S&P’s Risk-On Momentum Gets Added Boost From Rebounding Profits
With the quarterly reporting season roughly half over, US corporate earnings have largely lived up to Wall Street’s optimistic expectations even as macroeconomic headwinds linger.
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With the quarterly reporting season roughly half over, US corporate earnings have largely lived up to Wall Street’s optimistic expectations even as macroeconomic headwinds linger.
Ukraine sustained a heavy Russian missile barrage overnight aimed at gas infrastructure and other targets, while striking back a Russian oil refinery with drones.
Biden’s campaign is making an unprecedented effort to court influencers, even though he signed a bill that could lead to TikTok vanishing in the US.
ICICI Bank Ltd. reported profits that surpassed analyst expectations as demand for retail loans continues to be strong in the world’s most populous nation.
Iran will release the personnel of a Portuguese-flagged container ship that it seized this month after discussions between officials from the two countries, Fars news agency reported, citing the Iranian foreign minister.
Deutsche Bank AG is putting aside as much as €1.3 billion ($1.4 billion) in legal provisions, warning this will hit profits.
Private equity fund L Catterton, which is backed by luxury giant LVMH Moet Hennessy Louis Vuitton SE, agreed to buy a majority stake in Italian beauty brand Kiko.
Thames Water customers will have contributed £540 million ($674 million) toward the construction of new sewerage infrastructure in London by the time it starts operating next year, the Financial Times reported, citing a study.
Russian forces pressed forward in eastern Ukraine and in some areas accelerated their advance as Kyiv’s depleted forces await badly needed US weaponry, according to US and UK officials.
Rishi Sunak said this week he’s putting UK defense spending on a “war footing.” He might as well have been talking about his own position.
The Bank of Japan kept interest rates unchanged, driving the yen to a fresh 34-year low, while US inflation showed few signs of simmering down.
The UK is contemplating sending soldiers to Gaza to support aid deliveries once a new corridor opens in May, the BBC reported.
Hamas said it will examine the latest Israeli counterproposal on a ceasefire in Gaza and the release of hostages as Israel continues preparations for a major new offensive.
Germany’s economic prospects are looking up after two grueling years of near-zero growth. The consumer-led revival, though, papers over enduring industrial weakness for which there’s no quick fix.
US intelligence agencies have found that Russian President Vladimir Putin likely didn’t order opposition leader Alexey Navalny’s death at a prison camp in February, the Wall Street Journal reported.
The United Auto Workers said it reached a tentative agreement with Daimler Truck Holding AG ahead of a contract expiring midnight on April 26 and following a strike threat.
Crown jewels including resorts and a gas station chain are up for grabs. Saudi Arabia mulls purchases.
(Bloomberg) -- China’s industrial companies’ profits fell in March as exports flagged and deflationary pressures persisted, suggesting the economy’s stronger-than-expected growth early this year might be tough to maintain.
Bank of Singapore Ltd., the private-banking arm of Oversea-Chinese Banking Corp., has fired up to 40 employees over the misuse of medical benefits, according to a CNA report.
Jared Kushner’s Affinity Partners joined the board of Brazilian fast-food operator Zamp SA after making an investment of about $200 million earlier this year.
Singapore will introduce a new law this year that will help so-called gig-economy workers plan for their retirement needs and get work injury protection, Minister for Manpower Tan See Leng said.
Bondholders of struggling Dish Network Corp. sued the satellite-TV provider, demanding it unwind transfers that they said put valuable assets out of the hands of creditors and violated lending terms.
A cause celebre is ringing out across Harvard Yard, Columbia’s South Lawn, Yale’s Beinecke Plaza and UC Berkeley’s Sproul Plaza: Disclose and divest.
British Columbia has asked the Canadian government to reintroduce a ban on public drug use, a major step back on a controversial experiment to decriminalize the possession of certain illegal drugs.
Republic First Bank became the latest smaller lender to succumb to pressures of higher interest rates on Friday when it was closed by regulators — with most of its deposits and assets acquired by Fulton Bank.
