The UK government is to deploy new “call in” laws to investigate the national security risks from the French telecoms group Altice’s 18 percent holding in BT. The probe—ordered by Business Secretary Kwasi Kwarteng—comes just weeks before the investment vehicle controlled by French billionaire Patrick Drahi, 58, is allowed to make a takeover bid for…
Dollar Edges Back Towards One-Month Low
LONDON—The U.S. dollar edged back towards a one-month low on Thursday, as minutes from the Federal Reserve’s May meeting contained few surprises, with most participants favoring additional 50 basis point rate hikes at the June and July meetings. The dollar index, which measures the currency against six major peers, was down 0.2 percent at 101.83…
Oil Climbs on Tight Supply, Prospect of EU Ban on Russian Supply
LONDON—Oil prices rose on Thursday, extending a cautious rally this week on signs of tight supply while the European Union (EU) wrangles with Hungary over plans to ban imports from Russia, the world’s second-largest crude exporter, after it invaded Ukraine. Brent crude futures gained 87 cents, or 0.8 percent, to $114.90 a barrel at 1001…
Apple to Hike Wages Amid Tight Labor Market, Inflationary Pressures
May 26, 2022
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Apple has announced plans to raise salaries for U.S. workers by at least 10 percent in a tight labor market that’s pushing companies to boost wages to attract and retain workers who face growing cost-of-living pressures from high inflation. The tech giant said in a statement that it is expanding its compensation budget, hiking the…
World Shares Mixed on Growth Worries as Central Banks Tighten
MILAN/SHANGHAI—World shares were mixed on Thursday on persistent concerns over slowing economic growth and after the latest U.S. Federal Reserve minutes confirmed its intent to tighten monetary policy quickly. While Wall Street rallied after the minutes, which showed a majority of policymakers backed 50-basis-points rate hikes in June and July along with a unanimous view…
Nvidia Shares Tumble Nearly 10 Percent Amid ‘Slowing’ Video Game Market
May 26, 2022
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Shares of chip designer Nvidia tumbled more than 10 percent on Wednesday after the company said it expects sales of video game chips to decline in the current quarter. The American technology company beat analysts’ expectations for sales and earnings, reporting record revenue for the first quarter of $8.29 billion, up 46 percent from a year ago and up 8…
Australian Households Across East and South Australia Brace for Jump in Power Bills
May 26, 2022
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Millions of Australians will be confronted with another cost-of-living pressure, with electricity bills set to jump from July 1 after the national energy regulator announced the lift in response to soaring wholesale prices. The Australian Energy Regulator (AER) revealed that the new default market offer (DMO), a price cap that protects consumers from unjustified high…
iPhone 14 Expected to Take Much Better Selfies Than Previous Models
Apple Inc (NASDAQ: AAPL) is reportedly making changes to its camera supply chain management and that could mean an upgrade to “high-end standards” for the upcoming iPhone’s selfie camera. What Happened LG Innotek’s products will feature on the iPhone 14’s front camera and the South Korean firm has started to mass-produce components for the Cupertino-based tech giant, Korea IT News reported on Monday….
Chart Wars: Does Nordstrom or Urban Outfitters Appear Stronger After Q1 Earnings?
Nordstrom, Inc (NYSE:JWN) and Urban Outfitters, Inc (NASDAQ:URBN) were soaring over 11 percent and 9 percent, respectively, on Wednesday after the retailers reported first-quarter financial results. For the first-quarter 2022, Nordstrom reported a loss of 6 cents per share, which slightly missed the consensus estimate of a loss of 5 cents and revenues of $3.46…
4 Nordstrom Analysts React to Mixed Q1 Earnings: ‘We Remain Skeptical’
Nordstrom, Inc. shares traded higher by 11 percent on Wednesday after the company reported strong first-quarter sales numbers and raised its full-year guidance. On Tuesday, Nordstrom reported a first-quarter adjusted EPS loss of 6 cents, slightly missing consensus analyst estimates of a 5-cent loss. First-quarter revenue of $3.57 billion exceeded Wall Street expectations of $3.28…
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