Government regulators have issued around $135.6 million fine in separate but related actions against Citigroup Inc. for failing to resolve longstanding internal control and risk issues. The Federal Reserve Board has fined the banking major $60.6 million for violating the Board\'s 2020 enforcement action. In a related activity, the Office of the Comptroller of the...
Biopharmaceutical company Nuvalent, Inc. (NUVL) announced Thursday that Henry Pelish has been promoted to Chief Scientific Officer. In this role, Pelish will continue to oversee discovery and early-stage development activities. He currently serves as Senior Vice President, Drug Discovery. Pelish contributed to the creation of Nuvalent and joined as Biology lead in 2018, overseeing the...
Denim retailer Buckle, Inc. (BKE) reported Thursday that comparable store net sales, for stores open at least one year, for the 5-week period ended July 6, 2024 decreased 5.7 percent. Net sales for the period declined 5.8 percent to $101.7 million from net sales of $108.0 million for the prior-year 5-week period. For the year-to-date...
PepsiCo, Inc. shares were losing around 2.4 percent in the pre-market activity on the Nasdaq. While the company reported higher profit and revenues in its second quarter above market estimates, it slightly adjusted the fiscal 2024 organic revenue growth view. The company further maintained its forecast for annual core earnings growth. Chairman and CEO Ramon...
The U.S. dollar drifted lower against its major counterparts on Thursday amid rising bets about an interest rate cut by the Federal Reserve in September after data showed a drop in the nation\'s consumer price inflation in the month of June. The Labor Department said U.S. consumer price index slipped by 0.1% in June after...
The Canadian market rose to a new all-time high on Thursday thanks to sustained buying in several sectors after soft U.S. inflation data raised prospects of an interest rate cut by the Federal Reserve in September. Real estate, materials, utilities and consumer discretionary stocks were among the most prominent gainers. Scores of stocks from communications,...
The Malaysia stock market has ticked higher in three consecutive trading days, adding almost a dozen points or 0.7 percent along the way. The Kuala Lumpur Composite Index now rests just shy of the 1,625-point plateau although it may be stuck in neutral on Friday. The global forecast for the Asian markets suggests profit taking,...
The Singapore stock market has finished higher in three straight sessions, collecting more than 70 points or 2.1 percent along the way. The Straits Times Index now rests just above the 3,475-point plateau although it may run out of steam on Friday. The global forecast for the Asian markets suggests profit taking, particularly among the...
The Canadian market ended on a strong note on Wednesday thanks to sustained buying in energy and materials shares. Expectations of an interest rate cut by the Federal Reserve helped underpin sentiment. Industrials, utilities, consumer discretionary, consumer staples, healthcare and financials shares were among the other notable gainers in the session. The benchmark S&P/TSX Composite...
The Bank of Korea will wrap up its monetary policy meeting and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The central bank is expected to keep its benchmark lending rate unchanged at 3.50 percent. Japan will release May numbers for core machine orders, with forecasts suggesting an...