Today: November 21, 2024
Today: November 21, 2024

Finance

Economy|Finance|US

Dollar buffered by Trump policy expectations; bitcoin surges

The dollar steadied on Thursday as traders awaited clarity on U.S.

November 21, 2024
Dollar buffered by Trump policy expectations; bitcoin surges
Americas|Asia|Business|Economy|Finance

Brazil development bank gets $690 million loan from China

China Development Bank signed a deal on Wednesday to loan 5 billion yuan ($690 million) to Brazil's National Bank for Economic and Social Development BNDES,

November 20, 2024
Brazil development bank gets $690 million loan from China
Business|Finance|Technology|US

Palo Alto tops revenue and profit estimates on steady cybersecurity demand

Palo Alto Networks beat Wall Street expectations for first-quarter revenue and profit on Wednesday, owing to healthy spending for its cybersecurity services amid a rise in digital threats.

November 20, 2024
Palo Alto tops revenue and profit estimates on steady cybersecurity demand
Economy|Europe|Finance

German tax revenue rose by 8.2% in October, finance ministry says

Germany's federal and state governments' tax revenue rose 8.2% in October compared with the same month last year, the finance ministry said in its monthly report

November 20, 2024
German tax revenue rose by 8.2% in October, finance ministry says
Business|Finance|Technology

Nvidia is Wall Street's most valuable company. How it got there, by the numbers

Nvidia has once again turned out quarterly results that exceeded Wall Street’s forecasts

November 20, 2024
Nvidia is Wall Street's most valuable company. How it got there, by the numbers
Economy|Finance

New Zealand Treasury likely to cut economic and fiscal forecasts, official says

New Zealand's Treasury said on Thursday it would likely cut its economic and fiscal forecasts because of a sustained productivity slowdown in the economy.

November 20, 2024
New Zealand Treasury likely to cut economic and fiscal forecasts, official says
Economy|Finance|US

Federal Reserve's likely slowdown in rate cuts could disappoint borrowers

Just a few weeks ago, the path ahead for the Federal Reserve looked straightforward: With inflation cooling and the job market slowing, the Fed appeared on track to steadily cut interest rates

November 20, 2024
Federal Reserve's likely slowdown in rate cuts could disappoint borrowers
Business|Finance|Technology

Nvidia beats earnings expectations as investors eye demand for Blackwell AI chips

Nvidia has reported a surge in third-quarter profit and sales as demand for its specialized computer chips that power artificial intelligence systems remains robust

November 20, 2024
Nvidia beats earnings expectations as investors eye demand for Blackwell AI chips
Asia|Business|Economy|Finance

Korea Zinc takeover battle tests Seoul's resolve on tackling 'Korea discount'

A takeover battle over Korea Zinc is adding pressure on Seoul to pass legislative reforms to ensure better protections for all investors in a

November 20, 2024
Korea Zinc takeover battle tests Seoul's resolve on tackling 'Korea discount'
Business|Economy|Finance|US

Boeing gives lay off notices to nearly 700 in Missouri

SEATTLE - Boeing issued lay off notices to 692 workers in Missouri, home to the company's Defense, Space & Security division, according to a federally-required filing posted on Wednesday, as part of

November 20, 2024
Boeing gives lay off notices to nearly 700 in Missouri
Economy|Finance

IMF mission concludes visit to Egypt for the fourth review of loan programme

The International Monetary Fund said on Wednesday that its mission had concluded a visit to Egypt and made substantial progress on policy discussions toward the completion of the

November 20, 2024
IMF mission concludes visit to Egypt for the fourth review of loan programme
Americas|Business|Economy|Finance|US

Canada's provincial leaders want a free trade deal with the US that excludes Mexico

The leader of Canada’s most populous province says all of the country’s provincial and territorial premiers want Prime Minister Justin Trudeau's federal government to negotiate a bilateral trade deal with the United States that excludes Mexico

November 20, 2024
Canada's provincial leaders want a free trade deal with the US that excludes Mexico
Asia|Business|Economy|Finance

Nvidia beats, but fails to provide spark

A look at the day ahead in Asian markets. 

