Author: Press Room
Shopify Inc. beat profit expectations for the latest quarter and projected margin improvement for the current one, but the company’s disclosures on expenses seemed to be worrying Wall Street. Shares of Shopify SHOP, -1.37% SHOP, -0.99% were off more than 10% in Tuesday morning action after the company, which enables businesses to run online shops, said that it expects operating expenses to grow relative to what was seen in the fourth quarter. That rise is expected to be, on a percentage basis, somewhere in the low teens. “Contrasting to some of management’s commentary from the recent analyst day regarding expense…
The numbers: Home-builder confidence rose in February, with the industry expecting the Federal Reserve to cut interest rates later this year, which could boost demand for homes. Expectations about a potential rate cut and a drop in mortgage rates in the coming months pushed the National Association of Home Builders’ monthly confidence index up 4 points to 48 in February, the trade group said on Thursday. The index is up for the third month in a row and is at its highest level since August 2023. The February figure exceeded what economists were forecasting on Wall Street, which was expecting…
By Melanie Burton and Rishav Chatterjee MELBOURNE (Reuters) -Fortescue will work with Chinese authorities to resolve the delays keeping some of its iron ore cargoes from clearing customs, a company official said on Thursday. The comments on the Chinese customs delays came during a conference call discussing the world’s fourth-largest iron ore miner’s quarterly production, which largely met analyst expectations. Responding to a question on whether the company was expecting more customs checks on its iron ore cargoes to China, Vivienne Tieu, Fortescue’s director of sales, marketing and shipping, said, “We will just work through with the relevant port authorities…
By Jamie McGeever ORLANDO, Florida (Reuters) – An engine of world growth for 20 years, the largest consumer of commodities and world’s number two economy has somehow slipped into “alternative investment” buckets for many global investors. China’s property bust and increasingly interventionist government, along with deepening geopolitical fissures with the United States, have dramatically dimmed its allure as a destination for international capital. China may not yet be “uninvestable”, as U.S. Commerce Secretary Gina Raimondo suggested U.S. companies believe, but many investors are recategorizing their reduced exposure – in some cases to alternative investment. “Alts” are typically assets outside the…
When a large, unexpected expense crops up, you don’t want to increase the cost by using a less-than-optimum way to raise the needed cash. Explore the options and select the best one for you. An unexpected cash need can spring from medical treatment, home repairs, taxes, and help for family members, among others. Of course, you could sell an investment or take a traditional IRA distribution. But those actions could trigger taxes, increasing the total cost. When you need to raise a significant amount of cash in a hurry without incurring income taxes, the two best options usually are a…
France’s suggestion that Ukraine’s allies could potentially send ground troops into Ukraine has caused indignation and outrage in Russia, with officials warning that it could provoke a direct conflict between Russia and NATO member states.Eyebrows were raised Monday when French President Emmanuel Macron suggested that European heads of state and Western officials, who met in Paris on Monday, had talked about the possibility of sending ground troops into Ukraine.”There is no consensus today to officially, openly, and with endorsement, send troops on the ground. But in terms of dynamics, nothing should be ruled out. We will do everything necessary to…
Hybrid vehicles led the 2024 top vehicle rankings released Tuesday by influential product testing organization Consumer Reports.Such “electrified” vehicles, including plug-in hybrid models, represented six of the top 10 picks by the nonprofit consumer organization. The non-hybrid models rounding out the list were the all-electric Tesla Model Y crossover and three gas-powered vehicles with no hybrid variants.It marks the second consecutive year that seven electrified or fully electric vehicles have been included in Consumer Reports’ top picks, as automakers release numerous models of the vehicles to meet consumer demand as well as tightening federal fuel economy regulations.Toyota Motor had the…
Americans’ attitudes toward the economy soured in February after a three-month streak of improving moods, according to The Conference Board’s latest consumer survey released Tuesday. The survey’s index fell in February to 106.7, down from a reading of 110.9 in January. Americans became less worried about rising food and gas prices, but more concerned about the job market, the survey showed. “The drop in confidence was broad-based, affecting all income groups except households earning less than $15,000 and those earning more than $125,000,” Dana Peterson, chief economist at The Conference Board, said in a release. “Confidence deteriorated for consumers under the…
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Last updated: February 27, 2024 10:13 EST | 2 min read The Grayscale Bitcoin Trust (GBTC), the world’s largest Bitcoin exchange-traded fund (ETF), has seen continued outflows for an entire month. According to Bloomberg data, GBTC witnessed $7.4 billion exiting the fund across 31 consecutive trading days as of Monday.This stands in stark contrast to the other nine newly launched spot Bitcoin ETFs, which have all experienced net inflows since their inception.Why Did GBTC See Significant Outflows?Several factors have contributed to Grayscale’s continued outflows. While GBTC remains the largest and most actively traded Bitcoin ETF, its 1.5% management fee makes it the most…
