Tag: Economy

Mar162023 by Waqas-ChNo Comments

FedEx (FDX) earnings Q3 2023

In this photo FedEx logo is seen in Washington D.C., United States on February 16, 2023.Celal Gunes | Anadolu Agency | Getty ImagesFedEx on Thursday hiked its full-year earnings forecast as it said cost-cutting measures offset continued demand weakness at units including FedEx Express.FedEx now expects adjusted earnings per share for fiscal year 2023 of between $14.60 and $15.20, up from a prior forecast of between $13.00 and $14.00. Wall Street had expected full-year EPS of $13.56, according to Refinitiv consensus estimates.The company's stock spiked more than 11% in after-hours trading."We are holistically adjusting to the cost base on all dimensions and all areas," said CFO Mike Lenz. "Every dollar is under scrutiny."Here's how FedEx performed in its fiscal third quarter of 2023, com...

Mar162023 by Waqas-ChNo Comments

Despite persistent inflation, investors are paring bets on…

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Despite persistent inflation, investors are paring bets on... Source link

Mar162023 by Waqas-ChNo Comments

3/15: CBS News Prime Time

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3/15: CBS News Prime Time - CBS News Watch CBS News John Dickerson reports on the global market reaction over banking concerns, an abortion pill hearing in Texas, and why Americans are still seeking remote work. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

Mar152023 by Waqas-ChNo Comments

SVB crisis could prompt BOJ to delay making changes: Ex-board member

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"The second half of next year is [the] possible timing for when the Bank of Japan will end its negative interest rate policy," said former Bank of Japan board member Takahide Kiuchi (pictured here in 2017).Bloomberg | Bloomberg | Getty ImagesJapan's central bank could delay any changes to its monetary policy in light of the turmoil that the Silicon Valley Bank crisis has triggered in financial markets, a former board member told CNBC.And any changes to its ultra-dovish stance could be delayed by as much as a year, said Nomura Research Institute economist Takahide Kiuchi, who served on the Bank of Japan's policy board from 2012 to 2017.Kiuchi previously expected that incoming governor Kazuo Ueda would accelerate the BOJ's normalization of monetary policy — including widening its current ...

Mar132023 by Waqas-ChNo Comments

US approves contentious oil drilling project in Alaska | Oil and Gas News

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Biden administration’s approval of Willow project in northwestern US state draws condemnation from environmental groups.The United States has approved a contentious oil-and-gas drilling project in the northwestern state of Alaska, drawing condemnation from environmentalists who say the move flies in the face of President Joe Biden’s climate pledges. The US Department of the Interior announced on Monday that it had approved a scaled-back version of ConocoPhillips’s $7bn Willow project on Alaska’s petroleum-rich North Slope. ConocoPhillips had sought to build up to five drill sites, dozens of kilometres of roads, seven bridges and multiple pipelines. The Interior Department approved the project with three drill pads after saying last month that it was concerned about its greenhouse gas im...

Mar12023 by Waqas-ChNo Comments

Pakistan inflation jumps 31.5%, highest in nearly 50 years

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KARACHI: The Consumer Price Index (CPI), the inflation monitor, jumped 31.5% in February year-on-year, the Pakistan Bureau of Statistics (PBS) said on Wednesday, the highest annual rate in nearly 50 years, as food, beverage and transportation prices surged more than 45%. February's 31.5% rate is the highest since 1974, a spokesperson for the PBS told Reuters, adding that yearly average inflation for the 1973-1974 financial year was 32.78%. Prices were up 4.3% last month from the month before, the bureau said in a statement. In January, the CPI increased 27.55% year-on-year. Also read: Moody’s says Pakistan may default Food and non-alcoholic beverage prices rose by 45.07% over last year, while alcoholic beverage and tobacco prices jumped 47.59% due to an increased tax on cigarettes. I...

Feb282023 by Waqas-ChNo Comments

State IRA programs work toward closing racial retirement savings gap

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Maskot | Maskot | Getty ImagesThe income and wealth gaps between people of color and white households are wide, but state-run retirement programs are attempting to help workers find parity.As many as 67% of private-industry workers had access to retirement plans in 2020, according to the U.S. Bureau of Labor Statistics. A significant number of employees, however, remain left out of these programs — and it tends to be workers of color who are missing out.Indeed, about 64% of Hispanic workers, 53% of Black workers and 45% of Asian American workers have no access to a workplace retirement plan, according to AARP. Small employers are also less likely to offer retirement plans to their workers, with about 78% of those who work for companies with fewer than 10 employees lacking access to a pl...

Feb282023 by Waqas-ChNo Comments

North Korea’s Kim orders ‘radical change’ in agriculture | Agriculture

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North Korean leader calls on officials to meet production targets after South Korea warns of “grave” food situation.North Korean leader Kim Jong Un has called for a “radical change” in agricultural production amid concerns over reported food shortages in the isolated country. Kim emphasised the importance of meeting grain production targets and transforming production to lay the “foundation for the stable and sustained development of agriculture” during the second day of a key party meeting, the state-run Korean Central News Agency reported on Tuesday. “He expressed the fixed determination and will of the Party Central Committee to bring about a revolutionary turn in the agricultural production without fail, saying that nothing is impossible as long as the strong leadership system is es...

Feb222023 by Waqas-ChNo Comments

US Supreme Court weighs Twitter’s role in sharing ISIL content | Courts News

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The United States Supreme Court justices have expressed scepticism on Wednesday about a lawsuit against the social media giant Twitter, as they weighed whether to hold internet companies accountable for contentious content by users. US relatives of Nawras Alassaf had accused Twitter of aiding and abetting the ISIL (ISIS) group, which claimed responsibility for a January 1, 2017, attack in Jordan that killed him and 38 others during a New Year’s celebration. The lawsuit alleges that Twitter failed to police the social media platform for ISIL accounts or posts. The nine justices heard arguments in Twitter’s appeal, after a lower court allowed the lawsuit to proceed and found that the company had refused to take “meaningful steps” to prevent ISIL’s use of the platform. The justices on Tues...

Feb212023 by Waqas-ChNo Comments

Rough day for the Dow Jones as retail earnings disappoint

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Rough day for the Dow Jones as retail earnings disappoint - CBS News Watch CBS News The Dow Jones ended the day in the red, down about 700 points. The slide comes as big box retailers predict a rough outlook for 2024. Business journalist Kristin Myers joined CBS News to discuss what the numbers mean for the market. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link