LONDON (Reuters) – Global investors put a record $1.3 trillion into cash in 2023, according to a report from Bank of America and data provider EPFR on Friday. They also pumped a record $177 billion into U.S. Treasuries this year, though on a weekly basis the U.S. government bonds are in their third weekly outflow,…
By Siyi Liu and Dominique Patton BEIJING (Reuters) – This Dec. 21 story has been corrected to clarify that the ban was on the export of technology to make rare earth magnets and that the ban on technology to extract and separate critical materials was already in place, in paragraphs 1 and 6. It also…
(Reuters) -Chipmaker Micron Technology’s shares jumped 7% on Thursday after it predicted a strong recovery in the supply-demand balance for memory and flash storage in 2024. The company’s quarterly results on Wednesday exceeded market expectations and it forecast a strong February quarter in a clear sign that memory chip prices will improve next year to…
(Reuters) -CarMax on Thursday posted a more than two-fold rise in quarterly profit to beat analyst estimates after cost cuts helped it offset lower demand for used vehicles, sending the pre-owned car retailer’s shares up 7%. Used-vehicle demand, which rose during the pandemic, fell significantly over the past few quarters after consumers were faced with…
By Anton Bridge TOKYO (Reuters) -Toyota Motor shares slumped on Thursday as Japan’s transport ministry inspected a subsidiary over safety concerns dating back decades and as the world’s top-selling automaker separately announced a recall of 1.1 million vehicles. Shares in Japan’s biggest automaker closed down 4.0%, underperforming the benchmark Nikkei average, which fell 1.6%. A…
By Andrea Shalal WASHINGTON (Reuters) – Brian Deese, a key player in President Joe Biden’s 2024 re-election bid, said on Wednesday that Nippon Steel’s proposed purchase of U.S. Steel was concerning and that the administration should look closely at it. Several Democratic and Republican U.S. senators have criticized the deal this week, citing national security…
By Jonathan Saul, Helen Reid and Corina Pons LONDON/MADRID (Reuters) -Exporters are scrambling to find alternative air, land and ocean routes to get toys, apparel, tea and auto parts to retailers as disarray ripples through freight supply chains around the world during a wave of attacks in the Red Sea. Iran-backed Houthi militants in Yemen…
By Shivansh Tiwary (Reuters) -Shares of FedEx sank 12% on Wednesday following dismal results and an outlook that prompted a slew of price-target cuts from Wall Street analysts and contributed to a late-day broad market selloff. FedEx is seen as a bellwether for worldwide economic trade. Investors on Wednesday said specific problems at the global…
By Lisa Baertlein and Arriana McLymore LOS ANGELES/NEW YORK (Reuters) -Roxanne Ross of Florida is one of a growing number of Americans dodging higher interest rates on credit cards by instead turning to “buy now, pay later” services as they shop for holiday merchandise. Ross has her eyes on the latest Apple AirPods for $249….
MOSCOW (Reuters) – A Russian court fined Alphabet’s Google on Wednesday 4.6 billion roubles ($50.84 million) for failing to delete so-called “fake” information about the conflict in Ukraine and other topics, the TASS news agency reported. Russia has been at loggerheads with foreign technology companies over content, censorship, data and local representation in a simmering…
