Today: September 22, 2024
Today: September 22, 2024

Finance

Business|Economy|Finance|Technology

Tesla stock tumbles after its profit plunged

Tesla stock tumbles after its profit plunged

July 23, 2024
Tesla stock tumbles after its profit plunged
Business|Economy|Finance

Visa's fiscal third-quarter profits rise 9% as payments become increasingly digital

Payment processing giant Visa Inc. said its fiscal third-quarter profits rose 9% on an adjusted basis as it benefits from consumers and businesses moving their payments from cash to credit and debit cards

July 23, 2024
Visa's fiscal third-quarter profits rise 9% as payments become increasingly digital
Business|Economy|Finance

Capital One profit drops 61% as it stockpiles more money for loan losses

Capital One Financial's profit fell 61% in the second quarter, it reported on Tuesday, as it set aside more money to cover losses on loans. 

July 23, 2024
Capital One profit drops 61% as it stockpiles more money for loan losses
Business|Finance|Stock Markets|Technology

TI beats quarterly profit estimates as chip demand turns steady

Texas Instruments beat analysts' estimates for second-quarter profit on Tuesday, powered by stabilizing demand for analog chips from markets such as personal electronics

July 23, 2024
TI beats quarterly profit estimates as chip demand turns steady
Business|Economy|Finance

Visa reports rare quarterly revenue miss, shares drop

Visa's third-quarter revenue growth fell short of Wall Street targets in a rare miss for the world's largest payments processor as steep borrowing costs limited

July 23, 2024
Visa reports rare quarterly revenue miss, shares drop
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.

July 23, 2024
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.

July 23, 2024
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.

July 23, 2024
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

July 23, 2024
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

July 23, 2024
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

July 23, 2024
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.

July 23, 2024
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

July 23, 2024
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

July 23, 2024
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

July 23, 2024
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

July 23, 2024
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

July 23, 2024
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

July 23, 2024
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

July 23, 2024
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

July 23, 2024
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.

July 23, 2024
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

July 23, 2024
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

July 23, 2024
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.

July 23, 2024
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

July 23, 2024
Fed to cut rates twice this year, with first move in September, economists say: Reuters poll

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