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☆ Some low-performing bankers are getting $0 bonuses this year
▼ + stars: | 2024-02-09 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +2 min

Barclays plans to cut bonuses for underperforming investment bankers amid a capital markets slump. The plan could lead to more departures after pay cuts and restructuring shook the bank. Barclays' stock has lagged behind rivals, which some say is due to its bloated investment banking arm. Those departures were spurred by a shake-up in Barclays' investment banking arm, which included pay cuts as high as 40% for some managing directors. A similar crisis occurred in 2019 after the head of the investment banking unit stepped down unexpectedly.

Persons: —, Paul Compton, Goldman Sachs, J.P, Morgan Chase Organizations: Barclays, Service, Bloomberg, Business, Wall Street Journal, Tesco

☆ British Vogue features 40 ‘legendary’ cover stars for editor Edward Enninful’s final issue
▼ + stars: | 2024-02-09 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +4 min

CNN —For British Vogue’s final issue under Edward Enninful, the outgoing editor-in-chief put not one superstar on the cover, but 40 of them. Forty previous cover stars return for Enninful’s final issue. Steven Meisel“When it came to my last issue, I knew the cover would be dedicated to women. Ned RogersNaomi Campbell, who has now appeared on four British Vogue covers during Enninful's tenure. His other cover stars included 82-year-old Miriam Margolyes, who posed nude for last year’s Pride Month issue, and a then-85-year-old Dame Judi Dench.

Persons: Edward Enninful, Naomi Campbell, Cindy Crawford, Miley Cyrus, Linda Evangelista, Jane Fonda, Kate Moss, Serena Williams, Steven Meisel, Ned Rogers, Enninful, Steven Meisel “, ” Enninful, ”, shockwaves, Misan Harriman, Kennedi Carter, Ned Rogers Naomi Campbell, Ned Rogers Enninful, Fonda, Miriam Margolyes, Dame Judi Dench, Christy Turlington, CNN’s Christiane Amanpour, Anna Wintour’s, Condé Nast, Chioma Nnadi Organizations: CNN, Hollywood, Vogue, British Vogue Locations: Ghanaian, Dua Lipa, Manhattan, London, Paris, Milan, Los Angeles, British

☆ What King Charles’ diagnosis means for Prince William
▼ + stars: | 2024-02-08 | by ( Lauren Said-Moorhouse | Max Foster | ) edition.cnn.com time to read: +6 min

Editor’s Note: This is a version of CNN’s Royal News, a weekly dispatch bringing you the inside track on Britain’s royal family. It’s a particularly difficult moment for Prince William. Video Ad Feedback See Prince William's first public appearance since King Charles' cancer diagnosis 01:23 - Source: CNNThe demands of being the immediate heir saw William make a partial return to royal duties on Wednesday after a three-week absence. That will give William some flexibility as it means the prince appears not to be needed to pick up any constitutional business. The King’s diagnosis means William is now one of the most prominent faces of the clan - alongside Queen Camilla.

Persons: It’s, Prince William, Catherine, Princess, Wales, Charles, William, Queen Elizabeth II –, William's, King Charles, ”, “, ” William, I’d, Daniel Leal, Prince Harry, Prince, He’s, Queen Camilla, Arthur Edwards, it’s, ramped, Charles ’, Princess Anne, William’s Organizations: CNN’s Royal, London CNN, CNN, Windsor Castle, London Air Ambulance, Air Ambulance, Sandringham, Commonwealth, Westminster Abbey, BBC Locations: London, Windsor, Buckingham, Wales, Westminster

☆ Mo'Nique says Oprah Winfrey stole movie roles from her and demands a public apology amid their 15-year feud
▼ + stars: | 2024-02-08 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +4 min

Read previewComedian Mo'Nique rekindled her yearslong feud with Oprah Winfrey, accusing her of stealing movie roles and blindsiding the "Precious" actor by interviewing her estranged parents on her show. Oprah Winfrey." AdvertisementMo'Nique said Oprah Winfrey didn't ask her before interviewing her estranged parents on her showMo'Nique also addressed the drama regarding her family's appearance on "The Oprah Winfrey Show" in 2010. In 2023, Mo'Nique told The Hollywood Reporter that Winfrey told her that her brother would be on the show, not her estranged parents also, and avoided Mo'Nique's calls after the interview aired. "I shared with Oprah Winfrey what we were going through and how I felt," she added.

