Author: IA PressRoom

Earnings, schmearnings. Is what really matters just liquidity? This incredible chart, from Apollo Global Management chief economist Torsten Slok, shows the close relationship between S&P 500 SPX, -0.37% performance and net Federal Reserve quantitative easing (QE) since the pandemic began. Here, Fed QE is defined as the Fed’s total assets minus the balance of the Treasury General Account as well as the temporary cash added or drained through overnight reverse repos. “Since SVB collapsed, the Fed has been adding liquidity, and the S&P 500 is up more than 10%. The high correlation between Fed net QE and the S&P 500…

Aaron Tan (left), cofounder and CEO of Carro, and Jardine Cycle & Carriage’s managing director … [+] Wilfrid Foo.Jardine Cycle & Carriage/Carro Jardine Cycle & Carriage (JC&C), the investment arm of Hong Kong-based conglomerate Jardine Matheson, has teamed up with Singapore’s online automotive marketplace Carro in a deal worth more than $60 million to step up used car sales amid new vehicle shortages. The partnership, announced on Friday, will see JC&C pick up an undisclosed interest in Carro. Carro will in turn receive a stake of equivalent value in Republic Auto, a Singapore-headquartered second-hand car dealer controlled by JC&C. The…

© Reuters. French Minister for Economy, Finance, Industry and Digital Security Bruno Le Maire leaves following the weekly cabinet meeting at the Elysee Palace in Paris, France, June 7, 2023. REUTERS/Sarah Meyssonnier PARIS (Reuters) – A French government spending review has identified 10 billion euros in budget savings that will be targetted in the coming years, Finance Minister Bruno Le Maire said on Monday. Savings would come from public sector spending in the health sector, housing, various quasi-public bodies tasked with carrying out public policies and employment support measures. Meanwhile, the government would also gradually reduce over four years a…

© Reuters. A logo of Airbus is seen at the entrance of its factory in Blagnac near Toulouse, France, July 2, 2020. REUTERS/Benoit Tessier/File Photo DUBAI (Reuters) – Saudi defence company SCOPA Industries and Airbus have signed an agreement to jointly produce civil and military helicopters in the kingdom, SCOPA CEO Fawaz Alakeel told Saudi state TV on Monday. The deal was announced on the sidelines of a Saudi-French investment forum being held during a visit by Saudi Arabia’s Crown Prince Mohammed bin Salman to France that started last week. Alakeel said the first helicopters produced at joint SCOPA and…

© Reuters. Headframes at Chwalowice coal mine are seen at dawn in Rybnik, Poland October 21, 2022. REUTERS/Kuba Stezycki/File Photo By Kate Abnett LUXEMBOURG (Reuters) – A late proposal to extend subsidies for coal plants has upset European Union countries’ plans to on Monday approve a reform of the bloc’s power market, which was designed to shift the electricity system towards cleaner energy. EU countries’ energy ministers meet in Luxembourg on Monday to agree a joint stance on new EU power market rules, aimed at expanding low-carbon power and avoiding a repeat of last year’s energy crisis, when record-high gas…

The unit will be renamed Leerink Partners (its name before SVB’s acquisition). MoffettNathanson LLC, the company’s research business will remain part of SVB Financial Group, as it is not included in the transaction.The bidder group led by Leerink, who is chief executive of SVB Securities will acquire the business for cash, repayment of an inter-company note and a 5% equity instrument.”With the strong financial backing from The Baupost Group, the firm is extremely well positioned to continue to build on its leadership position in healthcare investment banking”, the company said in a statement.The move comes after management of SVB Securities…

LinkedIn is testing out an AI-generated chat feature that drafts messages about job opportunities. I tried out the new feature. The messages created a decent foundation but they were quite generic. But they repeatedly misstated how much journalism experience I’d had, too. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app LinkedIn is testing out a new AI-generated chat feature to help users message people about job opportunities. I tried it out, and though it saved some time, the messages were quite generic and listed…

© Reuters. People walk at the main shopping area in Shanghai, China, March 14, 2023. REUTERS/Aly Song/File photo SHANGHAI/SINGAPORE (Reuters) – China is widely expected to cut key lending benchmarks on Tuesday in the first such easing in 10 months, a Reuters survey showed, as authorities seek to shore up a slowing recovery in the world’s second-largest economy. Recent economic data showed the retail and factory sectors struggling to sustain the momentum seen in the first quarter, raising concerns China’s post-COVID comeback could ground to a halt this year and trigger massive job losses. The People’s Bank of China (PBOC)…

© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 15, 2023. REUTERS/Staff (Reuters) – European shares fell at the opening bell on Monday, with Franco-German lab equipment maker Sartorius leading the declines, while investors cautiously awaited further stimulus measures from China to revive demand. The pan-European index shed 0.5% by 0719 GMT, while index dropped 0.4% after closing at a record high in the prior session. Shares of Sartorius plunged 14%, to the bottom of the STOXX 600, after the company cut its 2023 revenue and margin forecasts on Friday.…

Pennant Group acquires Idaho-based Bluebird Home Health, Hospice and Home Care provider