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By Nichola Saminather | SINGAPORE SINGAPORE Asian stocks retreated on Thursday, taking their cues from a subdued session on Wall Street, while the dollar retained gains made after the Federal Reserve delivered a hawkish policy statement. At the end of its two-day meeting, the Fed kept its benchmark interest rate steady as expected, but downplayed weak first-quarter economic growth and emphasized the strength of the labor market, […]

Long before TV presenter Naoufer Ramoul had an apartment to decorate, she had chosen an interior designer. Ramoul, who is the presenter of the weekly political debate show ­Qabil li Niqash, had come across Harf Noon Design Studio on Instagram, and immediately got in touch with the company’s founder, Nisrine El Lababidi. “Naoufer messaged me and said: ‘Nisrine, I don’t own a house at the moment, but […]

Tesla boss Elon Musk surpassed even his own lofty standards of both hubris and humility on Wednesday, as he looked ahead to a day when the electric carmaker will be worth more than Apple — but also admitted he had confused his customers with a bad product-naming decision. “I want to preface this by saying I could be delusional,” Mr Musk told Wall Street analysts on his […]

While we doubt anything material will emerge for various obvious reasons, the NY Post reports that the DOJ is probing Goldman Sachs for alleged Treasury auction rigging: the charge is that Goldman, one of the 23 US primary dealers, won almost all Treasury bond auctions from 2007 to about 2011 even after the Treasury department established safeguards to maintain competitiveness. The case is said to center on […]

By Nick Carey and Joseph White | DETROIT DETROIT Automotive supplier Delphi Automotive Plc (DLPH.N) on Wednesday said it plans to spin off operations tied to internal combustion engines and focus on technology for electrically powered and self-driving vehicles, boosting its share price and highlighting the challenges for legacy auto industry players. Vehicles driven by humans and powered with petroleum will dominate roads from Shanghai to San […]

Sprint on Wednesday delivered mixed fourth quarter financial results. The Overland Park, Kansas-based company reported a net loss of $283 million, or seven cents per share, compared to a loss of $554 million, or 14 cents per share, the year prior. The nation’s fourth-largest wireless carrier posted net operating revenue of $8.54 billion, up five percent above the previous year. Wall Street was expecting a loss of […]

By Nichola Saminather | SINGAPORE SINGAPORE Asian stocks followed global indexes higher on Wednesday, as strong earnings and manufacturing data boosted risk appetite, while expectations that the Federal Reserve will signal a June rate increase later in the session lifted the dollar. Oil prices pulled higher after a sharp fall on Tuesday on technical selling in a market already worried about oversupply and following a rise in […]

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Shares in Advanced Micro Devices logged their biggest one-day drop in more than 10 years on Tuesday after the chipmaker posted downbeat first-quarter sales and received an analyst downgrade. AMD was the biggest decliner on the S&P 500, falling 24.4 per cent to $10.30 after the company said net revenues rose 18 per cent from a year ago to $984m but was shy of analysts’ estimates of […]

Esure hit a record high on Tuesday amid hopes that surging car insurance premiums will translate to fatter dividends. Canaccord Genuity added Esure to its “buy” list as part of a sector review. It forecast motor insurance pricing to keep rising at the current pace until the end of 2017, having jumped 16 per cent year on year in the first quarter, and expected the larger insurers […]

Pfizer Inc (PFE.N), the largest U.S. drugmaker, reported quarterly revenue that missed estimates as sales of its key drugs fell short of expectations. Sales of breast cancer drug Ibrance, which is expected to face competition from rival Novartis AG’s (NOVN.S) Kisqali, rose more than 58 percent to $679 million, but missed the consensus estimate of $682 million, according to Barclays. “Key franchises came in well below expectations, […]

Tuesday 06:00 BST Overview Stocks across Asia were mixed on Tuesday as investors grappled with Wall Street’s lowest level of volatility since before the financial crisis amid a holiday-interrupted week. European bourses are expected to open higher, with spreadbetters predicting the UK’s FTSE 100 will climb 26 points to 7,230 and Germany’s Dax to gain 22 points to 12,460. US index futures suggest the S&P 500 will […]

For nearly two months, American International Group Inc (AIG.N) has planned to replace its chief executive but a successor has yet to be named, creating a void that has fueled investor concern about the insurance company’s future. AIG reports its first-quarter earnings on Wednesday and analysts and investors said they want to know more about AIG’s succession plans. Chief Executive Officer Peter Hancock announced on March 9 […]

