Business

Some investors doubt summer surge in corporate bonds will last

A roaring rebound in U.S. corporate bonds is being met with skepticism by some investors, who believe the gains may be short-lived as recession fears dampen the outlook for the $10 trillion market. Hopes that the Federal Reserve will be less aggressive than previously anticipated in its fight against inflation helped drive a powerful rebound […]

Business

European shares rise as upbeat earnings offset gloomy data

European shares rose on Wednesday as a slate of upbeat earnings from companies including Infineon (IFXGn.DE), AXA (AXAF.PA) and Just Eat Takeaway (TKWY.AS) offset some fears of a slowdown following gloomy business activity data from the region. The STOXX 600 index (.STOXX) gained 0.5%, recouping losses from the last two days. The pan-European benchmark fell […]

Business

Fed committed to getting inflation to 2% target, Barkin says

The Federal Reserve is committed to getting inflation under control and returning it to the U.S. central bank’s 2% target, Richmond Fed President Thomas Barkin said on Wednesday, the latest in a litany of policymakers voicing determination to rein in price increases running at the highest pace in four decades. “We are committed to returning […]

Business

JPMorgan, Bank of America invest in L’ATTITUDE Ventures’ first fund

L’ATTITUDE Ventures on Wednesday closed its first institutional fund raising over $100 million with an anchor investment from Wall Street giant JPMorgan Chase (JPM.N) and initial investments from Trujillo Group and Bank of America (BAC.N). The fund which intends to invest in early-stage U.S. companies that are either founded or run by Latino entrepreneurs also […]

Business

U.S. crypto firm Nomad hit by $190 million theft

U.S. crypto firm Nomad has been hit by a $190 million theft, blockchain researchers said on Tuesday, the latest such heist to hit the digital asset sector this year. Nomad said in a tweet that it was “aware of the incident” and was currently investigating, without giving further details or the value of the theft. […]

Business

Steelmaker Ternium expects Q3 revenue to drop with steel price

Steelmaker Ternium (TX.N) expects revenue per ton to decrease in the third quarter of 2022 due to lower benchmark steel prices, the company said in a presentation following second-quarter results Wednesday. Costs per ton should increase, which would likely lead to a lower adjusted earnings before interest, tax, depreciation and amortization (EBITDA) in the third […]

Business

Telecom Italia lifts profit outlook helped by cost cutting

Telecom Italia (TIM) (TLIT.MI) on Wednesday improved its core profit target for the year, helped by cost cutting and the contribution from the company’s Brazilian subsidiary in the second quarter. TIM said its core earnings after lease fell by 14.3% to 1.3 billion euros in the April-June period, marginally ahead of an analyst consensus provided […]