U.S. may cut off China’s Huawei entirely from U.S. suppliers
WASHINGTON — The Biden administration is considering entirely cutting off Chinese telecommunications giant Huawei Technologies Co. from U.S. suppliers over national-security concerns by tightening export controls targeting the firm, according to people familiar with the matter. The move — should the administration move forward — would mark the latest salvo in the high-stakes clash between the world’s two largest economies as U.S. […]
Paramount+ and Showtime to integrate content, rebrand later this year
Media giant Paramount Global Inc. on Monday announced it plans to merge its Paramount+ streaming service with its premium cable channel, Showtime. The integration, set to take effect later this year, essentially means Showtime subscribers on cable will get to watch Paramount+ content, such as “1923” and “Star Trek: Picard,” and streaming subscribers to the […]
Pandemic is still a global health emergency but it may be reaching a point where higher immunity levels mean fewer deaths
The coronavirus pandemic is still a global health emergency, according to the World Health Organization, but an advisory panel has determined that it may be nearing an inflection point where higher levels of immunity will lead to fewer deaths. That was the message Monday from WHO Director-General Tedros Adhanom Ghebreyesus at the agency’s annual executive […]
Banks Brace for More Consumers to Fall Behind on Their Loans
Delinquencies are rising, in some cases surpassing prepandemic levels, prompting banks to add to their rainy-day funds. Source link
It’s a key week for the stock market. If you’re not nervous, you should be, this global strategist warns.
Investors have got the jitters as a big week unfolds — several central bank meetings including the Fed, earnings from Apple and Amazon.com, and jobs data. Yikes.Any investor out there who isn’t nervous, perhaps should recheck his gut, says our call of the day, from Standard Chartered’s global head of research, Eric Robertsen. “We do […]
Fed Debates Whether Wages or Low Unemployment Will Drive Inflation
Fed officials face a fork in the road when forecasting inflation: Focus on moderating wage and price trends or persistently low unemployment? Source link
What CEOs Are Saying: ‘The Consumer Is Under Pressure’: WSJ
Here’s what leaders from Nasdaq, Microsoft, Tesla and elsewhere said about the economy, inflation and other topics this week. Source link
Gautam Adani falls to world’s eighth richest man as short seller report wipes $72 billion off Adani market value
Indian billionaire Gautam Adani’s wealth is evaporating, as Adani Group companies have lost a combined $72 billion in market value since U.S. short seller Hindenburg Research published a report on the Indian conglomerate last week. Once Forbes’ third richest billionaire, Adani has fallen back from his quick rise up the ranks, now falling to eighth […]
Adani shares mixed after 413-page response to Hindenburg
Shares of Adani Group companies were mixed in early trading Monday after the Indian conglomerate hit back at criticisms by U.S. short seller firm Hindenburg Research in a 413-page rebuttal. Flagship company Adani Enterprises 512599, +3.47% and Adani Ports & Special Economic Zone Ltd. 532921, -0.74% were up 6.8% and 4.8%, respectively, reversing course from […]
IAG shares fall in Australia after massive flooding in New Zealand
SYDNEY — Shares in Insurance Australia Group Ltd. IAG, -3.74% fell early Monday after the general insurer said that claims in New Zealand will likely rise after severe storms and flooding around Auckland, and that it may review its natural peril costs for fiscal 2023. The stock was down 4.5% to 4.88 Australian dollars (US$3.45), […]