Author: IA PressRoom

House Democrats this week dismissed allegations President Biden improperly accepted money from a Ukrainian company during the Obama administration, but defended his administration for charging his likely 2024 rival, former President Donald Trump, with crimes.”I’ve seen a lot of allegations against President Biden by MAGA Republicans, but the truth is they’ve amounted to nothing. … I don’t think they have a lot of credibility. But, look, they can knock themselves out,” Rep. Eric Swalwell, D-Calif., said when asked about whether there should be an investigation into the Biden allegations.”All I want them to do is pay America’s bills, fund the…

M&C Saatchi shares fell by almost a fifth on Wednesday after it warned that revenues would be lower in 2023 because of a tough start to the year for its advertising and media operations.The UK-based advertising group said it now expected a “small decline in like-for-like net revenue” for the full year.The announcement shows the extent of the challenges for incoming chair Zillah Byng-Thorne, the former boss of magazine group Future, who will start at M&C Saatchi this week. In April, M&C said that “for the first time, in a long time, we have a clear runway ahead of us”.Analysts…

© Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 5, 2023. REUTERS/Brendan McDermid (Reuters) – and Nasdaq futures edged up on Wednesday as investors overwhelmingly expect the Federal Reserve to not raise interest rates as it concludes its meet later in the day. The Fed is expected to leave interest rates unchanged at the 5%-5.25% range, for the first time since it kicked off a historically aggressive round of monetary policy tightening in March of 2022. The decision is due at 2:00 p.m ET. Investors will also…

© Reuters. FILE PHOTO: A 3D-printed oil pump jack is seen in front of displayed stock graph in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration By David French (Reuters) – One of SilverBow Resources (NYSE:) Inc’s largest shareholders called on the U.S. oil and gas producer on Wednesday to drop its anti-takeover defenses and explore a sale, according to a letter reviewed by Reuters. Hedge fund Riposte Capital wrote in the letter that Houston-based SilverBow’s valuation was weighed down by adoption of a so-called poison pill to defend itself from a hostile bid through dilution. “The current strategy determined…

© Reuters. FILE PHOTO: Chinese 100 yuan banknotes are seen on a counter of a branch of a commercial bank in Beijing, China, March 30, 2016. REUTERS/Kim Kyung-Hoon/File Photo By Winni Zhou, Tom Westbrook and Brenda Goh SHANGHAI/SINGAPORE (Reuters) – Bond markets are putting Chinese and global rates on opposite paths, speculating on cuts in China against hikes in the U.S. and prompting banks and Chinese companies to prepare for a weaker currency as Beijing rolls out more stimulus. The yuan fell past the closely-watched seven-per-dollar level last month and hasn’t stopped, as China’s post-pandemic economic recovery falters amid weak…

Seniors are finally catching up on surgery for problems with their knees and hips they delayed during the pandemic — and that means higher costs for health insurers. The trend was revealed by executives at UnitedHealth UNH at a Goldman Sachs investor conference held on Tuesday. The revelation dented UnitedHealth shares by 4% in premarket trade, and other rivals including Humana HUM as well. Cigna CI shares fell 2%. “We’re…

Entering 2023, the relentless drumbeat of Wall Street consensuswas pounding out one consistent rhythm: China is back. After years of lockdowns and suppressed output, economists and investors cheered the end of Beijing’s zero-COVID policy and the economic boom that was sure to follow. The colossus-in-waiting that is the Chinese consumer was about to roam freely, analysts said. This was great news for the whole world — everyone would benefit from the globe’s second-largest economy getting healthy.But six months into the year, Wall Street’s dreams for the country are turning into a nightmare.Far from an economic explosion, China’s recovery from COVID…

Now that former President Donald J. Trump has entered a plea of not guilty at his arraignment in Miami, the criminal case against him will, barring an unforeseen event, settle into a traditional trajectory.The case against Mr. Trump, accusing him of illegally retaining national defense documents and obstructing the government’s efforts to retrieve them, is the first time that federal charges have been filed against a former president. But the case’s passage through the legal system should, with any luck, proceed like other criminal matters, if against the backdrop of the political calendar.The only date set so far for a…

© Reuters. FILE PHOTO: A woman uses a trolley as she shops at a grocery store in East London, in the Eastern Cape province, South Africa, July 7, 2022. REUTERS/Siphiwe Sibeko JOHANNESBURG (Reuters) – South African business confidence fell slightly in May, with lower trade volumes, fewer tourists and a weaker rand exchange rate weighing on sentiment, data showed on Wednesday. The South African Chamber of Commerce and Industry (SACCI) business confidence index dropped to 106.9 in May from 107.1 in April. SACCI said in a statement that it was essential to put South Africa back on a trajectory towards…

© Reuters. Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Oracle, Devon Energy, SurModics, and Estee Lauder.InvestingPro subscribers got this news before anyone else. Start your 7-day trial to get on board.Oracle earns two more upgrades Oracle (NYSE:) earned two upgrades yesterday after reporting and forecasting better-than-expected revenue growth for Q1, as InvestingPro reported in real time.Goldman Sachs upgraded the company to Neutral from Sell with a price target of $120.00, noting that the earnings and guidance alleviated concerns key to its Sell thesis which centered primarily on mounting CapEx…