Reuters US Business

CME profit tops views as investors ready for rate hikes, shares hit record high

9 Feb 2022

By John McCrank NEW YORK (Reuters) – CME Group Inc on Wednesday reported a fourth-quarter profit that topped Wall Street expectations, helped by increased usage of the futures exchange operator’s interest rate hedging tools as investors prepare for central bank tightening. With the U.S. economic recovery in full swing and inflation surging, markets are pricing …

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KFC-parent Yum Brands sales boosted by demand for tacos, fried chicken

9 Feb 2022

By Praveen Paramasivam (Reuters) – KFC-parent Yum Brands Inc reported quarterly comparable sales that beat estimates on Wednesday, driven by strong online demand for its tacos and fried chicken as well as new offerings across its restaurants. To attract more customers, Yum recently launched special menu items, such as a crispy chicken sandwich taco at …

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Discovery-WarnerMedia deal clears U.S. antitrust review

9 Feb 2022

(Reuters) – Media company Discovery Inc’s plan to acquire venerable film and TV studio WarnerMedia has passed the U.S. Department of Justice’s antitrust review, clearing another hurdle toward closing, according to a regulatory filing on Wednesday. The $43 billion deal, which was announced last May, received unconditional antitrust clearance from the European Commission in December. …

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Fed’s Bowman: keeping ‘open mind’ on central bank digital currency

9 Feb 2022

By Ann Saphir (Reuters) – Federal Reserve Governor Michelle Bowman said Wednesday said she is “trying to keep an open mind” about the usefulness of a U.S. central bank digital currency, the pros and cons of which the Fed is currently exploring and about which Bowman in the past has expressed skepticism. In that consideration, …

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Spotify chief content officer calls Joe Rogan events a ‘learning experience’

9 Feb 2022

By Elizabeth Culliford (Reuters) -Spotify’s chief content officer Dawn Ostroff told advertisers at a conference on Wednesday that the backlash around popular U.S. podcaster Joe Rogan’s podcast had been a “real learning experience” for the streaming service. “We do feel that we have a responsibility to support creator expression, but also balance that creator expression …

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Weed firms lift TSX to near 3-month high amid global stock rally

9 Feb 2022

By Anisha Sircar (Reuters) – Canada’s main stock index rose to a near three-month high on Wednesday, lifted by cannabis stocks, and tracking a global rally in equities on upbeat earnings and easing geopolitical tensions. At 10:02 a.m. ET (15:02 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 193.72 points, or 0.91%, at …

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Bunge profit tops expectations as crush margins boost agribusiness unit

9 Feb 2022

By Karl Plume and Arunima Kumar (Reuters) -Bunge Ltd reported a stronger-than-expected 17.1% jump in adjusted quarterly profit on Wednesday as large oilseed crops in North America and Europe and strong demand for processed meal and oil bolstered its core agribusiness unit. That strength would carry into 2022, the global farm commodities trader forecast, amid …

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Goldman Sachs raises U.S. Treasury 10-year yield forecast

9 Feb 2022

(Reuters) – Goldman Sachs said on Wednesday it was raising its forecast for the U.S. 10-year Treasury yield to 2.25% by end-2022 and to 2.45% by end-2023. Goldman’s previous forecast for the end of 2022 was 2% and its previous target for end 2023 was 2.3%. (Reporting By Sinéad Carew)

U.S. may be on ‘cusp’ of inflation slowdown, Fed’s Bostic tells CNBC

9 Feb 2022

WASHINGTON (Reuters) – The U.S. economy may be nearing a turn lower in inflation, Atlanta Fed President Raphael Bostic said on Wednesday, though he added he is still leaning towards a slightly faster pace of interest rate increases this year. “I am very hopeful we are going to start to see that decline … There …

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