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Internet stocks were hit hard during the first half of 2022 as rising inflation drove investors away from the growth sector, which is most sensitive to rising interest rates. The pain lies ahead as the economy shows signs of softening in consumer demand, but according to Evercore ISI, some stocks may weather the storm better … Read More “Evercore ISI sees trouble for internet stocks, but names top picks” »
A restaurant worker at a May 26, 2021 “Wage Strike” event organized by One Fair Wage in Washington, DC Anna Moneymaker | Getty Images News | Getty Images Workers earning a minimum wage are getting an increase in income in parts of the United States, thanks to new, higher minimum wage rates that went into … Read More “Because experts say a higher federal minimum wage is long overdue” »
BENGALURU: Main indices on Wall Street were set to open higher on Thursday as investors assessed the monetary policy outlook amid growing concerns about an economic slowdown following aggressive interest rate hikes to tackle inflation. Global stock markets tumbled in the first half of the year against a backdrop of rising inflation, the Ukraine conflict … Read More “Wall St.’s eyes wide open as investors assess interest rate outlook” »
According to RBC Capital Markets, Boston Beer has “much more to take away” for now, as hard seltzer’s popularity has waned, and it fails to innovate on new products. Analyst Nick Modi downgraded Boston Beer shares from outperform to sectoral performance, saying in a note Thursday that weak sales of its hard seltzer line are … Read More “RBC Downgrades Boston Beer, Cuts Price Target on Decking Popularity of Truly Hard Seltzer” »
US casinos, gaming companies and lawmakers are calling on federal prosecutors to crack down on illegal offshore gambling sites they say are evading consumer protection rules. The push comes as sports gambling has expanded rapidly in recent years with more than 30 states in the US and Washington, DC. “What was once a relative nuisance, … Read More “Casino industry urges federal prosecutors to crack down on illegal operators” »
According to Bank of America, it’s time to sell Kohl’s shares as consumer demand weakens from inflation, and after the retailer ends deal negotiations. Analyst Lorraine Hutchinson downgraded Kohl’s shares from neutral to underperforming as inflationary pressures cut into sales at the department store chain, according to a Thursday note. Hutchinson wrote, “We are downgrading … Read More “Bank of America downgraded to underperforming Kohl’s sees risk for stock with deal off-the-table” »
Visual lifestyle | E + | Getty Images Homebuyers are feeling the pressure of rising mortgage rates. Furthermore, house prices remain high. This could lead many to rethink their budget. “As mortgage rates rise, the cost of buying a home with a mortgage increases,” explained Danielle Hale, chief economist at Realtor.com. “For many homebuyers, higher … Read More “Mortgage rates rise. Here’s how to change the budget for your home” »
Kuala Lumpur: green produce has received approval from its shareholders at the EGM to acquire a 65% equity interest in Greenfield Rubber Holdings (M) Limited (GRHM) for RM87.8mil. In a statement, the horticulturist said that GRHM is an investment holding company and acts as an agent for the sale and purchase of rubber and rubber … Read More “GreenEiled wins shareholders’ nod to buy assets in PNG” »
On Wednesday, Shell said the Holland Hydrogen I facility will be “Europe’s largest renewable hydrogen plant” when it begins operations in 2025. Shell is one of several large firms that want to have a marker in this area. Ina Fassbender | AFP | Getty Images Plans to build a major hydrogen plant in the Netherlands … Read More “Shell to build ‘Europe’s largest renewable hydrogen plant’” »
Kuala Lumpur: The international reserves of Bank Negara Malaysia (BNM) stood at US$ 109 billion as of June 30, 2022. In a statement today, the central bank said the reserves position is sufficient to finance 5.8 months of imports of goods and services and 1.1 times total short-term external debt. The main components of international … Read More “Bank Negara’s international reserves stand at US$100bil as of June 30” »
