U.S. Consumer Sentiment Drops More Than Expected In March

Consumer sentiment in the U.S. fell to its lowest level in over ten years in the month of March, according to a report released by the University of Michigan on Friday.

The report showed the consumer sentiment index slid to 59.7 in March from 62.8 in February. Economists had expected the index to dip to 61.4.

With the bigger than expected decrease, the consumer sentiment index dropped to its lowest level since hitting 59.5 in September 2011.

“Consumer Sentiment continued to decline due to falling inflation-adjusted incomes, recently accelerated by rising fuel prices as a result of the Russian invasion of Ukraine,” said Surveys of Consumers chief economist, Richard Curtin.

He added, “The year-ahead expected inflation rate rose to its highest level since 1981, and expected gas prices posted their largest monthly upward surge in decades.”

One-year inflation expectations jumped to 5.4 percent in March from 4.9 percent in February, while five-year inflation expectations held at 3.0 percent.

While the report showed index of current economic conditions edged down to 67.8 in March from 68.2 in February, the index of consumer expectations slumped to 54.4 from 59.4.

Oil Futures Settle Sharply Lower

Crude oil prices fell on Monday amid easing worries about supply on reports the U.S. is likely to lift sanctions on Venezuelan oil.

Oil prices drifted lower earlier in the session amid hopes a fresh round of talks between Russia and Ukraine will result in a solution to the conflict between the two countries. However, a pause in talks resulted in a recovery in prices before reports about a possible U.S. deal with Venezuela helped ease concerns about supply and pushed down oil prices again.

Meanwhile, reports that China is seeing its worst Covid outbreak in more than two years have raised concerns over demand. The city of Shenzhen has gone into lockdown, whilst other cities are also seeing tougher restrictions.

Investor focus also shifted to major central bank meetings this week amid inflation risks from commodity supply disruptions.

West Texas Intermediate Crude oil futures for April ended lower by $6.32 or about 5.8% at $103.01 a barrel. Oil futures dropped to a low of $99.76 a barrel in the session.

Brent crude futures ended the day with a loss of about 5.1% at $106.90 a barrel.

‘Bad Vegan’ Chronicles the Strange Story of Sarma Melngailis

The Netflix documentary details the New York restaurateur’s rise and fall.

By Florence Fabricant

Gold Futures Settle Lower As Focus Shifts To Peace Talks, Fed Meeting

Gold prices drifted lower on Monday as investors picked up riskier assets such as equities amid hopes a fresh round of diplomatic talks between Russia and Ukraine might help bring about a solution to the conflict between the two countries.

A jump in bond yields supported gold’s uptick. The 10-year Treasury yield rose to 2.08%, the highest point since July 2019, with the focus shifting to Ukraine peace talks and policy meetings by the Federal Reserve and the Bank of England.

The dollar’s weakness helped limit gold’s losses. The dollar index dropped to a low of 98.68, losing nearly 0.4%, ahead of the Fed’s two-day monetary policy meeting that gets underway on Tuesday.

Gold futures for April ended lower by $24.20 or about 1.2% at $1,960.80 an ounce, off the day’s low of $1,952.00 an ounce.

Silver futures for May ended down by $0.862 at $25.298 an ounce, while Copper futures for May settled at $4.5230 per pound, down $0.1025 from the previous close.

Avalanche acquires defenseman Josh Manson from Anaheim Ducks – The Denver Post

The Avalanche acquired defenseman Josh Manson from the Anaheim Ducks for prospect Drew Helleson and a 2023 second-round draft pick, the club announced on Monday afternoon.

Manson, 30, is a pending unrestricted free agent with a $4.1 million cap hit. The shutdown defenseman was a three-year alternate captain for the Ducks.

Helleson, 20, is a defenseman who just completed his junior year at Boston College. He was a 2019 second-round selection (47th overall) by Colorado.

This story will be updated. 

Noah Holdings Limited Q4 Earnings Summary

Below are the earnings highlights for Noah Holdings Limited (NOAH):

Earnings: RMB0.28 billion in Q4 vs. -RMB1.57 billion in the same period last year.
EPS: RMB4.16 in Q4 vs. -RMB24.92 in the same period last year.
Excluding items, Noah Holdings Limited reported adjusted earnings of RMB289.61 million or RMB4.28 per share for the period.

Revenue: RMB1.26 billion in Q4 vs. RMB0.95 billion in the same period last year.

For Afghans Abroad, Nowruz Is a Chance to Reflect

The holiday marks the beginning of spring, with many in the diaspora celebrating with rebirth, renewal and, now, resistance in mind.

By Naz Deravian

Genuit Group FY21 Underlying Profit Before Tax Rises; LFL Revenue Up 29.5%

Genuit Group plc reported underlying profit before tax of 91.1 million pounds for the year ended 31 December 2021 compared to 35.7 million pounds, prior year. Underlying earnings per share was 30.2 pence compared to 13.3 pence.

Fiscal year profit before tax increased to 62.9 million pounds from 23.8 million pounds, prior year. Earnings per share was 16.5 pence compared to 8.4 pence.

Revenue was 594.3 million pounds, an increase of 49.1% from previous year. On a like-for-like basis, excluding the impact of acquisitions, revenue was 29.5% higher than prior year.

The final dividend of 8.2 pence per share is being recommended for payment on 25 May 2022 to shareholders on the register at the close of business on 22 April 2022.