November 20, 2024
Nvidia beats, but fails to provide spark
Business|Crime|Finance|Stock Markets|US

Archegos hedge fund founder Bill Hwang gets 18 years in prison for massive fraud

The founder of Archegos Capital Management, a hedge fund, has been sentenced to 18 years in prison for his conviction in a securities and market manipulation fraud that prosecutors say cost global investment banks billions of dollars

November 20, 2024
Archegos hedge fund founder Bill Hwang gets 18 years in prison for massive fraud
Business|Finance|Stock Markets|Technology

Snowflake lifts product revenue forecast, enters AI deal with Anthropic

Data analytics provider Snowflake on Wednesday raised its annual product revenue forecast and said it has teamed up with AI firm Anthropic to build up its cloud services, sending its shares

November 20, 2024
Snowflake lifts product revenue forecast, enters AI deal with Anthropic
Business|Crime|Economy|Finance|US

US charges tycoon Gautam Adani with defrauding investors, hiding plan to bribe Indian officials

Indian businessman Gautam Adani, one of the world’s richest people, has been indicted in the U.S. on charges he duped investors in a massive solar energy project in India by concealing that it was being facilitated by an alleged bribery scheme

November 20, 2024
US charges tycoon Gautam Adani with defrauding investors, hiding plan to bribe Indian officials
Business|Crime|Economy|Finance|US

Billionaire Gautam Adani indicted in New York on bribery charges

Billionaire Gautam Adani indicted in New York on bribery charges

November 20, 2024
Billionaire Gautam Adani indicted in New York on bribery charges
Business|Crime|Finance|US

Billionaire Gautam Adani of India's Adani Group charged in US with bribery, fraud

Gautam Adani, the billionaire chair of Indian conglomerate Adani Group and one of the world's richest people, has been indicted in New York over

November 20, 2024
Billionaire Gautam Adani of India's Adani Group charged in US with bribery, fraud
Business|Economy|Finance|Political|US|World

Biden administration moves to forgive $4.7 billion of loans to Ukraine

The Biden administration has moved to forgive about $4.7 billion in U.S. loans to Ukraine, State Department spokesperson Matthew Miller said

November 20, 2024
Biden administration moves to forgive $4.7 billion of loans to Ukraine
Business|Economy|Finance|US

Non-recessionary rate-cutting cycle should support credit, Pinebridge says

Asset manager PineBridge Investments said in a report that it is seeing the start of a rare non-recessionary interest rate-cutting cycle that should support

November 20, 2024
Non-recessionary rate-cutting cycle should support credit, Pinebridge says
Business|Finance|Stock Markets

Elf Beauty stock slides after Muddy Waters says it has shorted its shares

Muddy Waters has taken a short position in cosmetics company Elf Beauty, the hedge fund's chief executive Carson Block said at the Sohn conference in London on

November 20, 2024
Elf Beauty stock slides after Muddy Waters says it has shorted its shares
Economy|Finance|US

Fed's Bowman says rate cuts are concerning

Federal Reserve Governor Michelle Bowman on Wednesday expressed discomfort with the U.S. central bank cutting interest rates while inflation continues to run above the Fed's

November 20, 2024
Fed's Bowman says rate cuts are concerning
Business|Finance

Argentina's YPF to seek $2 billion in financing for oil pipeline in Q2 2025

Argentina's state-run oil company YPF will seek $2 billion in financing in the second quarter of 2025 to complete its Vaca Muerta Sur project, a company source said on

November 20, 2024
Argentina's YPF to seek $2 billion in financing for oil pipeline in Q2 2025
Business|Finance

News Corp says investors reject proposal to end dual class voting structure

News Corp said on Wednesday that investors rejected a proposal by activist investor Starboard Value to break the Murdoch family's grip on the publisher by

November 20, 2024
News Corp says investors reject proposal to end dual class voting structure
Business|Finance|Stock Markets|US

Goldman Sachs CEO Solomon sees robust capital markets next year, CNBC reports

Goldman Sachs CEO David Solomon expects capital markets to be more robust in 2025, he said in an interview with CNBC on Wednesday, joining a wave of positive forecasts as inflation eases

