BEIJING/HONG KONG (Reuters) – Jeremy Fang, a sales officer at a Chinese aluminium products maker, is trying to export more to markets in Asia, Africa and Latin America to offset the U.S. tariffs’ impact. The problem, he says, is that his competitors have the same idea. “It will only result in a mad rat race,” …
Analysis-Chinese exporters brace for ‘rat race’ in shift away from US Read More »
(Reuters) -Applied Materials forecast second-quarter revenue below market estimates on Thursday, expecting escalating geopolitical tensions to weigh on sales of its chipmaking equipment, sending its shares down more than 5% in extended trading. Revenue from China, Applied’s largest market by revenue share in the first quarter, is threatened by tighter U.S. restrictions on exports of chipmaking …
By Aida Pelaez-Fernandez and Sarah Morland MEXICO CITY (Reuters) – Walmart’s Mexico and Central America unit reported a 1.4% bump in its fourth-quarter net profit on Thursday, coming in at 15.2 billion Mexican pesos ($729 million), slightly below analysts’ forecasts as its general expenses jumped some 15%. Analysts polled by LSEG had forecast profits for …
Walmart’s Mexico unit profit edges up, slightly below forecasts Read More »
By Noel Randewich and Sukriti Gupta (Reuters) -The S&P 500 ended higher on Thursday, lifted by gains in Nvidia, Apple and Tesla, after U.S. President Donald Trump unveiled a roadmap for charging reciprocal tariffs on U.S. trading partners. A White House official said the tariffs would match the higher duties charged by other countries and …
Wall Street ends higher after Trump unveils tariff plan Read More »
By Michael S. Derby (Reuters) -Overall debt levels held by Americans rose modestly in the final quarter of last year on a healthy consumer sector, even as automobile borrowing faced some turbulence, the Federal Reserve Bank of New York said on Thursday. “Consumers are in pretty good shape in terms of the household debt landscape, …
NY Fed finds rising consumer debt amid some fraying for car loans Read More »
(Reuters) – Morgan Stanley CEO Ted Pick’s compensation was set at $34 million for 2024, his first year in the top job, a filing showed on Thursday. Leaders of Wall Street rivals, including David Solomon at Goldman Sachs and Jamie Dimon of JPMorgan Chase, also got pay bumps after their company profits rose, buoyed by …
Morgan Stanley boosts CEO Ted Pick’s compensation to $34 million in first year at helm Read More »
By Jasper Ward WASHINGTON (Reuters) – U.S. Transportation Secretary Sean Duffy said on Thursday he had asked Boeing’s CEO to come to Washington, D.C., “as soon as possible” to discuss quality and safety issues at the company. The U.S. planemaker has been under scrutiny after a series of crises involving safety, including when a door …
US transportation chief demands meeting with Boeing CEO on safety Read More »
By Alden Bentley (Reuters) – A look at the day ahead in Asian markets. A rally in U.S. stocks and bonds looked counterintuitive after PPI headlines appeared to be the second hot inflation read this week, but, under the hood, key components looked more like they were moving the direction the Fed and Wall Street …
Morning Bid: Wall St rallies as hot PPI looks cooler under surface Read More »
(Reuters) – Casino operator Wynn Resorts beat analysts’ estimates for fourth-quarter profit and revenue on Thursday, driven by strong business in Las Vegas and other regional properties, sending its shares up about 3% in extended trading. Peer MGM Resorts International also beat quarterly estimates earlier this week, aided by robust bookings across its properties. Wynn …
Casino operator Wynn beats fourth-quarter estimates on strength in Las Vegas business Read More »
(Reuters) – A federal judge in Washington, D.C., on Thursday put the U.S. Securities and Exchange Commission’s civil lawsuit against Binance on hold for 60 days, granting a joint request by the regulator and the world’s largest cryptocurrency exchange. U.S. District Judge Amy Berman Jackson issued her order after both parties on Monday said a …
US SEC case against crypto exchange Binance put on hold Read More »
