Author: Press Room

(Bloomberg) — Beleaguered US regional banks are assessing whether bond sales to replace lost deposits are worth the cost, as credit investors weigh whether they’re worth the risk. The arrival of quarterly bank earnings reports on Friday has spurred speculation on which financial institutions will brave an unpredictable bond market. Average corporate note yields jumped above 6% in the past 12 months and still remain above 5%, more than a percentage point higher than the year-ago period. Commercial bank deposits have shrunk for the last 10 weeks, as consumers and companies have moved cash into higher-yielding assets like money market…

By Barani Krishnan Investing.com — It’s probably going to happen, whether the bears in gold like it or not. Gold kept up Thursday with its trend of making “mini highs” en route to what could soon be an all-time peak to rewrite the record highs from August 2020. on New York’s Comex settled at $2,055.30 an ounce, up $30.40, or 1.5%, on the day. The session high was $2,063.15 — less than $16 short of the all-time high of almost $2,080 set by Comex gold in August 2020. The , more closely followed than futures by some traders, got to…

By Samuel Indyk and Ankur Banerjee LONDON (Reuters) – The dollar slipped on Tuesday after better-than-forecast growth data from China, while upbeat pay data from Britain supported the pound. China’s gross domestic product (GDP) grew 4.5% year-on-year in the first three months of the year, data showed on Tuesday, beating analyst forecasts for a 4% expansion as the end of COVID-19 curbs lifted the world’s second-largest economy out of a slump. Separate data on March activity also released on Tuesday showed retail sales growth quickened to 10.6%, beating expectations and hitting a near two-year high, while factory output growth also…

By Tatiana Bautzer and Mehnaz Yasmin (Reuters) – Citigroup Inc (NYSE:)’s first-quarter profit beat Wall Street expectations as it earned more from borrowers paying higher interest on loans. While its net interest income rose 23% to $13.3 billion, Citi also set aside $241 million to cover potential loan losses, from $138 million a year earlier, according its results reported on Friday. Citi earned $1.86 per share in the first quarter, beating analysts’ average estimate of $1.67, according to Refinitiv data. Shares were up 4.2% in afternoon trading. Citigroup joined other banking giants, JPMorgan Chase & Co (NYSE:) and Wells Fargo…

Gambling business Entain’s share price rose on Tuesday after it reported a “strong start” to the new year. At £13.62 per share the FTSE 100 stock was last trading 4.4% higher on the day. Entain — which operates brands including bwin, Ladbrokes and Coral — said that net gaming revenues (NGRs) rose 15% during the first quarter. At constant currencies revenues increased 11% year on year. Including contributions from its BetMGM joint venture in the US, first quarter NGRs increased 17% at stable exchange rates. Broad-Based Strength Online NGRs at Entain rose 16% between January and March, or 11% at…

Low-cost airline easyJet watched its share price rise on Tuesday as it hiked earnings guidance for the full year. At 523.p per share easyJet shares were last trading 3% higher on the day. The budget operator said that it expects pre-tax losses to range between £405 million and £425 million for the six months to March. This is down from the loss of £545 million it recorded a year earlier. It said that solid first-half trading had been “driven by self-help measures including network optimisation, improved ancillary products, and a continued cost focus which allow us to fully benefit from…

If you plan to file your federal income tax return today, you’re not late—yet. If your return is in good shape, you still have time to submit it by the deadline. Extension If you’ve clicked over hoping that I’ll offer you the tax prep equivalent of magic beans, I’ll stop you right now—that doesn’t exist. If you’re not ready to file your return, there’s no need to scramble—simply file for an extension. Some folks don’t have to file for an extension, as they’re granted automatically: U.S. citizens and resident aliens who live and work outside of the U.S. and Puerto…

Earth Day will be celebrated this year on Saturday, and it brings some good news for environmental advocates: Homeowners are starting to prioritize sustainability in their new construction and renovation projects, as observed in the latest American Society of Interior Designers report, published in February. For many years, this aspiration frequently gave way to budget constraints, as so many of the products that supported the goal of a healthier planet cost more for purchasers weighing many competing project needs. Perhaps because of more mainstream media coverage, more natural disasters linked to climate change, or a growing number of Millennial homeowners,…

Four of the five largest metropolitan areas with the lowest unemployment rates are in Florida, according to the latest data from the Bureau of Labor Statistics (BLS). Based on the BLS’ calculations of large metropolitan statistical areas — which the agency defines as having had at least 1 million residents as of the 2010 Census — four of the top five metro areas in terms of lowest unemployment rate were in the Sunshine State and all five were in the southern U.S.The Miami metropolitan area, which includes Fort Lauderdale and West Palm Beach, was tied for the lead with a…

Britain could introduce specific laws aimed at regulating the cryptocurrency industry in the next 12 months, a top lawmaker told CNBC.The U.K. government laid out plans in February to regulate crypto assets and opened its suggestions up for consultation. The consultation period ends Apr. 30.Andrew Griffith, economic secretary to the U.K. Treasury, said in an interview on Monday that specific crypto regulation could come into force within a year or so.”We’ve got control back of our rulebook, not something the U.K. has had for decades,” Griffith told CNBC, referring to Britain’s exit from the European Union.”So we’ve got the ability…