Five Things You Need to Know to Start Your Day

Want to receive this post in your inbox every morning? Sign up here Apple says it will miss guidance due to coronavirus, HSBC targets 35,000 job cuts and Michael Bloomberg qualifies for debate. Here are some of the things people in markets are talking about today. Taking a hit The ever-growing list of companies announcing problems from the extended […]

HSBC Says Virus Outbreak May Expand Loan Losses, Lower Revenue

HSBC Holdings Plc said the full impact of the coronavirus outbreak hasn’t fully been accounted for in its report, signaling it may need to raise its expected loan losses further. The lender said on Tuesday its expected loan losses sank to $733 million in the last three months of 2019, sliding to 0.28% of gross […]

HSBC Traders Accused of Profiting From Confidential FX Bets

Three HSBC Holdings Plc traders were accused of profiting from confidential information on a currency bet as a U.K. lawsuit refocused attention on a front-running scandal at the bank’s foreign exchange desk. The traders, two of whom are only identified by acronyms, took positions in the bank’s proprietary accounts “in parallel to” rigged FX hedges, […]

Trump calls Obama economic boom brag 'con job'

Should Trump admin make tax incentives for buying stock? Steve Moore, economic adviser to President Trump, discusses how to get more people investing in the stock market. It's a heated Presidents Day. Continue Reading Below The roaring U.S. economy has President Trump defending his record against former President Obama who earlier today took a jab […]

The Trump economy, three years in: What the numbers say

Trump: US ‘by far’ biggest economy in the world President Trump speaks in Davos on the prosperous economy and U.S.-China trade deal progress. Donald Trump has been president for a little over three years. With that track record, how is the "Trump economy" doing? Continue Reading Below Did Trump dramatically change economic trends, or did […]

Pier 1 Imports files for chapter 11 bankruptcy

Pier 1 Imports preparing to file for bankruptcy: Report Pier 1 Imports is reportedly preparing to file for bankruptcy and cut 40 percent of its staff. Pier 1 Imports Inc. has filed for bankruptcy with plans to sell the company, less than two months after the troubled home-decor retailer said it planned to close up […]

US Navy awards $1B contract for manufacture of naval nuclear reactor components

Workers on the front lines know US is in ‘right place’: Ret. Navy Seal commander Retired Navy Seal commander and author Jocko Willink discusses President Trump’s successes on the military and economic fronts. A BWX Technologies subsidiary has secured a naval contract worth up to approximately $1 billion. Continue Reading Below The contract, which was […]

Coronavirus: Las Vegas of China casinos told when they can reopen

Coronavirus’ greatest problem is its ability to spread: Professor Columbia University professor of epidemiology Stephen Morse says the current coronavirus outbreak is closely related to SARS. Casino operators in Macao, the world’s biggest gaming enclave, will be allowed to resume operations on Thursday, following 15 days of closure to prevent the spread of the coronavirus. […]

Coronavirus threat part of somber global trade outlook: WTO

Coronavirus will have an impact on US supply chains: Investor Oxbow Advisers managing partner Ted Oakley discusses the impact coronavirus is having on markets and how it could affect the U.S. economy going forward. BRUSSELS (Reuters) – Growth of global trade in goods is likely to remain weak in early 2020, the World Trade Organization (WTO) said on […]

Coles in legal battle over claims of predatory pricing on cigarettes

Coles is battling a Federal Court claim of misuse of market power for predatory pricing on its cigarettes. Former tobacco store owners Anthony, Rebecca and Michael Rachelle have brought the claim against the supermarket giant which will be heard in the Federal Court on Friday. Anthony Rachelle is taking Coles to court over its cigarette […]