Tag: Business news

Feb22023 by Waqas-ChNo Comments

What are the best cruise hacks? This one avoids crowds

Canadian Tammy Cecco wasn't a fan of cruising."The thought of being on a ship with thousands of other people and not being able to get off," she said, "was something that I wanted to avoid."That didn't change when Cecco, a travel magazine publisher, boarded a surprise cruise booked by her husband to renew their vows in front of family and friends."When I got on … I thought 'Oh my god, what am I doing here?'" she said. "I'm not the type of person who likes to be herded at all."She said she imagined "a little tiny cabin and no window." Yet she found that some cruise ships have spacious suites with floor-to-ceiling windows. Plus, floors with fewer cabins give the feeling of a "boutique" travel experience, she said.Travel professional Tammy Cecco named the Celebrity Edge cruise ship, shown ...

Feb22023 by Waqas-ChNo Comments

Dollar strength nears end with small Fed rate hike, breaks 101 handle

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The DXY has fallen more than 10% in the past three months, Refinitiv data showed — and is a few points away from erasing almost all its gains that it's seen in the past year, before the Federal Reserve embarked on its journey of interest rate hikes to tame inflationary pressures.Kacper Pempel | ReutersThe U.S. dollar index continued to slump on Thursday as the Federal Reserve opted for a smaller interest rate hike of 25 basis points.The DXY fell 0.3% during Asia's morning session to 100.91, hovering at the lowest levels that it's seen since April 2022, according to Refinitiv data.The index fell overnight to hit a session low of 101.036 after the Fed Chair Jerome Powell acknowledged the central bank's efforts to tame inflation is seeing some progress — despite giving little indication th...

Feb12023 by Waqas-ChNo Comments

Union Budget 2022-23: Rs 3,030 crore allocated to Environment Ministry

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NEW DELHI: The Centre on Tuesday increased the budgetary allocation for the Union Environment Ministry from the last fiscal by 5.6 per cent but shrunk the allocation to control pollution by Rs 10 crore.The government, however, increased the Budget for National Mission for Green India from Rs 290 crore in the last financial year to Rs 361.69 crore this year with the national afforestation programme alone being allotted Rs 300 crore, more than last year's amount of Rs 235 crore.Union Finance Minister Nirmala Sitharaman, allocated Rs 3,030 crore for the ministry for financial year 2022-23, of which Rs 460 crore were allotted towards control of pollution, which is Rs 10 crore less than the last year's Budget.The minister, in her speech, underlined India's commitment to reduce its carbon foo...

Feb12023 by Waqas-ChNo Comments

UBS downgrades Snap after earnings, citing rising competition

Business

Snap may have trouble keeping up with ever-rising competition going forward, according to UBS. Analyst Lloyd Walmsley downgraded the social media company to neutral from buy. He also reiterated a price target of $10, which implies downside of 13.5% from Tuesday's close, and trimmed his 2023 revenue outlook on Snap. "We see increasing competition everywhere," Walmsley wrote in a client note Wednesday. "While the focus has been on TikTok, Meta is ramping Reels monetization (feedback has been +) and YouTube is scaling Shorts (atop Google's ad platform). Given the magnitude of competition and Snap's relatively subscale nature, we see risk to revenue acceleration. We roll our PT to '24 EV/revenue (from '23 prev) and trim our multiples to 3x (from 4x previous) reflecting slower growth." Walms...

Feb12023 by Waqas-ChNo Comments

Latest news on Russia and the war in Ukraine

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Spain to send up to six Leopard 2A4 tanks to Ukraine, El Pais reportsA Leopard 2 A4 main battle tank.Picture Alliance | Picture Alliance | Getty ImagesSpain plans to send between four and six German-built Leopard 2A4 tanks to Ukraine, newspaper El Pais reported on Wednesday, citing unidentified government sources.The actual number will depend on the condition of the battle tanks in storage and how many other countries will eventually supply to Ukraine, the sources told El Pais.A spokesperson for the Spanish Defence Ministry did not immediately respond to a request for comment.Kyiv secured pledges from the West this month to supply main battle tanks to help fend off Russia's invasion, with Moscow mounting huge efforts to make incremental advances in eastern Ukraine.Ukraine's Foreign Mini...

