By Michael S. Derby NEW YORK (Reuters) – The head of the Federal Reserve Bank of New York’s powerful Markets Group, Michelle Neal, is stepping down and will leave the bank in March 2025, the bank said in a press release on Thursday. Neal will serve as a senior advisor at the bank until she…
(Reuters) -Costco Wholesale marginally beat Wall Street expectations for first-quarter revenue on Thursday, as more Americans turned to the membership-only retail chain to shop for everything from food to home furnishings for the holiday season. Shares of the company were up 1.4% in extended trading. The retailer, which sells products in larger packs and has…
(Reuters) -Broadcom forecast its first-quarter revenue above Wall Street estimates on Thursday, betting on booming demand for its custom artificial intelligence chips and networking gear from cloud providers doubling down on GenAI infrastructure adoption. The company forecast revenue of about $14.6 billion for the first quarter, compared with analysts’ average estimate of $14.57 billion according…
By Marcela Ayres and Fernando Cardoso BRASILIA (Reuters) – Brazil’s currency reversed course and weakened against the U.S. dollar on Thursday, despite a larger-than-expected interest rate hike by the central bank and its signal of more aggressive increases ahead. After opening the session 1% higher, the Brazilian real shifted direction to end the day down…
Investing.com – Broadcom on Thursday delivered upbeat revenue guidance for the current quarter amid surging AI-revenue, though the chipmaker reported mixed Q4 results as revenue fell just short of estimates. Broadcom Inc (NASDAQ:AVGO) shares gained 4% in after-hours trade following the report. For three months ended Nov. 3, the chipmaker announced earnings per share of…
Investing.com — The S&P 500 closed lower Thursday as Treasury yields climbed following a hotter-than-expected inflation report. At 4:00 p.m. ET (21:00 GMT), the Dow Jones Industrial Average fell 234 points, or 0.5%, the S&P 500 index slipped 05%, and the NASDAQ Composite dropped 0.7%. PPI data comes in higher than expected Consumer price index…
By Hernan Nessi BUENOS AIRES (Reuters) – Argentina’s economy is expected to have contracted 2.6% in the third quarter of 2024 versus a year earlier, the sixth straight such decline, but expanded against the quarter before, breaking a technical recession going back to the end of last year. A Reuters poll on Thursday, involving 13…
PARIS (AP) — One of the most prestigious roles in global fashion has just been filled, as Chanel appointed Franco-Belgian designer Matthieu Blazy as its new artistic director, the fashion house announced Thursday. The 40-year-old will oversee all collections for the world’s second biggest luxury brand starting in 2025, replacing Virginie Viard, who parted ways…
Investing.com — Oil prices are likely to drop 10% from current levels in 2025, weighed down by a wave of supply that will likely outpace demand, analysts at BofA said in a recent note. Crude Oil WTI Futures crude to average $61 per barrel next year, with WisdomTree Brent Crude Oil (LON:BRNT) at $65 per…
(Reuters) – Apple (NASDAQ:AAPL) is planning to switch to a homegrown chip for Bluetooth and Wi-Fi connections for its devices starting next year, a move that will phase out some parts currently supplied by Broadcom (NASDAQ:AVGO), Bloomberg News reported on Thursday. The chip, code-named Proxima, has been under development for several years and is now…
