US: Chip stocks bolster Nasdaq, S&P 500 before Fed verdict

US: Chip stocks bolster Nasdaq, S&P 500 before Fed verdict

The Nasdaq and the S&P 500 opened sharply higher on Wednesday (Jul 31) after a bullish forecast from AMD boosted struggling chip stocks, while Microsoft faltered among megacaps ahead of an interest-rate decision from the Federal Reserve. The Dow Jones Industrial Average rose 25.5 points, or 0.06 per cent, at the open to 40,768.88. The…

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Mastercard’s quarterly profit jumps on buoyant spending

Mastercard’s quarterly profit jumps on buoyant spending

MASTERCARD’S second-quarter profit rose as customers kept up spending heavily via its cards, the payments giant reported on Wednesday (Jul 31). Profit was US$3.3 billion, or US$3.50 per share for the three months ended Jun 30, compared with US$2.8 billion, or US$3 per share last year. A tight labour market has ensured job security for…

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FUSS and MACLEOD: Taxes remain largest expense for Canadian families

FUSS and MACLEOD: Taxes remain largest expense for Canadian families

Breadcrumb Trail Links News Alberta Canada Opinion Columnists Despite the government’s slogan of “fairness for every generation,” future generations will pay for today’s debt through tax increases, essentially shifting the burden of current budget deficits onto our children. Published Jul 31, 2024  •  Last updated 48 minutes ago  •  2 minute read You can save this…

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Singapore Airlines Q1 net profit down 38.5% to S$451.7 million

Singapore Airlines Q1 net profit down 38.5% to S1.7 million

SINGAPORE Airlines (SIA) reported a net profit of S$451.7 million in the first quarter, a 38.5 per cent drop from S$734 million in the year-ago period. Weaker operating performance, a reduction in net interest income, lower surplus on disposal of aircrafts and spare engines, and a lower share of profit from its associated companies contributed…

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ASML, Tokyo Electron gain on report US allies exempt from curbs

ASML, Tokyo Electron gain on report US allies exempt from curbs

TOKYO Electron and ASML Holding led a worldwide rally in semiconductor stocks after Reuters reported the Biden administration planned to exempt chip-equipment makers in Japan, the Netherlands and South Korea from upcoming export restrictions. ASML shares jumped 11 per cent, the biggest intraday gain since March 2020, on the news. In Japan, Tokyo Electron’s stock…

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Mizuho profit rises unexpectedly on higher lending income

Mizuho profit rises unexpectedly on higher lending income

MIZUHO Financial Group reported a better-than expected increase in its quarterly profit driven by strong performance in its lending and trading businesses. Net income at Japan’s third-largest bank rose 18 per cent to 289.3 billion yen (S$2.5 billion) for its fiscal first quarter ended in June, accounting for almost 40 per cent of its annual…

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