Persons: —, Mo'Nique, Oprah Winfrey, Winfrey, Tyler Perry, Lee Daniels, Perry, Daniels, Oscar, Shay Shay, Shannon Sharpe, Monique, The Butler, Oprah, Butler, Richard Pryor, You've, you've, I'm, Mo'Nique's, Films Mo'Nique, Barbara Walters, Walters Organizations: Service, Business, Hollywood, Films Locations: Hollywood

WASHINGTON (AP) — From Wall Street traders to car dealers to home buyers, Americans are eager for the Federal Reserve to start cutting interest rates and lightening the heavy burden on borrowers. Why, with inflation nearly conquered and interest rates at a 22-year high, isn't now the time to cut? High rates could also compound the struggles of banks that are saddled with bad commercial real estate loans, which would be harder to refinance at higher rates. “We need the government to address the interest rates ... and understand that they’ve accomplished their goal of lowering inflation," Kelleher said. If so, that might not just delay the Fed's rate cuts, but result in fewer of them.

Persons: isn't, ”, Steven Blitz, “ They’re, ” Loretta Mester, Mester, “, David Kelleher's Chrysler, Kelleher, ” Kelleher, Powell, ” Powell, we’re, Andrea Kugler, Eric Swanson Organizations: WASHINGTON, Federal Reserve, GlobalData, Lombard, Federal Reserve Bank of Cleveland, Jeep, Fed, University of California Locations: Wall, Philadelphia, Irvine

☆ Budget office projects Biden green energy plan will cost much more than initial estimate
▼ + stars: | 2024-02-07 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

WASHINGTON — The U.S. budget deficit will grow by an estimated $1 trillion over the next 10 years, the nonpartisan Congressional Budget Office projected in a new report Wednesday. "I came to office determined to ... face the existential threat of climate and still grow, to fundamentally change our economy, and to transition this country to a clean energy future," Biden said last October. Taken together, CBO estimates that the impact of new emissions standards, clean energy tax credits and falling gas tax revenue as people buy less gas, will add $25 billion to the budget deficit this year. "Those costs reflect new emissions standards, market developments, and actions taken by the administration to implement the tax provisions." The CBO also noted that there are still many unknowns about how green energy will impact the economy and the federal budget longer term.

Persons: WASHINGTON, Joe Biden's, Biden, Philip Swagel, EPA's Organizations: CBO, Environmental Protection Agency Locations: The, U.S

☆ I'm a student at Cornell. From the teaching farm to the student-run hotel, here's what a day is like on campus.
▼ + stars: | 2024-02-07 | by ( Aurora Weirens | ) www.businessinsider.com time to read: +1 min

I'm a student at Cornell University studying government, but one afternoon on campus was unique. I started my day at the on-campus farm, meeting the sheep, pigs, and cows. AdvertisementAs a government major at Cornell, I hadn't expected agricultural enrichment to be part of my college experience. However, my love of plants and animals consistently leads me back to the Cornell barns and fields — despite having no immediate relevance to my degree. As my friend was an animal-science major and researcher who worked there, she lifted the latch and led us inside, starting my unique day as a Cornell student.

