ThyssenKrupp AG (TYEKF.PK), a German industrial engineering and steel company, reported Wednesday that its fiscal 2023 net loss was 2.0 billion euros, compared to net profit of 1.2 billion euros a year ago. Loss per share was 3.33 euros, compared to prior year’s earnings of 1.82 euros. The latest net loss primarily was due to impairment losses of 2.1 billion […]

The Bangko Sentral ng Pilipinas kept its policy rates untouched on Thursday after an off-cycle rate hike in October and hinted at more tightening if required to steer inflation towards a target-consistent path. The Monetary Board, led by Governor Eli Remolona, maintained the target reverse repurchase rate at 6.50 percent. Accordingly, the interest rates on the overnight deposit and lending […]

With a sharp pullback in gasoline prices offsetting a continued increase in shelter prices, the Labor Department released a report on Tuesday showing U.S. consumer prices came in unchanged in the month of October. The Labor Department said its consumer price index was unchanged in October after climbing by 0.4 percent in September. Economists had expected consumer prices to inch […]

Save articles for later Add articles to your saved list and come back to them any time. “Investing in the sharemarket is like gambling.” I first heard this phrase as a teenager. Over the years, I would come to hear it many more times and by the time I reached adulthood, I had a well-ingrained fear of share market investing. […]

Save articles for later Add articles to your saved list and come back to them any time. The latest International Monetary Fund assessment of the state of China’s economy paints a more encouraging view of its near-term performance but highlights the longer-term structural challenges confronting its policymakers, complex threats that will be a brake on growth for years. The IMF […]

China’s manufacturing activity contracted in October as firms reported a fresh decline in production amid weak foreign demand, survey results released by S&P Global showed on Wednesday. The Caixin manufacturing Purchasing Managers’ Index dropped to 49.5 in October from 50.6 in the previous month. The sector contracted for the first time since July. There was a renewed fall in manufacturing […]

HSBC Holdings Plc (HSBA.L,HSBC), a British lending major, on Monday reported a surge in pre-tax earnings for the third-quarter of 2023, reflecting a positive impact of a higher interest rate environment and a rise in revenue. In addition, HSBC said: “We also intend to initiate a further share buy-back of up to $3bn, which we expect to commence shortly and […]

Deutsche Bank AG shares were gaining around 7 percent in the morning trading in Germany as well as in pre-market activity on the NYSE after the German banking major on Wednesday reported higher pre-tax profit in its third quarter, the highest for any third quarter since 2006, driven by revenue strength. On an after tax basis, profit declined. Looking ahead […]

Save articles for later Add articles to your saved list and come back to them any time. A rate cut before the end of next year could only be justified if inflation fell sharply or there was a deep recession, according to former RBA governor Ian Macfarlane recently. By the way, he expects neither. Meanwhile, last week new governor Michele […]

Consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of October, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index slumped to 63.0 in October from 68.1 in September. Economists had expected the index to edge down to 67.4. “Assessments of personal […]