November 20, 2024
Goldman Sachs CEO Solomon sees robust capital markets next year, CNBC reports
Economy|Finance|US

Fed's Bowman calls for cautious approach on interest rates

Federal Reserve Governor Michelle Bowman, among the U.S. central bank's most hawkish policymakers, on Wednesday called for a cautious approach to any further interest rate cuts, noting

November 20, 2024
Fed's Bowman calls for cautious approach on interest rates
Business|Economy|Finance|US

PIMCO bullish on stocks on US soft landing hopes, cautious on inflation

An optimistic outlook on the U.S. economy is prompting U.S. bond giant PIMCO to favor stocks and some other risk assets, while seeking protection against

November 20, 2024
PIMCO bullish on stocks on US soft landing hopes, cautious on inflation
Business|Crime|Finance|Technology

FTX co-founder gets no prison time after cooperating in case against Sam Bankman-Fried

An apologetic FTX co-founder has been sentenced to no time in prison after a prosecutor and a judge praised his cooperation against Sam Bankman-Fried and his efforts to recover money for victims of the cryptocurrency fraud

November 20, 2024
FTX co-founder gets no prison time after cooperating in case against Sam Bankman-Fried
Business|Economy|Finance

Russian inflation jumps 0.37% in latest week

Russian consumer prices rose 0.37% in the latest week, up from 0.3% in the previous week, data showed, driven by price growth for butter, sunflower oil, dairy products and potatoes,

November 20, 2024
Russian inflation jumps 0.37% in latest week
Business|Economy|Finance

UK inflation could undershoot forecasts, requiring faster rate cuts, BoE's Ramsden says

British inflation is at least as likely to undershoot the Bank of England's latest forecasts as it is to match them, potentially requiring faster rate cuts, Deputy

November 20, 2024
UK inflation could undershoot forecasts, requiring faster rate cuts, BoE's Ramsden says
Business|Finance|US

UAW says majority of workers at Ford joint-venture battery plant sign union cards

A majority of workers at a Ford Motor joint-venture battery plant in Kentucky have signed cards indicating their support for the United Auto Workers, the union said

November 20, 2024
UAW says majority of workers at Ford joint-venture battery plant sign union cards
Business|Finance|Technology|US

Bankman-Fried's ex-deputy Wang avoids prison time over crypto fraud

Former cryptocurrency executive Gary Wang, who unwittingly wrote the computer code that helped FTX founder Sam Bankman-Fried steal about $8 billion from customers of

November 20, 2024
Bankman-Fried's ex-deputy Wang avoids prison time over crypto fraud
Business|Economy|Europe|Finance|Stock Markets|US

Ford to cut 4,000 jobs in Europe

Ford to cut 4,000 jobs in Europe

November 20, 2024
Ford to cut 4,000 jobs in Europe
Asia|Business|Economy|Finance|World

India's Q3 growth to pick up after festive boost, cenbank says in bulletin

India's economic growth is expected to pick up in the current quarter after a slowdown in July-September, the country's central bank said in its monthly bulletin on Wednesday, citing a

November 20, 2024
India's Q3 growth to pick up after festive boost, cenbank says in bulletin
Business|Economy|Finance|US

Delta CEO says the Trump administration will reverse government 'overreach' seen under Biden

The chief executive of Delta Air Lines says the incoming Trump administration will be a “breath of fresh air” for airlines after what he called government “overreach” under President Joe Biden

November 20, 2024
Delta CEO says the Trump administration will reverse government 'overreach' seen under Biden
Business|Finance|Stock Markets|Technology

Firstrade to offer overnight trading, joins growing list of US brokerages

Online brokerage Firstrade plans to launch overnight trading in early 2025, the latest firm looking to offer retail clients the chance to trade US stocks and exchange-

November 20, 2024
Firstrade to offer overnight trading, joins growing list of US brokerages
Business|Finance|Technology

KPMG to spend $100 million on AI partnership with Google Cloud

- KPMG said on Wednesday it would spend $100 million over the next four years to bolster its enterprise artificial intelligence services through a partnership

