Recent News
MSCI Seeks Feedback On Adani Group Over Hindenburg Report
by GalaxyNews | January 28, 2023 | Economy | 0 Comments
Index provider MSCI said on Saturday it was seeking feedback on Adani Group and associated securities and was aware of a report issued by short-seller Hindenburg Research. Seven listed companies of the Adani conglomerate - controlled by one of the world's richest men...
Fashion Retailer H&M’s Profit Tumbles As Costs Bite
by GalaxyNews | January 27, 2023 | Financial Market | 0 Comments
Sweden's H&M reported on Friday a much larger than expected drop in September-November profit, hit by weak consumer confidence and soaring costs that it did not fully pass on to price tags, sending its shares down 7% in early trade. Operating profit in the period,...
Asian Stocks Rise Tracking Positive U.S. GDP, Adani Extends Losses
by GalaxyNews | January 27, 2023 | Economy | 0 Comments
Most Asian stock markets rose on Friday as appetite for risk-driven assets was supported by better-than-expected U.S. economic growth data, while Indian stocks extended their descent as heavyweight Adani remained under pressure from a short seller report. Overnight...
Oil Treads Water Ahead of OPEC+ Panel Meeting, PCE Inflation Data
by GalaxyNews | January 27, 2023 | Financial Market | 0 Comments
Oil prices moved little on Friday and were set to end the week flat amid caution over an upcoming OPEC+ panel meeting, as well as more cues on the U.S. economy from a reading on the Federal Reserve’s preferred inflation gauge. Ministers from Algeria, Kuwait,...
Flavour Maker Givaudan Beats Earnings Forecasts in a Tough Year
by GalaxyNews | January 25, 2023 | Financial Market | 0 Comments
Swiss fragrance and flavour maker Givaudan on Wednesday reported better-than-expected earnings for a year characterized by high input costs and supply chain disruptions. The group, which so far has successfully passed steep input cost increases on to customers,...
Oil Rises After Steep Losses, But Recession Fears Limit Gains
by GalaxyNews | January 25, 2023 | Financial Market | 0 Comments
Oil prices rose on Wednesday, recovering a measure of sharp losses from the prior session, although fears of a global recession and signs of another major build in U.S. inventories kept gains limited. Crude prices have fallen into a holding pattern over the past...
Saga Rises After Confirming Talks to Sell Insurance Business
by GalaxyNews | January 23, 2023 | Financial Market | 0 Comments
Shares in Saga (LON:SAGA) rose on Monday after the company confirmed on a weekend report saying it's in talks to sell its insurance business Acromas. The Sunday Times had reported that the group wants to use the proceeds from the sale to pay down debt, after a year in...
Indian Stocks Rise On Strong Bank Earnings, Asian Markets Advance
by GalaxyNews | January 23, 2023 | Financial Market | 0 Comments
Indian stocks rose on Monday following a series of strong earnings from heavyweight bank stocks, while broader Asian stocks rose slightly, although market holidays dulled trading volumes across most of the region. India’s BSE Sensex 30 and Nifty 50 indexes rose 0.7%...
Asia FX Rises in Holiday Trade as China Recovery Bets Grow
by GalaxyNews | January 23, 2023 | Financial Market | 0 Comments
Most Asian currencies strengthened in thin trade on Monday, while the dollar weakened further amid growing bets that the Chinese economy will bounce back this year, with focus also turning to key U.S. data due this week. Regional trading volumes were limited with most...
Musk to jury: Just Because I Tweet Something, Doesn’t Mean People Believe it
by GalaxyNews | January 21, 2023 | Financial Market | 0 Comments
Elon Musk, Tesla (NASDAQ:TSLA) Inc's chief executive, testified on Friday that investors do not always react to his Twitter messages as he expects, defending himself in a fraud trial over his 2018 tweet that he had funding to take the electric carmaker private. Musk's...