Eurozone inflation fell below the 2 percent target for the first time in more than three years in September, signaling faster interest rate cuts from the European Central Bank. The harmonized index of consumer prices posted an annual increase of 1.8 percent compared to a 2.2 percent rise in August, flash data from Eurostat showed...
Shares of McCormick & Co. Inc. were gaining around 5 percent in the pre-market activity on the NYSE after the seasonings and spices maker increased its fiscal 2024 outlook for earnings after reporting higher third-quarter earnings, above market. The company further reaffirmed its sales and operating profit growth outlook for the year on a constant...
The euro weakened against other major currencies in the European session on Tuesday, after Eurozone inflation fell below the 2 percent target for the first time in more than three years in September, signaling faster interest rate cuts from the European Central Bank. The harmonized index of consumer prices posted an annual increase of 1.8...
The Canadian market is likely to open on a cautious note Tuesday morning with investors looking for directional clues. The data on Canadian manufacturing activity in the month of September, and U.S. job openings report could provide some cues. S&P Global will release a report on Canadian manufacturing activity in the month of September at...
CVS Health Corp. is conducting a strategic review of options including a possible breakup amid issues from its drugstore chain and Aetna health insurance arm, reports said citing person familiar with the matter. The company also plans to reduce its workforce by less than 1 percent, which would affect around 2,900 employees, as part of...
While reporting financial results for the first quarter of fiscal 2025 on Tuesday, payroll and HR services provider Paychex Inc. (PAYX) maintained its adjusted earnings growth and revenue growth guidance for the full year 2025. For fiscal 2025, the company continues to project adjusted earnings per share growth in the range of 9 to 10...
Revised quarterly national accounts and mortgage approvals from the UK and flash inflation from Germany are due on Monday, headlining a busy day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK GDP and business investment data. The initial estimate showed that the UK economy grew 0.6 percent...
Antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major currencies in the Asian session on Monday, as Chinese stimulus boosted risk assets and commodities. Traders reacted positively to the additional stimulus measures from the Chinese government to spur growth in the worlds second largest economy. The Chinese government announced...
The Japanese yen strengthened against other major currencies in the early European session on Monday, after the Japans ruling Liberal Democrats chose Shigeru Ishiba, a former defense minister, as the next prime minister. Ishiba is set to succeed current Prime Minister Fumio Kishida on Tuesday. After winning the partys vote on Friday, Ishiba said he...
The UK economy grew at a slower-than-estimated pace in the second quarter on weaker industrial and construction sectors, official data revealed Monday. Gross domestic product advanced 0.5 percent from the first quarter, revised down from the first estimate of 0.6 percent, figures from the Office for National Statistics showed. The economy had expanded by unrevised...