Tag: Finance

February 21, 2024

Mastercard is likely to suffer the biggest competitive blow in the card network industry if Capital One absorbs Discover Financial Services, shifting debit and credit payment flows to its newly acquired network. The deal is still subject to regulatory approvals […]

February 20, 2024

Gold (XAU/USD) rose for the fourth straight session on Tuesday (+0.50% to $2,027), firmly establishing itself above the $2,025 mark, supported by declining U.S. Treasury yields and a subdued U.S. dollar, with risk-averse sentiment on Wall Street likely reinforcing the […]

February 20, 2024

Asian stocks eased on Wednesday as diminishing expectations of early interest rate cuts from the Federal Reserve sapped risk appetite, with investors looking to the minutes of the U.S. central bank’s last meeting for clues on the policy outlook. MSCI’s […]

February 20, 2024

Most major Asian chipmaking stocks moved in a flat-to-low range on Wednesday, tracking overnight declines in NVIDIA Corporation (NASDAQ:NVDA) as markets awaited more cues on an AI-driven boom from the chipmaker’s fourth-quarter earnings. Nvidia wiped out about $100 billion in […]

February 19, 2024

The Euro lost a little ground against the United States Dollar on Monday but, as the latter’s home market is going to be largely shut down for the Presidents’ Day break, the real trading action will probably come later in […]

February 19, 2024

US equity and bond markets are closed for the day – US Presidents’ Day holiday – and this will weigh on market activity across a range of asset classes. Activity over the rest of the week should pick up with […]

February 15, 2024

Global Payments has attracted headlines this week over potential acquisitions it might make, but in an earnings call with analysts CEO Cameron Bready was more ready to talk about parts of the company that might be pared. In addressing “potential […]

February 14, 2024

Inflation has pulled back significantly from its pandemic-era peak. In fact, some categories have fallen into outright deflation, meaning consumers are seeing the prices decline instead of rise. Deflation has largely occurred among physical goods rather than services, economists said. […]

February 14, 2024

Eversource Energy (ES) has announced its exit from the offshore wind business, selling its 50% stake in two projects for $1.1 billion amid industry challenges. Despite a reported loss of $1.26 per share in 2023, mainly due to a $5.58 […]

February 13, 2024

Oil prices fell in early Asian trade on Wednesday after a U.S. industry group reported crude stocks rose more than expected last week and as investors reined in expectations for interest rate cuts by the U.S. Federal Reserve. Brent futures […]

February 13, 2024

Gold prices (XAU/USD) plunged and reached their weakest point in two months on Tuesday after higher-than-anticipated U.S. CPI data sparked a hawkish repricing of Fed interest rate expectations, boosting U.S. Treasury yields and the U.S. dollar across the board. With […]

February 12, 2024

Elevated inflation continues to pervade the U.S. economy. And while the pace of 12-month price increases has slowed from the near-double-digit highs reached in the summer of 2022, American consumers are still encountering higher prices compared with before the pandemic. […]

February 12, 2024

Oil prices moved little in Asian trade on Tuesday as traders turned cautious ahead of key U.S. inflation data that is expected to factor into the path of interest rates, while an OPEC monthly report was also in focus. Prices […]

February 9, 2024

Cross-border payments player Western Union and rival Euronet Worldwide are both increasingly counting on their faster-growing digital services to fuel the expansion of their businesses. The money transfer companies earn revenue from providing services that let consumers send money domestically […]

February 8, 2024

Societe Generale on Thursday reported a sharp decline in fourth-quarter net profit on the back of weaker net banking income, but launched a new 280 million euro ($302 million) share buyback program. The French lender posted group net income of […]

February 8, 2024

The Energy Information Agency (EIA) reported another storage drawdown in Cushing Oklahoma but the latest drop was minor. Nevertheless, it extends the run of drawdowns to 5 successive prints but has struggled to meaningfully propel oil prices higher. Drawdowns imply […]

February 8, 2024

Sky News has learnt that the Spanish-owned lender has told the Advertising Standards Authority (ASA) that the Nationwide television commercial – featuring the actor Dominic West as an arrogant bank boss – is misleading about its rivals’ approach to closing […]

February 7, 2024

The quiet period after the festive Christmas period has, according to data going back to 2007, witnessed very modest returns for the S&P 500. In fact, over the same time horizon, it represents the third worst month for the index. […]

February 7, 2024

Orsted, the company developing the Norfolk coast windfarm, Hornsea 3, also suspended shareholder payments in an effort to strengthen its balance sheet. In common with the industry more broadly, Orsted has been hit by high inflation, raised interest rates, project […]

February 6, 2024

Chinese shares notched their best day in years after Beijing signaled its intent to prop up the battered equities market, including by directing a trillion-dollar sovereign-wealth fund to boost holdings. The benchmark Shanghai Composite Index gained 3.2% Tuesday, snapping a […]