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 […]

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 […]

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 […]

‘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 […]

Apple to replace key Broadcom chip with in-house design – Bloomberg News

Reuters | January 10, 2023

(Reuters) -Apple Inc plans to replace a Broadcom Inc chip from its devices with an in-house design in 2025, Bloomberg News reported on Monday, citing people familiar with the matter. The iPhone maker has been working to limit its reliance on other chipmakers, having moved to its own line of chips for recent models of […]

Global stocks close in on 4-week highs, oil rises on hopes of ‘soft landing’

Reuters | January 9, 2023

By David Randall NEW YORK (Reuters) -World stocks rallied on Monday to their highest levels since mid-December after China reopened its borders while benchmark Treasury yields drifted lower as investors scaled back expectations for further rate hikes by the Federal Reserve. The gains were broad across global equity markets, with Europe’s STOXX 600 near a […]

GE HealthCare rises 8% in market debut, eyes small deals

Reuters | January 4, 2023

By Leroy Leo and Kannaki Deka (Reuters) -GE HealthCare Technologies Inc’s shares rose as much as 8.4% in their Nasdaq debut on Wednesday and its chief executive said the company was looking to do small acquisitions to boost its cardiology and oncology operations in the long term. The company, which was spun off from conglomerate […]

Dollar jumps, U.S. stocks buck global rally

Reuters | January 3, 2023

By Amanda Cooper and Koh Gui Qing LONDON/NEW YORK (Reuters) -The dollar jumped on Tuesday as oil prices sank, while U.S. stocks bucked a global equities rally in a macro-packed week that could offer a steer on when and where U.S. interest rates might peak. The MSCI All-World index fell 0.2%, dragged by losses in […]

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