FRANKFURT—Deutsche Bank is to cut 800 jobs in a new cost-saving drive after reporting a bigger than expected rise in profit for the first quarter, a volatile period globally for finance companies. Germany’s biggest bank produced solid earnings at a time when banks had to be rescued in the United States and in Switzerland. The…
Deutsche Bank to Cut 800 Jobs After Strong 1st Quarter
April 27, 2023
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Oil Prices Stabilize After Hefty Losses
April 27, 2023
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LONDON—Oil prices were steady on Thursday after a price drop the previous day reversed the supportive impact of a surprise OPEC production cut announced this month. Brent crude was trading at $77.72 a barrel, up 3 cents, or 0.04 percent, by 1033 GMT, while U.S. West Texas Intermediate crude rose 1 cent or 0.01 percent…
Stock Market Today: Global Shares up Ahead of US GDP Update
April 27, 2023
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TOKYO—Global shares were mostly higher Thursday ahead of the release of data that are expected to show the world’s biggest economy slowing in the first quarter of the year. Shares rose in Paris, Frankfurt, Tokyo, Hong Kong, and Shanghai but fell in London and Sydney. U.S. futures and oil prices were higher. The U.S. economy…
Wall Street Opens Higher on Upbeat Microsoft, Boeing Results
April 26, 2023
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Wall Street’s main indexes opened higher on Wednesday as strong results from Microsoft and positive cash-flow forecast from Boeing offset concerns over rising interest rates and their effect on the U.S. economy. The Dow Jones Industrial Average rose 65.51 points, or 0.20 percent, at the open to 33,596.34. The S&P 500 opened higher by 16.15…
Swedish Crown Softens After Market Sees Riksbank Dovishness, Euro Rebounds
LONDON—The Swedish crown weakened sharply on Wednesday after the country’s central bank was less hawkish than expected, while the euro rebounded from losses a day earlier when jitters about the U.S. banking sector helped the safe-haven dollar. The euro rose as much as 1.05 percent against the crown to 11.426, set for its biggest one-day…
Stock Market Today: US Futures Subdued as Earnings Arrive
April 26, 2023
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Wall Street was slow to gain traction in premarket trading ahead of another full slate of corporate earnings and more economic data later in the week. Futures for the Dow ticked down less than 0.1 percent and the S&P 500 was essentially unchanged before the bell Wednesday. Shares of Activision Blizzard tumbled more than 11…
Fox Stock Down $600 Million Since Tucker Carlson Exit
Fox Corporation’s stock plunged by more than 5 percent on Monday after Fox News host Tucker Carlson’s surprise exit was announced, initially wiping out nearly $1 billion from its market value. Combining its Class A and B shares, the company saw $900 million wiped off its market value and by late afternoon trading, its Class B shares…
Fox Takes a Huge Hit Following Tucker Carlson’s Departure
Fox Corporation’s stock plunged by more than 5 percent on Monday after Fox News host Tucker Carlson’s surprise exit was announced, initially wiping out nearly $1 billion from its market value. Combining its Class A and B shares, the company saw $900 million wiped off its market value and by late afternoon trading, its Class B shares…
Stock Market Today: Stocks Tumble on Profit, Economy Worries
NEW YORK—Wall Street tumbled Tuesday to its worst day in a month on worries about the strength of corporate profits and the economy following some mixed reports. The S&P 500 fell 1.6 percent to break out of a weekslong lull. The Dow Jones Industrial Average dropped nearly 345 points, or 1 percent, while the Nasdaq…
Nestle Beats Quarterly Sales Estimates With Price Hikes
LONDON—Nestle reported slightly better-than-expected first-quarter sales on Tuesday, as the world’s biggest packaged food company increased prices to offset weak sales volumes. The Swiss company, which makes KitKat chocolate bars, Nescafe coffee, and Maggi stock cubes, said sales rose 5.6 percent to 23.5 billion Swiss francs ($26.48 billion) in the quarter ended March 31, beating…
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