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Business

“JPMorgan Hikes BYD’s Price Target by More Than 80% on Outlook”

“JPMorgan Chase & Co.’s analysts raised their price targets for BYD Co. by more than 80% on expectations the Chinese automaker will deliver 6 million vehicles globally in the next two years… BYD has focused on boosting international sales and… Continue Reading…

Business

“Verizon Earnings Top Views, Wireless Service Revenue Beats On Price Hikes”

“Verizon Communications (VZ) on Monday reported first-quarter earnings that fell from a year earlier but topped Wall Street estimates. Verizon stock initially rose, then reversed down although wireless service revenue came in above expectations. Reported before the market open, Verizon earnings… Continue Reading…

Economy

“Turkey’s inflation climbs to 68.5% despite continued rate hikes”

“Turkey’s annual inflation rose to 68.5% for the month of March, an increase on February’s 67.1% inflation read, according to the Turkish Statistical Institute’s report released Wednesday. The monthly rise in consumer prices came out at 3.16%, led by education, communication,… Continue Reading…

Economy

“Pepsi, Lay’s dropped by one of the world’s biggest grocers over price hikes”

“France-based Carrefour, one of the world’s largest grocery chains, told customers Thursday it is pulling Lay’s, Doritos, Lipton teas and other PepsiCo products in protest of increased prices. Stores in France, Italy, Belgium and Spain will be affected, multiple news… Continue Reading…

Banking, Economy

“US Inflation Slows, Giving Room for Fed to Pause Rate Hikes”

“…Both the consumer price index and the core CPI — which excludes food and energy — decelerated on an annual basis, highlighting inflation’s descent since peaking last year. At 4%, year-over-year inflation is now at its lowest level since March… Continue Reading…

Business, Stocks

“Coca-Cola earnings beat estimates, fueled by price hikes and higher demand”

“Coca-Cola on Monday reported quarterly earnings and revenue that topped analysts’ expectations, fueled by price hikes and higher demand for its drinks. Shares of the company rose 1% in premarket trading. Here’s what the company reported compared with what Wall… Continue Reading…

Business

“Nestle plans price hikes after inflation eats into profits”

“The world’s biggest food group Nestle will raise prices further this year, Chief Executive Mark Schneider said on Thursday, after more expensive ingredients contributed to full-year net profit missing analyst expectations…. The maker of Nescafe instant coffee and KitKat chocolate… Continue Reading…

Economy

“Inflation: Consumer prices rise 8.3% over last year in August, tanking stocks and clinching rate hikes”

“…The Consumer Price Index (CPI) in August reflected an 8.3% increase over last year and a 0.1% increase over the prior month, the Bureau of Labor Statistics reported Tuesday. Economists had expected prices to rise 8.1% over last year and fall 0.1%… Continue Reading…

Energy

“OPEC+ bows to pressure and agrees to increase size of oil output hikes by 50%”

“OPEC+ will increase the size of its oil-supply hikes by about 50 per cent, bowing to months of pressure from major consumers including the U.S. to help ease the pain of high energy prices. Ministers agreed on Thursday that the… Continue Reading…

Banking

“Bank of England hikes interest rates to 13-year high, sees inflation hitting 10%”

“…The Bank’s Monetary Policy Committee approved a 25-basis point increase by a majority of 6-3, taking the base interest rate up to 1%. The Bank said the members in the minority preferred to increase interest rates by 0.5 percentage points… Continue Reading…