Paramount Global’s board is considering removing Chief Executive Officer Bob Bakish and putting the film and TV company under a committee of top executives while it evaluates a possible sale, according to a person familiar with the matter.
Monumental Labs mills Renaissance-style marble statues with the aid of technology.
India, a usually noisy nation, has gotten louder.
Representative French Hill, a senior Republican on the Financial Services Committee, said he would support combination legislation tying marijuana banking to stablecoin regulation if negotiators can reach a deal.
Apple Inc. has renewed discussions with OpenAI about using the startup’s technology to power some new features coming to the iPhone later this year, according to people familiar with the matter.
Erich Andersen, the US-based general counsel for TikTok and its Chinese parent company ByteDance Ltd., is stepping down from that role, the social media app said.
Amazon.com Inc. is close to a deal to bring NBA games to its Prime Video streaming service, according to two people familiar with the negotiations.
Hedge funds trimmed bets on Brent and West Texas Intermediate crude as a relatively quiet week in the Middle East and weak US economic data weigh on prices.
Emmanuel Macron avoided a reprimand of his stalling efforts to tackle France’s bloated debt burden as two rating firms kept their assessments of the country’s creditworthiness unchanged.
Emerging-market stocks rose Friday, cementing their biggest weekly advance in nine months, as Asian technology stocks got a boost from US corporate earnings that confirmed booming demand for artificial intelligence.
Fitch Ratings became the third major credit grader to turn pessimistic on Boeing Co. as the planemaker’s crisis brings scrutiny to its balance sheet.
The yen fell to a fresh 34-year low against the dollar after the Bank of Japan indicated monetary policy will stay easy, heightening speculation authorities may soon intervene in the market to stop the currency’s decline.
American Airlines Group Inc. is cutting some international flights and reducing the frequency of others because beleaguered planemaker Boeing Co. won’t deliver as many widebody aircraft as planned this year.
Sierra Nevada Corp. has won a $13 billion contract to develop a successor to the “Doomsday Plane,” the E-4B command and control aircraft on which the president would fly in in event of national emergency such as a nuclear attack, the Pentagon announced Friday.
The Texas electrical grid operator warned of a possible emergency early next week because of a potential shortfall of power reserves.
New York Community Bancorp Inc. has had one of the most tumultuous quarters in recent banking history. Its first-quarter earnings will probably reveal more about impacts from the drama — and management’s plan to move forward.
Traders upped bearish yen positions to a record high in the days ahead of the Bank of Japan’s policy meeting, as a weakening currency fueled intervention risks.
The opening week of Donald Trump’s historic hush money trial offered plenty of insights into how his 2016 presidential campaign teamed up with a tabloid publisher to silence embarrassing stories from women who said they’d had extramarital affairs with him.
With inflation up, economic growth down and two-year Treasury yields testing 5%, Bill Gross sensed the music in markets was fading, and said it was time to get over the likes of the Magnificent Seven.
Mexican discount retailer BBB Foods Inc. jumped on Friday, by the most since its initial public offering in February, after posting solid growth in its first set of results.
Leveraged funds trimmed bets on the Mexican peso in a week that saw the currency briefly collapse amid rising geopolitical tensions.
President Joe Biden’s administration is delaying action on a proposed rule to ban menthol cigarettes, which some activists have said would unfairly target Black smokers.
Donald Trump’s longtime personal assistant, who worked for his real estate empire for decades, told a jury that she has a “vague recollection” of seeing Stormy Daniels at Trump Tower sometime before 2015.
Intel Corp., the biggest maker of personal computer processors, tumbled the most in three months on Friday after giving a lackluster forecast for the current period, indicating that it’s still struggling to return to the top tier of the chip industry.
A closed-end fund that holds shares of private technology firms like Elon Musk’s SpaceX, OpenAI and Epic Games Inc. has been mostly defying gravity since its debut a month ago, until now.
Drivers heading into New York City’s traffic-clogged central business district will start paying a congestion pricing toll on June 30, according to the Metropolitan Transportation Authority.
