Author: Press Room
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.An unexpectedly strong acceleration in Apple’s services business and a return to growth for the iPhone helped the US consumer tech group withstand the worst effects of weaker consumer demand in the latest quarter.However, that was not enough to prevent a fourth consecutive period of overall revenue declines, leaving Apple’s shares more than 3 per cent lower in after-market trading on Thursday. Wall Street is digesting the stock’s decline since August, even though it has risen 42 per cent since the start…
© Reuters. Block Inc logo is seen displayed in this illustration taken, April 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo By Manya Saini and Niket Nishant (Reuters) -Block shares surged 16% in extended trade on Thursday after the payments firm raised its annual forecast for adjusted profit, joining rivals in brushing off worries of an uncertain economy weighing on consumer spending. Market-beating results from the Jack Dorsey-led digital payments giant capped a broadly strong quarter for a sector tied closely with consumer strength and purchasing power. Block now expects adjusted core earnings of $1.66 billion to $1.68 billion for the full year,…
© Reuters. A logo of New York power utility Consolidated Edison Inc is seen in New York July 1, 2012. REUTERS/Eric Thayer/File Photo (Reuters) – Utility firm Consolidated Edison (NYSE:) on Thursday beat third-quarter profit estimates on higher earnings from its electricity segment. The company, which provides electricity in much of the New York City, had applied for a higher rate case earlier this year. A rate case is the formal process used to determine what customers need to pay for the electricity, , private water and steam services provided by regulated utilities. Much of the United States also witnessed…
Carvana up 2% amid quarterly results, optimistic Q4 outlook
Eric Trump testified Thursday he was never involved with financial statements for the Trump Organization, echoing older brother and co-Executive Vice President Donald Trump Jr.’s testimony from earlier this week.Both sons of former President Trump took the stand to testify in the non-jury civil trial stemming from New York Attorney General Letitia James’ lawsuit against Trump’s family and his businesses. Eric Trump is expected to return to the stand for testimony Friday.Eric Trump said Thursday he had “no involvement and never worked on my father’s statement of financial condition.” TRUMP BLASTS MANHATTAN JUDGE, DEFENDS HIS ‘VERY GOOD CHILDREN’ AMID TRUMP ORG CIVIL…
Boring jobs report expected. getty I expect tomorrow’s October jobs report will be so so. Why? Tuesday’s Labor Department’s monthly Job Opening and Labor Turnover Survey (JOLTS) indicated stagnating labor demand and so do business indicators. The National Association of Business Economists mid-October reported falling sales and fewer incidences of rising sales since July. Also, JOLTS reported hires were blah. The number of job openings changed little at 9.6 million on the last business day of September. And compared to last month, the number of hires and total separations changed little at 5.9 million and 5.5 million, respectively which means…
Interest Rates on Some Retail Credit Cards Climb to Record 33% Some store credit cards now charge more than 33% interest, after blowing past a symbolic 30% threshold that retailers and banks dared not cross. The average retail credit card now charges 28.93% interest, a record high, according to Bankrate, the personal finance site. In a recent survey of lenders, Bankrate found four retail cards that charge an eye-popping 33.24% annual interest. The retailers: Burlington, Academy Sports + Outdoors, Good Sam and Michaels. [USA Today] The interest rates on some retail credit cards is now a shocking 33%getty Credit Scores…
Stay informed with free updatesSimply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox.Elon Musk told UK prime minister Rishi Sunak there “will come a time where no job is needed” as the billionaire entrepreneur described artificial intelligence as the “most disruptive force in history” in a wide-ranging conversation.Speaking in the lavish Lancaster House in London, the Tesla chief executive and owner of SpaceX and X said he believed there would come a time when “you can have a job if you want a job . . . but AI will be able to do everything”. The discussion between…
© Reuters. FILE PHOTO: Monster energy drinks are seen for sale in a motorway services shop, Reading, Britain, January 25, 2019. REUTERS/Peter Cziborra/File Photo (Reuters) – Monster Beverage Corp (NASDAQ:) beat estimates for third-quarter profit on Thursday, helped by higher pricing for its energy drinks and hard seltzers, sending the company’s shares up about 3% in extended trade. Monster, like industry leaders Coca-Cola (NYSE:) and PepsiCo (NASDAQ:), has seen demand hold up largely for its beverages, despite a string of price increases. The company has also seen costs of freight and aluminum cans come down from the pandemic highs, helping…
© Reuters. Expedia app is seen on a smartphone in this illustration taken February 27, 2022. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) – Expedia (NASDAQ:) Group on Thursday announced a new share buyback plan of $5 billion after posting a better-than-expected quarterly profit, as the online travel booking company benefited from resilient demand and higher rates that boosted margins. Shares of the Vrbo and Hotel.com operator rose 10% after the bell. U.S. travel companies in the last few months has seen a sharp rise in demand for international travel as people free from restrictions take advantage of a strong dollar and flexible…