The crisis in the British pound is over, but analysts see further weakness ahead

The crisis in the British pound is over, but analysts see further weakness ahead

Traders in London. DANIEL LEAL-OLIVAS | AFP | Getty Images LONDON – The British pounds is on firmer footing since the appointment of new prime minister Rishi Sunak, but Wall Street still sees further vulnerability over the next 12 months. After falling to a record low against the dollar below $1.04 on September 25 following … Read more

The Bank of England is set for the biggest rate hike in 33 years, but economists expect a dovish tilt

The Bank of England is set for the biggest rate hike in 33 years, but economists expect a dovish tilt

Buses pass in the City of London financial district outside the Royal Exchange near the Bank of England on July 2, 2021 in London, UK. Mike Kemp | In pictures | Getty Images LONDON — The market expects the Bank of England to raise interest rates by 75 basis points on Thursday, its biggest increase … Read more

Wynn Resorts, TuSimple, Newell Brands, First Solar and more

Wynn Resorts, TuSimple, Newell Brands, First Solar and more

This photograph taken on October 20, 2022 shows the signage of Wynn Casino resort with Grand Lisboa and Casino Lisboa in the background in Macau. Eduardo Leal | AFP | Getty Images Check out the companies making headlines in the dinner trade. Wynn Resorts – Shares in the casino operator rose 10% after a filing … Read more

Strategist says don’t buy stocks in European banks yet

Strategist says don’t buy stocks in European banks yet

“I certainly wouldn’t invest in European banks right now.” Those are comments from an investment adviser despite lenders on the continent posting big third-quarter results this week. Beat Wittmann, chairman of Porta Advisors, told CNBC that lenders are in a tough trading environment as the region faces a recession over the next three to six … Read more

Deutsche Bank earnings 3rd quarter 2022

Deutsche Bank earnings 3rd quarter 2022

Deutsch Bank reported earnings for the third quarter. Bloomberg | Bloomberg | Getty Images German bank on Wednesday smashed market expectations and reported net income of 1.115 billion euros ($1.11 billion) for the third quarter. Analysts had predicted a net profit of 827 million euros, according to data from Refinitiv. “We have significantly improved Deutsche … Read more

Shares to buy amid recession fears and rising prices

Shares to buy amid recession fears and rising prices

Central banks are relentlessly raising interest rates to curb inflation – even at the expense of economic growth – giving rise to fears of a recession. Goldman Sachs said it believes the U.S. is set for a “soft landing. The bank’s European chief economist Jari Stehn expects Europe to tip into a recession this quarter … Read more

The top global stocks rose sharply last week

The top global stocks rose sharply last week

Global stocks fell last week, but some beat the market. The MSCI World Index fell 1.69% week-to-date and followed US losses as both the S&P 500 and Nasdaq ended the week lower, falling 1.55% and 3.11% respectively. Markets rallied during the week as investors digested new inflation data that will inform the Fed’s monetary policy … Read more

N26 losses increase after increasing fraud control spending

N26 losses increase after increasing fraud control spending

The logo of the German online bank N26 is displayed on a smartphone. Thomas Trutschel | Photothek via Getty Images German mobile bank N26 reported a sharp rise in annual revenue on Tuesday as usage of its platform grew, but losses also ticked higher following a rise in regulatory compliance costs. N26’s net revenue rose … Read more

Which stock to buy, according to the pros

Which stock to buy, according to the pros

Luxury carmaker Porsche’s market capitalization overtook its former parent Volkswagen Group a week after its stock market debut. Shares in Porsche AG closed more than 10% higher at the end of the first week of trading, valuing the company at 82.65 billion euros ($80.6 billion) — making it Europe’s most valuable carmaker. Volkswagen, which sold … Read more