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NYCB shares tumble 26% after ‘material weakness’ disclosure rattles investors

March 1, 2024

Via: Investing.com

New York Community Bancorp (NASDAQ:CTBI) shares plunged nearly 26% on Friday after it replaced its CEO, reported a fourth-quarter loss that was more than 10 times what it previously stated and said it found “material weaknesses” in internal controls related […]


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Shares of NYCB fall more than 20% after bank discloses ‘internal controls’ issue, CEO change

February 29, 2024

Via: CNBC

Shares of New York Community Bancorp fell more than 26% on Friday after the regional lender announced a leadership change and disclosed issues with its internal controls. The regional bank announced after market close on Thursday that Alessandro DiNello, its […]


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Boeing Efforts to Improve Safety Fall Short, FAA Panel Says

February 26, 2024

Via: The Wall Street Journal

Boeing’s push to improve its safety culture after two 737 MAX crashes is falling short, according to a panel tasked with reviewing the plane maker’s practices following the accidents. The independent panel established by the Federal Aviation Administration found a […]


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HSBC posts record annual profit but misses estimates on China write-down, shares tumble 7%

February 22, 2024

Via: CNBC

HSBC’s full-year 2023 pretax profit missed analysts’ estimates on Wednesday, hit by impairment costs linked to the lender’s stake in a Chinese bank, sinking its London-listed shares as much as 7%. Europe’s largest bank by assets saw its pre-tax profit […]


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Chord Energy, Enerplus to Combine in $11 Billion Deal

February 21, 2024

Via: The Wall Street Journal

Oil and gas producers Chord Energy CHRD -3.04% and Enerplus plan to combine in an $11 billion deal. The companies said Wednesday that the deal would be 90% in stock and 10% in cash. Chord shareholders would control about two-thirds […]


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Gold Prices on the Rise, Confluence Resistance in Sight. What Now for XAU/USD?

February 20, 2024

Via: DailyFX

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 […]


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Asian shares ease as early rate cut bets fizzle, focus on Fed minutes

February 20, 2024

Via: Investing.com

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 […]


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US investor in talks with Superdry co-founder about a bid for the chain, Sky News reports

February 19, 2024

Via: Investing.com

U.S. asset manager Davidson Kempner, owner of Britain’s Oak Furnitureland, is in discussions with British fashion retailer Superdry co-founder Julian Dunkerton about backing an offer for the clothing company, Sky News reported on Monday, without citing a source. The talks […]


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Euro Slips In Holiday Thinned Market, Looks Nervously to German PMI

February 19, 2024

Via: DailyFX

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 […]


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Chinese EV Maker BYD Exploring Mexico Factory as Entry to U.S. Market

February 15, 2024

Via: The Wall Street Journal

Chinese automaker BYD has set its sights on Mexico as its quest for global expansion turns toward North America. The Shenzhen-based car company, whose rapid growth has made it one of the world’s largest electric-vehicle sellers, is scouting locations in […]


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Deflation: Here’s where prices fell in January 2024, in one chart

February 14, 2024

Via: CNBC

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. […]


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Gold Price, Nasdaq 100, EUR/USD – What Comes Next After US CPI Data?

February 13, 2024

Via: DailyFX

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 […]


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Consumers await key inflation data as hopes for ‘soft landing’ linger

February 12, 2024

Via: NBC News

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. […]


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Societe Generale posts sharp profit drop as net banking income slides

February 8, 2024

Via: CNBC

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 […]


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China Stocks Notch Best Day in Years on Beijing Action

February 6, 2024

Via: The Wall Street Journal

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 […]


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Asia stocks inch higher as China rebounds, dollar firm

February 5, 2024

Via: Investing.com

Asian shares edged up on Tuesday thanks to a bounce in battered Chinese markets, although investors were cautious after a slide on Wall Street amid diminishing expectations of a near-term Federal Reserve rate cut, which in turn underpinned the dollar. […]


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Mastercard preps for China business

February 1, 2024

Via: Payments Dive

Mastercard is preparing for a speedy rollout of services in the “massive economy” of China, Mastercard’s CEO said on a call with analysts Wednesday. Mastercard, the second-largest U.S. card network, is on track to launch services in China in the […]


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Gold Price Forecast: US Jobs Data to Shape Near-Term Trend, Setup on XAU/USD

February 1, 2024

Via: DailyFX

The Federal Reserve concluded earlier this week its first meeting of 2024, voting to maintain its policy settings unchanged. The FOMC also abandoned its tightening bias, but indicated it will not rush to cut borrowing costs. Chairman Powell went a […]


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U.S.-China fentanyl talks get off to a ‘productive’ start, security advisor says

January 31, 2024

Via: CNBC

The U.S. and China had a “productive” first day of talks in Beijing about the fentanyl crisis, Jennifer Daskal, a deputy homeland security advisor, told NBC News’ Janis Mackey Frayer in an exclusive interview Tuesday. “We’re looking for results and […]


News

Oil Prices Pullback Sharply after Oil Tanker Strike, Caution Grows

January 30, 2024

Via: DailyFX

Brent crude oil was making a marvelous recovery since it consolidated in the early days of 2024 but such upward momentum has not only stalled, but cut back somewhat. After breaching the $83.50 mark, UK oil trade softened, closing around […]