Reported 25 days ago
Wall Street analysts continue to raise their bullish forecasts for gold as the precious metal hits new all-time highs, reaching $3,114. Factors such as trade war fears stemming from President Trump's policies and a weakening US dollar are supporting gold prices. Bank of America has revised its gold price target to $3,500, while JPMorgan speculates on the possibility of prices reaching $4,000. Increased demand from central banks and investment trends are driving this bullish sentiment.
Source: YAHOO
Reported 25 days ago
U.S. stock futures showed slight declines as Wall Street responds to the escalating trade war initiated by President Trump and anticipates the release of key inflation data. The Dow Jones, S&P 500, and Nasdaq all experienced downturns amidst economic uncertainty and new tariffs on imports, particularly in the auto sector. Investors are focusing on the upcoming Personal Consumption Expenditures index, which is crucial for understanding inflation trends in relation to the Federal Reserve's targets.
Source: YAHOO
Reported 25 days ago
The Bank of India is set to bring a ¥15 billion ($100 million) yen-denominated loan to the syndication market next month, following a recent trend of Indian firms tapping the yen loan market due to its low interest rates. This loan comes after the bank's first dollar syndicated loan in a decade, reflecting a rise in investor interest in Indian assets amid favorable economic indicators and central bank liquidity support.
Source: YAHOO
Reported 25 days ago
Abu Dhabi Commercial Bank (ADCB) is reportedly exploring the sale of a package of non-performing loans as part of efforts to clean up its balance sheet, potentially by the end of 2025. Having previously sold distressed debt in 2023, ADCB is examining a deal that could mirror past transactions involving substantial amounts. The move aligns with a broader trend in the Middle East, where banks are increasingly offloading bad debts to enhance financial stability.
Source: YAHOO
Reported 25 days ago
European banking stocks have surged significantly, marking their best quarterly performance since 2020, driven by strong earnings, share buybacks, and public spending plans. The Stoxx 600 Banks Index has experienced a 25% increase this year, resulting in a substantial 160% return over the past ten quarters. Analysts anticipate continued growth amid favorable economic conditions, despite concerns about future profitability plateauing and increasing valuations.
Source: YAHOO
Reported 25 days ago
As President Trump prepares for the implementation of new reciprocal tariffs, US ports brace for increased complexity and potential chaos. With a complicated tariff structure already in place and new duties potentially impacting a wide range of goods and trading partners, experts warn that the customs system may struggle to handle the influx of regulations. This situation could lead to logistical challenges for importers, further complicating international trade and compliance.
Source: YAHOO
Reported 25 days ago
In a recent address to global business leaders, Chinese President Xi Jinping emphasized the importance of foreign investment for revitalizing China's economy, which is currently affected by a property downturn and declining consumer confidence. Despite challenges such as a tariff war with the U.S. and COVID-19 repercussions, Xi promoted China as a safe and promising place for investment, urging confidence in the country's market potential and striving for a 5% growth target for the year.
Source: YAHOO
Reported 25 days ago
Copper prices have dropped from a nine-month peak amid speculation that supply issues linked to potential U.S. tariffs could resolve sooner than anticipated. After reaching over $10,000, prices fell on the London Metal Exchange for three consecutive days, coinciding with reports that the U.S. administration may implement tariffs on copper imports in the coming weeks. This rapid decision could limit traders' ability to redirect metal to the U.S., prompting a swift retreat in copper values.
Source: YAHOO
Reported 25 days ago
Ekrem Imamoglu, the jailed mayor of Istanbul, has criticized Western leaders for their lack of strong condemnation regarding his arrest and the authoritarian shift in Turkey under President Erdogan. In an op-ed for The New York Times, he accused the US and Europe of prioritizing geopolitical interests over democratic values, highlighting a recent absence of significant responses from international leaders despite widespread protests in Turkey following his detention.
Source: YAHOO
Reported 25 days ago
Korea Zinc CEO Yun B. Choi successfully maintained his position and control over the board after a contentious shareholder meeting, where he outmaneuvered the company’s largest investor, Young Poong Corp., which sought more representation. Despite Young Poong achieving significant support, Korea Zinc utilized a strategic share purchase to prevent them from voting a substantial stake, leading to a ruling against Young Poong’s attempt to regain full voting power. This meeting highlighted ongoing tensions in South Korea's corporate governance and saw mixed reactions to governance strategies from proxy advisory firms.
Source: YAHOO
Reported 25 days ago
Elon Musk and the Department of Government Efficiency team appeared on Fox News to discuss the achievements of DOGE and answer questions regarding their cost-cutting initiatives.
Source: YAHOO
Reported 25 days ago
Nippon Steel Corp. shares fell on a report indicating the company may invest up to $7 billion to upgrade US Steel facilities, contingent on a successful $14.1 billion takeover bid. This potential investment is significantly higher than a previous commitment of $2.7 billion. Consequently, US Steel shares rose over 7% after trading hours, while Nippon Steel's shares declined nearly 4% in Tokyo. Both companies are in discussions to salvage the proposed transaction, with Nippon Steel executives currently meeting with US officials for approval.
