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...Core PCE, the Federal Reserve’s preferred measure of underlying price pressures, remained at 2.8 per cent, compared with an anticipated fall to 2.7 per cent....
...August 8....
...Core PCE, which excludes volatile food and fuel prices, remained at 2.8 per cent in March, compared with an anticipated fall to 2.7 per cent....
...Despite the monthly decline, single family housing starts were still up 21.2 per cent from March 2023....
...Lumping it in with the Mag 7 was a mistake....
...In November, the Nomura chief said he would target another $100mn in cost cuts in the wholesale banking division as he tries to attain a target of 8 to 10 per cent return on equity for the bank....
...Germany’s Dax rose 0.7 per cent, while France’s Cac 40 added 0.2 per cent....
...Barclays finds that in the week of earnings or a deliveries update, the stock is down 7 per cent on average....
...Group revenue rose 7 per cent to €8.1bn. Chief executive Dolf van den Brink said all regions posted higher volumes and net revenues....
...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....
...Annual growth in earnings excluding bonuses slowed to 6.2 per cent, compared with 6.7 per cent in the three months to November....
...“Clean” automotive margins (which exclude regulatory credits and leasing income) were down from 29.7 per cent in the first quarter of 2022, to 18.3 per cent in the first quarter of 2023, and again to 15.6...
...The core figure, which strips out the volatile food and energy components, is expected to fall to 2.7 per cent from 2.8 per cent....
...The sector-specific Philadelphia Semiconductor index rose 2.8 per cent following an upbeat earnings report from chipmaker Texas Instruments....
...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....
...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...
...Economists polled by Reuters had forecast a lower reading of 50.8....
...Jefferies shares fell more than 2 per cent on Thursday....
...Net flows into ESG ETFs totalled €7.1bn in the first quarter, down from €13.8bn in the previous three-month period....
...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....
...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....
...From 2020 to 2022, debt-to-EBITDA multiples on new LBO loans averaged between 6.9x and 7.1x....
...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?...
...A version of this article was first published by Nikkei Asia on April 2 2024. ©2024 Nikkei Inc. All rights reserved....
...In March, the BoE forecast that headline inflation would temporarily fall below the 2 per cent target in the second quarter....
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