 that show the biggest persistent overshoot of its 2% target in at least two decades.“What can we do to assure Canadians that we will control inflation? We have a very clear mandate — we have a strong record now of 30 years of inflation targeting and we have consistently realized that objective,” Macklem told the House of Commons finance committee.At the same time, a full recovery will take time time to complete, and that will keep downward pressure on price gains, he said.Last week, Macklem justified his tolerance for above-target inflation by citing the central bank’s decision not to preemptively raise rates until the economy’s recovery from Covid-19 is complete.
Firms in Japan, which was an early leader in Bitcoin acceptance, have been slow to join this trend.Nexon said it intended to guard itself against a potential drop in the value of non-digital currencies in case of inflation, with Mahoney seeing Bitcoin as a “form of cash likely to retain its value, even if it is not yet widely-recognized as such.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.