Author: Press Room

Asian markets sold off on Monday on the expectation of tight US restrictions on investments in China, while European stocks rose ahead of first-quarter results from the world’s biggest tech companies this week.The region-wide Stoxx 600 added 0.3 per cent in early trading and London’s FTSE 100 fell 0.4 per cent. The moves came as Credit Suisse announced it suffered SFr61.2bn ($68.6bn) of asset outflows in the first quarter. Shares in UBS, which agreed to take over Credit Suisse last month, rose 0.1 per cent.Asian equities continued to slide, with Hong Kong’s Hang Seng index down 0.6 per cent and…

President Joe Biden’s advisers are moving quickly to finalize staffing and operational details of his reelection campaign ahead of what’s widely expected to be a bruising 19-month effort to convince the public of his accomplishments and his ability to serve well into his eighties. Biden returned to the White House late Sunday from a weekend at Camp David designed to serve as an intensive runthrough of campaign and personnel planning, including matters still requiring his final approval, people familiar with the matter said. But even as officials made final edits to an announcement video likely to be released Tuesday, marking…

Stock futures traded lower Monday amid fears the Federal Reserve will keep hiking interest rates to cool inflation, and as investors awaited earnings reports from many of the largest tech companies. These stocks were poised to make moves Monday: Bed Bath & Beyond (BBBY) has filed for chapter 11 bankruptcy protection in New Jersey district court after a series of financial maneuvers designed to turn the retailer’s business around came up short. Bed Bath stock was falling 38% in premarket trading to 18 cents. Coca-Cola (KO) is forecast by analysts to report first-quarter earnings Monday of 65 cents a share…

Financial Planner Milo Benningfield says he has a client who did something she never expected to do: rent out a room in her San Francisco house. The extra income of $15,000 to $20,000 a year, combined with a part-time job, allowed the woman to avoid drawing from her retirement savings, Benningfield says. And she ended up liking having the company of a boarder. “It made the house more of a working asset for her,” says Benningfield, who is based in San Francisco himself. Their house is the biggest financial asset for millions of retirees and empty nesters, and many are…

TOKYO — Bank of Japan Gov. Kazuo Ueda said Monday that he would continue monetary easing for the time being because he expects inflation to start slowing down soon. “Trend inflation is still below 2% so we need to continue monetary easing,” Mr. Ueda told a parliamentary committee. He said inflation would likely fall below the central bank’s 2% target in the latter half of this fiscal year ending March 2024. The… Read the full article here

© Reuters. FILE PHOTO: The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. REUTERS/Jeenah Moon (Reuters) – Nasdaq Inc on Friday said its board appointed Tal Cohen and Nelson Griggs each as presidents, formalizing the corporate structure the transatlantic exchange operator recently put in place to boost its efforts in major growth areas, like anti-financial crime software. With the appointments, Nasdaq Chief Executive Officer Adena Friedman, who was also appointed chair of the New York-based company’s board on Dec. 19, gave up the role as president, the company…

By Barani Krishnan Investing.com — U.S. rate hike and recession fears have cut into the OPEC+-hyped rally in crude, handing oil bulls their first week of losses after a four-week winning streak. New York-traded West Texas Intermediate, or , settled up 50 cents, or 0.7%, on the day at $77.87  a barrel. For the week, WTI was down 5.5%. That snapped a four-week run-up that had brought a net gain of 24% — a rally heightened by a production maneuver earlier this month by OPEC+. London-traded , the global benchmark for crude, finished up 56 cents, or 0.7%, for the…

PARIS (Reuters) – French Finance Minister Bruno Le Maire pledged on Friday to take action against food retailers if they do not pass on lower wholesale prices to consumers struggling to cope with the rising cost of living. Global wholesale food prices have been falling but French food retailers and their suppliers agreed a 10% average increase in prices in annual negotiations in March, which both sides said was necessary to cover higher production costs. Le Maire has repeatedly called in recent days on both sides to reopen negotiations to ensure that the fall in wholesale food prices is passed…

Calls to move away from relying on the U.S. dollar for trade are growing.More and more countries — from Brazil to Southeast Asian nations — are calling for trade to be carried out in other currencies besides the U.S. dollar.The U.S. dollar has been king in global trade for decades — not just because the U.S. is the world’s largest economy, but also because oil, a key commodity needed by all economies big and small, is priced in the greenback. Most commodities are also priced and traded in U.S. dollars.But since the Federal Reserve embarked on a journey of aggressive…

Credit Suisse on Monday revealed that it suffered net asset outflows of 61.2 billion Swiss francs ($68.6 billion) during the first-quarter collapse that culminated in its emergency rescue by domestic rival UBS.The stricken Swiss lender posted a one-off 12.43 billion Swiss franc profit for the first quarter of 2023, due to the controversial write-off of 15 billion Swiss francs of AT1 bonds by the Swiss regulator as part of the deal. The adjusted pre-tax loss for the quarter came in at 1.3 billion Swiss francs.related investing newsSwiss authorities brokered the controversial 3 billion Swiss franc rescue over the course of…