A sign stands outside an upscale home for sale in the Lake Pointe Subdivision of Austin, Texas. Ed Lallo | Bloomberg | Getty Images Home prices in November fell 0.2% from October, according to the S&P CoreLogic Case-Shiller national home price index. While that may not seem like a lot, […]
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Pfizer beats earnings estimates as declining Covid business loses less revenue than expected
Pfizer on Tuesday posted a surprise adjusted fourth-quarter profit, as the company’s declining Covid business performed better than expected. The company reversed roughly $3.5 billion in revenue related to the expected return of 6.5 million doses of its Covid drug, Paxlovid, from the U.S. government. That hit is less than the […]
IMF upgrades global growth forecast, citing U.S. resilience and policy support in China
Buildings in Pudong’s Lujiazui Financial District in Shanghai, China, on Monday, Jan. 29, 2024. Bloomberg | Bloomberg | Getty Images The International Monetary Fund on Tuesday nudged its global growth forecast higher, citing the unexpected strength of the U.S. economy and fiscal support measures in China. It now sees global […]
Fahmi Quadir, short seller nicknamed ‘The Assassin,’ takes aim at for-profit college giant Adtalem
Fahmi Quadir, chief investment officer and founder of Safkhet Captial LP, speaks during the Context Leadership Summit in Las Vegas, Nevada, U.S., on Wednesday, May 9, 2018. Bridget Bennett | Bloomberg | Getty Images WASHINGTON — Short seller Fahmi Quadir has found her new target: The $2 billion market cap […]
GM beats Wall Street estimates, forecasts continued strong profit in 2024
A GMC pickup truck is displayed for sale on a lot at a General Motors dealership in Austin, Texas, on Jan. 5, 2023. Brandon Bell | Getty Images DETROIT — General Motors beat Wall Street’s top- and bottom-line expectations for the fourth quarter, while forecasting another strong year despite potential […]
World’s largest sovereign wealth fund posts record $213 billion profit, boosted by tech stocks
The Norges Bank, Norway’s central bank, in Oslo, Norway, on Tuesday, Oct. 17, 2023. Bloomberg | Bloomberg | Getty Images Norway’s giant sovereign wealth fund on Tuesday reported record profit of 2.22 trillion kroner ($213 billion) in 2023, supported by robust returns on its investments in technology stocks. The so-called […]
Former Pakistan Prime Minister Imran Khan gets 10-year jail term
Pakistan’s former Prime Minister Imran Khan, gestures as he speaks to the members of the media at his residence in Lahore, Pakistan May 18, 2023. Mohsin Raza | Reuters Former Prime Minister of Pakistan Imran Khan has been sentenced to 10 years in jail on charges of leaking state secrets, […]
Saudi Arabia’s Aramco halts plans to increase maximum oil production capacity
Valvoline had last year decided to separate its retail services and global products divisions following a strategic review. Rafael Henrique/SOPA Images/LightRocket via Getty Images Saudi Arabia’s state-controlled Aramco on Tuesday announced it is pausing plans to raise its crude production capacity from 12 million barrels per day to 13 million […]
India set to be world’s third largest economy by 2027, finance ministry says
A pedestrian speaks on a mobile phone as he watches a digital screen relaying the budget speech by Indian Finance Minister Nirmala Sitharaman on the facade of the Bombay Stock Exchange (BSE) in Mumbai on February 1, 2021. PUNIT PARANJPE | AFP via Getty Images India could become the world’s […]
Boeing’s reputation takes a hit after 737 Max 9 fallout, survey shows
Boeing’s reputation has taken a significant hit this month, according to surveys conducted by Morning Consult. A report by the market research company shows net trust dropped 12 percentage points among U.S. adults from December 2023 to January 2024. Net trust represents the share of people who say they trust […]