No wonder Powell didn’t commit to extra hikes. Here are five reasons the January jobs report may be too good to be true.
Traders took heart that Fed Chair Jerome Powell, when he wasn’t being questioned by David Rubinstein on how he gets by on $190,000 per year, didn’t commit on Tuesday to having to be even more aggressive on interest rates given the huge 517,000 surge in nonfarm payrolls. Powell said rates would have to go even […]
Amazon cut 67,000 jobs in 2022, the first yearly decline in 20 years
Amazon.com Inc. had a pretty bad year in 2022, with the e-commerce and cloud giant recording its biggest loss ever, and with its stock suffering a yearly record loss. Its employees had a bad year, too: For the first time in 20 years, the company shrank its workforce. According to Amazon’s 2022 annual report, released […]
RH to restate quarterly results after errors in earnings-per-share calculations
RH, the retailer formerly known as Restoration Hardware RH, -0.99%, said in a filing late Friday that it will restate per-share earnings results for several periods after it found mistakes in the way it accounted for some pretax losses related to debt payments. RH also updated its fiscal 2022 revenue outlook, saying it expects a […]
TotalEnergies reveals $3.1 billion exposure to Adani
TotalEnergies, the French-headquartered energy giant, has told investors it has a “limited” $3.1 billion exposure to Indian conglomerate Adani Group, becoming the first western company to outline its exposure to the company which has shed billions of dollars in market capitalization. In a statement posted on its website Friday, the multinational oil giant outlined the […]
‘I always say yes’: How can I deal with aggressive salespeople? I’ve spent a fortune on gym classes. I even told a job interviewer I had no other offers. Help!
I am a 31-year-old man, not yet married, earning decent money and have no great financial burden in my family. I have learned from your replies to others that many money problems are not only about the numbers — income, rate of return or which stock to buy and when — but also about our […]
State of the Union: 5 key challenges for Biden as he delivers his speech
President Joe Biden will face no small task on Tuesday night, when he delivers his State of the Union speech after a little more than two years in office.Biden looks poised to tackle the debt-limit standoff, recession worries and acts of violence at home and abroad in his remarks. At the same time, American presidents […]
Adani selloff worsens after cancellation of $2.5 billion share sale
Shares of Adani Group companies continued their multi-day plunge Thursday, hours after the Indian conglomerate cancelled an up-to-$2.5 billion share sale amid a record dive in the stock price of its flagship company. Shares of Adani Enterprises 512599, -7.78% were last down 8.8%, a day after the stock fell more than 28% in its biggest […]
UPS foresees ‘mild recession’ in 2023 and posts first revenue decline since the 2008 financial crisis
Shares of United Parcel Service Inc. rallied Tuesday, even after the package-delivery giant reported a surprise decline in fourth-quarter revenue, missing Wall Street expectations for the first time in 12 quarters, and warned of the first yearly decline in revenue in 14 years. Investors expressed relief, however, as UPS beat fourth-quarter profit expectations, raised its […]
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 […]