Walmart beats estimates for sales on stimulus spending boost, raises profit forecast
Walmart Inc (WMT.N) raised its full-year earnings forecast on Tuesday and beat estimates for same-store sales as it benefited from additional stimulus checks that put more money in consumers’ pockets and boosted demand for apparel and electronics.
Italy’s Berlusconi family sells Mediobanca stake
Former Italian Prime Minister Silvio Berlusconi’s family has sold its 2% stake in Mediobanca (MDBI.MI), in the latest change affecting the shareholder base of Italy’s top investment bank.
EEX market leader in Japan power futures after first year
The European Energy Exchange (EEX) could double the number of participants in its Japanese power futures market from around 20 players in 2021, having traded over 3 terawatt hours (TWh) in its first 12 months, executives said.
Sustainable finance scramble reaches currency derivatives market
A rush by companies to boost their sustainability claims has reached foreign exchange markets in the form of currency hedging products where the cost is tied to a firm’s environmental, social and governance (ESG) goals.
Some big U.S. hedge funds loaded up on SPACS, value stocks during first quarter
A number of well-known U.S. hedge funds bought value stocks and blank-check acquisition companies, selling some winners from the technology-led stock rally as bond yields rose during the first quarter, filings released on Monday showed. Special-purpose acquisition companies, known as SPACs, proved popular among hedge fund managers, with funds such as Third Point and Saschem […]
Yet another EU threat, says UK PM’s spokesman over French financial services move
A French move to delay a European Union financial services deal with Britain over fishing access is another example of the bloc issuing threats at any sign of difficulty, a spokesman for Prime Minister Boris Johnson said on Thursday. Paris has said it will delay the financial services deal until Johnson grants EU fishermen fair […]
Asia shares fall on worries over inflation, Fed outlook
Asian shares declined in early trade on Tuesday as Wall Street retreated on worries about accelerating inflation, prompting investors to cut back on their exposure to growth-focused stocks on bets of higher interest rates in the not-too-distant future.
ARK Innovation’s performance under pressure as tech stocks swoon
A rotation out of growth and technology stocks and a recent slide in shares of Tesla Inc (TSLA.O) are weighing on the performance of ARK Innovation (ARKK.P), the flagship exchange-traded fund managed by star stock picker Cathie Wood that bested all other U.S. equity funds in 2020. The $23.1 billion fund posted a gain of less than 1% […]
Climate finance targets top agenda for this week’s G7 meetings
Targets for climate finance and girls’ education will top the agenda at a meeting this week of foreign ministers from the Group of Seven advanced economies, this year’s chair Britain said on Sunday. The London summit will be the first attended in person by G7 foreign ministers for two years. Britain has also invited representatives […]
Class of COVID-19: Next generation of bankers fear for future
The stage fright of walking into the imposing offices of a $607 billion asset manager in the heart of a historic financial district? Pandemic era: a five-day induction on Microsoft Teams.