UMB Financial Corp. is in talks to acquire rival Heartland Financial USA Inc., people with knowledge of the matter said, in what would be the biggest US regional bank merger this year.
Yuga Labs Inc., the developer of the popular Bored Ape Yacht Club nonfungible token collection, is letting go of an unspecified number of employees as it undergoes restructuring.
Natural gas prices in West Texas under pressure from a glut in supply sank even further into negative territory after a segment of a pipeline system was shut following a fire, threatening to trap gas in the region.
Millennium Management accused Jane Street Group of playing games by not fully disclosing the proprietary trading strategy it claims was stolen by two former traders who joined Izzy Englander’s hedge fund group.
The US’s top auto-safety regulator extended its years-long investigation of Tesla Inc.’s Autopilot to determine whether a fix the carmaker made months ago does enough to keep people from misusing the system.
To curb the use of US-made civilian guns in crimes and human rights abuses abroad, the Biden administration will require exporters to better vet their customers and tighten sales to 36 countries deemed “high-risk” for illicit diversion of semiautomatic firearms.
For Goldman Sachs Group Inc. staff looking to set up meetings in Paris to stealthily catch the Olympics — the bank is on to you.
The delinquency rate for US small businesses climbed to a three-year high this month, reflecting the impact of rent spikes and declining revenue, according to a monthly survey.
The US economy is resilient, and it’s bad news for Joe Biden.
Apollo Global Management Inc., KKR & Co. and Stonepeak may inject billions of dollars into a joint venture that will help fund Intel Corp.’s semiconductor fabrication facility in Ireland, according to people with knowledge of the matter.
BHP Group Ltd.’s proposal for a $39 billion takeover of rival Anglo American Plc is all about securing plenty of copper supplies — so now, the potential deal is throwing uncertainty over the future for Anglo’s massive fertilizer mine in England.
Major Russian grain exporter TD Rif has accused Moscow of trying to control and inflate export prices, another escalation in a dispute between the government and one of the country’s biggest wheat traders.
Mauritius Telecom, the Indian Ocean island nation’s telecommunications operator, said internet and television services are back to normal after a “technical problem” with an undersea cable.
Mexico’s state oil giant posted a slight profit in the first quarter as production slipped, with government support helping to prop up the debt-saddled company.
The giant California-based health plan Kaiser Permanente said its websites and apps may have inappropriately sent members’ private information to tech giants including Alphabet Inc., Microsoft Corp. and the social media company X.
Defense Secretary Lloyd Austin confirmed Friday a $6 billion commitment for long-term contracts to provide Ukraine with weapons such as Patriot missiles, artillery ammunition and drones.
Argentina’s Central Bank President Santiago Bausili and Finance Secretary Pablo Quirno are scheduled to meet with People’s Bank of China Governor Pan Gongsheng in Beijing as soon as Monday, amid negotiations over an $18 billion swap line, according to a person with direct knowledge.
Cava Group Inc. is planning to further expand its footprint in the Chicago area and other areas of the Midwest, making a contrarian bet that the region will reverse population declines that have plagued it in recent years.
The US shale-oil sector experienced the biggest plunge in drilling activity in more than five months as explorers keep a tight hold on spending.
Elliott Investment Management has built a roughly $1 billion stake in Anglo American Plc, the UK-listed miner that’s received an unsolicited takeover approach from Australia’s BHP Group Ltd.
International Business Machines Corp. will expand its Canadian semiconductor packaging and testing plant with more than C$1 billion ($730 million) in investments over the next five years.
UBS Group AG is considering bringing a synthetic credit risk transfer to the market, according to people with knowledge of the matter, amid Swiss reform proposals that could see the bank face higher capital requirements.
Lawmakers in Guinea’s transition administration approved an agreement signed last year between the government and West Africa LNG Group, meaning a potential $3 billion investment in liquefied natural gas import infrastructure.