November 20, 2024
KPMG to spend $100 million on AI partnership with Google Cloud
Business|Economy|Finance|Lifestyle|US

Uncertainty clouds holiday shopping season after mixed forecasts from Walmart, Target

Retailers are in for a mixed holiday season this year ahead of Black Friday and Christmas, marked by watchful consumers keeping big spending on a

November 20, 2024
Uncertainty clouds holiday shopping season after mixed forecasts from Walmart, Target
Business|Economy|Finance|US

3 urgent tasks awaiting Trump’s pick for Treasury secretary

3 urgent tasks awaiting Trump’s pick for Treasury secretary

November 20, 2024
3 urgent tasks awaiting Trump’s pick for Treasury secretary
Business|Economy|Finance

Legal complications await if OpenAI tries to shake off control by the nonprofit that owns the rapidly growing tech company

When for-profit companies are spun out of nonprofits, there is no easy way out of the legal consequences.

November 20, 2024
Legal complications await if OpenAI tries to shake off control by the nonprofit that owns the rapidly growing tech company
Business|Europe|Finance|Stock Markets

Ford to cut European jobs as EV shift, Chinese rivals take toll

Ford said it would cut around 14% of its European workforce on Wednesday, blaming losses in recent years due to weak electric vehicle demand

November 20, 2024
Ford to cut European jobs as EV shift, Chinese rivals take toll
Business|Economy|Finance

Sheetz is slashing gas prices by 40 cents a gallon

Sheetz is slashing gas prices by 40 cents a gallon

November 20, 2024
Sheetz is slashing gas prices by 40 cents a gallon
Business|Economy|Finance|US

Brokerages see 'uncertain' 2025 on worries over potential Trump tariffs

Uncertainties around U.S. policies may slow global economic growth modestly in 2025, according to major brokerages. They expect U.S.

November 20, 2024
Brokerages see 'uncertain' 2025 on worries over potential Trump tariffs
Asia|Business|Finance|Stock Markets

Top 20 global family-owned retail businesses

Japan's Seven & i Holdings received a buyout proposal from a member of its founding Ito family last week, a potential $58 billion white-knight bid which

November 20, 2024
Top 20 global family-owned retail businesses
Business|Economy|Finance

Chile's central bank: Tighter external financing could impact households, businesses

Tighter external financing conditions could impact Chile's households, businesses and mortgages, increasing default risks they might face, the central bank said on Wednesday.

November 20, 2024
Chile's central bank: Tighter external financing could impact households, businesses
Business|Finance|US

TJX raises annual profit forecast as off-price stores attract bargain hunters

TJX Cos raised its annual profit forecast on Wednesday, benefiting from lower costs and strong demand from cash-strapped customers flocking to its off-price stores for

November 20, 2024
TJX raises annual profit forecast as off-price stores attract bargain hunters
Business|Finance|Technology|US

China's Pony AI seeks up to $4.55 billion valuation in upsized US IPO

Pony AI is targeting a valuation of up to $4.55 billion in its upsized U.S. initial public offering, it said on Wednesday, indicating strong demand for the Chinese

November 20, 2024
China's Pony AI seeks up to $4.55 billion valuation in upsized US IPO
Africa|Business|Economy|Finance|Stock Markets

Kenya in talks for fresh $750 million from World Bank, $200 million from AfDB, says official

Kenya has secured a $200 million loan from the African Development Bank and is in talks with the World Bank for a new $750 million loan, the finance ministry's head

November 20, 2024
Kenya in talks for fresh $750 million from World Bank, $200 million from AfDB, says official
Business|Finance

Why Target is losing to Walmart

Target forecast flat sales for the holiday shopping season. Telsey Advisory Group’s Joseph Feldman tells CNN’s Vanessa Yurkevich why the big box retailer appears to be losing market share to Walmart and whether it can turn things around.

