The Antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major currencies in the Asian session on Thursday amid risl appetite, as traders reacted positively to a closely watched report on U.S. consumer price inflation that showed a smaller-than-expected increase in the month of April to reinforce expectations the U.S....
Asian stocks rallied on Thursday after Wall Street\'s three major indexes notched record closes overnight on optimism that inflation is heading back in the right direction and that there will be two interest rate cuts by the U.S. Federal Reserve in 2024. Gold was little changed in Asian trading after climbing by 1 percent on...
The Labor Department released a report on Thursday showing U.S. import prices jumped by much more than expected in the month of April. The report said import prices shot up by 0.9 percent in April after climbing by an upwardly revised 0.6 percent in March. Economists had expected import prices to rise by 0.3 percent...
Philadelphia-area manufacturing activity saw a notable slowdown in the pace of growth in the month of May, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The Philly Fed said its diffusion index for current general activity tumbled to 4.5 in May from 15.5 in April, although a positive reading...
Blackstone, Inc. (BX) announced Thursday that Blackstone Growth and affiliated funds have entered into a definitive agreement to acquire a majority stake in Priority Software, a leading provider of mission-critical business software. The terms of the deal were not disclosed. Blackstone\'s investment will help build on the company\'s position at the forefront of the ERP...
Insurer Allstate Corp. (ALL) announced Thursday estimated catastrophe losses for the month of April 2024 of $494 million or $390 million, after-tax. Catastrophe losses in April include 11 events estimated at $491 million, with approximately 80% of the losses related to four wind, hail or tornadic events.
Industrial manufacturer Tredegar Corp. (TG) announced Thursday that, as part of the Brazilian merger review process regarding the sale of Terphane to Oben Group, the General Superintendence of the Administrative Council for Economic Defense (SG-CADE) issued a non-binding opinion recommending the rejection of the transaction. Following this first stage of the two-stage Brazilian merger review...
With a surge in utilities output offset by decrease in mining and manufacturing output, the Federal Reserve released a report on Thursday showing U.S. industrial came in flat in the month of April. The Fed said industrial production came in unchanged in April after inching up by a downwardly revised 0.1 percent in March. Economists...
The Malaysia stock market bounced higher again on Thursday, one day after ending the two-day winning streak in which it had picked up more than 5 points or 0.3 percent. The Kuala Lumpur Composite Index now sits just above the 1,610-point plateau although it\'s likely to see renewed consolidation on Friday. The global forecast for...
The Singapore stock market rebounded on Thursday, one day after snapping the four-day winning streak in which it had advanced almost 50 points or 1.5 percent. The Straits Times Index now rests just beneath the 3,305-point plateau although it may head south again on Friday. The global forecast for the Asian markets suggests consolidation, largely...