Shares of the California-based company were at $71.10 after closing at $63.12 on Monday. The video-conferencing company was a stock market darling during the pandemic when most businesses adopted virtual setups almost overnight but has struggled to build on since. The company's shares are down 12.2% year to date compared to the 6.3% rise in benchmark S&P 500, and the "clearly washed-out levels" are proving some support to the stock, analysts at J.P. Morgan said.
Prosecutors in Thailand announced Tuesday they will indict a former national police chief on charges of impeding legal action against an heir to the Red Bull energy drink fortune who was accused of killing a Bangkok police officer in a 2012 hit-and-run. Several government officials and police officers have been accused of a conspiracy to help Vorayuth “Boss” Yoovidhya escape justice by fleeing abroad in a case widely held up as an example of how the rich and well-connected enjoy impunity in Thailand. Vorayuth is the grandson of Chaleo Yoovidhya, one of the creators of the globally famous Red Bull brand.
South Africa's delay in taking coal-fired power stations offline will only harm its commitment to net-zero emissions by 2050 if the plants continue to burn well into the 2030s, the head of its donor-funded green energy plan said on Tuesday. Officials admitted privately in November that South Africa will miss its binding 2030 carbon emissions targets under the Paris climate agreement, as Africa's most industrialised country will run eight coal-fired power plants for longer than planned. South Africa is the 15th biggest emitter in the world, according to the Global Carbon Atlas, a significant drop from previous years.
European stock indexes struggled for direction on Tuesday and Wall Street futures saw small gains, as the equity rally slowed and investors weighed up the outlook for central bank rate cuts, ahead of key inflation data later in the week. Global equity markets have surged so far this year, helped by investor enthusiasm around artificial intelligence (AI) and expectations that major central banks will cut interest rates. While stocks have rallied in recent months, bond markets have seen yields rise, as investors push back their expectations for rate cuts.
Euro zone bond yields were steady on Tuesday after rising at the start of the week as investors looked towards key inflation data due on Thursday and Friday. Germany's 10-year bond yield was last unchanged on the day at 2.431%, after rising 7 bps on Monday. Data on Tuesday showed that lending in the euro zone remained subdued in January, although the figures did not appear to influence bond yields.
A member of the paparazzi has accused Taylor Swift’s father, Scott Swift, of striking him in the face on a Sydney wharf in the early morning hours of Tuesday local time. According to media reports, the alleged confrontation took place after Taylor Swift and her dad disembarked from a yacht, and following the megastar’s final …
Baron Funds, an investment management company, released its “Baron Small Cap Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. Baron Small Cap Fund had a strong fourth quarter and a full year in 2023, both on absolute and relative bases. The fund was up 12.64% (Institutional Shares) in the fourth […]
WARSAW, Poland (AP) — Thousands of farmers marched in downtown Warsaw on Tuesday to protest the European Union's agricultural policies and the imports of cheap food from Ukraine. The protesters say they are demanding that the Polish government withdraw from the EU's Green Deal, a plan meant to help the environment and fight climate change with measures that include reductions in pesticide use. Farmers across the continent say the plans are too costly. The protesting Polish farmers also want Pola