Category: Business
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Fed keeps rates unchanged, Powell hedges on possible end of tightening campaign
By Howard Schneider and Michael S. Derby WASHINGTON (Reuters) -The Federal Reserve held interest rates steady on Wednesday as policymakers struggled to determine whether financial conditions may be tight enough already to control inflation, or whether an economy that continues to outperform expectations may need still more restraint. Fed Chair Jerome Powell said the situation…
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US job openings stay elevated, layoffs at nine-month low
By Lucia Mutikani WASHINGTON (Reuters) – U.S. job openings increased in September, pointing to persistent labor market tightness that is supporting the economy and likely to see the Federal Reserve keeping interest rates higher for a long time to cool demand. The Job Openings and Labor Turnover Survey, or JOLTS report from the Labor Department…
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Thomson Reuters profit beats estimates amid AI push
By Helen Coster NEW YORK (Reuters) -Thomson Reuters Corp on Wednesday reported higher-than-expected third-quarter profit, helped by cost cuts and growth at its biggest divisions serving legal, tax and accounting professionals, and said it was making progress incorporating artificial intelligence into its products. It reported adjusted earnings of 82 cents per share, above analyst forecasts…
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Hedge fund investors pull $80 billion from industry in 2023 – Aurum
By Nell Mackenzie LONDON (Reuters) – The hedge fund industry saw a net $80 billion of outflows for the year to Oct. 18, even as it raked in net profits of about $119 billion, hedge fund specialist Aurum Funds said in a report on Wednesday, as investors looked for higher returns elsewhere. Multi-strategy hedge funds…
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AMD soars as AI chip sales prediction bodes well for rivalry with Nvidia
By Samrhitha A (Reuters) -Shares of Advanced Micro Devices jumped 8% on Wednesday, after an upbeat AI chip sales forecast signaled the company was making progress in its bid to catch up with market leader Nvidia. The optimism over AI chip sales helped ease worries about a disappointing fourth-quarter forecast and put it on course…
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Analysis-Wavering ‘Magnificent Seven’ draw bargain-hunters amid U.S. stock sell-off
By Lewis Krauskopf NEW YORK (Reuters) – A slide in the shares of the massive U.S. technology and growth companies that have led stocks higher this year is tempting investors hoping for bargains ahead of results from market bellwether Apple. Surging bond yields and mixed earnings reports have weighed on the so-called Magnificent Seven stocks,…
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US job openings remain elevated in September
WASHINGTON (Reuters) – U.S. job openings increased in September, pointing to persistent labor market tightness that is underpinning the economy and likely to see interest rates staying high for some time. Job openings, a measure of labor demand, were up 56,000 to 9.553 million on the last day of September, the Labor Department said in…
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Ferrari has no current plans to move registered office from the Netherlands
MILAN (Reuters) – Luxury sports carmaker Ferrari has no plans to transfer its registered office from the Netherlands at the moment, a spokesperson for the company said on Wednesday. Earlier on Wednesday, Il Corriere della Sera daily reported that Ferrari and its parent Exor, the holding group of the Agnelli family, were considering bringing the…
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Canada Goose cuts sales forecast on rocky China recovery, appoints new CFO
(Reuters) -Canada Goose Holdings cut its annual sales forecast on Wednesday, in a sign that a sharp rebound in China was starting to falter and sales in the U.S. stayed under pressure. While China demand bounced back in the prior two quarters, hopes for a sustained recovery in the market is uncertain. The company, whose…
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New targets give investors a taste for Barry Callebaut
By Paolo Laudani and Andrey Sychev (Reuters) -Barry Callebaut set new medium term targets on Wednesday to boost sales volumes and earnings, lifting shares in the world’s biggest chocolate maker as investors warmed to its new chief executive’s turnaround plan. CEO Peter Feld, who joined in April from top shareholder Jacobs Holding, is overhauling the…