Author: Press Room
Stay informed with free updatesSimply sign up to the Financial services myFT Digest — delivered directly to your inbox.A group of veteran US financial journalists is teaming up with investors to launch a trading firm that is designed to trade on market-moving news unearthed by its own investigative reporting.The business, founded by investor Nathaniel Brooks Horwitz and writer Sam Koppelman, would comprise two entities: a trading fund and a group of analysts and journalists producing stories based on publicly available material, according to several people familiar with the matter.The fund would place trades before articles were published, and then publish…
Bank of Canada’s Governor, Tiff Macklem, informed the House of Commons finance committee that removing the federal carbon tax could lead to a significant, albeit temporary, drop in Canadian inflation. The current rate stands at 3.8%, and Macklem suggests that abandoning the tax could result in a one-time decrease of 0.6 percentage points, bringing the rate down to 3.2%. However, he clarified that this effect would only last for a year. The carbon tax is said to contribute approximately 0.15 percentage points to inflation annually. It adds over 17 cents per litre to light fuel oil and more than 14…
© Reuters. FILE PHOTO: A view of the turbines at Orsted’s offshore wind farm near Nysted, Denmark, September 4, 2023. REUTERS/Tom Little/File Photo By Scott DiSavino (Reuters) -European energy companies, including Denmark’s Orsted (CSE:), will likely write down more of their U.S. offshore wind investments this week after BP (NYSE:) and Equinor booked $840 million in impairments in recent days. Orsted, the world’s largest offshore wind developer, said in August it may see impairments of 16 billion Danish crowns ($2.3 billion) on its U.S. offshore developments due to supply chain problems, soaring interest rates and a lack of new tax…
4/4 © Reuters. FILE PHOTO: A worker collects oranges harvested at a farm in El Nobaria, northeast of Cairo, Egypt December 23, 2020. Picture taken December 23, 2020. REUTERS/Mohamed Abd El Ghany/File Photo 2/4 By Marcelo Teixeira NEW YORK (Reuters) – Prices for orange juice rose on Tuesday to the highest since future contracts started trading in New York in 1966 as an outlook for limited production in the United States, Brazil and Mexico boosted investors’ interest in the product. The January contract of frozen concentrated orange juice (FCOJ) on the Intercontinental Exchange (NYSE:) hit an all-time high of $4.17…
Big 5 Sporting Good plunges 13% on Q4 same-store sales projection
© Reuters. FILE PHOTO: Banknotes of Japanese yen are seen in this illustration picture taken September 23, 2022. REUTERS/Florence Lo/Illustration/File Photo TOKYO (Reuters) – Japan’s government confirmed on Tuesday that it did not intervene in the currency market to prop up the yen in the past month, data from the Ministry of Finance showed. The monthly Ministry of Finance data showed no spending on intervention between Sept. 28 and Oct. 27. Earlier this month, the Japanese currency had rebounded sharply by around 3 yen within minutes of softening beyond 150 to the dollar, a level seen by investors as a…
Officials in California’s San Diego County are calling for the closure of the southern border, amid heightened terror concerns and a recent memo warning of the potential for terrorist fighters to attempt to enter the U.S..”It’s time to close the border to new immigration,” San Diego County Supervisor Jim Desmond said during a recent press conference.Desmond spoke alongside El Cajon Mayor Bill Wells and other local Republicans who backed calls for increased border restrictions.CBP MEMO SOUNDS ALARM ON HAMAS, HEZBOLLAH FIGHTERS USING SOUTHERN BORDER TO ENTER US A Customs and Border Protection memo warns about the risk of foreign terrorist…
Elon Musk gave more information on the long-awaited Cybertruck release in a new Joe Rogan interview. The billionaire said there will be a “beast mode version” and a version with bulletproof glass. Tesla has scheduled a Cybertruck delivery event for November 30. 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 Elon Musk spilled more details on Tesla’s upcoming Cybertruck during an interview with Joe Rogan on Tuesday.On his latest appearance on “The Joe Rogan Experience,” the Tesla CEO said the electric pickup truck will…
Smiling business woman lying in moneygetty Despite headline inflation trending downward in recent months, more than half of American adults say that they are now living paycheck to paycheck following a LendingClub report published in June 2023. A closer look at the report revealed that roughly 58 percent of U.S. adults are now living each month paycheck to paycheck. More surprisingly, three-quarters of consumers earning less than $50,000 annually, and 65 percent earning between $50,000 and $100,000 are having their paychecks stretched thin every month. With inflation dramatically falling, after reaching a four-decade high of 9 percent in June last…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Carlsberg’s chief executive warned of weak consumer sentiment and denounced Moscow’s seizure of its Russian subsidiary as the Danish brewer reported lower than expected beer sales across its key markets. “There is nowhere we are seeing a buoyant consumer,” Jacob Aarup-Andersen said following his first trading update as chief executive, in which the company reported like-for-like revenue growth globally of 5.8 per cent on the back of price increases. Sales volumes fell 5.2 per cent in western Europe, lower than analysts’ consensus, while…