Optimism over China, peak bond yields draw flows into stocks -BofA

Reuters | January 27, 2023

(Reuters) -Weekly inflows into stocks in the week to Wednesday were the largest in six weeks, data from BofA Global Research showed, as China’s reopening of its borders and expectations that bond yields have peaked fed investor risk appetite. Investors poured $13.9 billion into stocks with $3.4 billion flowing into European shares – the largest […]

JetBlue Airways expects higher 2023 profit on strong travel demand

Reuters | January 26, 2023

(Reuters) – JetBlue Airways Corp forecast full-year adjusted profit above Wall Street estimates on Thursday, aided by a strong rebound in travel demand even as economic worries mount. U.S. carriers have been enjoying the strongest travel demand since the start of the COVID-19 pandemic, boosted by reopening of closed borders, a strong U.S. dollar and […]

U.S. worker shortage denting Freeport-McMoRan’s copper output

Reuters | January 25, 2023

(Reuters) -Freeport-McMoRan Inc warned on Wednesday that its struggle to find workers in the United States is limiting the amount of copper it can produce for the green energy transition. The worker shortage reflects the talent crunch facing the broader mining industry, as well as the wider macroeconomic trend of workers jumping between jobs in […]

Oil falls $2/barrel on economic jitters, U.S. crude stock build

Reuters | January 24, 2023

By Arathy Somasekhar HOUSTON (Reuters) – Crude oil prices slipped on Tuesday on concerns about a global economic slowdown and as preliminary data indicated a bigger than expected build in U.S. oil inventories. Brent futures for March delivery fell $2.06, or 2.3%, to $86.13 a barrel. U.S. crude fell $1.49, or 1.8%, to $80.13 per […]

Spotify to trim 6% of workforce in latest tech layoffs

Reuters | January 23, 2023

(Reuters) -Spotify Technology SA said on Monday it plans to cut 6% of its workforce and would take a related charge of up to nearly $50 million, adding to the massive layoffs in the technology sector in preparation for a possible recession. The tech industry is facing a demand downturn after two years of pandemic-powered […]

IKEA sees higher demand in Europe driven by home furnishings – CEO

Reuters | January 20, 2023

By Divya Chowdhury and Savio Shetty DAVOS, Switzerland (Reuters) – Ingka Group, the owner of most IKEA stores, sees demand in Europe to continue rising in the current fiscal year, driven by strong demand for home furnishings that has outlasted coronavirus lockdowns, the company’s CEO said. “We are right now optimistic that this would be […]

Texas AG to halt most of Citigroup’s municipal offerings on gun law row

Reuters | January 19, 2023

(Reuters) -Citigroup Inc has discriminated against the firearms sector, the office of Texas Attorney General Ken Paxton said, making a decision that “has the effect” of Texas halting Citi’s ability to underwrite most municipal bond offerings in the state. Republicans have been ramping up pressure on the finance industry over environmental, social and governance (ESG) […]

Davos 2023: Convert offices to homes to curb housing crisis-panel

Reuters | January 18, 2023

LONDON (Reuters) – Empty offices globally should be converted to apartments to address a growing housing crisis in many countries, property executives told the World Economic Forum in Davos on Wednesday. Commercial real estate values are sliding as an economic downturn reduces demand for space among cost-conscious companies, whose employees have been spending fewer days […]

Davos 2023: EU to counter U.S. climate game changer with own green deal

Reuters | January 17, 2023

By Maha El Dahan and Jan Strupczewski DAVOS, Switzerland (Reuters) – The European Union responded on Tuesday to U.S. moves to boost its energy transition with its own plans to make life easier for green industry, saying it would mobilize state aid and a sovereignty fund to keep firms from moving to the United States. […]

‘I didn’t steal funds,’ Sam Bankman-Fried says in unusual post-arrest blog post

Reuters | January 12, 2023

By Luc Cohen NEW YORK (Reuters) -Sam Bankman-Fried said he did not steal money and blamed the collapse of his now-bankrupt FTX exchange on a broad crash in cryptocurrency markets, in a highly unusual blog post on Thursday, a month after his arrest on U.S. fraud charges. Federal prosecutors in Manhattan in December said Bankman-Fried […]

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