November 20, 2024
Why Target is losing to Walmart
Business|Finance|Stock Markets|Technology

TSX stops short of record high as investors await fresh catalyst

Canada's main stock index inched higher on Wednesday as gains for energy shares offset investor reluctance to make big bets ahead of the release after the close of an

November 20, 2024
TSX stops short of record high as investors await fresh catalyst
Business|Economy|Finance

India's FY25 capital spending seen 5% below target, top ministry official says

India might undershoot its capex target of 11.1 trillion rupees ($131.72 billion) for fiscal year 2024-25 by around 5%, a top finance ministry official said on Wednesday.

November 20, 2024
India's FY25 capital spending seen 5% below target, top ministry official says
Business|Economy|Europe|Finance

Swiss industry gloomy over prospects as sales and exports slip

Swiss industry is struggling with falling orders and sales as weaker European demand and a strong franc hit exporters, with two surveys showing companies gloomy about

November 20, 2024
Swiss industry gloomy over prospects as sales and exports slip
Business|Economy|Finance|Stock Markets|US

Delta Air eyes mid single-digit revenue growth in 2025 with premium travel in focus

Delta Air Lines said on Wednesday it expects 2025 revenue to grow by a mid single-digit percentage as it strengthens its bet on premium travel, a major revenue driver for the carrier.

November 20, 2024
Delta Air eyes mid single-digit revenue growth in 2025 with premium travel in focus
Business|Economy|Finance

A tale of two retailers: Target reports sluggish spending while Walmart has a stellar quarter

Target has reported sluggish sales and slumping profits in the fiscal third quarter as inflation-weary customers curtailed their spending on apparel and other non-essential items

November 20, 2024
A tale of two retailers: Target reports sluggish spending while Walmart has a stellar quarter
Business|Finance|Stock Markets|US

Target shares slide 21% as retailer expects stagnant holiday quarter sales

Target forecast holiday-quarter comparable sales and profit below estimates on Wednesday as value-conscious consumers shopped for low-priced essentials at rival retailers

November 20, 2024
Target shares slide 21% as retailer expects stagnant holiday quarter sales
Asia|Business|Finance|Technology

Apple makes $100 million investment proposal for new plant in Indonesia

Tech giant Apple has made a $100 million investment proposal to Indonesia to build a plant to manufacture accessories and components, the industry ministry said on Wednesday.

November 20, 2024
Apple makes $100 million investment proposal for new plant in Indonesia
Business|Finance|Stock Markets|Technology|US

Nvidia vigil sees risk overcome safety

A look at the day ahead in U.S. and global markets from Mike Dolan Tuesday's geopolitical angst faded fast in world markets as positioning ahead of today's results from AI-giant Nvidia saw Big Tech

November 20, 2024
Nvidia vigil sees risk overcome safety
Business|Finance|Stock Markets|US

Archegos' Bill Hwang sentenced to 18 years in prison for massive US fraud

Former billionaire investor Sung Kook "Bill" Hwang was sentenced to 18 years in prison on Wednesday over the collapse of Archegos Capital

November 20, 2024
Archegos' Bill Hwang sentenced to 18 years in prison for massive US fraud
Business|Economy|Finance|US

Senator Warren urges Fed to keep Wells Fargo asset cap

The Federal Reserve must not remove Wells Fargo's $1.95 trillion asset cap until the bank has fixed its risk management and compliance issues, top Democratic

November 20, 2024
Senator Warren urges Fed to keep Wells Fargo asset cap
Business|Finance|Technology|US

Google must divest Chrome to restore competition in online search, DOJ says

Alphabet's Google must sell its Chrome browser, share data and search results with rivals and take other measures - including possibly selling Android - to end its monopoly on

November 20, 2024
Google must divest Chrome to restore competition in online search, DOJ says
Asia|Business|Economy|Finance

Sinochem may keep bankrupt refineries as auctions draw scant interest, sources say

Sinochem Group may keep three bankrupt oil refineries located in eastern China after auctions to sell them drew little interest from other companies, sources

November 20, 2024
Sinochem may keep bankrupt refineries as auctions draw scant interest, sources say
Economy|Europe|Finance|World

