Africa has begun to move its economic attention away from the west to the Middle East and Asia as a primary source of capital raising. This shift in alignment partially explains the forthcoming launch of a number of Sukuk across the continent in 2012.
- Economic Report: U.S. economy was the worst performing of G-7 countries in the second quarter as U.K. also reports downturnThe U.S. was the worst-performing of the major Group of Seven economies in the second quarter, the latest data show.
- : How companies take advantage of our very human desire to feel superior to others, according to a new studyHumans seek superiority, which has implications for the way markets work, a new paper distributed by the National Bureau of Economic Research says.
- The Wall Street Journal: Samsung scion Lee Jae-yong to receive pardon from South Korea’s presidentSamsung’s de facto leader, Lee Jae-yong, will receive a pardon on Monday, South Korea’s presidential office said, a legal reprieve underpinned by expectations that the business tycoon will help propel the nation’s economy.
- : Unsealing the Mar-a-Lago search warrant: What Americans could seeAttorney General Merrick Garland on Thursday said the Justice Department is seeking to unseal two documents related to the raid on former President Donald Trump's Florida resort. So, what would Americans see?
- : FBI searched Trump’s home for classified material about nuclear weapons: reportFBI agents searched for classified material about nuclear weapons, among other items, when they served a warrant on former President Donald Trump's home in Florida earlier this week, the Washington Post reported Thursday night.
- Earnings Results: Illumina stock tanks as gene-sequencing company misses expectations and issues bleak outlookIllumina Inc. shares sank 17% after hours Thursday after the gene-sequencing company swung to a loss in the second quarter, fell short of revenue expectations and revised its full-year outlook downward.
- Earnings Results: Rivian loses nearly $2 billion in second quarter as expenses mountRivian Automotive Inc. late Thursday reported a narrower-than-expected quarterly loss, but called for steeper losses for the year, warned about ongoing supply-chain snags, and saw rising expenses, sending the stock lower in the extended session.
- Earnings Results: Toast boosts earnings outlook, restaurant-tech stock shoots higherToast Inc.'s stock climbed more than 10% in after-hours trading Thursday, after the maker of payment solutions and other technologies for restaurants raised its forecast for the full year.
- Dow Jones Newswires: SoftBank shares surge on plan to preserve cash by cutting Alibaba stakeSoftBank Group Corp. shares rose sharply Friday following news that it will reduce its stake in Alibaba Group Holding Ltd., a move that preserves cash at the Japanese tech-investment company.
- The Wall Street Journal: Meditation and wellness app Calm lays off 20% of its staffIn the memo, CEO David Ko wrote that Calm leadership had “revisited the investment thesis behind every project” before deciding to make changes that would help stabilize the business.