(Reuters) -Procter & Gamble bumped up its annual sales forecast on Wednesday, as the consumer goods giant benefits from higher prices and resurgent cleaning products demand amid a spike in COVID-19 infections. The company’s shares rose nearly 2% in premarket trading as strong quarterly sales helped cushion the blow from a bigger-than-previously forecast increase in…
By Gertrude Chavez-Dreyfuss and Joice Alves NEW YORK/LONDON (Reuters) – The dollar on Wednesday slid from one-week highs hit a day earlier, with U.S. Treasury yields retreating as well after hitting roughly two-year highs on 2-year and 10-year notes, but the greenback remains well-supported, as investors prepared for a widely expected interest rate increase in…
By David Lawder WASHINGTON (Reuters) -The $350 billion in coronavirus relief aid for state and local governments has allowed U.S. cities to respond faster and stronger to an ever changing COVID-19 pandemic, U.S. Treasury Secretary Janet Yellen said on Wednesday. Yellen told a meeting of the U.S. Conference of Mayors that the response by state…
(Reuters) – Retail investors were less enthusiastic about buying the dip in U.S. stocks on Tuesday, the latest sign of a possible fatigue after last year’s tech-fueled trading frenzy, Vanda Research analysts said in a weekly note. Individual investors bought $1.6 billion in stocks on Tuesday when U.S. shares sold off sharply after weak results…
(Reuters) – BetMGM is expected to turn a profit next year, while revenue in 2022 is likely to exceed a previous forecast as the U.S. sports-betting joint venture between MGM Resorts and Entain expands into more markets and launches new products. Britain’s Entain said on Wednesday the joint venture, which operates online and in MGM…
(Reuters) -Bank of America Corp reported a better-than-expected 30% jump in quarterly profit on Wednesday, as it benefited from loan growth as well as record-breaking M&A volumes that helped drive its investment banking business. Flush with cash and emboldened by soaring stock market valuations, large buyout funds, corporates and financiers struck billions of dollars worth…
(Reuters) – Bank of America Corp reported a jump in fourth-quarter profit on Wednesday, benefiting from loan growth and a frenetic pace of global dealmaking activity that helped drive its investment banking business. Bank of America, along with other Main Street lenders like JPMorgan Chase & Co and Wells Fargo & Co, is expected to…
By Hannah Lang (Reuters) – Britain-based digital banking app Revolut launched commission-free stock trading in the United States on Wednesday, a move that will see it compete with online brokerages such as Robinhood Markets Inc and Charles Schwab Corp. The launch by Revolut comes amid a broader surge in retail trading, which escalated last year…
HONG KONG/BEIJING (Reuters) – China’s cyberspace regulator has drafted new guidelines that will require the country’s large internet companies to obtain its approval before they undertake any investments or fundraisings, sources familiar with the matter said on Wednesday. The proposed requirements from the Cyberspace Administration of China (CAC) will apply to any platform company with…
By Silke Koltrowitz ZURICH (Reuters) -Strong demand for its jewellery and watches in the Americas and Europe in a post-pandemic rebound helped quarterly sales at Cartier owner Richemont rise by nearly a third, the world’s second-largest luxury group said on Wednesday. Sales at Richemont rose to 5.658 billion euros ($6.41 billion) in the company’s third…
