A rally in US stocks leading up to this earnings season presents a near-term risk to equities given the prospect of further Federal Reserve rate hikes and fading profit growth, according to Morgan Stanley’s Michael Wilson.
Royal Philips NV surged as stronger-than-expected earnings outweighed the €575 million ($630 million) costs of a planned legal settlement related to the company’s sleep apnea devices.
Evercore Inc. is considering calling off an exclusive tie-up on mergers and acquisitions advisory services with Indian billionaire Uday Kotak’s investment banking unit, according to people with knowledge of the matter, as the boutique advisory firm seeks to bolster its presence in Asia’s third-largest economy.
The Chinese Embassy in France removed a transcript of a controversial interview in which its ambassador questioned the independence of former Soviet Union states, remarks that generated anger across Europe.
Nippon Life Insurance Co. expects the Bank of Japan will adjust its yield-curve control policy in June and will accelerate the purchase of local bond holdings when it does so, according to its annual allocation plan.
Big Oil used last year’s unexpected windfall from surging energy prices to shower investors with rewards and pay down debt. As the cash continues to flow in 2023, the question is whether they will find more adventurous uses for their money.
Smoking in Singapore, one of the priciest places in the world to light up, has gotten more expensive. The cost of cigarettes and alcoholic beverages in the city-state increased 11% from a year earlier in March, according to the latest inflation data from the Singapore Department of Statistics. That follows a 15% increase in excise duty for all tobacco products in the local government’s budget for 2023, a move expected to generate $100 million in additional revenue per year.
Turkey and Syria’s defense and intelligence chiefs will meet in Moscow on Tuesday as the two countries try to repair ties long strained by President Bashar Al-Assad’s war.
Credit Suisse Group AG’s dramatic rescue is a lesson that even well-capitalized banks can lose the trust of the market, according to a senior Japanese regulatory official.
Adani Group bonds rose after a key company started the first debt buyback by Indian billionaire Gautam Adani’s conglomerate since it was targeted by a short seller in January.
