Dow and Nikkei 225 Hit by Selling, Nasdaq 100 Losses Contained for Now
While the Nasdaq 100’s losses have been relatively limited, both the Dow and the Nikkei 225 have suffered heavy losses.
Global Unemployment to Slightly Fall in 2024, UN Labour Body
May 29 Reuters The global unemployment rate is expected to fall slightly to 4.9 this year from 5.0 in 2023, even as inequalities in labour markets persist, the International Labour Organization ILO said on Wednesday. The ILO, a United Nations agency, in January estimated unemployment to edge up to 5.2 due to an expected rise in joblessness […]
Best Buy Set for Tenth Straight Quarter of Sales Drop on Weak Electronics Spending
May 29 Best Buy is set to post its tenth consecutive quarter of sales decline on Thursday when the U.S. electronics retailer reports quarterly results, as spending on bigticket electronics remains pressured despite easing inflation. Although results from bigbox retailers Walmart and Target indicate that consumers have resumed spending on lessexpensive discretionary items such as apparel and accessories, […]
HSBC Completes Sale of Russian Unit to Expobank
MOSCOW, May 29 Reuters HSBC has transferred ownership of its Russian unit to Expobank for an undisclosed fee, the two lenders said on Wednesday, ending around two years of negotiations and uncertainty. HSBC39;s exit from Russia has been on the cards since February, when Russian President Vladimir Putin gave approval for the asset sale to privately […]
Sabadell Rules Out MA Defence Against BBVA Bid, CEO says
Sabadell CEO says BBVA offer raises competition concerns Predicts BBVA could be forced to carve out Sabadell39;s SMEs business Government reiterates opposition to deal MADRIDLONDON, May 29 Reuters Spain39;s Sabadell is not planning to try and buy a competitor as part of a potential defence strategy against rival BBVA39;s hostile takeover attempt, Chief Executive Officer Cesar GonzalezBueno […]
Arm Offers new Designs, Software for AI on Smartphones
May 29 Reuters Arm Holdings on Wednesday unveiled new chip blueprints and software tools to help smartphones handle artificial intelligence tasks, along with changes to how it delivers those blueprints that could help speed their adoption. Arm39;s technology powered the rise of smartphones and is increasingly found in PCs and in data centers, where chip designers have gravitated toward […]
Goldman Sachs Raises more than 20 bln for Direct Lending
May 29 Reuters Goldman Sachs Asset Management39;s alternative investments platform said on Wednesday its latest fund had raised more than 20 billion for senior direct lending. The fund, West Street Loan Partners V, is targeting to back private equitybacked global businesses and has already invested or committed 4 billion across 37 portfolio companies to date. […]
US Tells Owners to Stop Driving Older Nissan Vehicles over Air Bag Concerns
WASHINGTON, May 29 Reuters Owners of nearly 84,000 older Nissan vehicles in the United States equipped with recalled, unrepaired Takata air bags should immediately stop driving them due to a safety hazard, the U.S. National Highway Traffic Safety Administration said on Wednesday. The agency made its announcement after the Japanese automaker issued a warning on […]
American Airlines CEO Vows Reset as Downbeat Outlook Sinks Shares
May 29 Reuters American Airlines CEO Robert Isom on Wednesday promised a reset of the carrier39;s sales and distribution strategy after the carrier cut its earnings forecast for the current quarter despite robust demand for travel. The downbeat outlook led to a 15 drop in American39;s shares in morning trade, dragging down the broader the NYSE […]
Retail Sales Growth in Australia Falls, Japans Annual Core Inflation Drops, U.S. CB Consumer Confidence Turns to Upside, Crude Oil Price Soars, U.S. Stocks Decline, Bitcoin Lower
Previous Trading Days Events 28.05.2024 U.S. consumer confidence unexpectedly improved in May after deteriorating for three straight months amid optimism about the labour market, but worries about inflation persisted and many households expected higher interest rates over the next year. More consumers believed that the economy could slip into recession in the next 12 months. […]