Business News

05.02,2024 - Worsening attacks in the Red Sea have quickly unwound some of the gains on Bloomberg’s Trade Tracker with supply chain bottlenecks threatening to choke the recovery in global exports. Four out of 10 gauges on the dashboard were in below-normal range in February, from just three at the start of the year as Taiwan’s export orders plunged more than expected. Shipping volumes in Los Angeles slipped back into normal territory after showing a positive reading, while port activity in Singapore and Hong Kong likewise dropped. Sentiment is souring amid fears the improvement in global trade could be short-lived as Yemen’s Houthi rebels steadily ramp up their attacks on commercial vessels in the Red Sea. That’s doubled freight costs...

05.02,2024 - Yandex NV reached an agreement to sell its Russian business, including the nation’s most popular search engine, for about $5.2 billion, the highest-valued deal yet to exit Russia following the invasion of Ukraine. The divorce, which took more than a year to negotiate, opens the way for Yandex, which has been registered in the Netherlands since 2007, to develop some projects abroad after divesting Russian units that had generated most of its revenue. Yandex management will get the biggest stake in the Russian business, while a fund owned by Lukoil PJSC will hold 10%, the oil company said Monday. The 475 billion ruble sale dwarfs what was until now the largest deal by value — Prosus NV’s sale of its Russian classified-ads...

Citigroup (C) berada di tengah-tengah penstrukturan semula yang rumit. Ia menjelaskan pada hari Rabu bahawa laporan pendapatan suku keempatnya pada hari Jumaat akan menjadi rumit juga. Bank gergasi yang berpangkalan di New York itu berkata dalam dokumen pengawalseliaan ia akan mengambil lebih daripada $3 bilion dalam rizab dan perbelanjaan sekali sebagai sebahagian daripada keputusan suku keempat tersebut. Ia termasuk segala-galanya daripada binaan rizab $1.3 bilion untuk pendedahan mata wang di Argentina dan Rusia kepada caj $780 juta yang berkaitan dengan kos pemberhentian dan aspek lain dalam penstrukturan semula meluas bank yang diketuai oleh Ketua Pegawai Eksekutif Jane Fraser. Ia juga akan melaporkan caj sebanyak $1.7 bilion...

World's Largest Reserve Of REE Lithium Discovered Beneath California's Salton Sea: $540 Billion Motherlode Could Meet America's Supply Demands For Decades; 27.12.2023 - When it comes to rare-earth elements (REEs), lithium stands out because of its usefulness and potential value. That's why the Department of Energy (DOE) was jumping for joy when it discovered what is believed to be the world's largest supply of lithium beneath California's Salton Sea. The estimated 18 million-ton motherlode could be worth up to $540 billion and meet America's demand for decades to come. In the 1990s, lithium was perhaps most famous for being the title of a hit song by the band Nirvana. Fast forward 30 years, and Lithium has become famous as an...

28.11.2023 - Gold's (GC=F) upward trend above $2,000 per ounce is prompting calls for a rally to a new all-time high. Futures were 0.5% higher on Monday, just north of $2,013 per ounce. Prices are at six-month highs and up two weeks in a row. That has boosted hopes that the precious metal could top its all-time high of $2,074.88 reached in August 2020. "Gold [is] showing additional proof that a rally back to new all-time Highs is underway," Mark Newton, head of technical strategy at Fundstrat, wrote in a recent note to clients. "My technical target for gold is $2500/oz, and it looks appealing to be long precious metals given falling real rates, rising cycles and ongoing geopolitical conflict," said Newton. Most traders consider $2,050...

19.11.2023 - On Friday, the board of OpenAI, the AI startup behind ChatGPT and other viral AI-powered hits, did something unexpected but seemingly well within its right: removed the company's CEO, Sam Altman. But judging by how the situation's unfolded, it seems that OpenAI's investors and partners — and many of its employees — were more comfortable with the idea of the board's power than it exercising that power. And they didn't count on the cult of personality surrounding Altman, the former president of Y Combinator and a longtime fixture of the Silicon Valley startup scene. On Saturday evening, just over 24 hours after the OpenAI board unceremoniously announced that Altman would be replaced by Mira Murati, OpenAI's CTO, on a...

(Reuters) - Building solutions provider Johnson Controls warned of a delay in reporting its fourth-quarter results due to a previously disclosed cybersecurity incident, sending its shares down 1.3% after the bell. The company now expects to report its fourth-quarter and year-end results by Dec. 14. "The cybersecurity incident caused disruptions to portions of the company's systems that support or provide data used in financial reporting," Johnson Controls said. The incident, which was first detected on Sept. 23, involved unauthorized access and a ransomware attack by a third party, according to the company. In ransomware attacks, hackers encrypt an organization's systems and demand ransom payments in exchange for unlocking them...

FILE PHOTO: A street sign for Wall Street hangs in front of the New York Stock Exchange NEW YORK (Reuters) - U.S. companies are set for their biggest year-over-year gain in quarterly earnings since the second quarter of 2022 after a high percentage of S&P 500 companies beat Wall Street expectations. With results in from almost all of the S&P 500 companies, overall third-quarter earnings are estimated to have increased 6.3% from the year-ago period, LSEG data showed on Friday. That is well above the 1.6% third-quarter earnings gain estimated by analysts Oct. 1. LSEG said that 81.3% of the quarterly reports surpassed analysts' earnings expectations, which is the highest beat rate since the second quarter of 2021. To be sure...