IAG SA’s €400 million ($428 million) takeover of Air Europa risks being derailed for a second time, unless the firms fix a list of anticompetitive concerns handed down by European Union regulators.
Physical crude oil flows in pipelines across the US are flat compared with last year, underscoring estimates that oil production will grow little in 2024, according to research firm Wood Mackenzie Ltd.
The UK summoned the Russian ambassador on Friday, after police earlier charged several men under a new national security law for supporting Russia by carrying out an arson attack against a Ukraine-linked business on British soil.
Mexico’s opposition presidential candidate Xochitl Galvez is running out of opportunities to mount a serious challenge against President Andres Manuel Lopez Obrador’s anointed successor, trailing by a wide margin in polling just five weeks before election day.
The metric Tesla Inc. told investors early last year was most important to its executives is in steady decline.
About three decades ago, a group of Citigroup Inc. dealmakers including Donald Mackenzie, Steven Koltes and Rolly van Rappard left the Wall Street giant to strike out on their own.
Exxon Mobil Corp. plunged the most in six months after higher-than-expected maintenance costs diminished oil-refining results.
To the naked eye, a key US inflation metric held steady in March. But look a little closer at two or three decimal places and you’ll see that it actually picked up.
King Charles III will return to public-facing duties next week for the first time since revealing his cancer diagnosis in February.
Carlyle Group Inc. and the family owners of Tamko Building Products are considering a sale that could value the maker of roof shingles at more than $3.5 billion, according to people familiar with the matter.
A selloff in US Treasuries paused on Friday, bringing yields down from their highest levels of the year, after a report on inflation allayed concern about a spate of hotter-than-expected price data.
The municipal-bond market’s regulator published a note highlighting the risks of buying Build America Bonds that are trading at more than 100 cents on the dollar, which expose investors to potential losses as governments increasingly buy them back under refinancings.
Porsche AG’s profit plummeted during the first quarter for the weakest result since listing in September 2022 with model changeovers and soft demand in China weighing on the manufacturer’s outlook.
Gold is headed for its first weekly loss in six as investors booked profits after the metal’s months-long rally.
Five Amazon.com Inc. workers at a UK warehouse are challenging the company’s introduction of posters with QR codes that let employees cancel their union membership in seconds.
European stocks posted the best weekly performance since January after investors responded positively to an earnings deluge and as key US inflation data met estimates.
Mexican companies are pushing ahead with plans to sell shares, seeking to tap renewed interest from global equity investors, according to the head of Barclays Plc in the country.
Casa Systems Inc., which makes software and other products for cable television companies, won court approval to sell its cloud-based unit for $32.3 million to Lumine Group US Holdco Inc. in order to fund the rest of its bankruptcy case.
Delta Air Lines Inc. CEO Ed Bastian and Microsoft Corp.‘s Satya Nadella are among the corporate executives tapped Friday to help shield critical US services from artificial intelligence-powered attacks, as part of the Biden administration’s broader effort to minimize risks the technology poses to national security.
Russia’s oil-processing rates remain under pressure as refineries, which have barely recovered from drone attacks, enter seasonal maintenance.
BHP Group Ltd.’s bid to spin off Anglo American Plc’s South African assets as part of a takeover proposal shows how the economic policies of the ruling African National Congress have undermined investor confidence in the country, the main opposition party said.
Top copper producer Codelco reported a decline in quarterly output due to lower quality ore at its aging Chilean mines — the latest sign of supply-side struggles that have helped send metal prices to two-year highs.
TGI Fridays is working with Guggenheim Partners to explore ways to address its debt as the restaurant chain contends with weakening sales, according to people with knowledge of the matter.
Snap Inc.’s sizable post-earnings swing Friday is nothing new to its investors. What’s different this time is the direction: up.
President Joe Biden said he intends to debate Donald Trump ahead of their November general-election rematch, a break with previous comments expressing reluctance about sharing a stage with his predecessor.
Southern Copper Corp. raised its annual production guidance as ore quality improves and the company resolves water supply issues in Mexico, offering a little relief for a tightening global copper market.