Author: Press Room

© Reuters. FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023.  REUTERS/Kevin Lamarque/File Photo (Reuters) – The U.S. Treasury Department on Wednesday said it plans to “gradually” increase the size of most of its debt auctions in the November 2023 to January 2024 quarter and expects it will need one more additional quarter of increases after this to meet its financing needs. It plans to sell $112 billion in its quarterly refunding next week, which will raise $9.8 billion in new cash and refund $102.2…

© Reuters. Stevanato Group has announced an 11% revenue increase to EUR271.4 million in Q3 2023, propelled by growth across its segments. Despite the Engineering Segment’s revenue falling short of expectations due to timing issues, the company remains optimistic about achieving its full-year guidance. The company’s core Drug Containment Solutions (DCS) business grew by 10% in Q3 compared to the same period last year. The company also discussed its current order backlog and forward visibility, extending into fiscal year 2025. Key takeaways from the call:The company’s growth was driven by both segments, with a notable 10% increase in the core…

© Reuters. Gold prices steadied on Today, with holding at $1,982.84 per ounce and U.S. experiencing a minor decline of 0.2 percent to stand at $1,991.35. The stabilization comes as market participants eagerly anticipate key monetary policy announcements from the Federal Reserve and the Bank of England. The consolidation of gold prices follows a surge last month due to heightened tensions in the Middle East. The escalation was amplified by Israeli airstrikes in the Gaza Strip that resulted in 50 Palestinian casualties, including a Hamas commander. Israel’s Prime Minister Benjamin Netanyahu confirmed the ongoing conflict with Hamas. Investors are now…

National Retail Properties FFO of $0.81 beats by $0.01, revenue of $205.13M misses by $2.1M

© Reuters. The euro (EUR) experienced a volatile trading session yesterday, initially strengthening due to a weakening US dollar (USD), but later relinquishing gains as the USD rebounded and European Central Bank (ECB) rate hike expectations faded due to subdued inflation figures. The pound (GBP) largely traded without direction amidst a lack of UK economic data and investor caution ahead of the Bank of England’s interest rate decision. Despite disappointing Chinese data, the Australian dollar (AUD) remained directionless, while an uptick in unemployment led to a decline in the New Zealand dollar (NZD). The Canadian dollar (CAD) softened as oil…

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The Guardian accused Microsoft of causing “significant reputational damage” with an AI-generated poll.A poll speculating how a woman died appeared next to a Guardian news story on Microsoft Start.The poll on the aggregation platform highlights the risk of relying on automated processes. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app A newspaper publisher accused Microsoft of damaging its reputation after an AI-generated poll appeared next to one of its articles on an aggregation platform.The Guardian reported on Lilie James, a 21-year-old water polo coach…

A recent report from Bank of America BAC found that a growing number of Americans are resorting to hardship withdrawals from their 401(k) accounts, signaling financial distress is on the rise. Hardship withdrawals refer to funds withdrawn from an individual’s 401(k) account due to immediate and heavy financial need. Federal law states these withdrawals are taxed and cannot be repaid into the account. The second quarter of 2023 saw a surge in the number of people resorting to hardship withdrawals. This increase is 36% higher than the same period the previous year, according to data from Bank of America. In…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Asos has warned of more pain ahead, predicting a drop in sales next year as it seeks to turn itself round following slowing demand from cash-strapped consumers. The online fast-fashion company’s pre-tax losses ballooned to almost £300mn in the year to September 3, compared with £31mn the previous year, which included a stock write-off announced earlier this year, and consultancy and restructuring costs. Revenue dropped to £3.5bn from £3.9bn, the UK-based company said on Wednesday. Asos added that it expected sales to fall…

© Reuters. FILE PHOTO: People walk alongside the City of London financial district in London, Britain, October 25, 2023. REUTERS/ Susannah Ireland/File Photo By Laura Matthews and Chiara Elisei NEW YORK/LONDON (Reuters) – Global fund managers are exploring ways to spread their counterparty risk, with many regularly monitoring the credit ratings of their dealer banks following the recent banking crisis, according to an industry survey released on Wednesday. Concerned that possible future bank failures could cause short-term liquidity squeezes or leave them without a provider for foreign exchange services to make payroll or key vendor payments, 80% of fund managers…