25 June

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FedEx Delivers Q4 Earnings Beat; Sees Ongoing Momentum By Investing.com

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By Yasin Ebrahim FedEx (NYSE:FDX) reported Thursday fourth-quarter results that beat analysts' forecasts, driven by strong package services demand and the delivery firm painted a rosy picture about ongoing momentum into its new fiscal year. FedEx shares lost 1.93% in after-hours trade following the report. FedEx announced earnings per share of $5.01 on revenue of $22.6 billion. Analysts polled by Investing.com anticipated EPS of $4.97 on revenue of $21.46 billion. Volume growth and disciplined revenue and portfolio management were partially offset by costs to support strong demand, increased variable compensation expense, and higher labor rates. Looking...

25 June

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China listing frenzy in U.S. set to be boosted by Didi IPO By Reuters

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By Scott Murdoch HONG KONG (Reuters) - Ride-hailing giant Didi Chuxing's planned $4 billion New York debut will supercharge Chinese listings in the United States on the back of an all-time high in the first half the year, despite political sparring between the two countries. A total of 29 initial public offerings (IPOs) by Chinese companies in the United States in the first six months of the year raised $7.6 billion, the highest amount ever for that time period, according to Refinitiv data. That was significantly higher than the $1.9 billion worth of listings in...

25 June

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Bitcoin to become legal tender in El Salvador on Sept 7 By Reuters

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By Nelson Renteria SAN SALVADOR (Reuters) -El Salvador's President Nayib Bukele said in a national address on Thursday that a recently passed law making bitcoin legal tender will take effect on Sept. 7, noting that its use will be optional. El Salvador's Congress already approved Bukele's proposal to embrace the cryptocurrency, making El Salvador the first country in the world to adopt bitcoin as legal tender. "The use of bitcoin will be optional, nobody will receive bitcoin if they don't want it...

25 June

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FedEx Earnings, Revenue beat in Q4 By Investing.com

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FedEx (NYSE:FDX) reported on Thursday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations. FedEx announced earnings per share of $5.01 on revenue of $22.6B. Analysts polled by Investing.com anticipated EPS of $4.97 on revenue of $21.46B. FedEx shares are up 17% from the beginning of the year and are trading at $298.05 , down-from-52-week-high.They are outperforming the S&P 500 which is up 13.59% from the start of the year. FedEx shares lost 1.93% in after-hours trade the report. FedEx follows other major Industrials sector earnings this month FedEx's report...

25 June

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Nike Results Beat in Q4 on Strong Reopening, Digital Sales By Investing.com

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By Yasin Ebrahim Nike (NYSE:NKE) reported on Thursday fourth quarter earnings that beat analysts' expectations as reopening of its retail stores and ongoing strength in digital sales bolstered performance. Nike shares gained 3.09% in after-hours trade following the report. Nike announced earnings per share of 93 cents on revenue of $12.34 billion. Analysts polled by Investing.com anticipated EPS of 51 cents on revenue of $11.11 billion. Gross margin for the fourth quarter increased 850 basis points to 45.8%. The margin expansion was driven by "lower factory cancellation charges, lower inventory obsolescence...

25 June

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Pivotal Toshiba shareholder vote on future of board chairman begins By Reuters

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By Makiko Yamazaki TOKYO (Reuters) - Toshiba Corp kicked off its annual general meeting on Friday, with shareholders set to decide on whether to keep Osamu Nagayama as board chairman. The vote - expected to be very close - is seen by many as a referendum on corporate governance in Japan. Nagayama has been under immense pressure to resign after an independent investigation this month accused the industrial conglomerate of colluding with Japan's trade ministry to block foreign shareholders from gaining influence on the board at last year's AGM. Nagayama's critics say he should take responsibility...

25 June

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Near-term global bond market correction likely-strategists: Reuters poll By Reuters

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By Vivek Mishra and Manjul Paul BENGALURU (Reuters) - A significant global bond market correction is likely in the next three months as central bankers eye the exit door from pandemic emergency policy, according to a Reuters poll of strategists who also forecast modestly higher yields in a year. Financial markets were caught off guard by the Federal Reserve's surprisingly hawkish tone at its meeting last week, sparking a sell-off in equities and a safe-haven rush into Treasuries. While Fed Chair Jerome Powell played down rising price pressures on Tuesday, just a day later two Fed...

25 June

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Apple banks on physical stores as economies reopen, retail chief says By Reuters

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By Stephen Nellis (Reuters) - Apple Inc (NASDAQ:AAPL) AAPL.O is expanding retail operations as the United States emerges from the pandemic, betting that a combination of strategies developed before and during COVID-19 will make its stores more popular than ever, its retail chief told Reuters. Apple is doing this as the retail industry works out what the post-pandemic future will look like, including consumers who have become used to ordering almost everything online. For Apple, the answer is keeping what helped it through the pandemic, and doubling down on its pre-pandemic strategy of...

25 June

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Explainer: Climate change and financial disclosure – what’s at stake? By Reuters

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TOKYO (Reuters) - Japanese financial institutions are struggling to put a price tag on the cost of climate change, an effort made difficult by the long timeframe and a lack of data for making credible predictions. Non-life insurer MS&AD, for one, foresees the potential rise in claim payments in 2050 to be anywhere between 5% to 50% compared to current levels. Below are issues at stake for financial institutions, and where Japan stands on the global debate on assessing financial risks associated with climate change. WHAT'S AT STAKE FOR FINANCIAL INSTITUTIONS? Financial institutions are under...

25 June

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Japan insurers struggle to pinpoint climate change cost estimates By Reuters

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By Leika Kihara and Takahiko Wada TOKYO (Reuters) - As the world tries to price the cost of climate change, Japan's second largest non-life insurer MS&AD foresees the potential rise in claim payments in 2050 to be anywhere between 5% to 50% from current levels. Sompo Holdings, the No. 3 non-life insurer, also plans to announce a similar estimate in August but with plenty of caveats, its officials say. Others, including industry leader Tokio Marine & Nichido Fire Insurance, are wary of even producing estimates, citing a lack of data. "We know our analysis isn't perfect,"...

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News

FedEx Delivers Q4 Earnings Beat; Sees Ongoing Momentum By Investing.com

China listing frenzy in U.S. set to be boosted by Didi IPO By Reuters

Bitcoin to become legal tender in El Salvador on Sept 7 By Reuters

FedEx Earnings, Revenue beat in Q4 By Investing.com

Nike Results Beat in Q4 on Strong Reopening, Digital Sales By Investing.com

Pivotal Toshiba shareholder vote on future of board chairman begins By Reuters

Near-term global bond market correction likely-strategists: Reuters poll By Reuters

Apple banks on physical stores as economies reopen, retail chief says By Reuters

Explainer: Climate change and financial disclosure – what’s at stake? By Reuters

Japan insurers struggle to pinpoint climate change cost estimates By Reuters

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