Turkey's Erdogan cites inflation forecast when asked about minimum wage hike

President Tayyip Erdogan on Wednesday cited the central bank's year-end inflation forecast of 44% and said Turkey will not let inflation crush people when asked about an expected

November 20, 2024
Turkey's Erdogan cites inflation forecast when asked about minimum wage hike
Business|Economy|Europe|Finance

Euro zone negotiated pay growth accelerates in Q3, adding to rate cut caution

Euro zone negotiated wage growth accelerated in the third quarter, adding to the case for caution in cutting interest rates quickly as the labour market remains tight despite

November 20, 2024
Euro zone negotiated pay growth accelerates in Q3, adding to rate cut caution
Business|Economy|Finance|Food|US

CONSUMER WATCH: HOW MUCH WILL THANKSGIVING FOOD COST?

How much will a Thanksgiving dinner cost this year? Jenn Sullivan looks at how inflation is impacting prices

November 20, 2024
CONSUMER WATCH: HOW MUCH WILL THANKSGIVING FOOD COST?
Business|Europe|Finance

VW union proposes $1.6 billion of cuts, but no plant closures

Volkswagen workers offered on Wednesday to back 1.5 billion euros ($1.6 billion) in cost savings if it rules out closing plants in

November 20, 2024
VW union proposes $1.6 billion of cuts, but no plant closures
Business|Europe|Finance

Cinven secures Italian nod to sell minority stake in Synlab to Labcorp

Private equity firm Cinven secured a conditional approval from Italian authorities over its plan to sell a 15% stake in diagnostic service provider Synlab to laboratory operator

November 20, 2024
Cinven secures Italian nod to sell minority stake in Synlab to Labcorp
Europe|Finance|Stock Markets|Technology

ECB warns of 'bubble' in AI stocks as funds deplete cash buffers

The European Central Bank warned on Wednesday about a "bubble" in stocks related to artificial intelligence (AI), which could burst abruptly if investors' rosy expectations are

November 20, 2024
ECB warns of 'bubble' in AI stocks as funds deplete cash buffers
Economy|Finance|US

Trump to unleash nearly 40% tariffs on China in early 2025, hitting growth: Reuters poll

The United States could impose nearly 40% tariffs on imports from China early next year, a Reuters poll of economists showed, potentially

November 20, 2024
Trump to unleash nearly 40% tariffs on China in early 2025, hitting growth: Reuters poll
Europe|Finance|Stock Markets

Europe's STOXX 600 flat in volatile trading; real estate weighs

Europe's main stock index closed flat after a volatile session on Wednesday as investors remained on edge over geopolitical

November 20, 2024
Europe's STOXX 600 flat in volatile trading; real estate weighs
Asia|Business|Finance|Stock Markets

China's cashed-up crowd is back in the stock market

Speculative fever in Chinese stocks is running red hot and catching the attention of some global funds, who figure local money is worth

November 20, 2024
China's cashed-up crowd is back in the stock market
Business|Finance|Technology

Nokia wins 'multi-billion' dollar deal in India

Finnish telecom equipment supplier Nokia on Wednesday said it had won a "multi-billion" dollar deal with India's Bharti Airtel for delivery of 4G and 5G equipment.

November 20, 2024
Nokia wins 'multi-billion' dollar deal in India
Africa|Economy|Finance

South Africa inflation drops to lowest in over four years

South Africa's inflation rate dropped sharply in October to its lowest level since the peak of the COVID pandemic, data showed on Wednesday,

November 20, 2024
South Africa inflation drops to lowest in over four years
Asia|Business|Economy|Finance

Japan set to approve $87 billion economic stimulus this week

Japan's ruling coalition on Wednesday agreed with a key opposition party on the draft of an economic stimulus package, clearing a major hurdle for the $87

November 20, 2024
Japan set to approve $87 billion economic stimulus this week
Asia|Economy|Finance

Indonesia central bank leaves rates on hold as it focuses on FX stability

Indonesia's central bank left interest rates unchanged on Wednesday, as expected, saying changed global dynamics after the U.S. election

November 20, 2024
Indonesia central bank leaves rates on hold as it focuses on FX stability

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