Jan312023 by Waqas-ChNo Comments

‘Land grab’ for lithium is just getting started with GM, expert says

Business

Brine pools at the Albemarle Corp. Lithium mine in Calama, Antofagasta region, Chile, on Tuesday, July 20, 2021.Cristobal Olivares | Bloomberg | Getty ImagesGeneral Motors' announcement on Tuesday that it plans to invest $650 million into Lithium Americas to secure access to lithium is probably the first of many such deals, according to Simon Moores, the CEO of Benchmark Mineral Intelligence, a market intelligence company that tracks the supply chain of lithium-ion batteries to electric vehicles."Many of these industries have to be built from scratch, certainly lithium-ion batteries and electric vehicles, the whole blueprint, the whole infrastructure is being built, literally, from scratch," Moores told CNBC.related investing newsAutomakers are starting to realize that the only way to g...

Jan312023 by Waqas-ChNo Comments

General Motors (GM) earnings Q4 2022

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Mary Barra, CEO, GM at the NYSE, November 17, 2022.Source: NYSEDETROIT — General Motors is set to report its fourth-quarter earnings before the bell Tuesday. Here's what Wall Street is expecting, according to Refinitiv consensus estimates:Adjusted earnings per share: $1.69Revenue: $40.65 billionGM in November tightened its projected range for 2022 adjusted earnings to between $13.5 billion and $14.5 billion, compared with previous guidance of between $13 billion and $15 billion. It also increased its cash flow guidance to between $10 billion and $11 billion, up from $7 billion to $9 billion.While investors will be watching the fourth-quarter results for signs of any waning consumer demand or profit dilution, the automaker's 2023 guidance is expected to be in the spotlight.Goldman Sachs ...

Jan302023 by Waqas-ChNo Comments

Obamacare special enrollment for people who lose Medicaid

Business

An Obamacare sign is seen outside of the Leading Insurance Agency, which offers plans under the Affordable Care Act (also known as Obamacare) on January 28, 2021 in Miami, Florida.Joe Raedle | Getty ImagesMillions of people in the U.S. are at risk of losing Medicaid this year when coverage protections put in place during the Covid-19 pandemic come to an end in April.To make it easier for these individuals to transition to other coverage, the Health and Human Services Department has announced a special enrollment period for Obamacare.People who lose Medicaid coverage from March 31 through July 31, 2024 can apply for Obamacare outside of the normal enrollment period at healthcare.gov if they live in a state served by the federal marketplace, according to new guidance from HHS.A majority o...

Jan302023 by Waqas-ChNo Comments

LIC reviewing Adani response to Hindenburg’s allegation

Business

NEW DELHI: Life Insurance Corporation (LIC) said on Monday it was reviewing the Adani Group's response to scathing criticism by a US short-seller and would hold talks with the group's management within days.Shares of companies in the group, led by Asia's richest person Gautam Adani, have lost about $72 billion since Hindenburg Research flagged concerns early last week about the business house's debt levels and the use of tax havens. Adani says it complies with all local laws and has made the necessary regulatory disclosures."Presently there is a situation that's emerging and we are not sure what is the factual position ... Since we are a large investor we have the right to ask relevant questions and we will definitely engage with them," LIC managing director Raj Kumar told Reuters.State...

Jan302023 by Waqas-ChNo Comments

Adani China returns from New Year, CSI 300, New Zealand trade

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Adani Enterprises tick up while group affiliates continue plungeShares of Adani Enterprises rose 10% after seeing sharp-losses in the previous sessions as its Chief Financial Officer voiced confidence in its follow-on public offering that is slated to close on Jan. 31.The stock is is still down more than 20% in the first month of the year.Adani Group's CFO says 'confident' on secondary share saleAdani Group's chief financial officer Jugeshinder Singh said on Monday that he is confident Adani Enterprises' follow-on public offering will be fully subscribed.The $2.5 billion secondary share sales were overshadowed by a rout of roughly $48 billion as the conglomerate's affiliates stock prices plunged for a second consecutive session after short seller firm Hindenburg accused the group to be ...