Author: Press Room
By Yasin Ebrahim Investing.com — Economic activity was little changed in recent weeks, though there were signs that was cooling just as the recent banking turmoil sapped lending activity, according to the Federal Reserve’s released Wednesday. “Overall economic activity was little changed in recent weeks, [with] expectations for future growth were mostly unchanged,” the Fed said in its Beige Book economic report, based on anecdotal information collected by the Fed’s 12 reserve banks through Apr. 10. Following the recent turmoil in banking, meanwhile, “lending volumes and loan demand generally declined across consumer and business loan types,” the report said. “Several…
Coca-Cola (NYSE: KO) will report its Q1 2023 results on Monday, April 24. We expect KO stock to trade sideways, with revenue and earnings meeting the consensus estimate. While the company should continue to benefit from pricing actions, forex headwinds may affect overall performance. Also, our forecast indicates that KO stock is appropriately priced, as discussed below. Our interactive dashboard analysis of Coca-Cola Earnings Preview has additional details. (1) Revenues expected to be in line with the consensus estimates Trefis estimates Coca-Cola’s KO Q1 2023 revenues to be around $10.8 billion, reflecting a low single-digit y-o-y growth and aligning with…
The latest U.S. economic data suggests a recession is coming, according to the chief executive of financial advisory firm Longview Economics, and investors may need to prepare for some pain in the stock market.Speaking to CNBC’s “Squawk Box Europe” on Friday, Chris Watling said he believed a recession was on its way, citing what he described as “pretty compelling” and “brutally bad” leading economic indicators.related investing newsThe Conference Board on Thursday said its Leading Economic Index for the U.S. fell by 1.2% in March, slipping to its lowest level since November 2020. The data appeared to indicate that economic weakness…
Investors representing more than 4.5 billion Swiss francs ($5 billion) of Credit Suisse bonds have sued the Swiss financial regulator over its decision to wipe out their investments during last month’s emergency government-orchestrated takeover. Law firm Quinn Emanuel Urquhart & Sullivan, which is representing the bondholders, said Friday the move was the first in a series of steps to seek redress for clients it said had been unlawfully deprived of their property rights during the takeover of Credit Suisse (CS) by bigger rival UBS (UBS). It is the first major lawsuit in the public domain to be filed over Switzerland’s…
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Crypto investment is being blamed for a spike in the number of South Korean people aged 20-39 declaring insolvency.Per Maeil Shinmun, the Seoul Rehabilitation Court said:“The rise in [insolvency] seems to have been influenced by a growth in economic activities such as cryptocurrency and stock market investment among young people.”The court remarked that the problem was particularly pronounced in those “under the age of 30.”The 20-39 age demographic is commonly referred to as “2030” in South Korea.Under South Korean law, individuals can apply to the judiciary for “personal rehabilitation” status.This is a legal system that allows individuals who cannot repay…
TikTok transformed music discovery, helping new and older songs chart on the Billboard 100. Now, the company is pushing into other areas of the music business, including signing artists. Its music ambitions could ruffle feathers at record labels and publishers — unless it pays out. This story is part of a series examining TikTok’s influence on the entertainment business. Welcome to the era of CultureTok.”Is TikTok trying to be a record label?”That question caused Ole Obermann, TikTok’s global head of music, to pause for several seconds in September as he sat for an interview before a room of music professionals…
Rakuten Bank shares surged 40 per cent in the company’s debut on Friday, marking Tokyo’s biggest initial public offering since the listing of SoftBank’s mobile unit in 2018.The internet bank, which is Japan’s largest by number of customers and has been spun out of Rakuten, the country’s biggest ecommerce company, raised $625 million in an IPO after lowering its valuation ahead of the listing.Bankers running the IPO at Daiwa Securities faced a range of challenges from investors, who questioned the valuation and ultimately forced Rakuten to trim its ambitions for the share sale, said people with direct knowledge of the…
President Joe Biden will announce new environmental justice actions at the White House on Friday morning, surrounded by climate and environmental justice advocates, according to a White House official. Biden will sign a new executive order that will make environmental justice a central mission of “every single executive agency,” per the the official. The executive order, which will still be up to agencies to implement, will also create a new Office of Environmental Justice inside the White House Council on Environmental Quality. Biden’s announcements come as many climate and environmental justice groups have been frustrated at the administration’s recent approval…
The optimism sparked a week ago by better-than-expected results from some of U.S. banking’s big beasts has faded. The first quarter earnings season now might generously be described as mixed. If news on corporate profits can’t push the S&P 500 SPX, -0.60% through the top of its five-month range between 3,800 to 4,200 then bulls may soon start re-focusing on macroeconomic factors for support — specifically a boost to sentiment from a belief the Federal Reserve is finished raising interest rates and will start cutting soon. But is this Fed-pause-and-cut rally narrative realistic? Analysis from Wells Fargo and Evercore ISI…
