1. Global Markets Move Flat as Vaccinations Pick-up Speed

US Markets opened flat keeping aside inflation fears. Dow Jones Industrial Average celebrates its 125th birthday. Amazon has agreed to buy James-Bond and Tom&Jerry franchise owner MGM for $8.5 Billion(~Rs 62,000 crores) as streaming wars heat up.

Dow Jones is up 0.08%

NASDAQ is up 0.46%

Stoxx Europe is at 0%

2. GameStop Short Squeeze Round-II Gains Momentum

Shares of GameStop jumped another 14% in early trade on Wednesday as the short squeeze continues. The stock along with other names like Blackberry and AMC were all over headlines in January for a raging controversy of malpractices by Hedge Funds. You can read more about the GameStop situation here.

3. US Nearing The Vaccination Goal

President Joe Biden previously said that 70% of all adults will receive at least one dose of the vaccine by July 4th and they will reach the target soon. The White House on Tuesday confirmed that it has vaccinated nearly 50% of all adults in the country. Pfizer-BioNTech, Moderna and Johnson & Johnson are the vaccines currently used by the US.

4. China Blocks Taiwan’s Deal With BioNTech

China has been claiming Taiwan as its own territory and cutting down the country’s international relations for so long. On Wednesday, Taiwan said that China blocked Taiwan’s deal with BioNTech for Covid vaccines and is forcing the country to buy shots from Chinese companies.

5. Amazon To Launch Three Data Centres In UAE

Amazon.com Inc on Wednesday announced its plans to launch three data centres in the first half of 2022 in the UAE. The Abu Dhabi Investment Office (ADIO) said the deal was part of its efforts to attract investments that build technology capabilities and accelerate innovation.

6. Xiaomi Shines In Q1 Results.

Chinese company Xiaomi Corp reported their Q1 profit at Rs 6944 crores versus the market estimate of Rs 4519 crores. The revenue of the company rose 54% to Rs 87524 crores from Rs 56581 crores a year ago.

7. Ford Raises Spending Limit On EVs

 American automaker Ford detailed their ‘FORD+’ plan which aims to have 40% of its global volume be all electric by 2030. They expect to spend more than Rs 2,18,294 crores on electrification, including battery development, by 2030, up from its earlier target of Rs 1,60,082 crores.

8. Bitcoin Reaches Back to $40,000 as Cryptos Rebound

Bitcoin touched the $40,000 mark after almost a week of trade, as crypto currencies rebound from a worldwide sell-off. Bitcoin is still far from the all-time highs of $64,000. Caroline Bowler of BTC Markets told Bloomberg that such volatility will become less common as the crypto markets mature.

9.  France to Impose Extra Restrictions on U.K. Travelers

The French government is set to unveil extra restrictions for passengers coming from the U.K. to fend off the coronavirus variant first identified in India.

France will request mandatory isolation for all passengers arriving from across the Channel, government spokesman Gabriel Attal said on Wednesday after a cabinet meeting.

10. Hong Kong Luxury House Bought for $55 Million by Private Equity Firm Founder

Fred Hu, the founder of Chinese private equity firm Primavera Capital Ltd., has bought an ultra-luxury house in Hong Kong for HK$428 million ($55 million), as wealthy mainland citizens continue to support the city’s high-end property market. The five-bedroom house spanning three floors is located in Tai Tam, a prestigious area on the south side of Hong Kong. 

11. Xiaomi’s Profit Beats as Smartphone Growth Outpaces Rivals

 Xiaomi Corp.’s quarterly profit beat estimates after the world’s third-largest smartphone maker narrowed the gap with market leaders Samsung Electronics Co. and Apple Inc. in shipments.

The Beijing-based company posted an adjusted net income of 6.1 billion yuan ($949 million) in the quarter ended in March, surpassing the highest estimate of 5.3 billion yuan. Revenue jumped 55% to 76.9 billion yuan, also ahead of analyst estimates.

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