Persons: I'm, —, Cornell Organizations: Cornell University, Service, Cornell

“I was embarrassed for our conference, for our party, because we can do better than we did last night,” said GOP Rep. Lance Gooden of Texas. It was a huge mistake,” said GOP Rep. Patrick McHenry of North Carolina, an ally to former Speaker Kevin McCarthy. And the stunning defeat, which prompted a chaotic scene on the House floor, completely overshadowed the Democratic opposition to the Israel bill. “The Democrats played hide and seek with us,” GOP Rep. Carlos Gimenez of Florida told CNN. We’ll put it back up.”For their part, Democrats took a victory lap in their maneuvering that led to a nail-biter vote and embarrassment for House Republicans.

Persons: Alejandro Mayorkas, Troy Nehls, “, we’re, ”, Lance Gooden, GOP Sen, Lisa Murkowski, I’ve, I’m, Nancy Pelosi, George Santos, Pelosi, Ralph Norman of, Patrick McHenry of, Kevin McCarthy, Mike Johnson, “ He’s, Jen Kiggans, Johnson, speakership, ” Johnson, Donald Trump, Mitch McConnell’s, James Lankford of, Kevin Dietsch, Mayorkas, Mike Gallagher of, impeaching Mayorkas, ” Gallagher, Hugh Hewitt, Dan Bishop of, Steve Womack, ” Womack, Mitch McConnell, Chip Somodevilla, they’re, ’, Steve Scalise, Tom Cole of, Al Green of, Carlos Gimenez, “ It’s, Scalise, We’ll, ” Pelosi, ” CNN’s Haley Talbot, Lauren Fox, Sam Fossum Organizations: Homeland, GOP, CNN, Texas, Republican, ”, Republicans, House Democrats, GOP Rep, Caucus, Congress, Navy, Capitol, Getty, Democratic, Democrat, Arkansas Republican, House Republicans Locations: “, Texas, Israel, Alaska, Ralph Norman of South Carolina, Patrick McHenry of North Carolina, Virginia, James Lankford of Oklahoma, Washington , DC, Mike Gallagher of Wisconsin, Dan Bishop of North Carolina, Arkansas, ”, Washington ,, Tom Cole of Oklahoma, Al Green of Texas, Florida

☆ Alibaba shares jump 4% in premarket trade after it hikes share buyback program by $25 billion
▼ + stars: | 2024-02-07 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Shares of Alibaba jumped in premarket trade, as the company missed market expectations for revenue in the December quarter, but announced it is increasing the size of its share buyback program by $25 billion. U.S.-listed shares in the Chinese e-commerce giant were more than 4% higher in pre-market trade. Here's how Alibaba did in its fiscal third quarter, compared to LSEG estimates:Revenue: 260.35 billion Chinese yuan ($36.6 billion) versus 262.07 billion yuan expected. On top of its structural changes, Alibaba also scrapped the hotly-anticipated spinoff of its cloud computing business last year. More recently, two of Alibaba's co-founders, Jack Ma and Joe Tsai, in January bought shares worth around $200 million in the Chinese e-commerce giant.

Persons: Alibaba, Pinduoduo, Eddie Wu, Daniel Zhang, Alibaba's, Jack Ma, Joe Tsai, Evelyn Cheng Organizations: Revenue, Alibaba Locations: Suqian City, Jiangsu Province, China, premarket, U.S, Beijing

☆ Dollar on defensive after pullback from nearly 3-month peak
▼ + stars: | 2024-02-07 | by ( ) www.cnbc.com time to read: +2 min

The dollar remained under pressure on Wednesday after retreating from a nearly three-month high against the euro in the previous session with a decline in U.S. bond yields adding to the drag. The dollar remained under pressure on Wednesday after retreating from a nearly three-month high against the euro in the previous session with a decline in U.S. bond yields adding to the drag. U.S. Treasury yields also turned down from highs overnight on solid demand at a sale of new three-year notes, removing some support for the dollar. The U.S. dollar index , which measures the currency against six major peers, including the euro, was flat at 104.14, following Tuesday's 0.29% slide. The currency pair tends to be extremely sensitive to moves in Treasury yields.

