Pernod Ricard SA will begin a share buyback worth up to 300 million euros ($320.9 million) Monday, part of a EUR750 million program for the fiscal year. The French distiller RI, +0.26% will buy back the share over a period extending to April 6 at the latest. The price paid per share will be a … Read more
What’s the best metaphor to describe the stock market, that has sent the S&P 500 up 16% from its October lows, and up 6% this year? Morgan Stanley strategist Mike Wilson has turned to the Jon Krakauer best-seller “Into Thin Air,” which chronicles the death of 12 mountaineers trying to scale Mount Everest. The book … Read more
China’s benchmark lending rates were kept unchanged, the country’s central bank said Monday, as the world’s second-largest economy showed more signs of recovery from its COVID reopening. The one-year loan price rate remained unchanged at 3.65% and the five-year LPR was steady at 4.3%, said the People’s Bank of China. The unchanged LPR was widely … Read more
By Bingyan Wang Shares of China telecommunication majors were higher in morning trade following a report that China Telecom Corp. is developing an artificial intelligence-powered chatbot, reflecting investor enthusiasm about the technology, which became popular with OpenAI’s ChatGPT, spreading to China. China Telecom shares rose by the daily limit of 10% in Shanghai, while its … Read more
Lenovo Group Ltd. shares 992, +4.72% jumped in early trade on Monday, as investors shrugged off the latest drop in the Chinese technology giant’s quarterly profit and looked forward to an expected rebound later in the year. The stock has gained as much as 7.2% and was last up 5.3% at 7.14 Hong Kong dollars … Read more
United Nations atomic agency inspectors have detected uranium that has been enriched to near weapons-grade in Iran in recent weeks, three senior diplomats said Sunday, a finding that will deepen concerns about Tehran’s nuclear ambitions. Iran has been producing highly enriched, weapons-grade material of 60% purity since early 2021, but the material found was of 84% purity, according … Read more
Troubled discount home-goods retailer Tuesday Morning Corp. will close more than half its locations nationwide after filing for Chapter 11 bankruptcy protection for the second time in three years. The company filed for bankruptcy on Feb. 14, with Chief Executive Andrew Berger citing “exceedingly burdensome debt.” The company said it has secured a $51.5 million … Read more
Since Elon Musk took over, Twitter Inc. has faced a growing list of claims that it hasn’t paid its bills as the social-media company aims to break even this year. Landlords, consultants and vendors in recent months have made demands for payments in at least nine lawsuits, with their complaints totaling more than $14 million plus interest. Among those alleging past-due … Read more
Many of the people in the U.S. who pay hundreds of dollars every few months to get Botox plan to keep spending money on cosmetic injections despite the economic downturn. Botox’s not exactly recession-proof. AbbVie ABBV, +1.19%, which sells Botox and Juvederm fillers, said demand softened over the last six months of 2022, even while … Read more
Cash is king!? When a $6 dollar plastic crown can fetch almost $600,000 at auction, it’s safe to say the value has been inflated. The harder question for investors nearly a year into the Federal Reserve’s inflation fight is whether buying the dip in stocks is wise, or earning a cool 5% yield on safe-haven … Read more