Article content Canada’s main stock index fell on Thursday, weighed down by losses in commodity-linked sectors, even as fund manager CI Financial soared on a minority stake sale in its U.S. wealth management business. CI Financial Corp surged 44.2%, the biggest jump in 29 years, after the fund manager also beat quarterly revenue estimates. Article […]
Article content Peloton Interactive Inc will recall 2.2 million exercise bikes due to the risk of injuries from a seat-related issue, the company said on Thursday, sending its shares down 7%. The voluntary recall piles on more pressure on Peloton as it works to tackle waning demand for its fitness equipment amid an uncertain economy. […]
Article content Activist investor Elliott Investment Management L.P. disclosed a large investment in Goodyear Rubber & Tire Co on Thursday and said it is pushing the company to strengthen its financial position by selling stores and starting an operational review. Elliott holds a 10% economic interest in the company, making it one of Goodyear’s biggest […]
Article content WASHINGTON — The U.S. Public Company Accounting Oversight Board (PCAOB) found unacceptable deficiencies in audits of U.S.-listed Chinese companies performed by KPMG in China and PriceWaterhouseCoopers in Hong Kong, the government agency said on Wednesday. The U.S. audit watchdog published the findings of its inspections after gaining access to Chinese company auditors’ records […]
Breadcrumb Trail Links PMN Business Author of the article: Reuters Sergio Goncalves Published May 10, 2023 • 1 minute read Join the conversation Article content LISBON — Portugal’s economy could face a sharper economic slowdown than previously expected due to interest rate hikes by the European Central Bank (ECB), turmoil in global financial markets and […]
Breadcrumb Trail Links PMN Economy PMN Business Author of the article: Reuters Karen Brettell Published May 09, 2023 • 2 minute read Join the conversation Article content NEW YORK — Treasury yields were little changed on Tuesday as investors awaited consumer price inflation Financial Post Top Stories Sign up to receive the daily top stories […]
Breadcrumb Trail Links PMN Business Author of the article: Reuters Shreyashi Sanyal and Shristi Achar A Published May 09, 2023 • 2 minute read Join the conversation Article content U.S. stock indexes fell on Tuesday, weighed down by a slew of dour earnings forecasts from companies such as Paypal and Apple supplier Skyworks, while investors […]
Article content Shares of cryptocurrency- and blockchain-related companies fell in early trading hours on Monday after Binance halted its bitcoin withdrawals for several hours due to heavy volumes and rising processing fees. The halts pushed bitcoin, the world’s biggest cryptocurrency, down 2% to a one-week low of $27,900. Article content Crypto exchange Coinbase Inc fell […]
Article content NEW YORK — Foreign investors funneled nearly $10 billion into emerging market portfolios in April, with Asia taking the lion’s share despite net outflows from China, data from the Institute of International Finance shows. Net inflows have now extended to four consecutive months, the longest streak in over a year, although volumes are […]
Breadcrumb Trail Links PMN Business Author of the article: Reuters David Randall Published May 07, 2023 • 3 minute read Join the conversation Article content NEW YORK — Fears of stagflation are percolating on Wall Street, as investors await data that could shed light on whether the Federal Reserve is succeeding in tamping down inflation […]