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The struggles of one of the newest members of the S&P 500 index continued Thursday, despite stronger-than-expected earnings results.
The country is testing the currency in different pilots.
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ProPublica published details of the leaked tax returns of 25 of the wealthiest Americans, showing that most payed little to nothing in income tax.
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Huawei Chief Financial Officer Meng Wanzhou on Monday will seek to bar publication of documents her legal team received from HSBC, a request opposed by Canadian prosecutors in her U.S. extradition case who say it violates the principles of open court. Meng's legal team will present arguments in support of the ban in the British Columbia Supreme Court. Meng, 49, was arrested at Vancouver International Airport in December 2018 on a warrant from the United States, where she faces charges of bank fraud for allegedly misleading HSBC about Huawei Technologies Co Ltd's business dealings in Iran and potentially causing the bank to break U.S. sanctions on business in Iran.
Stock futures traded lower Monday evening to give back some gains from the regular session, when both the Nasdaq and S&P 500 eked out record closing highs.
(Bloomberg) -- After the best year for hedge funds in a decade, promising traders can seek a place at the many major firms on a hiring spree or strike out on their own to seize on investor appetite.But a push by Schonfeld Strategic Advisors is a prominent example of a lucrative third option. The firm is dangling a hefty cut of profits as part of a foray into macro trading, taking a page out of the books of industry giants Citadel and Millennium Management.The pitch has already won over hedge fun
(Bloomberg) -- Saks, newly minted as a standalone e-commerce business that’s separate from the Saks Fifth Avenue department stores, is adding NBA star James Harden to its board.Harden, who plays for the Brooklyn Nets and has led the league in scoring three times, is also making a minority investment in Saks. His business portfolio spans several consumer categories, including products with BodyArmor drinks, Stance socks and Pura fragrances. He also has a sneaker and apparel line with Adidas.“I’ve
(Bloomberg) -- The size and type of defaults that have occurred in China in recent times indicate that the notion of “too big to fail” may no longer apply to the nation’s borrowers, according to Goldman Sachs Group Inc.There has been a noticeable up-tick in defaults by Chinese state-owned enterprises since late 2019 and some of the borrowers that have failed to repay debt recently such as China Fortune Land Development Co. have had large amounts of outstanding bonds, analysts including Kenneth H
EV Aircraft company Vertical Aerospace announced last week that they would go public via a SPAC merger.
The good thing is that inflation may be nearing a peak. The bad thing is that everything is still costing you more. Here are the simple reasons why.
Gold traders will closely scrutinize the Fed’s evolving outlook on unemployment, inflation, economic growth and when it may start raising rates.
(Bloomberg) -- Members of the Walton family have sold 16.7 million shares of Walmart Inc. this year as they try to keep their stake in the world’s biggest retailer from ballooning amid the company’s stock buybacks.The Walton Family Holdings Trust sold $430 million worth over the past week, taking their total sales to almost $2.1 billion since Jan. 1, according to Securities and Exchange Commission filings. The notifications were filed on behalf of second-generation family members Alice, Rob and
(Bloomberg) -- Hedge funds are bullish on the Australian dollar, and two key events this week may vindicate their convictions.Australian jobs data and a speech by central bank Governor Philip Lowe could provide the trigger for the Aussie to rise above 78 U.S. cents before it encounters resistance at 80 cents. Leveraged funds hold a net long position of 20,509 contracts in the currency in the week ended June 8, according to data from the Commodity Futures Trading Commission.The Aussie has been la
Stocks traded sideways on Monday in a muted start to the week, as traders awaited a key monetary policy decision from the Federal Reserve.
(Bloomberg) -- Wall Street’s pandemic-era trading boom could be drawing to a close, with JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon signaling a 38% decline in trading revenue from a year ago -- a bigger drop than previously expected.Trading revenue at the largest U.S. bank will drop to just north of $6 billion in the second quarter, Dimon said Monday at a Morgan Stanley virtual conference. That tally could end up lower than the already reduced average analyst estimate of $6.5 billi
(Bloomberg) -- Mark Spehn couldn’t join billionaire Idan Ofer at his seaside villa north of Tel Aviv for a party on June 8 to mark the initial public offering of Zim Integrated Shipping Services Ltd. But the 35-year-old Deutsche Bank Group AG trader still had much to celebrate from his desk in London.Spehn’s long-shot bet on the once-distressed Israeli shipping company has put the German lender on track for one of its biggest wins since its “Big Short” trades against U.S. subprime securities mor
Global stock markets were mixed while U.S. Treasury yields ticked up on Monday, as investors waited for the results of a Federal Reserve policy meeting before making any major new bets. The continued hope for a rapid economic comeback put wind in the sails of oil markets as investors anticipated surging travel demand, while safe-haven gold dipped. Benchmark 10-year yields rose 4 basis points on Monday to 1.50%, mounting a bit of a comeback after falling to a three-month low of 1.43% on Friday.
Australia's central bank signaled on Tuesday its willingness to extend its bond purchase programme next month and laid out various options for the plan with the aim of meeting its goals of boosting employment and inflation. Minutes of the Reserve Bank of Australia's (RBA) June policy meeting showed members discussed tapering and even ceasing its massive quantitative easing campaign when the current A$100 billion ($77 billion) round expires in September. This is the first time the Reserve Bank of Australia (RBA) laid out how it might revise its bond buying campaign.
(Bloomberg) -- Gold declined to near the lowest level in four weeks as the U.S. dollar and bond yields rebounded ahead of a key Federal Reserve meeting.The yield on 10-year Treasuries steadied following a rise to 1.49% on Monday after hitting three-month lows on Thursday. This damped the appeal of the non-interest-bearing precious metal. Investors will be looking to the Fed gathering, which starts Tuesday, for signals on a timeline for paring down emergency stimulus.Bullion’s retreat from the hi