Persons: Jerome Powell scuppered, Matt Simpson, James Kniveton Organizations: Federal, Treasury, U.S, CPI, Federal Reserve Locations: U.S, Asia

☆ The No. 1 mistake to avoid in a job interview—it gives hiring managers 'the biggest ick,' says new research
▼ + stars: | 2024-02-05 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

Now, that 15-minute window has shrunk to five minutes, both for in-person and phone or video interviews, Hyman says. Don't panic if you're late to a job interview — Hyman says you can still recover and win over the person you're speaking to with a quick, genuine apology. But you don't need to launch into a lengthy explanation about why you were late either, Hyman adds. Instead, he recommends a brief, sincere apology along the lines of: "I'm really sorry I'm late, something came up, but I value your time and I'm very interested in this opportunity. 7 job interview phrases you should never use—what to say instead

Persons: Jeff Hyman, Hyman, — Hyman, I've Organizations: CNBC, Google, Microsoft Locations: Ringover

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Mattel, Amazon, Tesla, Charter, Cigna, Tapestry & more
▼ + stars: | 2024-02-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Monday's biggest calls on Wall Street: Goldman Sachs reiterates Nvidia as buy Goldman raised its price target on the stock to $800 per share from $625. "So, since our price target is > $135, we must necessarily believe that Tesla's OTHER businesses will emerge to drive upside. JPMorgan downgrades Mattel to neutral from overweight JPMorgan said in its downgrade of Mattel that the Barbie boost was short-lived for the toy company. JPMorgan reiterates Amazon as overweight JPMorgan said it's standing by top idea Amazon. " JPMorgan reiterates PayPal as overweight JPMorgan said it's standing by PayPal heading into earnings later this week.

Persons: Goldman Sachs, Goldman, Cantor Fitzgerald, Cantor, it's, Piper Sandler, Tesla, Piper, Riley downgrades, Redburn, TD Cowen, Smith Douglas, it's bullish, JPMorgan downgrades, Barbie, Evercore, …, Moffett, Guggenheim, Davidson downgrades Clorox, cyberattack Organizations: Nvidia, Bank of America, Apple, Apple's, Vision, Tesla Energy, Cedar Fair, SIX, Citi, JPMorgan downgrades, JPMorgan, Broadband, Companies, Smith, Smith Douglas Homes, JPMorgan downgrades Mattel, Mattel, Guggenheim, Inc, DA, PayPal Locations: United States

Elsewhere, Goldman Sachs reiterated a buy rating on Nvidia and raised its price target on the high-flying semiconductor maker. Yet his price target sits at $225, implying an upside of 19.7% as he sees opportunity elsewhere. "Anyone pulling up a chart of UBER share price performance in 2023 will think, 'That's a scary chart. Analyst Sarah James upgraded the insurer to overweight from neutral and hiked her price target o $372 from $334. — Alex Harring 5:42 a.m.: Goldman hikes Nvidia price target Things continue to look up for Nvidia , according to Goldman Sachs.

Persons: Goldman Sachs, Piper Sandler, Alexander Potter, Potter, Tesla, Alex Harring, Bernstein, Uber, Nikhil Devnani, Devnani, — Alex Harring, Keith Horowitz, Horowitz, Cantor Fitzgerald Cigna, Cantor Fitzgerald, Sarah James, James, Ben Hendrix, Hendrix, Christopher Horvers, Horvers, Barbie, Goldman, FY4Q, Toshiya Hari, Fred Imbert Organizations: CNBC, JPMorgan, Mattel, Nvidia, Citi, Investors, Citizens, Financial, New York Community Bancorp, Aozora, T Bank, RBC Capital, Warner Bros, Golden Globes, Microsoft Locations: California, New, Friday's

The Fed chair also reiterated that the central bank's next meeting in March was likely too soon for a rate cut. Most economists think the first cut is likely to come in May or June. As gauged by the Fed’s preferred measure, inflation fell to just 2.6% in December compared with 12 months earlier. At the same time, Powell acknowledged in the interview, the Fed misjudged the duration of the resulting inflation, which it repeatedly suggested would prove short-lived. “We’ve got six months of good inflation data and an expectation that there’s more to come,” Powell said Wednesday.

