Today: September 20, 2024
Today: September 20, 2024

Finance

Business|Finance

US banks extend fall as investors assess executives' sobering forecasts

U.S. bank stocks fell on Wednesday, extending declines after top executives warned of a slower-than-anticipated recovery in investment banking and an expected hit to

US banks extend fall as investors assess executives' sobering forecasts
Business|Finance|Stock Markets

Shortsellers bet against airlines and banks, Hazeltree report says

Shortsellers had their sights on airlines in August, as pessimism towards a sector plagued by earnings declines and price rises grows, a

Shortsellers bet against airlines and banks, Hazeltree report says
Business|Europe|Finance

UniCredit CEO approaches Commerzbank to explore merger talks, source says

UniCredit CEO Andrea Orcel approached German lender Commerzbank's management earlier on Wednesday inviting the bank to explore merger talks, a source with knowledge of the matter

UniCredit CEO approaches Commerzbank to explore merger talks, source says
Business|Finance|Stock Markets

Meme stock GameStop slumps as revenue drop fans turnaround doubts

Shares of GameStop, a widely watched meme stock, tumbled 10% in premarket trading on Wednesday after the video game retailer reported a bigger drop in quarterly revenue, questioning its

Meme stock GameStop slumps as revenue drop fans turnaround doubts
Business|Economy|Finance

Trump’s tax cuts led to a $20B reduction in charitable giving within a year

The charitable deduction vanished for the 30 million taxpayers who stopped itemizing in 2018, the year the tax changes took effect.

Trump’s tax cuts led to a $20B reduction in charitable giving within a year
Economy|Finance

US inflation trending lower, but some stickiness remains

U.S. consumer prices rose slightly in August, but underlying inflation showed some stickiness amid higher costs for housing and other services, further dashing

US inflation trending lower, but some stickiness remains
Business|Finance

Dollarama beats quarterly profit view on lower costs, stable demand

Dollarama beat second-quarter profit estimates on Wednesday, helped by lower costs and stable demand for low-priced essentials like groceries.

Dollarama beats quarterly profit view on lower costs, stable demand
Business|Finance|Sports

Manchester Utd vows to improve on and off pitch after fifth year of losses

Manchester United's new chief said on Wednesday the club was working towards improving performance on and off the pitch after a fifth consecutive

Manchester Utd vows to improve on and off pitch after fifth year of losses
Business|Finance

China to issue broad measures to improve insurance sector, prevent risks

China's state council on Wednesday said it will issue concrete guidelines to strengthen supervision and prevent risks in the country's insurance industry, according to a statement.

China to issue broad measures to improve insurance sector, prevent risks
Election|Finance|Stock Markets

Trump Media slumps as bets on Harris victory rise after presidential debate

Shares of Republican candidate Donald Trump's company that owns the Truth Social slumped 14% in busy trading on Wednesday as betting odds of a win for Democratic candidate

Trump Media slumps as bets on Harris victory rise after presidential debate
Business|Europe|Finance

UBS vows to uphold loan volumes in Switzerland of more than $400 billion

UBS will continue to provide around 350 billion Swiss francs ($414 billion) of loans to its home market, a senior executive at the Swiss bank said on Wednesday, countering

UBS vows to uphold loan volumes in Switzerland of more than $400 billion
Business|Finance

Key witness in trial of FTX founder Sam Bankman-Fried seeks no prison time at upcoming sentencing

Caroline Ellison, a former top executive in FTX founder Sam Bankman-Fried's collapsed cryptocurrency empire, is seeking no prison time at her sentencing later this month

Key witness in trial of FTX founder Sam Bankman-Fried seeks no prison time at upcoming sentencing
Business|Finance|Technology

Amazon to invest $10 billion in UK data centres

Internet giant Amazon's cloud computing arm, Amazon Web Services, said on Wednesday that it plans to spend 8 billion pounds ($10.45 billion) in the United Kingdom

