Author: Press Room

While some rivals struggle, the footwear group is doing well thanks to its Hoka running shoes

© Reuters. Electric power transmission pylon miniatures and American Electric Power logo are seen in this illustration taken, December 9, 2022. REUTERS/Dado Ruvic/Illustration (Reuters) – American Electric Power (NASDAQ:) on Thursday beat profit estimates for the third quarter, as the utility benefited from higher electricity rates and customer additions. That helped the company, one of the largest electricity producers in the United States, to cushion the impact of soaring costs driven by higher interest rates. Operating earnings in its transmission and distribution unit, which includes Ohio Power, rose to $206 million for the quarter, from $165 million last year. The…

© Reuters. (Reuters) – Dentsply Sirona lowered its full-year profit and revenue forecasts on Thursday due to weak demand for its dental equipment and consumable products, sending the company’s shares down 3% before the bell. Demand for clear aligners and non-urgent procedures including orthodontic treatment initially recovered this year after a poor 2022 but since then demand, especially for higher-end restorative procedures and adult clear aligners, has waned due to economic uncertainties in some of its markets. Pennsylvania-based Dentsply sells clear dental aligners under the brand names SureSmile and Byte. The company now expects total fiscal 2023 revenue between $3.90…

© Reuters Oil prices rose by over 1% on Thursday, ending a three-day decline. The upswing was in response to the U.S Federal Reserve’s decision to keep benchmark interest rates steady, with both futures and West Texas Intermediate crude futures seeing a 1.1% increase to $85.52 and $81.35 a barrel respectively. This rally coincided with gains in financial markets due to the Fed’s unchanged interest rate of 5.25%-5.50%. In the Middle East, Iran’s Supreme Leader Ayatollah Ali Khamenei has called for Muslim states to halt oil and food exports to Israel in response to its bombardment of the Gaza Strip.…

iSpecimen GAAP EPS of -$0.23 beats by $0.12, revenue of $2.78M beats by $0.55M

© Reuters. A consortium of Swiss financial institutions is set to revolutionize digital financial markets through the launch of Helvetia Phase III, a project aimed at exploring the use of wholesale central bank digital currency (wCBDC). This initiative marks the first time real Swiss Franc wCBDC will be used to settle digital securities transactions. The project is a collaboration among SIX, the Swiss National Bank (SNB), and six commercial banks, including Banque Cantonale Vaudoise, Basler Kantonalbank, Commerzbank (ETR:), Hypothekarbank Lenzburg, UBS, and Zürcher Kantonalbank. The pilot program will run from December 2023 to June 2024. Transactions will take place on…

This week, the Biden administration said it would amplify efforts to fight antisemitism on college campuses, directing the Justice Department and the Department of Homeland Security to connect campus security with state and local law enforcement and expedite the processing of discrimination complaints under a statute that is intended to specifically prohibit certain forms of antisemitism and Islamophobia.“The political leadership has been rock solid on this,” Jonathan Greenblatt, the chief executive of the Anti-Defamation League, said of the Biden administration after attending closed-door White House meetings on Monday to deliver recommendations for improving safety at schools. “They are focused on…

Robert Bache (aka “Medicare Bob”) is VP of Health at AmeriLife, and Founder of Senior Healthcare Direct. getty I’ve been through my fair share of Medicare Annual Enrollment Periods (AEPs)—as an agent and as a leader. I’ve made mistakes, learned from them and soaked up wisdom from the people around me. Now, I’m happy to pass on my insights to new agents gearing up for AEP. Experience is like gold in this fast-paced world. I’ve seen all the ups and downs, the challenges and the victories. Embrace those challenges, learn from your experiences and make a real difference in your…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Revolut has appointed a new chief executive to lead its UK entity as one of the country’s most valuable fintechs awaits a key final decision on its bid for a banking licence in its home market.The fintech has appointed Francesca Carlesi, founder and chief executive of digital mortgage lender Molo, to lead Revolut NewCo UK, the entity that has applied for a UK banking licence. She will start the job in December, Revolut said.Carlesi, who launched digital lender Molo in 2017, has…

In a move diverging from previous suggestions of a December rate hike, Norges Bank, Norway’s central bank, decided to maintain its policy rate at 4.25% today. The decision, influenced by potential declines in underlying inflation, marks a shift from September’s guidance and indicates a possible rate stabilization. Analysts had predicted the bank would hold borrowing costs at this 15-year high, which aligns with the central bank’s decision. Despite faster-than-expected inflation deceleration since August, a weakening krone could increase imported consumer price growth, posing a challenge for Governor Ida Wolden Bache and her team. The Monetary Policy and Financial Stability Committee,…