Author: Press Room

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…

© Reuters. FILE PHOTO: The logo of WeWork, backed by Japan’s SoftBank Group Corp, is seen in the window of an office building in London, Britain, July 3, 2020. REUTERS/Simon Newman/File Photo (Reuters) -WeWork plans to file for bankruptcy as early as next week, a source familiar with the matter said on Tuesday, as the SoftBank (TYO:) Group-backed company struggles with a massive debt pile and hefty losses. Shares of the flexible workspace provider fell 32% in extended trading after the Wall Street Journal first reported the news. They have fallen roughly 96% this year. New York-based WeWork is considering…

© Reuters. A row of residential houses stands in Brooklyn’s neighborhood of Bushwick, New York, U.S., September 16, 2022. REUTERS/Amr Alfiky/File Photo (Reuters) – Insurer Assurant (NYSE:) reported a surge in third-quarter adjusted profit on Tuesday, helped by the strong performance of its global housing unit and higher investment returns, sending shares up 2.7% in aftermarket trading. Assurant’s global housing business, which offers lender-placed insurance, multi-family housing and mortgage services, posted adjusted EBITDA of $165.1 million in the quarter, compared with a loss of $38.5 million a year earlier. “Global Housing’s top-line momentum and improving loss experience combined with Global…

© Reuters. Investing.com – US crude stockpiles possibly rose as much as 1.3 million barrels last week, resulting in another build as well at the storage hub tied to the delivery of oil contracts traded on the New York Mercantile Exchange, petroleum trade group API said Tuesday.  Declines were seen in inventories of gasoline, the premier US motor fuel product, and distillates — a feedstock for diesel and heating fuel, the weekly inventory report from the API, or American Petroleum Institute, showed. Typically at this time of year, demand for motor fuels is softer in the United States as Americans…

Bet_Noire The FDA has approved Novartis’ (NYSE:NVS) Cosentyx for the treatment of severe hidradenitis suppurativa, a debilitating skin disease, in adults. Novartis said Cosentyx, also known as secukinumab, is currently the only IL-17A inhibitor approved for the condition. Cosentyx is already approved in the US for the treatment of conditions such as plaque psoriasis, psoriatic arthritis, ankylosing spondylitis and non-radiographic axial spondylarthritis. Acelyrin (SLRN) and MoonLake Immunotherapeutics (MLTX) are also developing IL-17 inhibitor therapies for hidradenitis suppurativa. (Adds Acelyrin and MoonLake to story.)

© Reuters. The Bank of Japan (BOJ) has made a dovish adjustment to its Yield Curve Control (YCC) policy, leading to a weakened Japanese yen (JPY) against G-10 and Asian currencies. The adjustment has increased flexibility by placing a 1.0% upper end on the 10-year Japan Government Bonds (JGB) yield range as a reference rather than a cap. This move comes amid Wall Street’s overnight gains and has sparked risk-on sentiment in the market. Market participants are now closely watching the BOJ’s next decision, which could see the 10-year JGB yield rise above 1%. RBC Capital Markets predicts this potential…

Ep. 554 — Ilana Dayan The Axe Files with David Axelrod Israeli journalist Ilana Dayan has anchored “Uvda,” the leading investigative news program on Israeli TV, for 30 years. She joined David this week to talk about the first 24 hours after Hamas attacked Israel on Oct. 7, America’s involvement in the conflict, the helplessness felt in Israel, whether she believes the war will expand throughout the region, the political fallout for Israeli Prime Minister Benjamin Netanyahu and his Likud party following the attack, and where the Israeli-Palestinian relationship—as well as any hope for peace—goes from here. Oct 26, 2023…

Dow Jones Industrial Averagegetty October is joining September and August for months this year that the Dow Jones Industrial Average made the journey from high at the beginning to lower prices by month’s end. The closely watched measure of the really big stocks in the market rallied from time to time but never enough to erase the amount of loss that showed up on the days of selling. Although economic reports showed strength — gross domestic product increased 4.9% in the 3rd quarter — investors seemed to be looking at interest rates rises as the disturbing factor mitigating anything else.…

WASHINGTON, DC August 24, 2022: US President Joe Biden delivers remarks regarding student loan … [+] forgiveness in the Roosevelt Room of the White House on Wednesday August 24, 2022. Education Secretary Miguel Cardona joined. (Photo by Demetrius Freeman/The Washington Post via Getty Images)The Washington Post via Getty Images The Education Department has released the most detailed information yet on a new student loan forgiveness program being developed by the Biden administration. According to these updates, officials are honing in on providing debt relief to four distinct groups of borrowers, as well as a fifth group tied to financial hardship.…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Japan’s defence industry needs to step up its sales effort and reduce costs to become a global player in the fiercely competitive arms exports market, according to an executive at the country’s biggest military contractor. Masayuki Eguchi, head of Mitsubishi Heavy Industries’ defence and space business, said in an interview with the Financial Times that the group plans to double hiring of defence-related staff to expand weapons production in the wake of Tokyo’s move to increase military spending. Japan overturned its longstanding ban…