JPMorgan CEO Jamie Dimon warned his fellow shareholders of increased U.S. inflation due to “a growing need for increased spending” in his annual shareholder letter published on Monday. Covering everything from AI to policy making, Dimon’s letter lauded the U.S. economy for being “resilient” despite an “unsettling landscape,” particularly in the face of growing inflation...
The Japanese yen strengthened against other major currencies in the Asian session on Friday, as Asian stocks traded lower following the sell-off on Wall Street overnight, on renewed concerns over the outlook for interest rates, with the likelihood of a rate cut in June remaining uncertain. Higher energy prices will keep inflation elevated and convince...
UK house prices declined for the first time in six months in March, data published by the mortgage lender Halifax showed Friday. House prices dropped 1.0 percent on a monthly basis in March, in contrast to the 0.3 percent rise in February. This was the first decrease since September. Prices were expected to climb 0.3...
Viking Holdings Ltd. announced Friday that it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its ordinary shares. The company has not determined the number of ordinary shares to be offered and the price range for the proposed offering....
Arch Insurance North America, part of Arch Capital Group Ltd. (ACGL), announced Friday it has entered into a master transaction agreement to acquire the U.S. MidCorp and Entertainment insurance businesses, including select specialty insurance programs, from Allianz Global Corporate & Specialty SE (AGCS) for a $450 million cash consideration to Allianz. Arch estimates its capital...
A closely watched report released by the Labor Department on Friday showed employment in the U.S. shot up by much more than expected in the month of March. The Labor Department said non-farm payroll employment spiked by 303,000 jobs in March after surging by a downwardly revised 270,000 jobs in February. Economists had expected employment...
The U.S. Consumer Product Safety Commission or CPSC has announced recalls including Walmart\'s electric mini choppers, children\'s pajamas, child bike seats, bed rails, as well as baby nests and crib bumpers citing various reasons. Walmart\'s Mainstays electric mini choppers were called back due to laceration hazard, and Thule\'s RideAlong rear-mounted child bike seats were recalled...
The Canadian market is up firmly in positive territory around late morning on Friday, led by gains in materials, technology and consumer sector stocks. Data showing a drop in Canadian employment and a rise in the unemployment rate has eased concerns about the outlook for interest rates. Investors are also reacting positively to upbeat non-farm...
The U.S. dollar moved higher against its major counterparts in the New York session on Friday, as strong-than-expected jobs data for March dampened hopes of imminent interest rate cuts by the Federal Reserve. Data from the Labor Department showed that non-farm payroll employment spiked by 303,000 jobs in March after surging by a downwardly revised...
Indian shares are seen opening higher on Monday despite mixed cues from global markets. Investors are likely to keep a close eye on the latest geopolitical developments after Israel said it would pull some troops out from Gaza. Iran continued to prepare a response to a suspected Israeli attack on its consulate in Syria, while...