Author: Press Room
© Reuters. FILE PHOTO: The Federal Reserve building is seen in Washington, U.S., January 26, 2022. REUTERS/Joshua Roberts/File Photo By Jamie McGeever ORLANDO, Florida (Reuters) – Hedge funds look to be scaling down their record short position in U.S. Treasury futures, marking the beginning of the end of the so-called ‘basis trade’ – an unwind that regulators have warned could pose severe financial stability risks. With the Federal Reserve expected to begin cutting interest rates next year, perhaps as early as March, attention will intensify on the reversal of the lucrative trade for hedge funds when rates were rising. The…
© Reuters. Methode Electronics (ticker: NYSE:), a leading manufacturer of component and subsystem devices, reported a 9% decrease in second-quarter fiscal 2024 sales, totaling $288 million. This decline was primarily due to program roll-offs, delayed sales in China as a result of COVID-19 disruptions, a softer e-bike market, and the impact of the UAW strike. Despite the challenges, the company maintains a positive outlook for fiscal 2025, driven by a focus on electric vehicle (EV) programs and market growth. However, Methode has adjusted its fiscal 2025 guidance downward in response to program delays and evolving market trends in the EV…
© Reuters. Climate activists protest against fossil fuels at Dubai’s Expo City during the United Nations Climate Change Conference COP28 in Dubai, United Arab Emirates, December 8, 2023. REUTERS/Thomas Mukoya/ File photo By William James and Elizabeth Piper DUBAI (Reuters) – The U.N. climate agency published a new draft of its COP28 agreement on Friday which included a range of options for the future of fossil fuel use, the most contentious issue at the summit. Over the next few days countries are expected to focus on the issue in hopes of reaching a consensus before the summit’s scheduled end on…
Columbia Seligman Premium Technology Growth Fund declares $0.2669 special dividend
In Republican politics, being likened to a prominent Democrat like Hillary Clinton may well be among the highest of insults.Some G.O.P. presidential hopefuls and their allies are seizing on that comparison to denounce Nikki Haley, the former governor of South Carolina who has gained momentum in the primary race. During the Republican debate in Alabama on Wednesday, for example, the entrepreneur Vivek Ramaswamy criticized Ms. Haley for giving “foreign multinational speeches like Hillary Clinton.”In particular, though, supporters of Gov. Ron DeSantis of Florida have leveraged that line of attack, including in advertisements by a pro-DeSantis super PAC, Fight Right. But…
There were 199,000 US jobs added in November.The unemployment rate dropped in November.A separate data release showed US job openings this past October were at the lowest figure since March 2021. 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 The US added 199,000 jobs in November according to the Bureau of Labor Statistics’ latest employment report.The forecast for nonfarm payroll employment growth was 180,000. November’s growth beats October’s growth.October’s growth was not revised. It was still a gain of 150,000 per the latest report.…
Stay informed with free updatesSimply sign up to the UK property myFT Digest — delivered directly to your inbox.Britain has issued more than 120 financial penalties to offshore companies that have failed to comply with transparency legislation designed to uncover illicit wealth hidden in the UK property market.The Register of Overseas Entities was created after Russia’s invasion of Ukraine to help the UK government crack down on oligarchs and other kleptocrats.Individuals that own British property through offshore vehicles had until the end of January 2023 to register such entities and publicly reveal their ownership at Companies House.Fines for failing to…
BRUSSELS – European Union finance ministers have endorsed Nadia Calviño as the next president of the European Investment Bank (EIB), set to take office on January 1, following the conclusion of Werner Hoyer’s term on December 31. Calviño’s vision for the EIB includes a strong commitment to funding green transition projects, rebuilding efforts in Ukraine, and bolstering Europe’s global influence. The endorsement, which occurred today, marks a significant step in the leadership transition at one of Europe’s key financial institutions. Calviño, who awaits formal appointment confirmation, has outlined an ambitious agenda that aligns with the EU’s strategic priorities in sustainability…
© Reuters. RH (RH) shares tumble as ‘frozen’ housing market weighs on results RH (NYSE:) shares tumbled more than 7% premarket Friday after the company missed third-quarter earnings and revenue estimates. The company posted a loss per share of ($0.42), $1.37 worse than the analyst estimate of a $0.95 profit per share, while revenue for the quarter came in at $751 million, below the consensus estimate of $756.73 million and down from the $869 million reported last year. Its adjusted operating margin of 7.3% was also slightly below expectations due to higher than anticipated expenses, including international openings and costs…
© Reuters. FILE PHOTO: A logo is seen at the World Trade Organization (WTO) headquarters before a news conference in Geneva, Switzerland, October 5, 2022. REUTERS/Denis Balibouse (Reuters) – The European Union is considering reopening a case at the World Trade Organization against the United States over a steel and aluminum dispute that saw the allies hit each other with tariffs on more than $10 billion of goods, Bloomberg News reported on Friday, citing people familiar with the matter. The EU will, however, refrain from immediately reimposing retaliatory tariffs on American goods over the disagreement, the report said.