Finance

Manufacturing contracts for third straight month

The Institute for Supply Management (ISM) said that its Manufacturing Purchasing Managers’ Index (PMI) reached of 47.7 last month after reaching 47.4 in January, notching the third straight month of contraction.

Intel slashes dividend

The Intel Corp.’s board of directors announced the reduction of its quarterly dividend to $0.125 per share of the company’s common stock due to macroeconomic uncertainty.

Bitcoin hits six-month high

Bitcoin, a digital asset and cryptocurrency, has risen to a six-month high as investors gravitate back to more riskier assets.

Ford cutting 3,800 European jobs in EV push

Ford will cut around 3,800 jobs in product development and administration in Europe as the U.S. automaker cuts global costs to expand more in electric vehicle market.

Inflation rose 6.4% in January

The latest read on consumer prices showed a mixed bag presenting more challenges for Federal Reserve Chair Jerome Powell as the central bank looks to combat high inflation.