Disney CEO Bob Iger said ESPN will transition to streaming "no later than 2025." Disney (DIS) CEO Bob Iger is more bullish than ever on ESPN's direct-to-consumer transition. "ESPN is a very popular, high in-demand product in the United States," the executive said on the company's quarterly earnings call on Wednesday. "We feel leaning into it is the smart thing to do because of its unique quality and how popular it is and how profitable it has been." "We have an opportunity, as we bring it in the direct-to-consumer direction, to strengthen our hand," he continued. "We do that by partnering with either tech companies that can provide us with marketing, technology support, and customer acquisition help or sports leagues that can...

Warner Bros. Discovery reported a wider-than-expected loss in the third quarter as the media giant works to pare down its debt amid various challenges, including the Hollywood strikes and an unfavorable ad environment. Warner Bros. Discovery (WBD) stock fell more than 19% Wednesday after the company noted ongoing weakness in the ad market, saying it could impact visibility for 2024. CFO Gunnar Wiedenfels said on the company's post-earnings conference call that 2024 "will have its share of complexity, particularly as it relates to the possibility of continued sluggish ad trends." He added that "it is unlikely from today's perspective that we will hit our target leverage range by the end of 2024 without a meaningful recovery of the TV...

Christine McCarthy lepas jawatan, digantikan Hugh Johnston dari PepsiCo berkuatkasa 4 Disember 2023. Pembentangan kewangan syarikat pada 8 November 2023. Membeli 33% pegangan saham TV Streaming Hulu. Disney mengumumkan bahawa bekas pengarah eksekutif PepsiCo (PEP), Hugh Johnston, akan berubah angin dan berhasrat untuk menerajui Disney sebagai Pegawai Senior Eksekutif kanan dan juga sebagai Ketua Pegawai Kewangan, berkuat kuasa pada 4 Disember 2023. Johnston telah berkhidmat di PepsiCo selama 34 tahun di mana beliau memegang beberapa portfolio yang penting termasuk jawatan CFO selama lebih dari satu dekad yang lalu. Disney CFO Hugh Johnston (Courtesy: The Walt Disney Company) Semasa di PepsiCo, beliau berperanan dan berjaya menepis...

Warren Buffett Warren Buffett hinted at his thinking and recent actions in Berkshire Hathaway's latest earnings. The investor appears to have shifted cash into Treasuries and sold about 10% of his Chevron stake. He seems to have accelerated buybacks, spending $800 million between end-September and October 24. Warren Buffett's Berkshire Hathaway published its third-quarter earnings on Saturday, providing fresh clues about the famed investor's thinking and his moves in recent weeks. "There's certain things you can actually figure out by looking at our 10-Q," Buffett said during Berkshire's annual shareholder meeting in May. "But you have to look pretty hard." Here are three hidden nuggets from Berkshire's latest earnings: 1. Banking...

The company will also share a Reinvention Plan update on Thursday after market close. Starbucks (SBUX) is set to report its fiscal Q4 earnings early Thursday morning, and it may be brewing up a tale of two countries. The coffee giant's analysts think US consumers are still willing to splurge for their pumpkin spice and chai tea lattes, but the company's ambitious Chinese plans may run against multiple headwinds. Based on Bloomberg consensus data, Starbucks' revenue is expected to increase 10.3% from a year ago to $9.28 billion, while adjusted earnings per share are expected to jump 19.2% year-over-year to $0.97. In the US, same-store sales are expected to be up 6.31%. North America foot traffic is expected to increase 1.45%, with...

(Bloomberg) -- More companies are flagging concerns over the looming threat of an economic slowdown this earnings season, striking a cautious tone. At just over the half-way mark of the reporting period, “weak demand” is among the top trending phrases on earnings calls, according to a Bloomberg analysis of transcripts for the S&P 500 and the Stoxx Europe 600 benchmarks. If the pace of mentions holds for the next few weeks, it would be the most on record, according to data compiled by Bloomberg going back to 2000. From consumer-facing companies to technology and industrial firms, quarterly reports are reflecting deeper worries ranging from slowing demand to the impact of inflation and higher interest rates on increasingly...

A woman wearing a protective mask walks past a couple eating at a McDonald's. McDonald's (MCD) beat earnings estimates for the third quarter as higher menu prices boosted sales growth. Global systemwide sales — which include sales at company-owned and franchised restaurants — increased 11%. Same-store sales jumped 8.8%, higher than analysts' estimates of 7.79%, per Bloomberg consensus data. Revenue jumped 14% year over year to $6.69 billion, higher than estimates of $6.52 billion. Adjusted earnings per share came in at $3.19, up 19% from last year. “The macroeconomic environment is unfolding in line with our expectations for the year, and we continued to deliver convenience and value for our customers," CEO and president Chris...

Traders work on the floor of the NYSE in New York NEW YORK (Reuters) - Wall Street rallied on Monday, kicking off what promises to be a hectic week that includes a heavy earnings docket, economic data and the Federal Reserve's two-day monetary policy meeting. All three major U.S. stock indexes closed up more than 1%, bouncing back from the previous week's sell-off. Interest rate sensitive megacap stocks, led by Microsoft Corp, Amazon.com, and Apple Inc provided the most upside muscle. "Today is an earnings rebound," said Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. "The market got oversold, and the reality is that earnings have been pretty good, the U.S. economy continues to chug along, and is likely...