Author: Press Room

© Reuters. FILE PHOTO: The New York Stock Exchange (NYSE) in New York City, U.S., February 24, 2022. REUTERS/Caitlin Ochs/File Photo (Reuters) – U.S. stock index futures slipped on Monday, as investors turned wary ahead of a slew of economic data this week that is likely to test the narrative about a cut in interest rates by the Federal Reserve early next year. Wall Street kicked off December on an upbeat note, extending gains from the previous month that were driven by robust earnings and expectations that the Fed was done with its rate hiking campaign. The benchmark registered its…

Current S&P 500 valuation is not leaving ‘any margin for error’ – JPMorgan The consensus among “almost all economists” and the market supporting a soft landing leaves “any margin for error,” according to JPMorgan’s strategists. “Crucially, unlike a year ago, when almost all economists and the market pricing had recession as a base case, both are in a soft landing camp now – perhaps one should be contrarian yet again,” the analysts said in a client note. The banking titan anticipates that 2024 earnings projections are likely to move lower, while bond yields may have peaked. The analysis factors in…

2/2 © Reuters. President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan attends a meeting with Secretary-General of the United Nations Antonio Guterres, within the United Nations Climate Change Conference (COP28), in Dubai, United Arab Emirates, December 2/2 By Simon Jessop, Maha El Dahan and Hadeel Al Sayegh DUBAI (Reuters) -Money pledges grabbed the spotlight again at COP28 in Dubai on Monday as delegates turned their focus to the yawning gap in the need for climate finance and what’s on offer. The United Arab Emirates, the host of this year’s conference, pledged $270 billion in green finance…

Stephen Chernin Stock index futures were lower Monday with attention now firmly on when the Fed will pull the trigger on rate hikes. S&P futures (SPX) -0.3%, Dow futures (INDU) -0.3% and Nasdaq 100 futures (NDX:IND) -0.4% edged down. “All roads this week point to payrolls on Friday with the usual build up via JOLTS (tomorrow) and ADP (Wednesday). Elsewhere in the US the Services ISM is out tomorrow (we will also watch the employment sub component ahead of payrolls), and the initial read on inflation expectations in the University of Michigan confidence sentiment release (Friday) will be of note…

© Reuters. Argentine President-elect Javier Milei walks down the steps of the Eisenhower Executive Office Building after meeting with Biden adminstration staff at the White House complex in Washington, U.S., November 28, 2023. REUTERS/Kevin Lamarque By Jorgelina do Rosario BUENOS AIRES (Reuters) – Argentina’s incoming government aims to strike a trade agreement between the European Union and Latin American economies, the country’s future Foreign Minister Diana Mondino told Reuters, as a deal under the current administration looks increasingly unlikely. Mercosur members Brazil, Argentina, Uruguay and Paraguay are set to gather on Dec. 7 in Rio de Janeiro and Brazilian President…

Purdue Pharma and the wealthy family that controlled it are forever linked to the deadly opioid epidemic, which has left hundreds of thousands of people dead.But their role in the public health crisis is not the central question that the Supreme Court will wrestle with on Monday when it hears arguments over a bankruptcy settlement involving Purdue, the maker of the highly addictive painkiller OxyContin.Instead, the justices will focus on a narrower issue: whether the plan, devised to address the thousands of claims brought by state and local governments, tribes, hospitals and individual victims, can give wide-ranging legal protections to…

World in Handgetty How much global offshore tax evasion exists? It’s a difficult number to pin down. One thing some parties can agree on — from academics to civil society — is that the OECD’s exchange of information frameworks, especially its automatic exchange of information (AEOI) standard, has reduced banking secrecy over the past several years. Recently, the EU Tax Observatory calculated that offshore tax evasion has decreased by a factor of nearly three in less than a decade because of AEOI. Now, only a quarter of offshore household wealth evades taxation, the report says. The IMF reached a similar…

Stay informed with free updatesSimply sign up to the Energy sector myFT Digest — delivered directly to your inbox.Narratives are funny things. When they’re strong almost everything seems to strengthen them further, and then all of a sudden they collapse under the weight of accumulated contrarian evidence. Inflation and “greenflation” is a good example. Only a year ago, combatting climate change was widely expected to pour more fuel on runaway inflation. And it wasn’t just the usual doom-mongers. Even the ECB was taking the threat seriously.Now, this is obviously not a wholesale repudiation of the whole greenflation narrative, but take…

© Reuters. FILE PHOTO: European Central Bank (ECB) Vice-President Luis de Guindos arrives at the Presidential Palace for a meeting with Cyprus President Nikos Christodoulides in Nicosia, Cyprus, October 4, 2023. REUTERS/Yiannis Kourtoglou/File Photo MADRID (Reuters) – Recent inflation data was “good news” and “a positive surprise”, but any future decisions on monetary policy would have to depend on the reality on the ground, ECB Vice-President Luis de Guindos said on Monday. Euro zone inflation tumbled to 2.4% last month, coming well below expectations for the third straight month, fuelling market bets that European Central Bank interest rates will come…

© Reuters. Spotify (SPOT) to cut headcount by 17% as growth slows; Shares gain Spotify (NYSE:) shares rose more than 2% in pre-market trade on Friday after the company announced it will cut approximately 17% of its total workforce. In an update on the company’s website, CEO Daniel Ek said the decision marks “a significant step change for our company.” “To align Spotify with our future goals and ensure we are right-sized for the challenges ahead, I have made the difficult decision to reduce our total headcount by approximately 17% across the company,” he said in a post. According to…