Source: YAHOO
Reported 25 days ago
Liberty Energy's CEO Ron Gusek stated that while U.S. steel tariffs imposed by President Trump may increase costs for some oilfield service components, the overall impact on earnings is expected to be modest. Although these tariffs could lead to higher expenses for oil producers, forcing them to adjust drilling activities, Gusek noted that current forecasts suggest only a slight increase in well completion costs. Liberty aims to manage rising costs by improving operational efficiency.
Source: YAHOO
Reported 25 days ago
Paul Atkins, nominated by President Trump to lead the SEC, was questioned by the Senate regarding his views on cryptocurrency regulation. Many in the crypto community are optimistic about his approach, anticipating a more rational and cooperative stance that could foster innovation and support price growth in the sector, contrasting sharply with the previous SEC’s heavy-handed tactics.
Source: YAHOO
Reported 25 days ago
Robinhood is expanding its offerings by introducing cash delivery services and traditional banking products, aiming to compete with major banks like Bank of America, Citigroup, and JPMorgan. CEO Vlad Tenev highlighted the demand for home cash delivery as a response to ATM crime, especially in urban areas. The new services include checking and savings accounts with competitive interest rates and wealth management options designed to enhance the platform's appeal beyond casual trading.
Source: YAHOO
Reported 25 days ago
Lululemon Athletica has projected annual revenue and profit below market expectations, attributing this to a lack of consumer interest in its new product styles, which has led shoppers to competitors like Alo Yoga and Vuori. The company's shares declined by 11% following the announcement, with forecasts indicating fiscal 2025 revenue of $11.15 billion to $11.30 billion, below analysts' predictions. Despite a slight rise in comparable sales of 3% and a successful holiday season bolstering quarterly revenue to $3.61 billion, concerns over tariffs and consumer spending could impact future performance.
Source: YAHOO
Reported 25 days ago
Venezuela's currency, the bolivar, has plunged to record lows as the Trump administration's new 25% tariffs on oil purchases threaten the country's dwindling economy. With major buyers such as India's Reliance Industries halting shipments and banks struggling to maintain dollar supply, Venezuelans are flocking to the black market for US dollars, causing inflation fears and potential economic contraction. Experts warn of a worsening situation unless the government relaxes foreign currency regulations.
Source: YAHOO
Reported 25 days ago
Australia's Prime Minister Anthony Albanese has set the election date for May 3, highlighting key issues like the cost of living and housing crisis as central to the campaign. Albanese aims to be the first leader in two decades to win consecutive elections, while his opponent, Liberal leader Peter Dutton, seeks to capitalize on global anti-incumbent sentiment. The current economic challenges, such as high inflation and interest rates, significantly influence the political landscape as both parties prepare for a decisive five-week campaign.
Source: YAHOO
Reported 25 days ago
President Trump has announced a 25% tariff on foreign-made vehicles, aiming to encourage automakers to relocate production to the U.S. While some companies may consider shifting their manufacturing back home, many are likely to wait and see if the tariffs are permanent before making any major changes. The policy's effectiveness in reshaping the automotive manufacturing landscape will depend on its duration and implementation.
Source: YAHOO
Reported 25 days ago
Italy plans to appoint Marcello Sala, head of a ministry overseeing state firms, to the supervisory board of chipmaker STMicroelectronics. This decision comes amid dissatisfaction with the company's CEO and concerns over potential job cuts in Italy, with unions warning of over 2,000 layoffs. The appointment will need approval from the board and shareholders in a forthcoming meeting.
Source: YAHOO
Reported 25 days ago
Investors are becoming more cautious as President Trump's announced tariffs on auto imports escalate global trade tensions, leading to reduced exposure in risky assets. While gold prices soared, auto manufacturer stocks plummeted, and currencies from impacted countries showed surprising resilience. Analysts predict potential declines in U.S. corporate earnings due to the tariffs, highlighting the economic uncertainty surrounding the approaching deadline for the new tariffs.
Source: YAHOO
Reported 25 days ago
A U.S. federal judge is overseeing a renewed auction for shares of Citgo Petroleum, which is embroiled in conflict as creditors argue over a low starting bid. With an ongoing bid process to help repay 18 creditors for debts linked to Venezuela, tensions have escalated, particularly following a controversial $3.7 billion bid recommended as the minimum offer. Complications arise from competing claims, legal challenges, and previously rejected offers, which have complicated the valuation and future of Citgo's assets.
Source: YAHOO
Reported 25 days ago
ISN Software Corp., a compliance software firm backed by Blackstone, is exploring the potential sale of the company, which could exceed $6 billion including debt. With increasing demands for compliance software, ISN, valued at $2 billion during Blackstone's 2020 investment, is in discussions with investment banks. The company, which offers contractor information management tools, has already attracted interest from various investors, but no final decisions have been made yet.
Source: YAHOO
Reported 25 days ago
On March 27, 2025, the S&P 500 fell by 0.3% after President Trump announced a 25% tariff on car imports, causing GM's stock to plummet 7.4%. Other major automakers like Ford and Stellantis also faced losses, while auto parts retailers benefitted from the potential for consumers to keep older vehicles longer. Notably, Dollar Tree shares surged by 11.2% after plans to sell its Family Dollar brand, and Abbott Laboratories saw a 3.8% increase following EU approval of its new medical device.
Source: YAHOO