Kohl’s Troubles Deepen as Retailers Call Out Weak Spending
Shares of Kohl’s plunge as much as 21% in New York trading Best Buy, Target have also called out softer consumer demand Kohl’s Corp. shares plunged to the lowest level since 2020 after the company cut its full-year sales outlook, signaling that its turnaround efforts...
Best Buy Warns of ‘Uneven’ Demand, Cuts Sales Outlook
Shoppers were distracted by the election, CEO Barry said After a boom during the pandemic, customers have pulled back Best Buy Co. cut its full-year guidance on sluggish demand for electronics and appliances, a sign of trouble for the retailer looking to pull off a...
Riskiest Stocks Jump as History Says Get In Before Parties Start
Russell 2000 rises 1.5%, nearing first record in three years ‘You can’t fight the tape’: Stock Trader’s Almanac’s Hirsch Traders bought into the riskiest parts of the stock market Monday, with the small-capitalization Russell 2000 Index leaping 1.5% to come within a...
US Treasury Pick Bessent ‘Is a Fiscal Hawk’: Wall Street Reacts
US Treasury market is closed until Monday morning in Asia Trump nominated hedge fund chief as Treasury Secretary Friday Hedge fund chief Scott Bessent’s Friday nomination to become the US Treasury Secretary is offering bond investors a glimpse into the incoming...
US Debt Load Tops Fed’s Survey of Financial Stability Risks
Persistent inflation no longer top concern, Fed survey shows Fed releases its semi-annual financial stability report The US government’s debt load is now seen as the biggest risk to financial stability, outweighing persistent inflation in a Federal Reserve survey....
Corporate investors tap $30bn secondary market to exit startup holdings
The lack of exit options including M&A and initial public offerings is pushing corporate investors to sell VC assets in the growing secondary market. Interest among CVCs seeking to offload venture investments in the secondary market is at all time high amid a...
US Consumer Sentiment Rises Less Than Forecast After Election
University of Michigan final November sentiment at 71.8 Views diverged sharply between Democrats and Republicans US consumer sentiment rose in November by less than previously reported, reflecting deep divisions among Republicans and Democrats about the path for the...
Nickel Price Crash Seen Extending Indonesia’s Grip on Supply
BHP reviews Australia assets as First Quantum halts mine Metal used in stainless steel and batteries extends losses A prolonged slump in nickel prices is stress-testing producers worldwide, raising the prospect of sweeping mine closures that will deepen Indonesia’s...
Indonesia Curbing Nickel Supply to Support Locals, Eramet Says
French miner received 29% less ore sales quota than expected High ore price is a boon for local miners at smelters’ expense Indonesia is squeezing supplies of nickel ore to protect smaller local miners as the market for the battery metal endures a prolonged slump,...
KKR-Bain Brawl Worth $4 Billion Shows Japan Private Equity Boom
Buyout firms are taking bolder steps to clinch deals KKR is bullish on Japan, where its returns are biggest When KKR & Co. offered almost $4 billion for a Japanese IT consulting company back in August, the proposal generated buzz in the country’s burgeoning buyout...
Billionaire Ken Griffin Says He’s Wary of Trump’s Tax-Cut and Tariff Agenda
Trade barriers could lead to crony capitalism, Griffin warns Citadel founder says tax hikes may be needed to alleviate debt Billionaire Ken Griffin cast doubt on two of President-elect Donald Trump’s most loudly heralded economic policy plans: tax cuts and tariff...
Deere Shares Surge on Optimism Farm Gloom Will Lift in 2025
Stock jumps to highest in a year despite weaker profit outlook Traders and executives have been looking for signs of a bottom Shares of Deere & Co. jumped to the highest level in more than a year as investors in the biggest farm machinery maker looked past a...
China Gets ‘Whacked’ in Global Decoupling, ECB’s Lane Says
Any form of trade fragmentation would be detrimental to China’s economy, according to European Central Bank Chief Economist Philip Lane. Speaking at a conference on macroeconomic effects of geopolitical uncertainty in Amsterdam on Thursday, Lane highlighted that...
Chinese AI Pioneer Baidu Posts Biggest Sales Fall Since 2022
Revenue fell 3%, the deepest decline in more than two years Baidu is investing heavily in AI and autonomous driving Baidu Inc. recorded its biggest revenue drop in more than two years after China’s economic malaise undermined its push into generative AI. Revenue for...