SANTIAGO (Reuters) – Chilean President Gabriel Boric faces an economic slowdown and high inflation, which conflicts with his goal to expand social programs, and could increase pressure for more financial stimulus, according to a Bank of America report released on Thursday. The government recently announced a $3.7 billion economic recovery plan to support sectors still…
By Elizabeth Howcroft LONDON (Reuters) – Crypto entrepreneur Sina Estavi made headlines in March 2021 when he paid $2.9 million for an NFT of Twitter boss Jack Dorsey’s first tweet. But his efforts to re-sell it have run aground, with a top bid of just $6,800 as of Thursday. The initial purchase was at the…
By Sinéad Carew (Reuters) – Wall Street stocks finished lower while bond yields and the dollar rose on Thursday as investors worried about the potential for aggressive U.S. policy tightening as other central banks around the world moved to reduce support. The benchmark 10-year U.S. Treasury yield jumped, following two days of declines, after a…
By Michelle Price and Matt Scuffham WASHINGTON (Reuters) -Some big U.S. banks have again started stockpiling cash to cushion potential loan losses due to growing worries over the war in Ukraine and the impact of inflation on the U.S. economy, although trading continues to be bright spot for Wall Street. JPMorgan Chase & Co, Goldman…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – U.S. stock investors are increasingly turning to the options market for protection against more downside on Wall Street as they worry the Federal Reserve will be less sensitive to equity market volatility as it hikes interest rates to fight inflation. Demand for puts, typically bought for downside…
GDANSK (Reuters) – A board member of Polish video game maker CD Projekt said on Thursday there is no “monumental” delay to its blockbuster game “The Witcher 3: Wild Hunt” for next-generation consoles, a day after the company postponed the release. CD Projekt had said on Wednesday it had taken work on the version back…
By Uday Sampath Kumar and Chavi Mehta (Reuters) -Billionaire entrepreneur Elon Musk took aim at Twitter Inc with a $43 billion cash takeover offer on Thursday, with the Tesla CEO saying the social media company needs to be taken private to grow and become a platform for free speech. “I think it’s very important for…
SALINAS, Calif. (AP) — Firefighters contained a massive blaze at a central California food processing plant that prompted authorities to tell thousands of nearby residents to evacuate Thursday and to order tens of thousands more to stay inside their homes. The fire started Wednesday night at the Taylor Farms packaged salad plant in Salinas, about…
Over the past couple of weeks, market action has been driven by macro forces. This is normal seasonality as investors await the Q1 earnings report cards. We are finally getting those corporate earnings. This allows us to see how the macro issues are impacting individual companies. Investors will be able to parse through winners and…
By Uday Sampath Kumar and Chavi Mehta (Reuters) -Billionaire entrepreneur Elon Musk took aim at Twitter Inc with a $43 billion cash takeover offer on Thursday, with the Tesla CEO saying the social media company needs to be taken private to grow and become a platform for free speech. “Twitter has extraordinary potential. I will…
