Author: Press Room
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A lacklustre performance from its retail bank dragged on Société Générale’s revenues in the third quarter, highlighting the challenges facing new chief executive Slawomir Krupa as he tries to reset the fortunes of France’s third-largest lender. A more resilient showing in SocGen’s investment bank compared with several European peers offset some of the pain, providing one bright spot for Krupa as he attempts a reboot after years of restructurings.The group’s overall revenue was down 6.2 per cent to €6.2bn in the quarter,…
The Central Bank of Kenya (CBK), under the guidance of Governor Dr. Kamau Thugge, is advancing reforms to establish Kenya as a green finance hub. This initiative follows the 2021 Guidance on Climate-Related Risk Management and is part of the second phase of reforms on these guidelines. The CBK aims to assist commercial banks in integrating climate risks into their governance and risk management strategies. The central bank’s move was announced at the inaugural Africa Climate Business Forum, which followed the Africa Climate Summit. The CBK is developing a green finance taxonomy to classify sustainable initiatives, investments, and projects. This…
Booking shares drop 4% despite Q3 beat (Updated – November 3, 2023 6:33 AM EDT) Booking Holdings (NASDAQ:) shares fell 4% in pre-market Friday despite the company reporting better-than-expected Q3 results. EPS came in at $72.32, compared to the consensus estimate of $67.78. Revenue grew 21% year-over-year (up 18% on a constant-currency basis) to $7.3 billion, beating the consensus estimate of $7.26B. Gross travel bookings were $39.8 billion in Q3, representing an increase of 24% year-over-year (up 21% on a constant-currency basis). Room nights booked rose 15% year-over-year. “We are pleased to report record quarterly room nights, gross bookings, revenue,…
© Reuters. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. REUTERS/Brendan McDermid A look at the day ahead in U.S. and global markets from Mike Dolan Markets are betting central banks are done hiking interest rates, inflation is falling and corporate earnings are robust – and they now have just one more hurdle to clear to complete what’s set to be the best week of 2023. The U.S. October employment report out later on Friday caps a hectic two weeks of central bank decisions, company updates and unnerving…
Ab Tax-Aware Short Duration ETF declares monthly distribution of $0.0682
The currency pair is looking to end a three-week losing streak, with early trading today seeing the pair slightly lower at $0.5890/95, a narrow range below $0.59 due to softer US equity futures. Despite this minor setback, the pair has been extending gains for the third day in a row, nearing a two-week high above 0.5900. The recent surge has been driven by a selling bias in USD and upbeat equity markets. A comfortable breach of the 20-Day EMA ($0.5875) has set bullish traders’ targets at the November 2 high ($0.5917) and $0.60 handle, while bears are targeting the 20-Day…
YORKTOWN, Va. – EXCLUSIVE – Republican Gov. Glenn Youngkin is donning the red vest once again, in the final stretch on the campaign trail ahead of Tuesday’s crucial legislative elections in Virginia, a closely watched 2024 bellwether. Youngkin wore a similar red vest two years ago, as the first-time candidate who hailed from the party’s business wing edged out former Democratic Gov. Terry McAuliffe to become the first GOP candidate in a dozen years to win a gubernatorial election in the one-time swing state that had trended towards the Democrats the previous decade.His win energized Republicans and instantly made Youngkin a…
Yat Siu, cofounder and executive chairman of Animoca Brands, at Hong Kong’s Fintech Week on November 3, 2023.Shanshan Kao/Forbes Asia Yat Siu, cofounder and executive chairman of Hong Kong-based blockchain investor Animoca Brands, said Sam Bankman-Fried’s conviction for orchestrating a multibillion dollar fraud at his FTX crypto exchange should mark the end of an era of unlawful practices in the industry and help to get the crypto markets onto a more solid foundation. “One of the problems that we’ve had, narratively, is that sometimes people thought it wasn’t Sam Bankman-Fried, but it was the crypto industry,” Siu said Friday during…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.AP Møller-Maersk has said it plans to axe at least 10,000 jobs as the container shipping industry’s pandemic-driven boom gives way to weaker demand and overcapacity.Container shipping lines had already warned this year would be much tougher, but Maersk said on Friday the picture had deteriorated and that it was stepping up cost cuts.The Danish group said it aimed to reduce its workforce from 110,000 to below 100,000, a move that would generate annual savings of $600mn.In a sign of the strains…
© Reuters. FILE PHOTO: Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo By Ankur Banerjee and Alun John SINGAPORE/LONDON (Reuters) – The euro and pound were heading for weekly gains against the dollar on Friday, as the U.S.-led rally in global bonds sent yields down, and with them the dollar, bringing relief even to the embattled Japanese yen. Always-crucial U.S. non farm payrolls data due at 1230 GMT – the most important data point in a packed week – could change that narrative completely…