Persons: —, Jerome Powell, Powell, ”, “, COVID, would’ve, ” Powell, “ It’s, we’ve, “ We’ve, Michelle Bowman Organizations: WASHINGTON, Federal, CBS, Fed, year's, Fed’s, of Governors Locations: U.S

☆ Job Market Starts 2024 With a Bang
▼ + stars: | 2024-02-02 | by ( Lydia Depillis | ) www.nytimes.com time to read: 1 min

The United States produced an unexpectedly sizable batch of jobs last month, a boon for American workers that shows the labor market retains remarkable strength after three years of expansion. Employers added 353,000 jobs in January on a seasonally adjusted basis, the Labor Department reported on Friday, and the unemployment rate remained at 3.7 percent. The report also put an even shinier gloss on job growth for 2023, including revisions that added more than 100,000 to the figure previously tallied for December. All told, employers added 3.1 million jobs last year, more than the 2.7 million initially reported. After the loss of 14 percent of the nation’s jobs early in the Covid-19 pandemic, the labor market’s endurance despite aggressive interest rate increases has caught economists off guard.

Organizations: Employers, Labor Department Locations: States

☆ Bank of England chief hints the market could be getting it right on rate cuts
▼ + stars: | 2024-02-01 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — Bank of England Governor Andrew Bailey on Thursday signaled that financial markets may be correct in their expectations for the future path of rate cuts. Speaking to CNBC, Bailey said he was "not going to commit" to a specific timeline for rate cuts, but added that he did not object to the market consensus. "I'm not going to give a view on how many cuts there'll be and when they will be. But I think that view that the market is taking is not one I object to," he told CNBC's Steve Sedgwick. Investors priced in four rate cuts by the end of this year after the central bank voted to hold interest rates steady at 5.25% earlier Thursday.

Persons: Andrew Bailey, BOE, Bailey, I'm, CNBC's Steve Sedgwick Organizations: Bank of England, City of, LONDON — Bank of England, CNBC, Monetary Locations: City, City of London

LONDON (AP) — The Bank of England is expected to keep its main interest rate at near 16-year highs Thursday and indicate that lower borrowing costs are not imminent because inflation is stuck too high for comfort. In December, inflation in Britain unexpectedly rose to 4%, an increase that tempered market expectations that the central bank would cut borrowing costs as soon as May. On Wednesday, the Fed held rates steady but surprised financial markets with its cautious statement that it “does not expect it will be appropriate” to cut rates. Higher interest rates — which cool the economy by making it more expensive to borrow, thereby bearing down on spending — have contributed to bringing down inflation worldwide. That's despite mortgage lenders reducing their lending rates on the assumption that the bank's main rate has peaked.

Organizations: —, Bank of England, U.S . Federal Reserve, Fed, of England, Conservative Party, Labour Party Locations: U.K, Britain, Ukraine, United States

Under cover of darkness a year ago Friday, someone breached a waist-high fence and slipped into the Central Park Zoo. The break-in happened steps from the shared headquarters of the New York City Parks Department and the Central Park Zoo, in the vicinity of at least one surveillance camera. Since the zoo suspended efforts to re-capture Flaco in February 2023, there has been no public information about the crime. In 2021, another beloved Central Park owl, Barry, was fatally struck by a truck after ingesting a lethal dose of rat poison that may have impaired her flying. He’s also lucky.”Flaco spent his initial months of freedom mostly in Central Park, which is loaded with wildlife, but has lately preferred more urban sections of Manhattan.

