By Saqib Iqbal Ahmed and Laura Matthews NEW YORK (Reuters) – Options volume on SPDR S&P Regional Banking ETF surged for a second straight session on Thursday, spurred by bearish trading, as a sell-off in shares of U.S. regional banks continued after trouble at New York Community Bancorp. KRE shares fell 2% on Thursday while …
Traders play defense in regional bank ETF’s options as shares sink Read More »
By Nate Raymond BOSTON (Reuters) – A labor-backed coalition on Thursday filed a lawsuit seeking to block an industry-supported bid to ask Massachusetts voters to decide whether ride-share and delivery drivers for companies like Uber and Lyft should be treated as independent contractors rather than employees. A group of voters who count drivers and union …
Labor-backed group sues to block Massachusetts gig worker ballot proposal Read More »
By Stephen Culp (Reuters) -U.S. stocks rebounded on Thursday as investors looked to a spate of high-profile earnings and the Friday’s employment report the day after the Federal Reserve quashed lingering bets that interest rate cuts could begin as early as March. While a broad rally sent all three major U.S. stock indexes sharply higher, …
Wall Street ends higher; earnings, jobs report in focus Read More »
(Reuters) – Amazon.com beat fourth-quarter revenue expectations on Thursday on robust growth in online spending by consumers during the holiday season despite high borrowing costs. Revenue in the fourth quarter rose 14% to $170 billion. Analysts on average expected revenue of $166.21 billion, according to LSEG data. (Reporting by Akash Sriram in Bengaluru; Editing by …
Amazon reports quarterly revenue above estimates Read More »
By Howard Schneider WASHINGTON (Reuters) -U.S. worker productivity gains running well above the long-term average may help buttress the Federal Reserve’s faith that inflation is contained and further open the door to interest rate cuts policymakers anticipate will start in coming months. Output per worker, a key gauge of how fast the economy can grow …
Productivity bump another step for Fed toward inflation confidence Read More »
By Marie Mannes STOCKHOLM (Reuters) -Volvo Cars said on Thursday it would stop funding Polestar Automotive Holding and was handing responsibility for the struggling luxury car brand over to Volvo’s top shareholder China’s Geely Holding. The announcement sent the Swedish automaker’s stock up more than 30% at market open. The heavy involvement by Swedish-listed Volvo …
Volvo Cars to stop funding Polestar, may hand stake to Geely Read More »
LONDON (Reuters) -Adidas shares fell on Thursday after the sportswear maker delivered a forecast for 2024 well below analyst expectations, based on limited profits from selling off its last stocks of Yeezy shoes after its break-up with Kanye West. Adidas forecast an operating profit of around 500 million euros ($539.95 million) in 2024, against analysts’ …
ZURICH (Reuters) -Julius Baer CEO Philipp Rickenbacher will leave the bank, the Swiss wealth manager said on Thursday, as it reported net credit losses of 586 million Swiss francs ($679 million) linked to its exposure to property and retail giant Signa Holding. The write off was significantly more than the 400 million Swiss franc Signa-related …
Julius Baer CEO steps down; bank exits private debt business Read More »
By Maggie Fick and Ludwig Burger LONDON/FRANKFURT (Reuters) -Roche forecast a pick up in sales growth this year as it overcomes a slump in demand for its COVID-19 products and a decline in sales of a trio of established cancer drugs abates. The Swiss drugs and diagnostic maker said on Thursday that group sales, which …
Roche sees pick up in growth as it overcomes drop in COVID sales Read More »
By David Lawder WASHINGTON (Reuters) -The U.S. House of Representatives on Wednesday overwhelmingly approved a $78 billion bipartisan package of tax breaks for businesses and low-income families that was put on a fast track even as Congress remains deadlocked over broader fiscal issues. The temporary tax measure, which would increase the Child Tax Credit and …
US House backs $78 billion child, business tax breaks bill in rare bipartisan vote Read More »
