Oil Snaps Five-Day Rally as Virus Continues to Weigh on Demand

In this article Oil fell, snapping a five-day rally, amid renewed fears over the impact on the global economy and fuel demand from Asia’s deadly coronavirus. Brent futures fell 2.3% to trade near $56 a barrel in London, slipping with equity markets as Apple Inc. warned it will fail to meet sales targets this quarter […]

Company sustainability ratings to come under spotlight

Financial consultant Lonsec is working on a product that rates companies from one to 10 on environmental and social sustainability, as financial advisors are increasingly being asked for ethical portfolio options from investors. The new product takes data from companies and financial reports to produce a rating designed to help financial professionals adhere to an […]

Dow futures point to lower open as Apple says coronavirus outbreak will hurt sales

U.S. equity benchmarks Tuesday were indicated lower after Apple Inc., said late Monday that the viral outbreak in China would hurt its second-quarter results, reigniting fears that the disease may disrupt manufacturing supply chains and have broad implications for the global economy and financial markets. Futures for the Dow Jones Industrial Average YMH20, -0.57% were […]

HSBC Reboot Fizzles, Sending Stockholders Looking for the Exits

HSBC Holdings Plc Chairman Mark Tucker promised a strategy reboot. Investors got what some called more of the same — pledges to cut costs and do more with less. The shares plunged by the most since 2017 after buybacks were shelved for two years and the executives themselves said more bad news was still to […]

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 […]