European shares open higher as investors weigh rate rise outlook

European shares opened the week higher, following losses in the previous session as a red-hot US jobs report added to expectations of aggressive interest rate rises by the Federal Reserve. The regional Stoxx Europe 600 gained 0.8 per cent in early dealings, with the FTSE 100 up 0.6 per cent. In Asian markets, Hong Kong’s … Read more

Copper edges higher as low inventories cushion recession worries

Breadcrumb Trail Links PMN Business Author of the article: Article content Copper prices advanced on Monday, as declining inventories and improved exports in top consumer China overshadowed fears of weakening demand from a global recession. Three-month copper on the London Metal Exchange rose 0.7% to $7,928 a tonne by 0705 GMT, while the most-traded September … Read more

Wheat ticks higher, Ukrainian exports limit gains; corn dips

Breadcrumb Trail Links PMN Economy PMN Business Author of the article: Article content SINGAPORE — Chicago wheat futures edged higher on Thursday, recouping some of the previous session’s losses but pressure from expectations of higher sea-borne grain exports from Ukraine curbed gains. Corn lost ground, falling for the first time in four sessions, while soybeans … Read more

2 reasons the ‘risk of recession is getting higher and higher’: Mohamed El-Erian

The risk of a recession “is getting higher and higher,” says veteran economist Mohamed El-Erian. “My definition of a recession is a holistic definition. It goes well beyond two quarters of negative GDP,” said the chief economic advisor of Allianz and former CEO of PIMCO. “The labor market is too strong. Consumer spending is too … Read more

Acushnet Holdings stock swings higher on earnings beat, raised guidance (NYSE:GOLF)

D. Lentz/iStock Unreleased via Getty Images Acushnet Holdings (NYSE:GOLF) accelerated on Thursday after posting a comfortable beat on earnings estimates and raising full year forecasts. The Fairhaven, Massachusetts-based golf product distributor posted GAAP EPS of $0.91 for the first quarter, $0.18 above expectations. Meanwhile, a 5.4% jump in revenue to $658.6M beat estimates by $76.71M. … Read more

Axa announces share buyback plan, posts higher profit

(Reuters) — French insurer Axa announced a new share buyback program as it posted a 3% rise in first-half net profit, driving up its stock price. Axa, Europe’s second-biggest insurer, behind Germany’s Allianz, said it would buy back up to €1 billion ($1 billion) worth of its shares, echoing a similar buyback plan unveiled by rival Generali this week.  … Read more

CVS Posts Another Earnings Beat and Raises Guidance. The Stock Moves Higher.

Text size A CVS pharmacy store in San Francisco. David Paul Morris/Bloomberg CVS Health beat earnings estimates and raised its full-year guidance for the second quarter in a row, boosting the stock in premarket trading. CVS (ticker: CVS) posted adjusted profit of $2.40 a share, topping forecasts for $2.18, according to FactSet. Sales were $80.6 … Read more

SocGen reports €1.5bn loss on Russia exit but higher than expected revenues

French bank Société Générale swung to a €1.5bn loss in the second quarter after selling out of Russia, but has reported higher than expected revenues across its business and set out new growth targets. France’s third-biggest listed bank said on Wednesday that without the €3.3bn writedown from selling its Rosbank business in May, underlying net … Read more

Gold rebounds as dollar retreat, Sino-US tensions offset higher bond yields

By Brijesh Patel (Reuters) – Gold prices rose on Wednesday as a pullback in the dollar and Sino-U.S. tensions helped counter pressure from a rise in U.S. Treasury yields after hawkish comments from Federal Reserve officials on interest rate hikes. Spot gold was up 0.4% at $1,766.59 per … Read more