UK Unemployment Rate Rises, But Labor Market Remains Tight

By Xavier Fontdegloria The UK’s unemployment rate rose slightly in the three months to April while employment continued to increase in May, suggesting that a slowdown in economic activity hasn’t hit the labor market. The UK’s unemployment rate increased to 3.8% in the three months through April compared with 3.7% in the previous three-month period, […]

Cathay Pacific forecasts narrower loss in first half By Reuters

© Reuters. FILE PHOTO: A sign of Cathay Pacific is seen at its headquarters Cathay City in Hong Kong, China October 21, 2020. REUTERS/Lam Yik/File Photo (Reuters) – Hong Kong’s Cathay Pacific Airways (OTC:) Ltd expects to report a lower first-half loss than last year, driven by strong cargo performance and cost-cutting, the airline said […]

Morgan Stanley’s Gorman ‘pretty relaxed’ about possible recession, thinks one wouldn’t be long or severe

James Gorman isn’t worried about how a possible recession and bear market will affect his bank. The Morgan Stanley MS, -2.87% chief executive said Monday that he is “pretty relaxed” about the impact of a possible US recession, a scenario he called a 50-50 proposition based on historical experience. Source link

Australia’s Lynas secures $120 million Pentagon contract for U.S. rare earths facility By Reuters

© Reuters. A small toy figure and mineral imitation are seen in front of the Lynas Rare Earths logo in this illustration taken November 19, 2021. REUTERS/Dado Ruvic/Illustration (Reuters) – Australia’s Lynas Rare Earths said on Tuesday it has signed a $120 million follow-on contract with the US Department of Defense to build a commercial […]

JP Morgan, Goldman economists now expect Fed to raise rates by 75 basis points on Wednesday

Economists at JP Morgan and Goldman Sachs said in client notes Monday that they now expect the Federal Reserve to raise its policy rate by 75 basis points on Wednesday. JP Morgan JPM, -2.98% economist Michael Feroli pointed to the “startling rise in longer-term inflation expectations” in a Friday consumer sentiment report and a Wall […]

Stock futures rise after the S&P 500 closes in an official bear market

US stock futures rose on Monday night after the S&P 500 dropped back into bear market territory ahead of the Federal Reserve’s two-day policy meeting this week. Dow Jones Industrial Average futures rose by 67 points, or 0.2%. S&P 500 and Nasdaq 100 futures climbed 0.3% and about 0.5%, respectively. Those moves came after intense […]

Report casts doubt on net-zero emissions pledges by big global companies By Reuters

© Reuters. FILE PHOTO: A view shows emissions from the chimneys of Yara France plant in Montoir-de-Bretagne near Saint-Nazaire, France, March 4, 2022. REUTERS/Stephane Mahe/File Photo By Gloria Dickie and Simon Jessop LONDON (Reuters) – Corporate plans to slash greenhouse gas emissions fall short of what is needed to combat climate change, with “major credibility […]

COVID-variant booster from Sanofi, GSK shows promising results

A COVID-19 vaccine developed by Sanofi SA and GSK PLC to target the beta strain of the virus produced a stronger antibody response against variants of omicron when given as a booster compared with certain first-generation shots, two studies have found. The results are the latest indication that tweaking vaccines can nudge antibody responses in […]

Astra Space, Amazon, Revlon, Prologis & more

Amazon is “definitely a stock to own,” according to Sid Choraria, a senior portfolio manager who previously attracted the attention of Warren Buffett. Klaus-Dietmar Gabbert | Picture Alliance | Getty Images Check out the companies making headlines in midday trading Monday. Coinbase, Microstrategy — Shares of cryptocurrency-related companies sold off as the price of bitcoin […]

Amazon down for thousands of users

© Reuters. FILE PHOTO: The Amazon logo is seen outside its JFK8 distribution center in Staten Island, New York, US November 25, 2020. REUTERS/Brendan McDermid/File Photo (Reuters) – Amazon.com Inc (NASDAQ:)’s ecommerce services were down for thousands of users on Monday, according to outage tracking website Downdetector.com. Downdetector, which showed there were more than 10,000 […]

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