By Stephen Culp NEW YORK (Reuters) -Wall Street gained ground and Treasury yields eased on Thursday as economic data hinted at signs of cracks in the tight U.S. labor market, indicating that the Federal Reserve’s restrictive monetary policy is beginning to work as intended. All three major U.S. stock indexes were up modestly, the dollar…
By Yoruk Bahceli (Reuters) – Recent moves in bond and equity markets show that investors are starting to worry that the Federal Reserve may hike rates too far, a senior fund manager at Europe’s largest investor told Reuters on Thursday. Cosimo Marasciulo, head of fixed income absolute return at Amundi, said falling market gauges of…
(Reuters) -Shares of crypto-focused companies fell on Thursday after Silvergate Capital Corp disclosed plans to wind down operations and voluntarily liquidate, as the aftermath of FTX’s implosion last year reverberates through the industry. Analysts said a complete closure of the crypto lender could take one or two years depending on how quickly outstanding loans are…
By Marc Jones LONDON (Reuters) – Global markets hit a rare lull on Thursday ahead of U.S. jobs data at the end of the week that could easily whip up cross-asset storms. Europe’s broad STOXX 600 share index dipped 0.56% [.EU] although there was little movement from either the dollar [/FRX] or in bond markets,…
By Nell Mackenzie LONDON (Reuters) – Hedge funds’ bullish equity positioning in Europe is in line with some of the highest levels of the past five years but the appetite for stocks may fade amid rising interest rates and dour signals from bond markets, JP Morgan said in a note to clients on Thursday. European…
BERLIN (Reuters) -BMW’s core carmaking business hit its 2022 earnings target, the company said on Thursday, helped by strong pricing and consolidation of its China joint venture. Group revenue rose 28% to 142.6 billion euros ($150.66 billion) versus a Refinitiv SmartEstimate of 141.6 billion. Its autos business reported an 8.6% margin on earnings before interest…
(Reuters) -Chinese e-commerce firm JD.com Inc reported a higher quarterly adjusted profit on Thursday as China lifted strict pandemic-related curbs late last year. The company’s U.S.-listed shares rose 1% in premarket trading. JD.com’s net income attributable to ordinary shareholders in the fourth quarter was 3 billion yuan ($430.92 million), compared with a net loss of…
SEOUL (Reuters) – South Korea’s labour minister said on Thursday that lifting the weekly work hour cap to 69 hours from 52 will give working mothers more choice and help them raise children amid growing concerns over the country’s falling birth rates. The government says allowing workers to accrue more overtime hours in return for…
By Luc Cohen NEW YORK (Reuters) – Sam Bankman-Fried’s lawyers said on Wednesday it may be necessary to delay the FTX cryptocurrency exchange founder’s scheduled Oct. 2 criminal trial, arguing it may take more time than expected to review the evidence and prepare a defense. In a letter to U.S. District Judge Lewis Kaplan, the…
(Reuters) – Domino’s Pizza Group Plc reported a drop in full-year profit on Thursday, due to higher costs and investments in cloud-based technology platforms, sending its shares down 6%. The group said its underlying core profit was 130.1 million pounds ($154.4 million) for the year ended Dec. 25, compared with 136.4 million pounds in the…
