HSBC has posted a 74% rise in third quarter profit, with its chief executive saying “the lows of recent quarters are behind us”. The London-headquartered bank reported a pre-tax profit of $5.4bn (£3.9bn) for the quarter to September, compared to $3.1bn (£2.2bn) at the same time last year. Some $700m (£508m) in cash was also […]
(BLOOMBERG) – Billionaire investor Charles Munger made a well-timed bet on suburban apartments in California – thanks to a neighbourhood teenager who showed up at his house with a Hebrew Bible. Mr Munger couldn’t read it. But the encounter led to an improbable friendship and, over a decade later, an investment in apartment complexes in […]
(NYTIMES) – Robinhood, the free stock-trading app with 21 million active users and counting, is about to hit the road for a college coffee house tour to drum up new customers. Now where have we heard this one before? Ah, yes, the credit card industry. The campus antics the card companies got up to two […]
NEW YORK (Reuters) – The Dow Jones industrial average registered a record closing high on Friday and major equity indexes posted a third straight week of gains while the U.S. dollar slipped.FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 21, 2021. REUTERS/Brendan McDermidOn […]
LONDON (Reuters) – Global shares got a tech boost to help tee up a third straight week of gains on Friday, despite growing inflation concerns, while the dollar dipped and oil prices bounced off their lows.FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 19, […]
LONDON (Reuters) – A key market gauge of euro zone inflation expectations rose on Friday to 2%, the ECB’s inflation target, for the first time in seven years, putting pressure on the central bank as it weighs how to proceed with stimulus when its pandemic-era support ends.FILE PHOTO: Full shelves with fruits are pictured in […]
(Removes extraneous word) (Reuters) – The S&P 500 and the Dow climbed on Wednesday with the Dow hitting an intraday record high as investors eyed better than expected third-quarter earnings from U.S. companies. While the Nasdaq lagged as technology stocks took a breather, the Dow Jones Industrials Average surpassed its previous record reached in mid-August […]
Netflix has hailed the “mind-boggling” success of Korean hit Squid Game as it posted better than expected subscriber growth and pencilled in a further acceleration over coming months. The streaming giant revealed that 142 million households had watched the series – already the group’s biggest TV show – in the first four weeks since its […]
FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid(Reuters) – Private equity giant KKR & Co, along with the family office of former Goldman Sachs partner Stephen Hendel, has bought Kobalt Capital’s […]
Beer prices are reportedly set to rise by 30p a pint as pubs across the country face rising costs, including those caused by higher wages, along with energy and supply shortages. More than eight in 10 pubs have raised their prices or plan to, even before any duty increases are announced in the Budget next […]