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U.S. Manufacturing Index Indicates Continued Contraction In January
Activity in the U.S. manufacturing sector contracted for the third consecutive month in January, the Institute for Supply Management revealed in a report released on Wednesday. The ISM said its manufacturing PMI dipped to 47.4 in January from 48.4 in December, with a reading below 50 indicating a contraction. Economists had expected the index to edge down to 48.0.
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Illumina Confirms Joydeep Goswami As New CFO
Illumina, Inc. (ILMN), a DNA sequencing and array-based technologies firm, announced Wednesday that Joydeep Goswami has been appointed Chief Financial Officer, effective immediately.
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Hyundai Motor America January Total Sales Up 9%
Hyundai Motor America reported Wednesday that it sold a total of 52,001 units in the month of January, up 9 percent from last year's 47,872 units, driven by new January sales records for Venue, Elantra HEV, IONIQ 5, Santa Fe HEV, Elantra N, Palisade, Kona EV and Kona N. Hyundai fleet sales were 7.2% of total volume for the month.
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U.S. Private Sector Job Growth Slows More Than Expected In January
Private sector job growth slowed by more than expected in the month of January, according to a report released by payroll processor ADP on Wednesday. ADP said private sector employment climbed by 106,000 jobs in January after surging by an upwardly revised 253,000 jobs in December.
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Italy Inflation Eases To 10.1% On Lower Energy Costs, Manufacturing Stabilizes
Italy's consumer price inflation eased notably at the start of the year, primarily due to a sharp reduction in the prices of regulated energy goods, preliminary data from the statistical office ISTAT showed on Wednesday. Separately, a results of the purchasing managers' survey by S&P Global showed that the Italian manufacturing economy showed signs of stabilization at the start of the year.
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M/I Homes Q4 Profit Rises 15%, Revenue Up 16%
M/I Homes, Inc. (MHO), a builder of single-family homes, reported Wednesday that net income for the fourth quarter increased to $130.40 million or $4.65 per share from $113.38 million or $3.83 per share in the prior-year quarter.
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Spain Manufacturing Contraction Softens In January
Spanish factory sector downturn eased at the start of the year as output and new orders fell at slower rates, indicating some tentative signs of market recovery, data released by S&P Global showed on Wednesday. The manufacturing Purchasing Managers' Index rose to 48.4 in January from 46.4 in December. Economists had forecast the reading to improve to 48.0.
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Taiwan Industrial Production Falls 7.93%, Retail Sales Growth At 4-Month High
Taiwan's industrial production declined for the fourth straight month in December, largely led by a sharp contraction in manufacturing output, preliminary data from the Ministry of Economic Affairs showed on Friday. Separate data showed that retail sales growth accelerated markedly at the end of the year.
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U.S. Private Sector Employment Increases Less Than Expected In January
Private sector job growth slowed by more than expected in the month of January, according to a report released by payroll processor ADP on Wednesday.
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Bay Street Likely To See Cautious Start
The Canadian market is likely to see a cautious start Wednesday morning with investors looking ahead to the Federal Reserve's interest rate decision.
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Eurozone Inflation Slows, Manufacturing Logs Mild Contraction
Euro area inflation eased to an eight-month low in January on slower growth in energy prices, and the unemployment rate remained unchanged at a lower level, data from Eurostat showed Wednesday. Elsewhere, a private survey said the factory downturn in the currency bloc slowed suggesting that the worst of the slump has passed.
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Humana Q4 Loss Widens On Charges
Health insurer Humana Inc. reported Wednesday a net loss for the fourth quarter that slightly widened from last year, hurt primarily by charges associated with productivity initiatives, despite 6.6 percent revenue growth. Adjusted earnings for the quarter topped analysts' expectations, while quarterly revenues missed it by a whisker.
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Otis Worldwide Q4 Results Top Estimates; Guides FY23 In Line With View
Otis Worldwide Corp. (OTIS) reported Wednesday that net income for the fourth quarter grew $297 million or $0.71 per share from $281 million or $0.65 per share in the prior-year quarter.
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