At the time of reporting, the currency has retained its strong footing and, in the European session, traded 0.24% up against the US dollar (USD) at 0.6534. Economists attributed this robust performance to the country’s Q1 Producer Price Index (PPI) data, which reflected a year-on-year growth of 4.3% and outstripped the predicted 2.6%. PPI for…
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This fall occurred on the same day that the S&P 500 was generally on the up following solid profit reports from big names such as Microsoft Corp (MSFT) and Alphabet Inc. (GOOG). Reports concerning how increasing maintenance costs are eating into the company’s oil-refining profits caused the share price to fall. It was the worst…
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According to CNBC, those close to the matter indicated that Bakish would not be attending the company’s quarterly earnings call scheduled for Monday. Instead, the international media and entertainment giant will rely on its segment heads to handle the event. The firm is currently in talks with Skydance Media, a private outfit, about a possible…
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Google’s parent company had a poor spell in 2022 but is now back on track. Executives are so pleased with GOOG’s performance that they have agreed to pay shareholders the first quarterly dividend since the company’s public launch at an IPO in 2004. The dividend of $0.20 per share will be paid to shareholders on…
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The US Bureau of Economic Analysis (BEA) said that during Q1 2024, US GDP grew by 1.6% according to the ‘advance’ estimate. The BEA stated: In the fourth quarter of 2023, real GDP increased 3.4 percent. The increase in the first quarter primarily reflected increases in consumer spending and housing investment that were partly offset…
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The Telegraph reported that the clampdown on the sale and ownership of combustion engines may force Stellantis to cease operations in Britain. According to the Telegraph, Carlos Tavares, the chief executive officer of Stellantis, indicated that a law curbing petrol car sales will compel manufacturers to either sell vehicles at a loss, limit the amount…
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Economists attributed this positive performance to the biotechnological company’s cost-cutting drive and an uptake in sales of its newly-launched Alzheimer’s drug, LEQEMBI. Analysts predicted that the sales of this treatment would be between $13mn and $30mn. Biogen’s Q1 sales of LEQEMBI, as noted by its Japanese partner, Eisai Co., Ltd. (4523.T), were $19mn. Don’t miss…
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Revenue was reported at $42.78bn, which exceeded the $40.04bn that had been anticipated. In terms of earnings per share, $0.49 was also better than the estimated figure of $0.42. Net income of $1.3bn has been reported, and adjusted EBIT of $2.8bn. The Ford Pro commercial fleets division provided one of the most impressive returns, with revenue…
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This is the weakest JPY/USD performance since the mid-1990s. All eyes are now on the Bank of Japan (BOJ) as the markets expect some intervention from this monetary policymaker to bolster the yen. Don’t miss out the latest news, subscribe to LeapRate’s newsletter This currency’s weakness sparked market angst as the Japanese finance minister, Shunichi…
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According to a Bloomberg report, SEBI acted against a pair of foreign portfolio investment firms. The first allegedly engaged in shorting shares of Gautam Adani’s companies after it became aware of the publication of a short-seller report from Hindenburg Research, based in the US. When this report came to light in January 2023, it decreased…
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