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Dollar Rises To 3-month High As Powell's Testimony Raises Rate Hike Concerns
The U.S. dollar climbed to a three-month high on Tuesday, scoring strong gains against its major counterparts in the process, as Federal Reserve Chairman Jerome Powell said the central bank will likely raise rates more than previously expected to fight inflation.
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852 days ago
Swiss Market Ends Weak Again
After a weak start and a subsequent recovery Tuesday morning, the Switzerland stock market retreated and stayed weak to eventually end the session notably lower.
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852 days ago
European Stocks Close Lower As Powell's Comments Hurt Sentiment
European stocks fell on Tuesday after U.S. Federal Reserve Chair Jerome Powell warned in his congressional testimony that the central bank will likely raise interest rates higher than previously thought to fight inflation.
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852 days ago
U.S. Wholesale Inventories Decrease In Line With Estimates In January
A report released by the Commerce Department on Tuesday showed wholesale inventories in the U.S. decreased in line with economist estimates in the month of January. The Commerce Department said wholesale inventories fell by 0.4 percent in January after inching up by 0.1 percent in December. The drop matched expectations as well as the preliminary estimate.
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852 days ago
Powell Says Rates Likely Headed Higher Than Previously Anticipated
Federal Reserve Chair Jerome Powell delivered his highly anticipated semiannual monetary policy testimony before the Senate Banking Committee on Tuesday. Citing stubbornly elevated inflation and stronger than expected economic data, Powell told lawmakers the "ultimate level of interest rates is likely to be higher than previously anticipated."
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852 days ago
Nielsen Holdings Appoints Warren Jenson As New CFO
Nielsen Holdings plc (NLSN), an audience measurement, data and analytics company, announced Tuesday the appointment of Warren Jenson as Chief Financial Officer (CFO), effective April 15, 2023.
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852 days ago
German Factory Orders Unexpectedly Strengthen
Germany's factory orders unexpectedly expanded in January on strong foreign demand for aircraft and spacecraft construction and automobile engines, figures from Destatis revealed on Tuesday. Factory orders grew 1.0 percent in January from December, confounding expectations for a decline of 0.9 percent. Nonetheless, the pace of growth eased from December's revised 3.4 percent expansion.
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852 days ago
more news
HanesBrands Inks Multi Year Apparel Agreement With UCLA
HanesBrands (HBI), the world's largest supplier of collegiate fan apparel, and the University of California, Los Angeles or UCLA, announced Tuesday a multi-year apparel agreement that gives HBI exclusive rights to design, manufacture and distribute high-quality, on-trend Bruins fanwear in the mass retail channel.
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852 days ago
Bay Street Seen Opening With Negative Bias
Canadian shares are likely to open with a negative bias on Tuesday, tracking weak crude oil and bullion prices.
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852 days ago
DICK'S Sporting Q4 Results Top Estimates; Doubles Dividend
Sporting goods retailer DICK'S Sporting Goods Inc. (DKS) reported Tuesday that profit for the fourth quarter decreased 32 percent from last year, hurt by lower gross margins despite a 7.3 percent net sales growth. Adjusted earnings per share and quarterly net sales topped analysts' estimates. The company also initiated earnings and consolidated same store sales guidance for the full-year 2023.
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852 days ago
UK House Prices Rise At Fastest Pace In 8 Months
Despite the cost of living crisis, UK house prices increased the most in eight months in February underpinned by improving consumer confidence and the resilient labor market, data from the Lloyds Bank subsidiary Halifax and S&P Global showed on Tuesday. House prices logged a monthly increase of 1.1 percent in February, faster than the 0.2 percent increase posted in January.
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852 days ago
Thor Industries Slashes FY23 Outlook As Q2 Results Miss Estimates
Thor Industries, Inc. (THO), manufacturer of recreational vehicles, reported Tuesday that net income attributable to the company for the second quarter was $27.08 million or $0.50 per share, sharply down from $266.57 million or $4.79 per share in the prior-year quarter.
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852 days ago
Dole Q4 Results Top Estimates; Declares Dividend
Fresh produce supplier Dole plc (DOLE) reported Tuesday net income attributable to Dole for the fourth quarter of $6.8 million or $0.07 per share, compared to a net loss of $29.3 million or $0.31 per share in the prior-year quarter. Excluding items, adjusted income was $0.09 per share, compared to $0.00 per share in the year-ago quarter.
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852 days ago
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