Author: Press Room

Elon Musk told the BBC that reports about him being a “horrible person” have been “hurtful.” He also clashed with the reporter about misinformation on Twitter. Musk went on to speak about the importance of free speech and holding power to account. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Elon Musk spoke about how media coverage of him had been “rough” and “hurtful” during a 90-minute interview with the BBC that was live-streamed on Tuesday night from Twitter’s San Francisco office. “I’ve been under…

US stocks advanced on Thursday after cooler than expected inflation data boosted traders’ hopes that the Federal Reserve could tap the brakes on its tightening cycle.The blue-chip S&P 500 rose 1.3 per cent in New York, closing at its highest level since February 15. The tech-heavy Nasdaq gained 1.9 per cent.Traders were encouraged by data showing a cooling of the US economy, as producer prices unexpectedly fell 0.1 per cent in March, which could signal relief for consumers who have had higher operating costs passed on to them. New jobless claims data showed the number of people filing for unemployment…

Former President Donald Trump is asking a judge to delay a columnist’s assault and defamation trial set to being later this month after learning that a billionaire who has donated to Democratic causes has paid for some of the accuser’s legal fees. Read the full article here

U.S stock indexes turned lower in the final hour of trade Wednesday, reversing earlier gains after minutes from the Federal Reserve’s March policy meeting showed policymakers projected the U.S. economy will fall into a “mild recession” later this year as banking stress continues to rattle financial markets. The Dow Jones Industrial Average shed 47 points, or 0.1%, to 33,633. The S&P 500 lost 0.4%, while the Nasdaq Composite dropped 0.7%. Federal Reserve officials, meeting days after the collapse of Silicon Valley Bank, agreed that the stress in the banking sector would slow U.S. economic growth, but were uncertain… Read the…

Gold prices settled Monday at their lowest in a week, but held above $2,000 an ounce amid a bout of what some precious-metals analysts have described as “profit-taking.” A stronger U.S. dollar also weighed on the yellow metal. Price action Market drivers Gold prices rose last week for the sixth week in a row. But prices declined Monday, down a third straight session, as global markets were caught in a post-Easter lull, with much of Europe still out. Monday’s… Read the full article here

Some things are a mystery. For millions of Americans, their credit scores are one such baffling phenomenon, but there’s no reason why they should remain so. Why, for example, do people have bad credit scores, despite managing their finances, and never going into the red, while other people who take more financial risks have excellent credit?… Read the full article here

Treasury yields finished mostly lower on Wednesday, after minutes of the Federal Reserve’s last meeting discussed the possibility of a mild recession later this year and data showed U.S. consumer prices rose more slowly in March. What happenedWhat drove markets Minutes of the Federal Reserve’s March policy meeting showed that policy makers were keenly worried about the impact of banking-sector stress on the economy, and that Fed staff projected a mild recession starting later this year. Mary Daly, head of… Read the full article here

© Reuters Catalent valuation path increasingly clear, Moderna partnership renewal strategically important – Deutsche Bank By Sam Boughedda Catalent (NYSE:) was upgraded to Buy with its price target raised to $88 from $79 at Deutsche Bank on Monday. The analysts there believe Catalent’s valuation path is increasingly clear, with the firm now having even more conviction in its 2023/2024 estimates. They also see a “diminishing tail risk due to strengthening strategic partnerships and increased management accountability and ownership.” “We acknowledge the stock’s outperformance +44% vs the +7% ytd; however, we still see a 2.5-to-1 positive risk/reward skew for the stock under…

By Shariq Khan BENGALURU (Reuters) -Oil prices edged lower on Thursday, after scaling multi-month high levels in the previous session, weighed by fears of a looming recession in the United States and warnings from the OPEC group about hits to summer oil demand. fell 85 cents, or 1%, to $86.48 a barrel by at 1:41 p.m. EDT (1741 GMT). U.S. West Texas Intermediate (WTI) slipped 73 cents, or 0.9%, to $82.53 a barrel. Brent and WTI rose 2% on Wednesday to their highest in more than a month as cooling U.S. inflation spurred hopes that the U.S. Federal Reserve will…

By Leika Kihara TOKYO (Reuters) – New Bank of Japan Governor Kazuo Ueda’s main challenge will be to phase out yield curve control (YCC), which has come under criticism for distorting markets by keeping long-term interest rates from rising. Under YCC, the BOJ targets short-term interest rates at -0.1% and the 10-year government bond yield at 0.5% above or below zero, in an effort to sustainably achieve 2% inflation. Here is how Japan’s YCC works and its potential pitfalls. WHY YCC? After years of huge bond buying failed to fire up inflation, the BOJ cut short-term rates below zero in…