Author: News Room
A high-stakes inflation report due Wednesday is expected to show that price pressures within the economy remained strong last month despite an aggressive interest rate hike campaign by the Federal Reserve. Economists expect the consumer price index, which measures a basket of goods, including gasoline, health care, groceries and rent, to show that monthly prices rose 0.2% in March, down slightly from an increase of 0.4% February. On an annual basis, inflation is projected to have climbed 5.1% at an annual rate, a decline from 6% the previous month and a peak of 9.1% in June. While that would mark the…
The resurgence of a once banned liquor in Ghana, Akpeteshie, is shaking up the global distillery market. Brothers Kofi and Raja Owusu-Ansah, owners of Republic Distilleries in Accra, are bringing Akpeteshie, Ghana’s indigenous alcoholic spirit distilled from sugar cane juice, to the rest of world. They are poised to disrupt the international liquor market valued at $1.4 trillion in 2021, a figure that’s expected to grow 10.3% until 2028, one “Kokroko” drink at a time. The Breakdown You Need To Know: The African distillery market has been growing steadily in recent years, with increasing demand for traditional alcoholic beverages in…
Goldman Sachs (NYSE: GS) is scheduled to report its fiscal Q1 2023 results on Tuesday, April 18, 2023. We expect Goldman Sachs to edge past the consensus estimates of revenues and earnings. The investment bank underperformed expectations in the last quarter, with revenues decreasing by 16% y-o-y to $10.59 billion. The top line mainly suffered due to a 48% decline in investment banking and a 27% drop in the asset & wealth management units. That said, the impact was partially offset by growth in platform solutions and FICC (fixed income, currency, & commodity) trading segments. We expect the asset &…
(Reuters) – Japan’s new central bank governor Kazuo Ueda assumed office this week, succeeding Haruhiko Kuroda, and delivered his first press conference in the role on Monday, along with his two deputies, Shinichi Uchida and Ryozo Himino. Following are excerpts from the news conference, which was conducted in Japanese, as translated by Reuters: BOJ GOVERNOR UEDA ON FINANCIAL STABILITY “Achieving financial system stability is a big responsibility for the BOJ. As the environment surrounding Japan’s banking system becomes more severe, it’s extremely important to ensure Japan’s financial intermediation is functioning smoothly.” IMPACT OF THE U.S., EUROPEAN BANKING CRISIS ON JAPAN…
By Pavel Polityuk KYIV (Reuters) – Protests by European farmers are political and shipments of Ukrainian grain are not reducing the profitability of their business, Ukrainian food producers’ union UAC said on Wednesday. Logistical bottlenecks have kept large quantities of Ukrainian grains, which are cheaper than those produced in the European Union, in Central European states, reducing prices and sales for farmers there who have staged protests. Poland last week said it would temporarily halt Ukrainian grain imports after farmers’ protests led Poland’s agriculture minister to resign, but transit would still be allowed. “The political nature of the European farmers’…
© Bloomberg. The Tyson Foods Inc. logo is seen on a box arranged for a photograph in Tiskilwa, Illinois, U.S., on Monday, Aug. 6, 2018. The largest U.S. meat company posted better-than-expected fiscal third-quarter earnings as beef demand rose and cattle costs fell, Tyson said Monday in a statement. Photographer: Daniel Acker/Bloomberg (Bloomberg) — Workers at a Tyson Foods Inc (NYSE:). poultry plant in Van Buren, Arkansas, are striking to demand better conditions as labor at the facility grows tight before a scheduled closure in May. Since Tyson announced it would shutter the under-performing plant, many employees have left. That’s…
The Biden Administration is advancing the toughest-ever proposed limits on tailpipe emissions from cars, SUVs, vans and pickup trucks, an expected move that brought cheers from environmental policy-setters and prompted others to warn vehicle prices would rise in response. The proposal announced Wednesday from the Environmental Protection Agency increasingly raises restrictions each year on tailpipe emissions of carbon dioxide, smog-forming nitrogen oxide and other pollution from vehicles for model years 2027 through 2032…. Read the full article here
Quick facts about the gas guzzler tax: If you haven’t researched current models, shopped for new vehicles, or even dreamed about a high-performance car, you may have only a casual familiarity with what is known as the gas guzzler tax. It’s an excise tax the government assesses automakers for cars that don’t meet a minimum designated mileage number. For most offending models, the carmakers pass the tax along to the consumer. You will find it on the Monroney Label (window price sticker) on the glass of new cars. Our… Read the full article here
Michael Jordan stays on top. The shoes Jordan wore during Game 2 of the 1998 NBA Finals, his last season with the Chicago Bulls, sold at a Sotheby’s auction on Tuesday for $2.2 million including fees, a record price for any pair of sneakers, ever. The previous record price for a pair of shoes was for $1.8 million. Those shoes were a prototype… Read the full article here
U.S. stock indexes finished mostly lower after trading in a narrow range on Tuesday as investors awaited key inflation data that could determine whether the Federal Reserve will once again raise interest rates at its meeting in May. The Dow Jones Industrial Average advanced 98 points, or 0.3%, to end at 33,685, while the S&P 500 ended nearly flat and the Nasdaq Composite shed 0.4%. The March CPI reading from the Bureau of Labor Statistics, is expected to show a 5.1% rise from a year earlier, slowing from a 6% year-over-year rise in the previous month, according to a survey…
