Reuters | March 10, 2023
By Victoria Waldersee BERLIN (Reuters) -Daimler Truck said an improving Chinese market, easing chip shortages and a stabilising supply chain would lift its profit this year, adding it will continue to pass on rising costs to customers by increasing prices. But in Europe, the coach market had yet to fully recover from the pandemic’s effect […]
Reuters | March 9, 2023
MILAN (Reuters) -Italy’s Prada said on Thursday it expects revenue growth to outpace rivals this year, after sales exceeded analyst expectations in 2022 thanks to a strong performance in Europe. The luxury group’s adjusted operating profit stood at 20.1% of its sales last year, achieving its medium term target of 20% of total sales the […]
Reuters | March 8, 2023
By Sinéad Carew and Sruthi Shankar (Reuters) – U.S. stock indexes closed sharply lower on Tuesday after Federal Reserve Chair Jerome Powell told Congress the central bank will likely need to raise interest rates more than previously expected as it seeks to rein in stubbornly high inflation. Of Wall Street’s three major indexes, the Dow […]
Reuters | March 6, 2023
By Jonathan Stempel NEW YORK (Reuters) -Sam Bankman-Fried should be allowed while on bail to have a flip phone with no internet capability and a basic laptop with limited functions, but be forbidden from using other electronic communication devices, the U.S. Department of Justice said. The proposal to limit the indicted FTX cryptocurrency exchange founder’s […]
Reuters | March 3, 2023
By Ilona Wissenbach and Joanna Plucinska (Reuters) – Germany’s Lufthansa on Friday delivered an “unprecedented” turnaround as it swung to a 1.51 billion euro profit in 2022 and expects a significant improvement in earnings this year, pushing its shares up to a three-year high as air travel rebounds. Passenger numbers more than doubled and net […]
Reuters | March 1, 2023
By Manya Saini (Reuters) – U.S. payment giants Visa and Mastercard are slamming the brakes on plans to forge new partnerships with crypto firms after a string of high-profile collapses shook faith in the industry, people familiar with the matter told Reuters. The crypto industry saw a stunning reversal of fortunes in 2022 as bankruptcies […]
Reuters | February 27, 2023
By Shreyashi Sanyal (Reuters) – Global equity investors are finding financials-heavy European markets more alluring than their U.S. counterparts packed with expensive technology stocks in their rush for better returns amid growing signs of interest rates staying higher for longer. Banks accounted for nearly 16% of the STOXX 600 index and have benefited from the high-rate […]
Reuters | February 24, 2023
NEW YORK (Reuters) – U.S. consumer spending rebounded sharply in January amid strong income growth, while inflation accelerated, which could add to financial markets fears that the Federal Reserve could continue raising interest rates through summer. The personal consumption expenditures (PCE) price index, tracked by the Federal Reserve for monetary policy, shot up 0.6% last […]
Reuters | February 23, 2023
By Joice Alves LONDON (Reuters) – Europe’s banks, which enjoyed a stellar fourth-quarter that yielded a surge in earnings growth to 15-year highs, are still looking cheap and could have more room to rally. Economic data hasn’t been as bad as many had feared. The euro zone is expected to stagnate rather than contract, while […]
Reuters | February 21, 2023
By Chibuike Oguh NEW YORK (Reuters) -Global equity markets fell while U.S. Treasury yields hit new highs on Tuesday as investors weighed the prospects of a longer-than-anticipated stiff monetary policy stance by the Federal Reserve following continued strong economic data. Market sentiment has remained bearish after Fed officials signaled last week that the U.S. central […]
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