Persons: Flaco, hadn't, ”, Jacqueline Emery, “, Max Pulsinelli, Nicole Barrantes, Jerry Vlasak, we’re, Barry, Suzanne Shoemaker, “ He’s, He’s, ” Flaco, David Barrett, Barrett, “ It’s, “ We’re Organizations: Central, Zoo, Fifth, New York City Parks Department, Central Park Zoo, Parks Department, North American Animal Liberation Press Office, Wildlife Conservation Society, Manhattan Locations: York, Maryland, Central Park, Manhattan, North America

“This experimental graphic will help better convey wind hazard risk inland in addition to coastal wind hazards,” the center said in the post. Heavy rains and strong winds can be deadly and cause significant damage inland, which happened in 2022 with Hurricane Ian, when 149 people died in Florida. The goal of the expanded forecast cone is to make sure people who don't live along a coast are aware of the dangers they could still face, said Jamie Rhome, deputy director of the hurricane center. Ian produced between 10 and 20 inches (51 centimeters) of rain across much of central Florida, the hurricane center reported. Only Hurricane Idalia struck the U.S., coming ashore in the lightly-populated Big Bend region of Florida's Gulf Coast but also causing significant inland flooding.

Persons: Hurricane Ian, Jamie Rhome, ” Rhome, Ian, Ian slogged, Chad Jorgensen, Alberto, Idalia Organizations: National Hurricane Center, Hurricane, Fire, National Oceanic, Atmospheric Administration Locations: PETERSBURG, Fla, The Miami, Florida, Fort Myers, Orlando, Kissimmee, Daytona Beach, Florida’s, DeSoto County, U.S, Florida's Gulf

Morgan Stanley raised its price target on General Motors. 6:56 a.m.: Morgan Stanley calls Bloom Energy a 'secular winner' Morgan Stanley reiterated its overweight rating on Bloom Energy , naming it an underappreciated AI beneficiary. The firm also maintained its $22 price target on shares, which suggests shares surging more than 94% from where they closed on Wednesday. — Hakyung Kim 6:14 a.m.: Morgan Stanley steps to the sidelines on ZoomInfo ZoomInfo Technologies is "unlikely to zoom into a recovery," according to Morgan Stanley. — Hakyung Kim 5:40 a.m.: Morgan Stanley raises GM price target A focus shift back to internal combustion engine vehicles can give General Motors another jolt higher, according to Morgan Stanley.

Persons: Morgan Stanley, Andrew Percoco, — Hakyung Kim, Antonio Reale, Reale, Hakyung Kim, Elizabeth Porter, Porter, Richard Choe, Choe, Jefferies, NYCB, Jon Arfstrom, Arfstrom, Christopher Danely, Danely, Bank of America's Tal Liani, Liani, Samik Chatterjee, Chatterjee, Adam Jonas, Jonas, — Fred Imbert Organizations: CNBC, General Motors, Qualcomm, Citi, Bloom, Bloom Energy, Bank of America, Santander Santander, Santander, ZoomInfo, JPMorgan, T, RBC, New York, Bancorp New, Bancorp New York Community, Bank, NYCB, Citi Citi, chipmaker Qualcomm, Samsung, Bank of America's, GM Locations: Spanish, Spain, Santander, Europe, U.S, Wednesday's, Bancorp New York

☆ Bank of England leaves policy unchanged, says interest rates are 'under review'
▼ + stars: | 2024-02-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — The Bank of England held interest rates steady at 5.25% on Thursday. The Monetary Policy Committee voted 6-3 in favor of holding rates. "The MPC remains prepared to adjust monetary policy as warranted by economic data to return inflation to the 2% target sustainably," the Bank said in statement. Much of the market focus of late has been on when the central bank will start cutting interest rates from their current 15-year high. However, it has remained on a general downward trajectory, while the Bank's key indicators of the labor market, wage growth and services inflation have all shown signs of easing.

