Asia shares sit at 2021 lows ahead of Fed verdict
Asian shares stayed stuck at seven-month lows on Wednesday, as markets continued to digest a storm in Chinese equity markets, while the dollar rested with traders reluctant to place large bets ahead of the outcome of the Federal Reserve meeting.
Oreo maker sweetens sales outlook as emerging markets bounce back
Mondelez International Inc (MDLZ.O) raised its full-year organic revenue forecast on Tuesday, as more consumers snacked on the food giant’s Oreo cookies and Cadbury chocolates across emerging markets including Brazil and China.
Visa gets vaccine boost as domestic spending back near pre-COVID levels
Visa Inc (V.N) beat estimates for quarterly profit on Tuesday, with domestic spending almost back to pre-pandemic levels and international travel on the road to recovery as rising vaccinations and reopening economies take effect.
Mattel expects strong holiday season as Barbie demand swells
Mattel Inc (MAT.O) raised its full-year sales forecast on Tuesday, expecting sustained robust demand for its Barbie and Hot Wheels brands into the holiday season despite upcoming price hikes.
Analysis: Ten-year Treasuries at 2%? Bring it on, investors say
A bet on 10-year U.S. bond yields rising to 2% was meant to be the slam-dunk trade of 2021. It still is, say many analysts and money managers, who expect the rate to shift back higher by year-end without causing market ructions.
EXCLUSIVE 3G founders launch investment partnership with former Third Point co-CIO Islam
Three Brazilian billionaires who cofounded investment firm 3G Capital are backing a veteran U.S. investor who played a key role in hedge fund Third Point’s activist campaigns, to make big, long-term bets on companies, three people familiar with the plans said.
UPS shares hit three-month low on worries e-commerce is cooling
United Parcel Service Inc (UPS.N) shares fell to a three-month low on Tuesday on worries that growth from the pandemic-fueled e-commerce boom may be fading.
IMF raises growth forecasts for rich nations, dims outlook for developing world
The International Monetary Fund on Tuesday maintained its 6% global growth forecast for 2021, upgrading its outlook for the United States and other wealthy economies but cutting estimates for developing countries struggling with surging COVID-19 infections.
MOVES Barclays picks Faruqui to share leaderhsip of EMEA M&A franchise
Barclays (BARC.L) has appointed Omar Faruqui as co-head of its mergers and acquisitions (M&A) franchise in Europe, the Middle East and Africa as part of a leadership shake-up to ride a wave of deal-making activity in the post-COVID world.
China’s industrial profit growth slows in June on high raw material prices
Profit growth at China’s industrial firms slowed for the fourth straight month in June, as high raw material prices weighed on factories’ margins, pointing to some weakness in the recovery of the world’s second-biggest economy.
