Author: News Room
By Barani Krishnan Investing.com — Recession worries have started dominating markets of all shapes and sizes outside of oil, a day after OPEC+ announced a second production cut in four months. But longs in crude refused to settle for a negative close on Tuesday, pushing for a small gain that built on the mammoth 5% rally from the previous session. New York-traded , or WTI, crude settled at $80.71, up 29 cents, or 0.4%, after a session high of $81.78. On Monday, WTI jumped 6.3%. Since hitting 15-month lows of $64.12 on March 20, the U.S. crude benchmark has gained…
© Reuters. FILE PHOTO: Toy figures of people are seen in front of the displayed Paramount + logo, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration (Reuters) -Paramount Global is exploring the sale of a majority stake in Noggin, its online learning service for children, the Wall Street Journal reported on Friday, citing people familiar with the situation. The company is looking at an opportunity to develop Noggin, which is known for content like “PAW Patrol” and “Peppa Pig”, into an interactive learning platform, and is seeking an investor for the job, the report said. Paramount wants to retain…
The Federal Reserve will have to be nimble as it sets interest rates given the uncertainty facing the outlook, Richmond Fed President Tom Barkin said Thursday. “Most forecasts of our policy path seem to average the risk of higher inflation with the risk of further contagion in banking,” Barkin said in a speech to the Virginia Council of CEOs at the University of Richmond. “I see the range of potential outcomes as pretty wide,” Barkin added. In his comments about the sudden collapse of Silicon Valley Bank earlier this month, Barkin said that not every bank failure becomes Lehman Brothers…
Surprise crude oil production cuts from Saudi Arabia and other oil-rich countries shouldn’t produce worries of skyrocketing gas costs for U.S. drivers still smarting from last year’s pump price shocks, according to fuel industry experts. At a time when gas prices are already increasing because of rising seasonal demand, the slashed crude oil output that Saudi Arabia announced Sunday will translate into higher prices, they say. But compared to last year — when energy markets were absorbing the initial impact of Russia’s invasion of Ukraine — the altitude on those gas price increases may not feel so steep. On Monday,…
About the author: Edward Price is principal at Ergo, a global intelligence, consulting, and forecasting firm. A former British trade official, he also teaches at New York University’s Center for Global Affairs.KYIV, Ukraine—Air raid sirens. Bomb shelters. Captured Russian tanks. All are plentiful in this war-stricken city. But Kyiv is also a city at work. And on the last Friday in March, the city’s boulevards buzz. Were it not for the occasional soldier, and the golden turrets of turquoise Orthodox churches, I could be in France. Only Kyiv seems calmer than riotous Paris. I’ve strolled downtown to meet Sergii Marchenko, Ukraine’s 42-year-old…
With the best-case scenario for bank stocks this earnings season being the proverbial “better than feared,” investors may want to ponder what the industry will look like in the future to find today’s opportunities. Here’s a hint: Expect a wave of consolidation after there’s a bit more distance from last month’s collapse of Silicon Valley Bank and Signature Bank. It’s long been said that the U.S. is overbanked compared with the rest of the world. We lead with 4,135 banking institutions, according to the Federal Deposit Insurance Corp. The United Kingdom comes in a distant second with 311, and the…
Tennessee Republicans’ ruthless use of their state House supermajority to expel two young Black lawmakers for breaching decorum exposed a torrent of political forces that are transforming American politics at the grassroots. The GOP action, after the lawmakers had led a gun control protest from the House floor in response to last week’s Nashville school shooting, created a snapshot of how two halves of a diversifying and increasingly self-estranged nation are being pulled apart. A day of soaring tensions inside and outside the state House chamber thrust the Volunteer State into the national spotlight in an extraordinary political coda to…
Civil unrest has caused more than $10bn of insurance and reinsurance losses across the globe since 2015 compared with less than $1bn from terrorist attacks, spooking underwriters and fuelling a surge in the cost of cover.The figures are included in a report from insurance broker Howden that explores how “rising discontent”, driven by the increasing cost of living and other social pressures and stoked by social media, has driven up the frequency and size of claims on strikes, riots and civil commotion insurance. This typically covers property owners against damage in such episodes. “We have gone from a relatively loss-free…
By mid-February, I concluded that shares of Pfizer (NYSE:PFE) were moving towards value territory in this premium article, after the company issued a soft 2023 guidance. This came after the company has seen record results in 2022, yet with the pandemic on its retreat, a repeat of these results was not attainable. This did not come unexpected as valuations were low enough to deliver upside, even if sales and earnings might come under pressure. A Recap Pre-pandemic, Pfizer was a $53 billion business in 2019, posting adjusted earnings of $16 billion in the meantime, equal to $2.88 per share. The…
Watch full video on YouTube