Persons: BOE Organizations: Bank of England, City of, LONDON, Monetary, Bank Locations: City, City of London

☆ BofA says NY Community Bancorp plunge isn't indicative 'of wider problem'
▼ + stars: | 2024-02-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

NYCB took over the failed Signature Bank during the regional bank crisis in 2023. BofA noted that the fourth-quarter results for the big six U.S. banks as well as other large regional banks were "constructive on credit quality." NYCB 5D mountain New York Community Bancorp Secondly, Bank of America said larger banks have strong capital buffers against credit losses. Category IV refers to banking standards for U.S. banks with total assets of $100 billion or more. Jefferies also cited an "unexpectedly faster regulatory mandate" to Category IV bank compliance for NYCB.

Persons: NYCB, BofA, Jon Arfstrom, Jefferies, — CNBC's Michael Bloom Organizations: of America, New York Community Bancorp, Bank, Bank of America, York, Bancorp, Fed, RBC, Equity, NYCB, Jefferies Locations: NYCB

☆ Want to cash in on the weight-loss drug boom? Morgan Stanley names 4 global stocks
▼ + stars: | 2024-02-01 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

Under-the-radar stock picks Morgan Stanley reckons the way to play the obesity theme in Asia is through names involved in GLP-1 drug development that "could find upside in burgeoning overseas markets." Calling it "top beneficiary as global demand for GLP-1 drugs significantly outpaces capacity," Morgan Stanley has an overweight rating on the stock. Morgan Stanley has an investment horizon of just over six months for WuXi AppTec and Innovent and over 12 months for Chugai and EBOS. Morgan Stanley's analysts estimate that worldwide sales of Orforglipron could hit $7 billion in 2023. Elsewhere, it sees opportunities for EBOS following the Australian government's approval for it to distribute obesity drugs.

Persons: Eli Lilly, Morgan, Sean Wu, Morgan Stanley's, Health Organization's, Morgan Stanley, Chugai, Goldman, EBOS, CNBC's Michael Bloom Organizations: Novo Nordisk, Health, WHO, BMI, WuXi AppTec, Australian, Hong Kong Stock Exchange, China Health Care, Goldman Sachs, Health Care Equity, Zealand ETF Locations: U.S, Asia, Asia Pacific, Australia, GLP, WuXi, China, Japan, New Zealand, Zealand

☆ Bank of England could be about to open the door to interest rate cuts
▼ + stars: | 2024-01-31 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

People walk outside the Bank of England in the City of London financial district, in London, Britain, January 26, 2023. Henry Nicholls | ReutersLONDON — The Bank of England is widely expected to hold interest rates steady at 5.25% on Thursday, but market observers will be closely watching voting patterns, projections and language for hints about future rate cuts. The labor market has shown signs of rebalancing, although the overall trajectory remains somewhat uncertain, while wage growth and services inflation have surprised the Bank's November projections substantially to the downside, Goldman Sachs economists noted on Sunday. "We expect the MPC to retain its data-dependent approach and reiterate that monetary policy 'will need to be sufficiently restrictive for sufficiently long'," Quadri said. Goldman sees a first 25 basis point cut in May, followed by further quarter-point increments at every meeting until the Bank rate reaches 3% in May 2025.watch now

Persons: Henry Nicholls, Goldman Sachs, Ibrahim Quadri, Swati, Catherine, Mann, Quadri, Goldman Organizations: Bank of England, Reuters LONDON, Monetary, MPC, Goldman Locations: City, London, Britain, British, U.K

LONDON (AP) — H&M's top executive unexpectedly stepped down Wednesday and the company's stock plunged as the fashion giant reported a drop in sales over the holiday shopping season. Political Cartoons View All 253 ImagesFor the last three months of 2023, operating profit margin fell to 7.2% from 7.8% in the previous three months. The company says its “ambition” is still operating margin of 10% this year. Sales also dropped 4% from Dec. 1 to Jan. 29 — a key holiday shopping period — compared with a year earlier. H&M is facing increasing competition from Chinese low-cost fast fashion retailer Shein as well as other fashion giants like Zara.

Persons: —, Helena Helmersson, Daniel Ervér, ” Ervér, ” Locations: Swedish, Zara

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