Today: September 24, 2024
Today: September 24, 2024

Finance

Business|Economy|Finance

Toymaker Mattel beats quarterly profit estimates on cost controls

Mattel topped Wall Street estimates for second-quarter profit on Tuesday, aided by the toymaker's tight control on costs while posting a surprise drop in sales.

Toymaker Mattel beats quarterly profit estimates on cost controls
Business|Economy|Finance

US business equipment borrowings fall 4% in June, ELFA says

U.S. companies borrowed 4% less to finance equipment investments in June than a year ago, industry body Equipment Leasing and Finance Association (ELFA) said on Tuesday.

US business equipment borrowings fall 4% in June, ELFA says
Business|Entertainment|Finance

Disney's shareholder Perlmutter sells his stake after proxy fight loss, WSJ reports

Isaac Perlmutter, one of the largest investors in Walt Disney, has sold his entire stake in the media company after losing the proxy fight, the Wall Street Journal reported on Tuesday.

Disney's shareholder Perlmutter sells his stake after proxy fight loss, WSJ reports
Economy|Election|Finance|Stock Markets

As investors eye US presidential race, JPMorgan exec says focus should be on policies

U.S. equity markets will remain volatile ahead of the country's November presidential election, but the policies of the two candidates should take

As investors eye US presidential race, JPMorgan exec says focus should be on policies
Business|Economy|Finance

Red Lobster moves closer to bankruptcy sale to lenders

Red Lobster is moving closer to a bankruptcy sale that would put lenders, including Fortress Investment Group, in charge of the company after no other bidders

Red Lobster moves closer to bankruptcy sale to lenders
Business|Finance|Technology

BofA appoints insider Brunner as head of TMT investment banking, memo shows

Bank of America has appointed bank veteran Kevin Brunner as the new head of technology, media and telecommunications investment banking, according to a memo seen by Reuters and confirmed

BofA appoints insider Brunner as head of TMT investment banking, memo shows
Business|Finance|Stock Markets

Tesla shares could swing 10% either way after earnings, options show

Traders in the options market expect Tesla shares to swing by nearly 10% in either direction by Friday, options data showed.

Tesla shares could swing 10% either way after earnings, options show
Finance|Stock Markets

Small-caps rally ignites options frenzy, but strategists urge caution

U.S. small-cap stocks' long-awaited rally has ignited record trading in options contracts that would benefit from their persistent strength, though some

Small-caps rally ignites options frenzy, but strategists urge caution
Economy|Finance

US spot ether ETFs make market debut in another win for crypto industry

U.S. exchange-traded funds (ETFs) tied to the price of

US spot ether ETFs make market debut in another win for crypto industry
Business|Finance

Industrial equipment maker IDEX to buy Mott Corp for $1 billion

Industrial equipment maker IDEX Corp said on Tuesday it would buy filtration products maker Mott Corp for $1 billion in cash as it looks to bolster its presence in the medical technologies

Industrial equipment maker IDEX to buy Mott Corp for $1 billion
Business|Finance|Technology

Visa prevented $40 billion worth of fraudulent transactions in 2023- official

Visa prevented 80 million fraudulent transactions worth $40 billion globally last year thanks to investments in technology including artificial intelligence (AI), a senior

Visa prevented $40 billion worth of fraudulent transactions in 2023- official
Economy|Finance

Ghana revises 2024 growth forecast higher as economy rebounds

Ghana's finance minister raised the country's 2024 growth forecast on Tuesday and said the West African nation was rebounding faster

Ghana revises 2024 growth forecast higher as economy rebounds
Business|Economy|Finance|Health|News

US drug industry middlemen defend business model amid accusations of raising patient costs

U.S. pharmaceutical industry middlemen defended their role in the healthcare system during a Congressional hearing on Tuesday after committee members

US drug industry middlemen defend business model amid accusations of raising patient costs
Business|Economy|Europe|Finance

Italy seizes $131 million from Amazon over alleged tax, labour offences

Italy's tax police have seized some 121 million euros ($131 million) from an Italian unit of e-commerce giant Amazon as part of an investigation into alleged tax fraud and illegal

Italy seizes $131 million from Amazon over alleged tax, labour offences
Business|Economy|Finance|Technology

Neuralink's value jump leaves some Musk employees itching to cash out

Some of the staff at Elon Musk's Neuralink are making preparations to sell the brain implant company's stock in the wake of its valuation jumping following its first human

Neuralink's value jump leaves some Musk employees itching to cash out
Business|Economy|Finance

PACCAR's second-quarter profit falls on higher capital spend

U.S. truckmaker PACCAR Inc reported a fall in its second-quarter profit on Tuesday, marginally missing estimates, hurt by inflationary pressures and high capital spending.

PACCAR's second-quarter profit falls on higher capital spend
Economy|Finance

G20 draft communique sees growing chance of global economic 'soft landing'

Group of 20 finance leaders are expected to cheer the growing likelihood of a global economic "soft landing" while warning of the risks from

G20 draft communique sees growing chance of global economic 'soft landing'
Economy|Finance

Nigeria central bank hikes rate further as inflation bites

Nigeria's central bank on Tuesday raised its benchmark interest rate for the fourth time this year, as inflation surged to a 28-year high

Nigeria central bank hikes rate further as inflation bites
Economy|Finance|Stock Markets|Technology

Barclays raises 2024 S&P 500 target to 5,600 from 5,300

Barclays on Tuesday lifted its 2024 target for the benchmark S&P 500 index to 5,600 from 5,300 as it expects strong profit growth for mega-cap technology firms.

Barclays raises 2024 S&P 500 target to 5,600 from 5,300
Economy|Finance

Fed to cut rates twice this year, with first move in September, economists say: Reuters poll

The Federal Reserve will cut interest rates just twice this year, in September and December, as resilient U.S. consumer demand warrants a cautious approach

Fed to cut rates twice this year, with first move in September, economists say: Reuters poll
Business|Finance

Philip Morris raises profit forecast as nicotine pouch demand grows

Philip Morris International raised its annual profit forecast on Tuesday, banking on higher cigarette prices and its growing nicotine pouch brand ZYN while trimming the outlook for its

Philip Morris raises profit forecast as nicotine pouch demand grows
Business|Economy|Finance

PulteGroup's quarterly profit beats estimates on higher home sales

U.S. homebuilder PulteGroup beat Wall Street estimates for second-quarter profit on Tuesday, as an acute shortage of existing houses drove up demand for new constructions.

PulteGroup's quarterly profit beats estimates on higher home sales
Business|Economy|Finance

Sherwin-Williams raises 2024 profit forecast on upcoming residential demand

Sherwin-Williams on Tuesday raised its full-year earnings forecast and posted a second-quarter profit that beat estimates, as the paintmaker was helped by higher prices and increased sales

Sherwin-Williams raises 2024 profit forecast on upcoming residential demand
Business|Economy|Finance

Moody's raises 2024 profit forecast above estimates on robust demand for analytics

Ratings agency Moody's Corp raised its forecast for full-year adjusted profit above Wall Street estimates, driven by strong demand for its research and analytics products.

Moody's raises 2024 profit forecast above estimates on robust demand for analytics
Asia|Economy|Finance

India's Finance Minister backs increasing Chinese direct investment

India's Finance Minister has backed her economic adviser's suggestion to allow more Chinese investment in the country, after flows were

India's Finance Minister backs increasing Chinese direct investment

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