Author: Press Room
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Siemens Energy, the German clean energy company, reported a full-year net loss of €4.6bn on Wednesday, hours after agreeing a government-led rescue plan.The group said it was restructuring its wind turbine business, Siemens Gamesa, after confirming steep losses which it described as an “unexpected, serious setback”. The company had issued a profit warning in June.Siemens Energy said it did not expect its wind business to return to profitability until 2026, weighing heavily on group earnings even as its other divisions were expected…
WASHINGTON – The International Monetary Fund (IMF) is on the brink of finalizing an agreement with Pakistan for the disbursement of a critical $710 million loan tranche, part of a larger $3 billion Standby Arrangement aimed at bolstering the South Asian nation’s economy. IMF Managing Director Kristalina Georgieva disclosed the impending deal during a Bloomberg TV interview. The discussions between the IMF and Pakistan began on November 2, 2023, and have been rigorous, involving comprehensive reports on cyber-related crimes and potential revenue presented by Pakistan’s State Bank and Federal Board of Revenue (FBR). The talks also included technical discussions on…
Polestar 4 production starts; first customer deliveries expected before end of 2023
© Reuters. Investing.com – The U.S. dollar edged higher in early European trade Wednesday, attempting a rebound after the previous session’s sharp losses as cooling U.S. inflation raised expectations that the Federal Reserve has reached the end of its monetary tightening cycle. At 03:05 ET (08:05 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, rose 0.1% to 104.057, not far from Tuesday’s two-month low of 103.98. Weak U.S. CPI hit dollar hard The dollar was hit hard on Tuesday after data showed that U.S. were unchanged in October, while the climbed 3.2% -…
North Andover, Massachusetts, officials approved a permit Monday, allowing a Palestinian flag to be flown on the North Andover Town Common, according to reports.Boston 25 News reported that the black, white, red and green flag was raised Tuesday morning and will remain in place until Dec. 7.Residents attended a board meeting Monday night that had to be rescheduled because of reported “threats of litigation as well as public safety concerns,” both in favor and opposition of the flag being put on display on town property.GOP LAWMAKER SEEKS CURB ON NON-US FLAGS IN CONGRESS AFTER TLAIB OFFICE PICTURED WITH PALESTINIAN BANNER…
Crowd of young and elderly men and women in trendy hipster clothes. Diverse group of stylish people … [+] standing together. Society or population, social diversity. Flat cartoon vector illustrationgetty Sanessa Griffiths of Skadden, Arps, Slate, Meagher & Flom LLP discusses the lack of diversity in the tax bar and recommends ways to fix it. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International. This week: tax inclusive. Historically, the tax bar has developed a reputation for lacking in diversity. In fact,…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Train manufacturer Alstom is seeking up to €1bn in asset sales and has said it will consider a capital increase after a cash flow warning last month spooked investors and raised concerns about the French company’s debt level. Henri Poupart-Lafarge, Alstom’s chief executive, told the Financial Times the cash warning had been a “call for change” as he outlined measures to cut the group’s net debt by €2bn over the next year and a half. Alstom shares slumped by more than a third…
© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 14, 2023. REUTERS/Staff (Reuters) – European stocks rose on Wednesday as investors cheered slowing inflation across major economies, bolstering bets of an end to central bank policy tightening. Just a day after a benign U.S. inflation report supported views that the Federal Reserve may be done raising rates, fresh data showed British inflation also cooled by more than expected in October. The pan-European gained 0.5% by 0810 GMT, while UK’s rose 1%. Both the indexes hit their highest in around a…
© Reuters. AMSTERDAM – Northern Trust Asset Management (NTAM) has appointed Guido Baltussen, Ph.D., as the Head of Quantitative Strategies, International. Baltussen will operate from Amsterdam, leading NTAM’s international quantitative strategies investments and overseeing teams across Europe, Middle East, Africa (EMEA), and Asia-Pacific (APAC). His role is to enhance NTAM’s investment capabilities and provide innovative solutions for its global clients. Baltussen is set to report to Michael Hunstad, NTAM’s Deputy Chief Investment Officer and Chief Investment Officer of Global Equities. As of September 30, 2023, NTAM managed $31.7 billion in assets under quantitative strategies. Baltussen’s appointment reflects NTAM’s commitment to…
Nikada Japan (NKY:IND) +2.52% Japan’s GDP shrinks more than expected in third quarter. China (SHCOMP) +0.55%. China industrial production & retail sales rise, beats expectations in Oct; jobless rate steady at 5%. People’s Bank of China injects more cash to support the weak economy, keeps rates unchanged. Hong Kong (HSI) +3.80%. India (SENSEX) +0.91%. Australia (AS51) +1.42%. Australian Q3 Wage Price Index +1.3% q/q (vs. expected +1.3%). New Zealand data: Card retail sales -0.7% m/m in October (prior -0.8%). In the U.S. on Monday, all three major indexes ended higher, amid mounting confidence that a tightening cycle from the Fed…