US stocks rallied late on Tuesday to close higher for a second straight day. Target Corp’s warning about excess inventory weighed on retail stocks for much of the session. Apple shares climbed despite news that the company must change the connector on iPhones sold in Europe by 2024. U.S. stocks mobilized late on Tuesday to … Read more
Target (TGT.N), a major retail chain, cut its quarterly profit margin forecast and said it would mark down prices in the second quarter in a surprise revision that sent shares of the retailer 2.31% lower. Treasury yields fell after a surprise rate hike in Australia. The world offers bounced back on Tuesday on the thought … Read more
Jane Street Global Trading has sued the London Metal Exchange for $15.3 million. The LME suspended activity and cancelled nickel trades on March 8 due to volatility. Volatility saw prices double to more than $100,000 a tonne within hours of suspension. U.S.- based Jane Street Global Trading has sued the London Metal Exchange LME for … Read more
10-year Treasury yield hit 3.0580% early in the Asia session. The dollar added another 0.6% against the yen to touch 132.75. Ten-year gilt yields rose as far as 10.2 bps to a seven-year high of 2.256%. Asia’s bonds edged lower on Tuesday, the yen hit a 20-year low and security markets faltered as financial backers … Read more
Japan’s household spending fell faster than expected in April. The yen’s sharp decline and surging commodity prices pushed up retail costs. Real wages shrank at the fastest pace in four months in April as prices posted their biggest jump in more than seven years, weighing on household purchasing power. Japan’s family spending fell surprisingly quick … Read more
Brent crude futures were up 19 cents, or 0.2%, at $119.70 a barrel at 0050 GMT. The benchmark hit a three-month high of $120.99 on Monday. Higher output target by OPEC+ producers would ease tight supply. Oil costs crawled higher on Tuesday on expected request recuperation in China as it loosened up extreme COVID controls … Read more
Spirit Airlines shareholders are due to vote this week on a merger agreement with Frontier Group Holdings Inc (ULCC.O). JetBlue increased its reverse break-up fee by $150 million to $350 million, payable to Spirit shareholders in case the deal falls through due to antitrust reasons. JetBlue Airways Corp (JBLU.O) on Monday worked on its proposal … Read more
The dollar index has eased back to around the 102 level. Friday’s strong payrolls report helped the dollar notch its first weekly gain in three. U.S. stocks are well off their earlier highs to increase the appeal of the safe-haven ahead of a key reading on inflation. The dollar acquired against a bushel of significant … Read more
Tunisian President orders judges’ salaries cut to take account of strike days after they began a week-long work stoppage. Courtrooms were closed across the country on Monday. Saied last week dismissed 57 judges, accusing them of corruption and protecting terrorists. Tunisia’s political emergency extended on Monday as President Kais Saied requested judges’ pay rates slice … Read more
Shares in Asia and Europe rose on Monday, but risk appetite ebbed after being higher earlier in the day. The dollar gained against the euro ahead of the European Central Bank’s policy meeting. Sterling rose ahead of a confidence vote in Parliament that Prime Minister Boris Johnson won. Worldwide stocks markets rose on Monday on … Read more
Apple announced it would more deeply integrate its software into the core driving systems of cars. The iPhone maker rolled out a slew of features for payments and business collaboration. Apple showed off a new car dashboard that it said would be able to display data from instruments such as speed, fuel levels, and gas … Read more
Elon Musk warned Twitter Inc (TWTR.N) on Monday that he might walk away from his $44 billion deal to acquire the social media company if it fails to provide the data on spam and fake accounts that he seeks. The warning was delivered in a letter from Musk’s lawyers to Twitter’s chief legal officer, Vijaya … Read more
Hedge funds AQR and Citadel posted rises in their flagship portfolios last month. The gains outpaced the broader stock market’s double-digit losses. May’s small increase follows a more robust 7.45% gain in April when the S&P tumbled nearly 9%. Mutual funds AQR and Citadel posted ascents in their leader portfolios last month that dominated the … Read more
President Joe Biden waived tariffs on solar panels from four Southeast Asian nations for two years. The exemption applies to panels from Cambodia, Malaysia, Thailand and Vietnam. It will serve as a “bridge” while U.S. manufacturing ramps up, the White House says. President Joe Biden deferred levies on sunlight based chargers from four Southeast Asian … Read more
