April 2023 – Page 119 – The Cheap Investor

Twitter drops ‘government-funded’ label on media accounts, incl in China

The Cheap Investor3 years ago3 years ago02 mins

(Reuters) – Twitter dropped the “Government-funded” and “China state-affiliated” labels, which implies government involvement in editorial content, from the accounts of various global media organizations, their profiles showed on Friday. Twitter dropped the “Government-funded Media” label from the accounts of U.S.-based National Public Radio (NPR), British Broadcasting Corp and Canadian Broadcasting Corporation (CBC). It also…

Nasdaq appoints Cohen and Griggs each as presidents, formalizing new structure

The Cheap Investor3 years ago3 years ago02 mins

(Reuters) – Nasdaq Inc on Friday said its board appointed Tal Cohen and Nelson Griggs each as presidents, formalizing the corporate structure the transatlantic exchange operator recently put in place to boost its efforts in major growth areas, like anti-financial crime software. With the appointments, Nasdaq Chief Executive Officer Adena Friedman, who was also appointed…

Stocks edge down, US yields climb after PMI data

The Cheap Investor3 years ago3 years ago04 mins

By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks declined for a third straight day on Friday as investors weighed the latest round of corporate earnings results, while longer-dated U.S. yields were higher after a gauge of business activity climbed. On Wall Street, the S&P 500 closed slightly higher, with the consumer…

Bank of England must ‘stay the course’, deputy governor Ramsden says

The Cheap Investor3 years ago3 years ago02 mins

By David Milliken LONDON (Reuters) -The Bank of England needs to focus on tightening monetary policy sufficiently to control inflation, and ensuring that no “inflationary mentality” develops, Bank of England Deputy Governor Dave Ramsden said in an interview published on Friday. “When I look at where inflation is and where it needs to get to,…

Walmart offloads second e-fashion brand in days with focus on margins

The Cheap Investor3 years ago3 years ago02 mins

(Reuters) – Walmart Inc is selling plus-size fashion brand Eloquii Inc just over a week after it agreed to offload menswear label Bonobos, underscoring an effort to improve margins by narrowing focus and building on alternative revenue streams. The buyer, FullBeauty Brands, did not disclose the size of the deal in its statement on Friday….

Henkel expects net financial loss from sale of Russia business

The Cheap Investor3 years ago3 years ago01 mins

(Reuters) – Henkel on Friday said it expects to see a net financial loss in the deal to sell its Russian business. The consumer goods group did not disclose the amount of losses but pointed out that the currency exchange effect would play a role in the transaction. Further details on the deal will be…

Oil rises but post weekly loss as economic uncertainty weighs

The Cheap Investor3 years ago3 years ago03 mins

By Erwin Seba HOUSTON (Reuters) -Oil prices edged higher on Friday on strong economic data in the euro zone and Britain, but futures fell for the week as interest rate and demand uncertainty weighed. Brent futures settled up 56 cents at $81.66 per barrel. U.S. West Texas Intermediate crude (WTI) rose 50 cents to $77.87…

Vanguard Bought Large Banks’ Bonds On The Cheap During March Turmoil

The Cheap Investor3 years ago02 mins

By Davide Barbuscia NEW YORK (Reuters) – Vanguard, the world’s second-largest asset manager, increased exposure to large bank’s bonds during the banking rout in March, taking advantage of cheap valuations, according to a report seen by Reuters. The collapse of two U.S. regional banks last month triggered wild price fluctuations across fixed income markets, with…

Vanguard bought large banks’ bonds on the cheap during March turmoil

The Cheap Investor3 years ago3 years ago02 mins

By Davide Barbuscia NEW YORK (Reuters) – Vanguard, the world’s second-largest asset manager, increased exposure to large bank’s bonds during the banking rout in March, taking advantage of cheap valuations, according to a report seen by Reuters. The collapse of two U.S. regional banks last month triggered wild price fluctuations across fixed income markets, with…

US unions call on railroads to halt buybacks, ditch lean operating model

The Cheap Investor3 years ago3 years ago02 mins

By Amna Karimi (Reuters) – U.S. labor unions called on railroad operators to halt all stock buybacks until they improve safety and abandon their lean operating model, which regulators and shippers say has led to deterioration in the quality of service. The unions have blamed Precision Scheduled Railroading (PSR), a concept that encourages running longer…