NEW YORK (Reuters) - U.S. companies are warning about rising wages eating into profit margins, increasing investor worries that next year’s expected drop in profit growth may be sharper than feared. FILE PHOTO - A sign for the Wall Street subway station is seen in the financial district in New York City, U.S., August 23,…
Apple continued its slide on worries about softening demand. The tech giant tumbled 4.8 percent after Goldman Sachs equity analysts cut their price target, citing deteriorating demand, especially in China. China, the world’s largest consumer of oil, has also been weighing on commodities. The price of crude, now just above $53 a barrel, has fallen…
JUST a year ago the world was enjoying a synchronised economic acceleration. In 2017 growth rose in every big advanced economy except Britain, and in most emerging ones. Global trade was surging and America booming; China’s slide into deflation had been quelled; even the euro zone was thriving. In 2018 the story is very different.…
THE FATE of the euro was always going to depend on Italy. With annual GDP of more than €1.6trn ($1.9trn), about 15% of euro-area output and debt of nearly €2.3trn, it poses a challenge to the single currency that Europe seems unable to manage but cannot avoid. Matters are now coming to a head, as…
Goldman Sachs, which lacked the inroads into Saudi Arabia that other banks had, sent its co-president, Harvey M. Schwartz, along with the head of its Middle East and North Africa business. Endeavor, the Beverly Hills holding company for entertainment agencies, sent its co-chief executive, Ariel Emanuel, to help push along negotiations for a Saudi investment.…
print-edition icon Print edition | Finance and economics Sep 1st 2018 | NEW YORK THE document is dry, dusted with references to “benchmarks”, “performance evaluation” and “a metric-based framework”. But the 25 pages published on August 28th by the Office of the Comptroller of the Currency (OCC), one of America’s federal bank regulators, may start…
Paul Volcker, the former Federal Reserve Chairman credited with taming U.S. inflation nearly four decades ago, gave a rare interview Tuesday to the New York Times in which he expressed his pessimism and concerns about the U.S. government and economy during the Trump administration. “We’re in a hell of a mess in every direction,” Volcker…
ON THE campaign trail, Imran Khan, Pakistan’s new prime minister, presented himself as the man to break the country’s addiction to hand-outs from the West. Whereas previous governments used to go begging to the IMF for funds, he said, his Pakistan Movement for Justice (PTI) would focus instead on recouping billions of dollars hidden from…
Sears filed for Chapter 11 bankruptcy early Monday morning after a multiyear battle to stay afloat amid steep declines in sales and customer traffic. The company said that it would close 142 stores before the end of the year and that Eddie Lampert would step down as CEO while remaining the company's chairman. The more…
JPMorgan’s third-quarter earnings report offered both a bang and a whimper. The whimper echoed louder in the ears of investors. The bang: JPMorgan’s revenue rose 5.2% to $27.8 billion, beating analyst expectations by $380 million. Earnings came in at $2.34 a share, again beating forecasts by eight cents. For a few glorious moments, investors cheered…
