(Reuters) -GameStop Corp posted a surprise profit for the fourth quarter and surpassed revenue expectations as the videogame retailer trimmed costs and reduced headcount, sending its shares more than 32% higher in extended trading. The company has been shoring up its online sales capabilities in a bid to transform into a digital behemoth from its …
GameStop shares surge as videogame retailer posts surprise profit Read More »
(Reuters) -Nike Inc beat estimates for third-quarter revenue and profit on Tuesday, boosted by strong demand for its sneakers as consumers snapped up newer franchise launches and classic styles such as Jordan Retro in North America and Europe. The company has benefited from higher sales of its franchises such as LeBron helping grow its market …
Nike third-quarter results beat on Jordan Retro demand Read More »
By Jody Godoy and Jonathan Stempel NEW YORK (Reuters) – A U.S. judge on Tuesday signaled he was unlikely to dismiss an indictment accusing Bill Hwang of fraud in the collapse of his $36 billion Archegos Capital Management LP, after Hwang accused prosecutors of misconduct for duping him into cooperating with their probe. U.S. District …
Judge in Archegos founder’s criminal case unlikely to dismiss charges Read More »
By Stephen Culp NEW YORK (Reuters) – Wall Street closed sharply higher on Tuesday as widespread fears over liquidity in the banking sector abated and market participants eyed the Federal Reserve, which is expected to conclude its two-day policy meeting on Wednesday with a 25 basis-point hike to its policy rate. All three major U.S. …
Wall Street ends green on bank bounce as Fed takes focus Read More »
By David Shepardson WASHINGTON (Reuters) – The U.S. Transportation Department will announce on Tuesday it is awarding $94.8 million to 59 projects on advanced technology projects to boost road safety, improve transit reliability and use drones and sensors for transportation projects. The $1 trillion November 2021 infrastructure law dedicates $500 million over five years for …
U.S. awards $94 million for innovative mobility projects Read More »
LAUSANNE, Switzerland (Reuters) – Goldman Sachs expects a commodities supercycle driven by China and the capital flight from energy markets in this month’s banking crisis, the U.S. bank’s head of commodities said. “As losses mounted, it spilled into commodities,” Jeff Currie, global head of commodities for Goldman Sachs, told the Financial Times Commodities Global Summit. …
By Giulio Piovaccari MILAN (Reuters) – Maserati aims to increase its margin on operating profit to 15% in the next 12 months and sees a longer term target of 20% by the end of this decade, according to the CEO of the Stellantis luxury brand. The margin stood at 8.7% last year, though topped 10% …
Maserati aims at driving margins higher before any spin-off talk Read More »
A look at the day ahead in European and global markets from Anshuman Daga Market gyrations are common but the scale of recent moves across asset classes due to a slew of bank takeovers has shocked even the most experienced traders and investors. Safe-havens such as gold and Treasuries are in high demand along with …
Marketmind: Signs of confidence re-emerge after bank storm Read More »
ZURICH (Reuters) -The Swiss National Bank sold 22.3 billion Swiss francs ($23.97 billion) worth of foreign currencies interventions last year, the central bank said in its annual report published on Tuesday, a reversal from the 21.1 billion francs bought in 2021. The SNB has said it is prepared to buy and sell foreign currencies as …
SNB sold $24bln in foreign currencies during 2022 in intervention U-turn Read More »
By John O’Donnell and Andres Gonzalez ZURICH (Reuters) -Days before a hastily convened press conference late on Sunday that would make the world’s front pages, Switzerland’s political elite were secretly preparing a move that would jolt the globe. While the nation’s central bank and financial regulator publicly declared that Credit Suisse was sound, behind closed …
Switzerland’s secretive Credit Suisse rescue rocks global finance Read More »
