13 May

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FTSE 100 declines, Musk dents cryptos, USD remains firm By Investing.com

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Key Points FTSE 100 closing price of 6,963.80, -0.6% BT and Burberry fall after trading updates Musk U-turn dents cryptos Oil falls as pipeline resumes By Samuel Indyk Investing.com – The FTSE 100 closed in the red on Thursday but off the lows as US stocks regained some lost ground. Having dropped over 2% to a low of 6,823, the index staged a recovery throughout the afternoon to close lower by just 0.6%. BT Group (LON:BT) was the worst performing stock in the blue-chip index after the company announced revenue fell 7%...

13 May

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Lowe’s Rises on Oppenheimer Upgrade By Investing.com

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By Christiana Sciaudone Investing.com -- Lowe's rose 3% after Oppenheimer upgraded the stock. The home improvement company was bumped to outperform from perform by analyst Brian Nagel, StreetInsider reported. "Our refreshed, more upbeat call on Lowe’s (NYSE:LOW) is largely tactical in nature and hinged upon prospects for a continued flow of funds into more cyclically focused equites and a now historically discounted valuation versus that of Home Depot (NYSE:HD)," Nagel wrote in a note. Lowe's hit a record this week, and the stock has been considered a Covid-19 winner amid a frenzy...

13 May

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McDonald’s Gains as It Hikes Wages to Attract Labor By Investing.com

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By Dhirendra Tripathi Investing.com – McDonald’s (NYSE:MCD) shares were up 1% Thursday after the company raised its hourly wages to strengthen its workforce in a tight labor market. The fast-food restaurant operator is raising wages for company-owned restaurants in the U.S. by an average of 10%, aiming to hire 10,000 people over three months at those outlets. Unemployment remains high even as companies struggle to find help. The company’s management had indicated a wage hike at its earnings conference call on April 29. “And so, we're working through what some changes in our company-owned restaurants might...

13 May

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Soccer-Premier League clubs renew UK TV deals, skip auction By Reuters

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By Rohith Nair (Reuters) -English Premier League soccer clubs have renewed their existing UK broadcast deals with Sky, BT and Amazon (NASDAQ:AMZN) for another three years, avoiding an auction process that could have lost them money due to a drop in competition between broadcasters. The deals for the 2022-23 to 2024-25 seasons will be concluded at the same overall value as the current arrangements, the league said, around 5 billion pounds ($7 billion) in total. Skipping the auction will be a relief to England's top 20 clubs as revenues from domestic broadcast rights deals...

13 May

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UK government to launch consultation on protecting cash – minister By Reuters

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LONDON (Reuters) - The British government will launch a public consultation on legislation to protect access to cash this summer, financial services minister John Glen said on Thursday. The consultation will consider a proposal to ensure access to cash within reasonable travel distances and evaluate which firms fall within the scope of the requirement, Glen told a webcast event by consumer group Which! "The government believes the Financial Conduct Authority would be best placed to play a leading role in holding firms to account on access to cash so that the needs of consumers and...

13 May

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UK ex-PM Cameron says facing Greensill inquiry is ‘painful’ By Reuters

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By William James LONDON (Reuters) -Former British Prime Minister David Cameron said on Thursday that it was "painful" for him to have to face parliamentary scrutiny over the collapse of Greensill Capital, for which he had acted as an advisor and lobbyist. "This is a painful day coming back to a place that I love and respect so much, albeit virtually, but in these circumstances," he said in an opening statement to the House of Commons' Treasury Committee. "Lobbying itself is a necessary and healthy part of our democratic process, but I accept that there's a...

13 May

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U.S. Mortgage Rates Fall for Second Week, With 30-Year at 2.94% By Bloomberg

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(Bloomberg) -- U.S. mortgage rates fell for a second straight week, dropping closer to the lowest on record. The average for a 30-year loan was 2.94%, down from 2.96% last week and the lowest since Feb. 18, Freddie Mac (OTC:FMCC) data showed Thursday. The 30-year average, which hit a record low of 2.65% in early January, had climbed above 3% this year amid optimism about an economic rebound from the pandemic. Now, rates have been below that benchmark for the past four weeks. Cheap loans have fueled the past year’s rally...

13 May

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City of London says access to EU markets not on the cards By Reuters

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By Huw Jones LONDON (Reuters) - Britain's financial services sector won't get access to the European Union's markets for the foreseeable future following Brexit, industry officials said on Thursday as a row with France simmers. Britain fully left the EU on Dec. 31, 2020 and the City of London has been largely cut off from providing services in the bloc. Billions of euros in daily derivatives and share trading have left the City for the EU and New York, with no sign that Brussels will reinstate UK access under its 'equivalence' regime. "I don't think equivalence...

13 May

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Alibaba ADR Earnings miss, Revenue beats In Q4 By Investing.com

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Alibaba (NYSE:BABA) ADR reported on Thursday fourth quarter earnings that missed analysts' forecasts and revenue that topped expectations. Alibaba ADR announced earnings per share of 10.32 on revenue of 187.40B. Analysts polled by Investing.com anticipated EPS of 11.8 on revenue of 180.08B. Alibaba ADR shares are down 8.58% from the beginning of the year and are trading at 212.77 , down-from-52-week-high.They are under-performing the EUR/USD which is down 0% from the start of the year. Alibaba ADR shares lost 3.24% in intra-day trade the report. Alibaba ADR follows other major Services sector...

13 May

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Sonos Jumps On Raising Forecast After Swinging Back Into Profit By Investing.com

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By Dhirendra Tripathi Investing.com – Sonos (NASDAQ:SONO) shares jumped 11% Thursday a day after the company raised its outlook for the full year following a return to profitability. The company now sees its 2021 adjusted earnings before interest, taxes, depreciation and amortization in a range of $225 million to $250 million, representing growth of 107% to 130%. It had earlier expected this to come between $195 million and $225 million. The higher guidance impressed traders as it comes amid a global shortage of chips that go into Sonos’s smart speakers and other products. Revenue is now...

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FTSE 100 declines, Musk dents cryptos, USD remains firm By Investing.com

Lowe’s Rises on Oppenheimer Upgrade By Investing.com

McDonald’s Gains as It Hikes Wages to Attract Labor By Investing.com

Soccer-Premier League clubs renew UK TV deals, skip auction By Reuters

UK government to launch consultation on protecting cash – minister By Reuters

UK ex-PM Cameron says facing Greensill inquiry is ‘painful’ By Reuters

U.S. Mortgage Rates Fall for Second Week, With 30-Year at 2.94% By Bloomberg

City of London says access to EU markets not on the cards By Reuters

Alibaba ADR Earnings miss, Revenue beats In Q4 By Investing.com

Sonos Jumps On Raising Forecast After Swinging Back Into Profit By Investing.com

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