London Stock Exchange Group said it was on track to achieve cost savings from the integration of data platform Refinitiv after a steady third quarter, but warned supply chain shortages could impact the timing of its technology spending. The exchange said pro forma underlying income was 1.78 billion pounds ($2.46 billion) in the three months…
London Stock Exchange Warns on Supply Chain Shortages
October 22, 2021
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Equities Eye Third Week of Gains After Tech Boost, Dollar Dips
October 22, 2021
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Asia & PacificBoostBusiness & EconomyChinaChina Business & EconomyCompaniesDollarEconomiesequitiesEuropeInternationalInvestmentLocal NewsMarketsMedia & Big TechNew YorkNY NewsRegional-Local NewsTechUKUSUS NewsWorld
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LONDON—Global shares got a tech boost to help tee up a third straight week of gains on Friday, despite growing inflation concerns, while the dollar dipped and oil prices bounced off their lows. MSCI’s broadest gauge of global shares was up 0.1 percent, 1.4 percent higher on the week and just 0.8 percent off its…
S&P 500 Climbs to Record Closing High; IBM Weighs on the Dow
The S&P 500 boasted a record closing high and its seventh straight session of gains on Thursday while the Nasdaq was boosted by such high-profile stocks as Tesla Inc. and Microsoft Corp. but a tumble in IBM shares weighed on the Dow. After hitting an intraday record the previous day the Dow was in the…
World Bank Sees ‘Significant’ Inflation Risk From High Energy Prices
October 21, 2021
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WASHINGTON—Energy prices are expected to inch up in 2022 after surging more than 80 percent in 2021, fueling significant near-term risks to global inflation in many developing countries, the World Bank said in its latest Commodity Markets Outlook on Thursday. The multilateral development bank said energy prices should start to decline in the second half…
Analysts Cut Asia’s Corporate Earnings Estimates on Growth Concerns
October 21, 2021
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Asian companies’ earnings have been downgraded for the first time in 16 months, data shows, on concerns over slowing growth in China and on worries that higher inflation and supply chain disruptions would weigh on profits. According to Refinitiv IBES estimates data, MSCI Asia-Pacific companies’ earnings estimates for the next 12 months have been cut…
Boston Fed Will Not Release Documents on Its Former President’s Trades
October 21, 2021
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BostonBusiness & EconomyDistrict of ColumbiaEconomieseconomyEric RosengrenFedjerome powellLocal NewspresidentRegional-Local NewsRobert KaplantradesUSUS News
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WASHINGTON—The Boston Federal Reserve will not release documents that could show whether its former president vetted a series of personal investments last year with its ethics officer, a spokesman for the regional Fed bank said, a key point in an ongoing ethics controversy at the U.S. central bank. Eric Rosengren, along with Dallas Fed President…
Poll: Most US Voters Say Biden Responsible for Inflation
Many Americans say that President Joe Biden and his administration’s policies are responsible for growing inflation, a new poll found. According to a Morning Consult/Politico survey (pdf), 62 percent of registered U.S. voters believe the White House is responsible for the nation’s rising inflation. Twenty-eight percent said that President Biden is either not too responsible…
Dow Expects Strong Sales as Higher Prices Power Beat
October 21, 2021
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Dow Inc. on Thursday forecast better-than-expected revenue for the fourth quarter after beating estimates on higher prices across its business following a rebound in economic activity and tight supplies after Hurricane Ida. Demand for the company’s chemicals, used in everything from plastic and food packaging to textiles, electronics, and paints, has bounced back as industrial…
US Existing Home Sales Surge to 8-Month High in September
WASHINGTON—U.S. home sales surged to an eight-month high September, but higher prices as supply remains tight are squeezing out first-time buyers from the housing market. Existing home sales increased by 7.0 percent—the largest increase in a year—to a seasonally adjusted annual rate of 6.29 million units last month, the highest level since January, the National…
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