CVS Health Corp. on Wednesday lifted its full-year adjusted earnings forecast after robust demand for COVID-19 vaccinations and tests helped the U.S. healthcare conglomerate beat analysts’ estimates for third-quarter profit. Rival Walgreens Boots Alliance also signaled a boost from higher demand for vaccinations following the spread of the Delta variant. CVS said it had administered…
CVS Sees Higher Adjusted Profit as COVID-19 Tests, Vaccinations Rebound
November 3, 2021
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Consumers Likely to Face More Expensive Thanksgiving Turkeys This Year: Butterball CEO
Butterball CEO Jay Jandrain told Fox News in a recent interview that it’s likely American families will see more expensive Thanksgiving turkeys this year and that smaller ones will be harder to find as inflation remains stubbornly high and the supply chain crunch roils on. Jandrain told the outlet on Nov. 2 that, while he…
ECB ‘Very Unlikely’ to Raise Rates in 2022, Lagarde Says
FRANKFURT—The European Central Bank is very unlikely to raise interest rates next year as inflation remains too low, European Central Bank President Christine Lagarde said on Wednesday, pushing back on market bets for a move as soon as next October. With inflation running at a 13-year-high, markets are increasingly betting that the ECB will retreat…
Swiss Banks Expect Market Access Deal With Britain in 2022: NZZ
ZURICH—The head of the Swiss banking lobby expects his country to strike a deal with Britain next year to open up the financial sector to cross-border business, he told the NZZ newspaper in an interview published on Wednesday. Both countries, which are outside the European Union, are negotiating an accord for market access by banks…
Dollar Hovers Near Recent Highs, Bonds Steady, Ahead of Expected Fed Stimulus Rollback Announcement
The dollar hovered near recent peaks and U.S. Treasuries held steady on the morning of Nov. 3 as investors await an expected Federal Reserve announcement later in the day about tapering the central bank’s massive bond-buying scheme. The DXY dollar index, which tracks the greenback against a basket of major rivals, traded largely unchanged on…
Israel’s Central Bank Urges Government to Meet Looming Budget Deadline
JERUSALEM—The Bank of Israel on Wednesday urged the government to pass the 2021–2022 state budget as a deadline approaches that could determine the fate of the ruling coalition, and praised the spending plan outlined by Finance Minister Avigdor Lieberman. In a statement, it emphasised the “tremendous economic importance of approving the state budget at this…
UK House Prices Show Unexpected Strength in October: Nationwide
LONDON—British house prices rose last month at a faster rate than expected as robust demand and a lack of new homes coming to the market kept up momentum, a survey showed on Wednesday. Mortgage lender Nationwide said house prices rose by 0.7 percent in monthly terms in October after a 0.2 percent rise in September….
Ether Scales $4,600 to Record High, Bitcoin Trails
Ether, the world’s second-largest cryptocurrency, hit an all-time high on Wednesday, catching up with bitcoin’s rally and riding on news of wider blockchain adoption. The ether token, which underpins the ethereum blockchain network, rose to as high as $4,643 in Asian hours, breaching the previous day’s $4,600 and taking the week’s gains to more than…
Record High Stocks Brace for Fed Stimulus Cut
November 3, 2021
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LONDON—Global stock markets traded at fresh record-high levels on Wednesday while the dollar and U.S. Treasury yields ticked down as investors braced for the world’s largest economy to start cutting pandemic-era monetary stimulus. The U.S. Federal Reserve is expected to announce the tapering of its $120 billion-a-month asset purchase programme in its policy statement at…
Biden Says He Will Make Fed Nomination Announcements ‘Fairly Quickly’
November 3, 2021
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GLASGOW—President Joe Biden said on Tuesday that the White House will be making an announcement about his nominations to lead the Federal Reserve “fairly quickly.” Biden told reporters that he has been thinking about personnel decisions, including whether to re-nominate Fed Chair Jerome Powell, and that he expected there would be “plenty of time” for…
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