Amazon to invest $10 billion in UK data centres
Americas|Economy|Election|Finance|Stock Markets

Crypto stocks fall as bets on Harris win rise after debate, Swift support

U.S. cryptocurrency shares fell in early trading on Wednesday after Democratic candidate Kamala Harris put her Republican rival and crypto supporter Donald Trump on the

Crypto stocks fall as bets on Harris win rise after debate, Swift support
Business|Finance

Details of new US bank capital rules still uncertain with election looming

U.S. bank investors, analysts and executives were trying to figure out on Wednesday how lenders would fare under revised hikes in capital requirements, with

Details of new US bank capital rules still uncertain with election looming
Election|Finance|Stock Markets

Wall Street closes up on tech boost; inflation data dents hopes for big Fed rate cut

All three major U.S. stock indexes closed higher on Wednesday with a boost from the technology sector offsetting investor disappointment at an early

Wall Street closes up on tech boost; inflation data dents hopes for big Fed rate cut
Business|Finance

Etihad Airways plans IPO no earlier than 2025, sources say

Abu Dhabi's Etihad Airways plans to make its stock market debut no sooner than 2025, two people familiar with the

Etihad Airways plans IPO no earlier than 2025, sources say
Asia|Business|Finance

Goldman Sachs appoints three co-heads of Asia M&A to bolster regional presence

Goldman Sachs has appointed Raghav Maliah, Yoshihiko Yano and Ed Wittig as co-heads of mergers and acquisitions in Asia Pacific to expand and deepen deals coverage in

Goldman Sachs appoints three co-heads of Asia M&A to bolster regional presence
Business|Economy|Finance

Indian importers favour FX options as rupee holds steady, premiums soar

Indian importers are exploring options strategies to hedge against currency risks amid muted volatility in the rupee, moving away from outright

Indian importers favour FX options as rupee holds steady, premiums soar
Economy|Finance|News|World

IMF, Ukraine reach deal that would give it access to $1.1 billion

The International Monetary Fund said on Tuesday it had reached a preliminary agreement with Ukraine that would give the war-torn country access to about $1.1 billion in financial

IMF, Ukraine reach deal that would give it access to $1.1 billion
Asia|Business|Finance

China's Midea Group to price shares at top of range in Hong Kong listing, sources say

Chinese home appliance maker Midea Group is set to price shares at the top of an indicative range to raise at least $3.46 billion in a Hong Kong listing, said three

China's Midea Group to price shares at top of range in Hong Kong listing, sources say
Economy|Finance|News|Stock Markets

FTSE 100 drops on Rentokil warning; U.S. inflation data weighs

The UK's benchmark FTSE 100 stock index ended lower on Wednesday, led by a decline in Rentokil shares after the pest control company warned on North

FTSE 100 drops on Rentokil warning; U.S. inflation data weighs
Business|Europe|Finance

Europe's STOXX 600 little changed as focus shifts to ECB

European shares ended flat on Wednesday as gains in technology shares were offset by losses in real estate shares, while investors shifted their focus to

Europe's STOXX 600 little changed as focus shifts to ECB
Business|Economy|Finance

US fund Castlelake considering sale of stake in Spain's Aedas, Cinco Dias reports

U.S.-based investment fund Castlelake is considering selling its majority stake in Spanish real estate group Aedas Homes, Spanish newspaper Cinco Dias reported on Wednesday, citing

US fund Castlelake considering sale of stake in Spain's Aedas, Cinco Dias reports
Economy|Finance|News

US inflation reaches a 3-year low as Federal Reserve prepares to cut interest rates

The post-pandemic spike in U.S. inflation eased further last month as year-over-year price increases reached a three-year low, clearing the way for the Federal Reserve to cut interest rates and likely shaping the economic debate in the final weeks of the presidential race

US inflation reaches a 3-year low as Federal Reserve prepares to cut interest rates

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