Author: Press Room
© Reuters. The Nordstrom store is pictured in Broomfield, Colorado, February 23, 2017.REUTERS/Rick Wilking By Ananya Mariam Rajesh (Reuters) – Nordstrom (NYSE:) missed Wall Street targets for third-quarter revenue on Tuesday, in a sign that sticky inflation pressured consumer spending in the months leading up to the all-important holiday shopping season. Shares of the upmarket department store chain fell nearly 2% in volatile after-market trading. Fellow retailers Best Buy (NYSE:) and Kohl’s (NYSE:) have also hinted at a bleak holiday season as still-high interest rates, food prices and the start of student loan repayments prompt customers to spend less and…
© Reuters. FILE PHOTO: Argentine president-elect Javier Milei’s supporters celebrate after Milei wins the runoff presidential election, in Buenos Aires, Argentina November 19, 2023. REUTERS/Adriano Machado/File Photo By Marc Jones, Jorge Otaola and Walter Bianchi LONDON/BUENOS AIRES (Reuters) -Argentina’s black market peso fell 12% on Tuesday to 1,045 per dollar, in the first trading day after libertarian Javier Milei won the country’s presidential election, while stocks and bonds jumped on hopes of a more market-friendly economic policy. Argentina’s local markets reopened after a Monday holiday, with investors focusing on Milei’s call to slash spending after he won the weekend’s presidential…
Ideanomics GAAP EPS of -$5.19, revenue of $0.67M
© Reuters The currency pair remains restrained, trading around 0.6550 after an initial peak at 0.6589. This comes in the wake of the Reserve Bank of Australia’s (RBA) latest meeting minutes, which outlined a determined approach to raising interest rates in efforts to tackle high inflation. Despite this hawkish stance, the Australian Dollar failed to sustain gains above the 0.6560 mark. In recent developments affecting the currency landscape, data revealed that October’s US Existing Home Sales dropped to 3.79 million, underscoring challenges within the housing market. Meanwhile, minutes from the Federal Reserve’s Federal Open Market Committee (FOMC) meeting kept interest…
The influential Iowa evangelical leader Bob Vander Plaats plans to endorse Gov. Ron DeSantis of Florida for the Republican presidential nomination on Tuesday, according to a person familiar with his decision.It will be the second major endorsement Mr. DeSantis has picked up this month in Iowa, which will hold the first vote of the Republican primary season with its caucuses on Jan. 15. Kim Reynolds, the state’s popular Republican governor, announced her support two weeks ago.Mr. Vander Plaats has endorsed the last three Republicans who won contested Iowa caucuses — Mike Huckabee in 2008, Rick Santorum in 2012 and Ted…
In trading on Tuesday, shares of Macerich MAC were yielding above the 6% mark based on its quarterly dividend (annualized to $0.68), with the stock changing hands as low as $10.97 on the day. Dividends are particularly important for investors to consider, because historically speaking dividends have provided a considerable share of the stock market’s total return. To illustrate, suppose for example you purchased shares of the iShares Russell 3000 ETF (IWV IWV ) back on 5/31/2000 — you would have paid $78.27 per share. Fast forward to 5/31/2012 and each share was worth $77.79 on that date, a loss…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Binance chief executive Changpeng Zhao has pleaded guilty to violating a US banking secrecy law, as federal prosecutors unveiled sweeping accusations against the world’s largest cryptocurrency exchange. Zhao, one of the crypto industry’s most outspoken and influential leaders, entered the plea in a federal court in Seattle on Tuesday and agreed to pay a $50mn fine. Binance has also pleaded guilty to charges including conspiring to knowingly conduct an unlicensed money transmitting business and knowingly and wilfully causing the exportation of services…
(Reuters) -The U.S. Federal Trade Commission (FTC) is investigating whether Roark Capital’s purchase of Subway for $10 billion is legal under antitrust law given that the private equity firm already owns Jimmy John’s and Arby’s, Politico reported Tuesday. The probe highlights the fact that the Biden administration’s antitrust enforcers are focusing their efforts on basic consumer goods. Private equity acquisitions have been another focus. The FTC is investigating whether buying Subway would give Roark too much power in fast food, the report said, citing sources familiar with the matter. Roark controls Inspire Brands, the owner of restaurant chains including Jimmy…
© Reuters. Richard Teng, head of the Middle East and North Africa for crypto firm Binance gestures as he speaks during an interview with Reuters in Dubai, United Arab Emirates, March 30, 2022. Picture taken March 30, 2022. REUTERS/Abdel Hadi Ramahi/File Photo (Reuters) – Binance founder Changpeng Zhao said on Tuesday insider Richard Teng has been named the new chief executive of the cryptocurrency exhange.
© Reuters. FILE PHOTO: An agricultural worker operates a tractor with a seeder to sow wheat on farmland in Comodoro Py, on the outskirts of Buenos Aires, Argentina June 21, 2022. REUTERS/Matias Baglietto/File Photo By Tom Polansek (Reuters) – Argentina’s farmers may be more willing to spend money on seeds and other agricultural products, hoping that new President-elect Javier Milei’s policies will improve earnings from their future harvests, the chief executive of Argentine biotech firm Bioceres said on Tuesday. Milei’s election and recent rains are fueling optimism among some in Argentina’s agribusiness sector after the country struggled with a historic…