Shares of Amazon.com were up more than 2%, giving the S&P 500 and Nasdaq their biggest boosts in the stock’s first day of trading. A solid jobs report on Friday lowered hopes of a pause in the Federal Reserve’s aggressive policy-tightening plan. U.S. stocks were for the most part higher on Monday, drove by gains … Read more
Amazon shares were up 3.1% to $126.17 in afternoon trading after the 20-for-1 split. The e-commerce giant’s shares have fallen 24% year-to-date, roughly comparable to the loss in the Nasdaq Composite. Amazon (AMZN.O) stock split might give comfort to investors who have seen the web-based business monster’s portions battered for this present year. Amazon shares … Read more
The U.S. has asked Mexico to probe alleged worker rights violations at an auto-parts plant. The plant is owned by Italian-French carmaker Stellantis. It is the fourth such probe under the revised trade deal aimed at improving conditions in Mexican workplaces. The United States has requested that Mexico test claimed specialist freedoms infringement at a … Read more
The dollar climbed to 130.99 yen in early trade, a fresh one-month high. It is not far from last month’s 20-year peak of 131.34 yen after gaining 2.95% last week. The euro has also climbed on the Japanese currency and hit a seven-year high. The Japanese yen was on the back foot on Monday, in … Read more
An Australian court ordered Google to pay A$715,000 ($515,000) to a former senior lawmaker. The Federal Court found that YouTube’s Jordan Shanks’ defamatory campaign drove him to quit politics prematurely. Judge: Google’s conduct in this proceeding was improper and unjustifiable. An Australian court requested Google to pay A$715,000 ($515,000) to a previous senior official on … Read more
Carl Icahn is dropping a proxy fight focused on the treatment of pregnant pigs at Kroger after losing a similar fight with McDonald’s. The billionaire investor in March nominated two directors to the supermarket chain’s board. He also wrote a letter to its boss pointing out Kroger’s inability to create policies concerning animal welfare. Tycoon … Read more
Asian shares make a muted start as caution grips ahead of the U.S. inflation report on Friday. Oil prices jump after Saudi Arabia raises prices for its crude sales in July. S&P 500 futures and Nasdaq futures edge up 0.1%, while Japan’s Nikkei eases 0.3%. Asian offers made a muffled beginning on Monday as wariness … Read more
Brent crude futures were up $1.80, or 1.5%, at $121.52 a barrel at 2319 GMT. OPEC+ agreed to accelerate output increases over the next two months. U.S. West Texas Intermediate (WTI) was also up 1.4% at $120.50 a barrel. Oil costs rose more than $2 in early exchange on Monday after Saudi Arabia raised costs … Read more
Gina Raimondo said President Joe Biden has asked his team to look at the option of lifting some tariffs on China. The tariffs were put in place by former President Donald Trump, to combat the current high inflation. Some of the tariffs will be kept on steel and aluminum to protect U.S. workers. U.S. Trade … Read more
Non-oil private sector activity in Egypt contracted for an 18th month in May. Ukraine crisis, import restrictions, and a devalued currency put pressure on prices. S&P Global Egypt Purchasing Managers’ Index rose to 47.0 from 46.9 in April. Non-oil private area movement in Egypt contracted for an eighteenth month in May as the Ukraine emergency, … Read more
Industrie De Nora aims to complete the share offering in June. It would be the first major IPO in Milan since Russia invaded Ukraine on Feb 24. The group reported revenues of 616 million euros ($660.23 million) with a core profit of 127 million euros in 2021. Italy’s Industrie De Nora, which makes parts to … Read more
Alliances and partnerships remain important for the Benettons, says Alessandro Benetton. He was answering a question about the family’s relationship with Florentino Perez. Perez was involved in an attempt to take over infrastructure group Atlantia (ATL.MI). Coalitions and organizations stay significant for the improvement of organizations constrained by the Benettons, the director of the family’s … Read more
Small business owners are among the Americans most likely to fall behind on saving for retirement. The recent market gyrations could be a good time to consider socking away more money, experts say. Entrepreneurs are among the Americans probably going to fall behind on putting something aside for retirement in market. Putting once more into … Read more
Telecom Italia (TIM) (TLIT.MI) will pursue a plan to split its landline network from its service operations. Italy’s former phone monopoly is seeking to revamp its business via separation of its domestic fixed network assets and focusing on consumer and commercial activities. As a feature of a fundamental settlement fixed with Italian state moneylender CDP … Read more
