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

Finance

Business|Economy|Finance

Tumbling lithium prices push Albemarle to fresh round of cost cuts

Albemarle, the world's largest lithium producer, said on Wednesday it would slash costs for the second time this year and that everything but its dividend could be on

Tumbling lithium prices push Albemarle to fresh round of cost cuts
Business|Economy|Finance

Casino Operator MGM beats second-quarter estimates on recovery in Macau business

MGM Resorts International beat Wall Street's second-quarter estimates on Wednesday, thanks to a strong recovery in Macau following the easing of pandemic-related restrictions last year.

Casino Operator MGM beats second-quarter estimates on recovery in Macau business
Business|Finance

AIG reports smaller-than-expected rise in profit

American International Group reported a smaller-than-expected rise in second-quarter profit on Wednesday, hurt by lower underwriting income in its general insurance unit tied to

AIG reports smaller-than-expected rise in profit
Business|Economy|Finance

Corteva trims 2024 forecasts on pricing pressure in crop protection

Corteva cut its annual sales and operating earnings forecasts on Wednesday as the U.S. agrichemicals maker faces declining prices at its crop protection unit, sending its shares down 5.7%

Corteva trims 2024 forecasts on pricing pressure in crop protection
Business|Finance|Technology

Facebook parent Meta posts stronger-than-expected Q2 results, sending shares higher after hours

Investments in artificial intelligence will account for a significant increase in Facebook parent company Meta’s expenses in the coming year, but stronger-than-expected revenue from its advertising business was enough to reassure investors that its business is on the right track

Facebook parent Meta posts stronger-than-expected Q2 results, sending shares higher after hours
Business|Economy|Finance

Carvana forecasts 2024 core profit above Wall Street expectations

Carvana forecast annual core profit above analysts' expectations on Wednesday, driven by strong demand for its used vehicles and improved inventory management, which helped the used-car

Carvana forecasts 2024 core profit above Wall Street expectations
Business|Economy|Finance

EBay beats quarterly results estimates on steady demand for refurbished goods

EBay exceeded Wall Street expectations for second-quarter revenue and profit, buoyed by robust demand for pre-owned goods, cost-effective automotive parts and accessories.

EBay beats quarterly results estimates on steady demand for refurbished goods
Business|Finance|Stock Markets|Technology

Facebook parent Meta sees strong global ad sales while keeping AI costs in check

Meta Platforms beat market expectations for second-quarter revenue on Wednesday and issued a rosy sales forecast for the third quarter, signaling that robust

Facebook parent Meta sees strong global ad sales while keeping AI costs in check
Economy|Finance|News

Rudy Giuliani agrees to deal to end his bankruptcy case, pay creditors' financial adviser $400k

Rudy Giuliani has agreed to a last-minute deal to end his personal bankruptcy case and pay about $400,000 to a financial adviser hired by his creditors

Rudy Giuliani agrees to deal to end his bankruptcy case, pay creditors' financial adviser $400k
Economy|Finance

What to do — and what not to do — now that the Fed is signaling lower rates

As the Fed inches closer to cutting its benchmark interest rate, how can households prepare? Karin Caifa reports.

What to do — and what not to do — now that the Fed is signaling lower rates
Economy|Finance|News

What to do — and what not to do — now that the Fed is signaling lower rates

What to do — and what not to do — now that the Fed is signaling lower rates

What to do — and what not to do — now that the Fed is signaling lower rates
Economy|Finance|Stock Markets

Billionaire Ackman pulls IPO of Pershing Square USA days before debut

Billionaire investor Bill Ackman scrapped the launch of Pershing Square USA on Wednesday, days before the fund was slated to begin trading on the New York Stock

Billionaire Ackman pulls IPO of Pershing Square USA days before debut
Economy|Finance

Fed's Powell: Recent price data bolstering confidence inflation moderating

Federal Reserve Chair Jerome Powell said recent inflation data is increasing the central bank's confidence that inflation pressures are moving back to the 2% target.

Fed's Powell: Recent price data bolstering confidence inflation moderating
Economy|Finance

Colombia central bank cuts benchmark rate to 10.75%, hikes growth outlook

Colombia's central bank cut its benchmark interest rate by 50 basis points to 10.75% on Wednesday, its sixth cut since December, as the bank's technical team

Colombia central bank cuts benchmark rate to 10.75%, hikes growth outlook
Economy|Finance

Instant view: FOMC does not change rates, but sets stage for September cut

The Federal Reserve held interest rates steady on Wednesday but opened the door to reducing borrowing costs as soon as its next meeting in September as inflation continues coming into line

Instant view: FOMC does not change rates, but sets stage for September cut
Economy|Finance

Traders boost bets Fed goes big on Sept rate cut

Traders on Wednesday added to bets the Federal Reserve will start easing in September and go big when it does, even after Fed Chair Jerome Powell said policymakers are not thinking about a

Traders boost bets Fed goes big on Sept rate cut
Business|Finance

US FTC fines CarShield $10 million for deceptive ads, including by celebrities

CarShield agreed on Wednesday to pay $10 million to settle U.S.

US FTC fines CarShield $10 million for deceptive ads, including by celebrities
Americas|Economy|Finance|News

US senator to propose bill to require new FAA safety efforts

U.S.

US senator to propose bill to require new FAA safety efforts
Economy|Finance

BOJ shift gives yen a shake and causes reassessment of popular FX trade

The Bank of Japan's move to raise interest rates to their highest in 15 years has jolted the yen to its strongest against the dollar since

BOJ shift gives yen a shake and causes reassessment of popular FX trade
Economy|Finance

Fitch Ratings forecasts two US interest-rate cuts in 2024

Fitch Ratings said on Wednesday it expects the U.S. Federal Reserve to cut interest rates twice this year - in September and December.

Fitch Ratings forecasts two US interest-rate cuts in 2024
Business|Economy|Finance|Stock Markets

BorgWarner's second-quarter profit beats on auto parts demand

BorgWarner beat Wall Street expectations for second-quarter profit and raised its annual earnings forecast on Wednesday as the auto parts supplier benefited from sustained demand, sending

BorgWarner's second-quarter profit beats on auto parts demand
Business|Economy|Finance

UBS sues Bank of America for $200 million over crisis-era mortgage costs

UBS sued Bank of America for $200 million on Wednesday, saying the second-largest U.S. bank refused to cover its legal costs related to risky mortgages issued

UBS sues Bank of America for $200 million over crisis-era mortgage costs
Business|Economy|Finance

Japan's central bank should gradually hike rates to 1%, Suntory CEO says

The Bank of Japan should continue to gradually increase its interest rates up to the level of 1% by next year, Suntory Chief Executive Takeshi Niinami said on

Japan's central bank should gradually hike rates to 1%, Suntory CEO says
Business|Finance

Apex Capital Trust submits bid to acquire Paramount Global for up to $43 billion

(Reuters is withdrawing this story pending further investigation about the legitimacy of the bid. More reporting will follow.)

Apex Capital Trust submits bid to acquire Paramount Global for up to $43 billion
Economy|Finance

US pending home sales surge in June

Contracts to buy U.S. previously owned homes rebounded sharply in June as an improvement in supply and some moderation in mortgage rates pulled buyers in from the sidelines.

US pending home sales surge in June

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