Reported about 1 month ago
Deckers Outdoor's shares surged by approximately 11% as the company increased its annual sales forecast, anticipating strong demand for its Hoka shoes and boots amidst the upcoming holiday season. With innovative brands like Hoka, New Balance, and On gaining popularity, they are challenging major competitors like Nike in the running category. The notable growth in Hoka's sales, along with the positive retail outlook, suggests promising results for Deckers despite facing some logistical challenges.
Source: YAHOO
Reported about 1 month ago
In response to heightened inflation driven by significant military expenditure related to the ongoing conflict in Ukraine, Russia's central bank has raised its key interest rate by two percentage points to a record high of 21%. The bank stated that domestic demand is exceeding supply capabilities, resulting in inflation rates surpassing their July forecast. With government spending on the military consuming a large portion of the budget, the central bank's governor, Elvira Nabiullina, highlighted efforts to stabilize the economy and manage inflation, which could double their target rate of 4% if unchecked.
Source: YAHOO
Reported about 1 month ago
Nvidia's billionaire CEO Jensen Huang claims that AI won't replace any jobs, including his own, despite its potential to excel in certain tasks. Speaking at Nvidia's AI Summit, he noted that while AI can significantly improve efficiency by performing 20% to 50% of job functions, it cannot fully replace human roles. Huang emphasized that the real competition will come from individuals who utilize AI as a tool to enhance productivity, rather than AI itself taking over jobs. His remarks align with a broader view that AI technologies are still developing and not designed to replace humans in their entirety.
Source: YAHOO
Reported about 1 month ago
The S&P 500 index is on track for its first weekly decline in seven weeks, with investors awaiting the earnings reports of major tech companies and October's jobs data. Capri Holdings' stock has sharply fallen after a judge blocked its $8.5 billion merger with Tapestry, the owner of Coach. Meanwhile, Apple has regained its position in the top five smartphone brands in the U.S.
Source: YAHOO
Reported about 1 month ago
Negotiations for GLP Pte's sale of a stake in its China operations to Guangdong Holdings Ltd. have stalled over term disagreements. While GLP may explore talks with other buyers, a recent $5.2 billion sale of a part of its fund management arm has eased its financial pressure. Despite the challenges, discussions with Guangdong Holdings could potentially resume in the future. In the first half of 2024, GLP's China revenue declined by 16%, resulting in a significant net loss, although its data center operations showed strong growth.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
DHL Supply Chain is adding two Nikola hydrogen trucks to its fleet for operations in Illinois, marking the company's entry into hydrogen-powered vehicles. These trucks will be used exclusively for Diageo North America and will help reduce carbon emissions and advance sustainability goals, while utilizing green hydrogen produced from renewable energy. This initiative reflects a growing interest in hydrogen technology beyond California, where most of Nikola's hydrogen trucks have been deployed.
Source: YAHOO
Reported about 1 month ago
Canada's main stock index, the S&P/TSX composite, fell for the fifth consecutive day, dropping 87.88 points or 0.36% to 24,463.67, marking the longest losing streak since April. Investor caution is evident ahead of retail sales data and a potentially volatile market, influenced by rising U.S. bond yields and the upcoming U.S. presidential election. The real estate and consumer discretionary sectors led the declines, while energy stocks saw modest gains.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
The Russian central bank has increased its interest rate to a record-high of 21% to combat inflation, which has been exacerbated by increased military spending.
Source: YAHOO
Reported about 1 month ago
Amazon (AMZN) shares have dropped approximately 3% from their highs in late September, raising concerns among investors as they prepare for the earnings report on October 31. While there are fears of a disappointing outlook due to potential weakness in consumer spending and cooling profit margins in AWS, overall retail sales data suggests that US consumers may be more resilient than anticipated.
Source: YAHOO
Reported about 1 month ago
Commerzbank AG announced that Jefferies Financial Group Inc. controls 5.33% of its voting rights, surpassing the 5% threshold that necessitates disclosure. This stake is part of Jefferies' strategy to hedge against UniCredit's significant 21% ownership in Commerzbank, mostly via derivatives. UniCredit has also requested approval from the European Central Bank to potentially raise its stake to 29.9%. Commerzbank's CEO highlighted the need for a unified banking market in Europe for successful cross-border deals.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Barclays successfully requested a UK court to dismiss over half of a shareholder lawsuit concerning its 'dark pool' trading platforms, reducing the potential liability from £560 million ($727 million). A judge ruled that investors relying solely on Barclays' share value or listed status cannot pursue their claims, potentially paving the way for a quicker settlement ahead of a scheduled trial in October 2025.
Source: YAHOO
Reported about 1 month ago
The International Monetary Fund has stated that China's recent fiscal measures are insufficient to combat deflation risks in its economy. Despite potential boosts to growth forecasts, IMF officials highlight the need for the Chinese government to increase spending to stabilize the housing market and improve domestic demand. They estimate that approximately 5% of China's GDP, around 6.3 trillion yuan, is required to address the ongoing economic challenges.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Spirit Airlines has agreed to sell 23 Airbus aircraft for $519 million to enhance its cash flow as it faces potential bankruptcy. The sale will increase liquidity by about $225 million by the end of 2025 and comes as Spirit explores bankruptcy options to facilitate a merger with Frontier Group after a failed attempt to merge with JetBlue. Amidst a liquidity crisis, the airline is also implementing cost-cutting measures, including workforce reductions, which have led to a 10% rise in its stock price.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
UBS Global Wealth Management has upgraded its view on global equities to 'attractive', citing resilient U.S. economic growth, easing monetary policies from major central banks, and an AI boom. This shift is influenced by a 16.3% increase in the MSCI world equity index this year, and UBS analysts believe further stimulus from China and robust labor markets will bolster corporate earnings, particularly in the technology sector. However, potential U.S. election outcomes, especially involving Donald Trump, could pose short-term market risks.
Source: YAHOO
Reported about 1 month ago
Gediminas Simkus, a member of the European Central Bank, stated that while a potential interest rate cut is on the table for December, he cannot support a significant half-point reduction at this time. Instead, he emphasizes the importance of the long-term trajectory of borrowing costs. Recent economic indicators suggest a slowing economy, but Simkus believes the ECB's current rate reductions are appropriate and are not lagging in terms of response. He maintains that the approach should remain data-driven and gradual.
Source: YAHOO