Economic News – TradenTalks

Dow Futures Little Changed, Chegg Tanks 21.5% After Earnings

February 7, 2023 Administrator_Indiaexpectations, industrial, regular, session, speeches0 comment

U.S. stock futures were trading in a tight range during Monday’s evening deals, after major benchmark averages finished the regular session lower as rising yields put pressure on risk-sensitive assets ahead of key speeches set to be delivered by Federal Reserve officials later in Tuesday’s session. By 18:30 ET (23:30 GMT) Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures were trading in a range of 0.1%. In extended deals, Chegg (NYSE:CHGG) fell 21.5% after the company reported Q4 EPS of $0.40 versus $0.36 expected on revenues of $205.2…

Economic News

Taiwan Exports Seen Contracting For Fifth Straight Month in January: Reuters Poll

February 6, 2023 Administrator_Indiacontraction, Economy, estimated, Gokhale, Madhumita, projecting0 comment

Taiwan’s exports in January likely fell for the fifth month in a row amid fears of a global recession, uncertainties due to the war in Ukraine, and the COVID situation in China impacting tech demand, according to a Reuters poll. Taiwan, a global hub for chip production and a key supplier to Apple Inc (NASDAQ:AAPL), is one of Asia’s leading exporters of technology goods. The trade data is seen as an important gauge of world demand for tech gadgets. Exports were estimated to have dropped 20% in January from a…

Economic News

China Hotel, Catering Job Openings Surge On PAost-COVID Demand Recovery – Survey

February 3, 2023 Administrator_IndiaDongguan, Economic, firms surveyed, Guangdong, powerhouse, provincial, surveyed0 comment

Chinese hotels and restaurants are seeking employees amid demand recovery in the services sector after the end of Beijing’s zero-COVID protocols, with a survey by a leading recruiter showing a surge in job openings in the hospitality industry. During the first six days of work after China’s Lunar New Year holiday, job openings in the hotel and catering sectors surged 40% from the same period a year earlier, according to a survey published on Friday by Zhaopin, one of the county’s biggest recruitment firms. Passenger vehicle and freight truck drivers…

Economic News

Dow Futures Trade Lower As Tech Earnings Disappoint, Apple Sheds 2.8%

February 3, 2023 Administrator_Indiabenchmark, cautious, Companies, expected, revenues, Unemployment0 comment

U.S. stock futures were trading lower during Thursday’s evening deals, after major benchmark averages finished mixed as investors grew cautious after a slew of mixed earnings reports. By 6:35pm ET (11:40pm GMT) Dow Jones Futures were down 0.2%, S&P 500 Futures fell 0.6% and Nasdaq 100 Futures were down 1.2%. In extended deals, Apple (NASDAQ:AAPL) shed 2.1% after the company reported Q1 EPS at $1.88 versus $1.94 expected, while revenues came in at $117.12 billion versus $121.88 billion expected. Amazon (NASDAQ:AMZN) fell 4.2% after reporting EPS of $0.03 versus $0.17…

Economic News

Meta Stuns Street With Lower Costs, Big Buyback, Upbeat Sales

February 2, 2023 Administrator_Indiacautioning, concerns, personal data, productive, resulting0 comment

Meta Platforms Inc’s stricter cost controls this year and a new $40 billion share buyback sent shares soaring on Wednesday, as CEO Mark Zuckerberg called 2023 the “Year of Efficiency.” The parent of Instagram and Facebook (NASDAQ:META), which has fallen on hard times amid a broad post-pandemic slump in digital ads, is focused on improving its content recommendations powered by artificial intelligence and its ad targeting systems to keep users clicking. Meanwhile, it will cut costs in 2023 by $5 billion to a range of $89 billion to $95 billion,…

Economic News

ECB To Raise Rates Again And Face Questions About Future Path

February 2, 2023 Administrator_Indiaaccelerating, disappointments, Environment, Inflation, unwinding0 comment

The European Central Bank is set to raise interest rates again on Thursday and pencil in more hikes for the next few months, with the only open question being how big these will be. The ECB has been increasing rates at a record pace to fight a sudden bout of high inflation in the euro zone – the byproduct of factors including the aftermath of the COVID-19 pandemic and an energy crisis that followed Russia’s invasion of Ukraine. The central bank for the 20 countries that share the euro is…

Economic News

Vodafone Interim CEO Vows to ‘Do Better’ After Q3 Revenue Growth Slows

February 1, 2023 Administrator_Indiaconnectivity, customers, delivering, European trading, former, replaced0 comment

in third-quarter revenue growth that stemmed from weak performance in key European markets. Organic growth in service revenue dropped to 1.8% year-on-year during the three-month period to December 31 to €9.52 billion (€1 = $1.0883), down from an increase of 2.5% in the prior quarter. The company said the slip was linked to declines in customer levels in its biggest market Germany, where organic service revenue slumped by 1.8% compared to the previous year to €2.88B, as well as stiff price competition in Italy and Spain. But resilient demand and…

Economic News

UniCredit Hikes Payout Goal By 40% After Record Rofit

January 31, 2023 Administrator_Indiaauthorisation, including, maximise returns, quarterly profit, remuneration0 comment

UniCredit pledged on Tuesday to return 5.25 billion euros ($5.69 billion) to investors based on its 2022 results after posting a record quarterly profit, as CEO Andrea Orcel works to meet his ambitious payout plans. Orcel, who has focused UniCredit on capital light businesses to maximise returns since taking over in April 2021, expressed confidence in receiving the necessary green light from European Central Bank supervisors. Lenders needs ECB approval for share buybacks, which account for almost two thirds of UniCredit’s 2022 capital distribution target in addition to cash dividends.…

Economic News

Rising Interest Rates Have a Sting in The Tail For Europe’s Banks

January 30, 2023 Administrator_Indiacommercial, dealmaking, financial crisis, Investment, judgements, property0 comment

Rising borrowing costs are giving a long-awaited lift to Europe’s beleaguered banks, but they come with a sting in the tail. Last year central banks ended a decade of rock-bottom interest rates as the U.S. Federal Reserve and then the European Central Bank moved towards tightening. Two of Europe’s big corporate and mortgage lenders, Sweden’s SEB and Spain’s Sabadell, recently unveiled strong profits for 2022 as that trend helped lending lift earnings. But while rising rates are good news for bank profits, they herald a slowdown in an economy hit…

Economic News

MSCI Seeks Feedback On Adani Group Over Hindenburg Report

January 28, 2023 Administrator_Indiadescribed, extremely, Hindenburg, Research, statement0 comment

Index provider MSCI said on Saturday it was seeking feedback on Adani Group and associated securities and was aware of a report issued by short-seller Hindenburg Research. Seven listed companies of the Adani conglomerate – controlled by one of the world’s richest men Gautam Adani – have lost a combined $48 billion in market value and U.S. bonds of Adani firms have fallen since Hindenburg on Tuesday flagged concerns about debt levels and the use of tax havens. “MSCI is closely monitoring publicly available information regarding the situation and the…