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...Despite the monthly decline, single family housing starts were still up 21.2 per cent from March 2023....
...Barclays finds that in the week of earnings or a deliveries update, the stock is down 7 per cent on average....
...At Citi, the figure increased nearly 100 basis points to 3.7 per cent. JPMorgan paid a rate of 2.85 per cent, up from 1.85 per cent in the prior-year period....
...Mark Mason, chief financial officer, told reporters that 7,000 employees had been given notice that their jobs had been eliminated since the reorganisation began, 2,000 more than the bank had previously...
...Lumping it in with the Mag 7 was a mistake....
...Poly Auction’s total was boosted by its top lot, Yayoi Kusama’s acrylic “Red Pumpkin” (1989), which sold for HK$18mn with fees, far above its HK$7.5mn-HK$8.5mn estimate....
...Annual growth in earnings excluding bonuses slowed to 6.2 per cent, compared with 6.7 per cent in the three months to November....
...The dollar rose for the fifth day in a row, adding 0.2 per cent against six of its peers. Gold rose 1.7 per cent to $2,383.19, on track for a fresh closing high....
...Family Dollar, which caters mainly to low-income urban customers, reported a 1.2 per cent decline in same-store sales during the fourth quarter....
...Heavyweights BP and Shell dropped 2.8 per cent and 1.9 per cent, respectively....
...The tech-heavy Nasdaq Composite fell 1.2 per cent, with Alphabet the only gainer in the Magnificent Seven. The small-cap focused Russell 2000 lost 0.7 per cent....
...Singapore’s economy grew 2.7 per cent year on year in the first quarter, missing forecasts despite a surge in tourism....
...The retail business’s profit margin was 2 per cent last year, compared with 5.8 per cent for the group as a whole over the same period....
...It is the lowest since December 2021, when it was 0.8 per cent, and the first reading below 2 per cent in more than two years....
...In March, the BoE forecast that headline inflation would temporarily fall below the 2 per cent target in the second quarter....
...Apple has no product in foldables (1% of market, used to be 20%), and there appears to be no obvious AI strategy. 7. Where’s its Galaxy S24 Ultra?...
...Sheffield United alone, for example, has conceded 2.7 goals per game, while Arsenal has scored 2.4. Put them in the same stadium and you’ll get goals — 11, to be exact, all for Arsenal....
...Industrial production increased 6.1 per cent in the first quarter compared with a year earlier, the NBS said, while industrial producer prices fell 2.7 per cent as deflationary pressures continued to weigh...
...A version of this article was first published by Nikkei Asia on April 2 2024. ©2024 Nikkei Inc. All rights reserved....
...The fund said in its benchmark Fiscal Monitor that it expected the US to record a fiscal deficit of 7.1 per cent next year — more than three times the 2 per cent average for other advanced economies....
...Email me at philip.stafford@ft.com Join me and fellow colleagues at FT’s flagship Crypto and Digital Asset Summit on May 8-9 in London....
...Analysts at Citi put operating margins at least 60 per cent; they reckon ad sales generated about 7.5 per cent of Walmart’s total operating income last year and could account for 8.6 per cent this year....
...The IMF suggested that inflation is on track to continue falling in the UK, forecasting inflation will drop from 7.3 per cent last year to 2.5 per cent in 2024 and 2 per cent next year — the BoE’s target...
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