By Andrew Cawthorne and Alexandra Ulmer | CARACAS CARACAS Venezuela’s socialist President Nicolas Maduro announced on Monday the creation of a new popular assembly with the ability to re-write the constitution, which foes decried as a power-grab to stifle weeks of anti-government unrest. “I don’t want a civil war,” Maduro told a May Day rally of supporters in downtown Caracas while elsewhere across the city security forces […]

Wall Street’s so-called fear gauge slid to its lowest level since before the credit crisis on Monday as the broad US stock market inched closer to a new all-time high and the technology-heavy Nasdaq Composite closed at a record. The Chicago Board Options Exchange’s implied volatility index, also known as the Vix, slipped as much as 9 per cent on Monday afternoon to touch 9.90, its lowest […]

TOKYO Asian shares advanced on Tuesday, helped by rising optimism on the technology industry and easing concerns over North Korea, while the dollar edged up to one-month high versus the yen. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1 percent, with many of the region’s markets reopening after a long holiday weekend. Japan’s Nikkei rose 0.3 percent. On Wall Street, although the Dow Jones […]

Advanced Micro Devices (AMD) published its first quarter financial results on Monday, meeting market expectations. However, AMD shares fell in after-hours trading. As Wall Street anticipated, the company posted a non-GAAP net loss of $38 million, or 4 cents per share, on revenue of $984 million. Revenue was up 18 percent year-over-year, largely driven by demand for Ryzen CPUs, CEO Lisa Su noted. “We are positioned for […]

US corporate boardrooms’ approval of share buyback plans has fallen to its lowest level since 2012, signalling that the stock market’s surge to further highs this year is curbing a key source of demand for equities. Companies on the S&P 500 index have authorised $146bn in share buybacks this year, down 15 per cent from a year ago, according to data from Goldman Sachs. Executives have also […]

Besides the upcoming FOMC meeting on May 2-3, and French & Italian politics – the decisive runoff round of the French election takes place this Sunday – this week’s releases are dominated by US payrolls expected to come around 170k. The busy release calendar continues with Norges bank and RBA meetings as well as global manufacturing PMIs. The market’s focus during the week of 5/1 will begin […]

By Shinichi Saoshiro | TOKYO TOKYO Asian stocks struggled for traction on Monday after weaker-than-expected U.S. economic growth data, while the dollar dropped against the yen amid tensions over North Korea and slipped versus the euro on evidence of strong euro zone inflation. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS inched up 0.1 percent and Japan’s Nikkei .N225 added 0.1 percent. Many markets in Asia […]

The Trump administration has opened the door to huge potential savings for hedge fund and private equity managers by proposing to slash tax rates for small businesses in a way that could be exploited by Wall Street financiers. Hedge fund and private equity managers are a subgroup that could emerge with some of the biggest gains from the President Donald Trump’s tax plan, which was scorned by […]

By Patrick Rucker | HARRISBURG, Pa. HARRISBURG, Pa. U.S. President Donald Trump hit the road on Saturday to celebrate his first 100 days in the White House with cheering supporters at a campaign-style rally, touting his initial achievements and lashing out at critics. Trump told a Pennsylvania crowd he was just getting started on meeting his campaign promises. He repeatedly attacked an “incompetent, dishonest” media, saying they […]

By Lawrence Delevingne | BEVERLY HILLS, Calif. BEVERLY HILLS, Calif. Titans of U.S. industry and Wall Street gather in Beverly Hills this week to discuss how to navigate – and profit from – hot topics such as U.S. tax reform, the upcoming French election and Chinese economic growth. U.S. President Donald Trump’s first 100 days and the next 1,000, as well as the outlook for liberal democracy […]

The pope said he did not know enough about French politics to respond, but, he said, “Europe is in danger of breaking apart, this is true.” He noted that the migrant crisis fueled fears that destabilized the Continent, “but we mustn’t forget that Europe is made by immigrants.” Continue reading the main story “Centuries and centuries of immigrants,” he said. “It’s us.” That inclusive message has proved […]

Authored by Patrick O’Shaughnessy via InvestorsFieldGuide.com, My guest this week is Danny Moses, who was directly in the middle of the biggest trades in market history, chronicled by Michael Lewis in his book the Big Short. Danny was the head trader on the Frontpoint team led by Steve Eisman, which was one of a small group of firms that figured out, in real time, the dire situation […]

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