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Bloomberg
Levi Outlook Clouded by Stronger Dollar, Supply-Chain Disruptions
(Bloomberg) — Levi Strauss & Co. reported quarterly revenue that fell short of expectations, and the denim maker also reduced its outlook for the full year, citing economic uncertainty along with supply-chain disruptions and a stronger US dollar. Most Read from BloombergNord Stream Leaks Caused by Detonations in Sign of SabotageTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Kremlin Lets State Media Tell Some Truths About Putin’s Stalling WarSecretive Chip Start
Motley Fool
Why AMD Stock Fell Before Recovering Earlier Today
Shares of Advanced Micro Devices (NASDAQ: AMD) were down over 4% this morning before rallying. Wells Fargo analyst Aaron Rakers cut his growth estimates for the next three years, citing weakening demand in the PC market that might spill over to the data center market, a key driver of growth for the chipmaker. In AMD’s last earnings call in early August, CEO Lisa Su mentioned that the company’s next-generation 5-nanometer Genoa server central processing unit (CPU) was experiencing very strong customer pull.
Bloomberg
World’s Oldest Bank Is Running Out of Time to Secure Funds for Key Capital Increase
(Bloomberg) — The clock is ticking for Banca Monte dei Paschi di Siena SpA Chief Executive Officer Luigi Lovaglio as he makes a last-ditch effort to convince arranger banks to go in on a vital capital increase and to secure funds in advance from a range of investors.Most Read from BloombergTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Nord Stream Leaks Caused by Detonations in Sign of SabotageSecretive Chip Startup May Help Huawei Circumvent US SanctionsKremli
Bloomberg
Musk Asks Delaware Judge to Halt Lawsuit Over $44 Billion Twitter Deal
(Bloomberg) — A judge halted the court case against Elon Musk over his $44 billion purchase of Twitter Inc., giving the parties until 5 p.m. on Oct. 28 to complete the deal. Most Read from BloombergNord Stream Leaks Caused by Detonations in Sign of SabotageTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Kremlin Lets State Media Tell Some Truths About Putin’s Stalling WarSecretive Chip Startup May Help Huawei Circumvent US SanctionsMusk’s Twitter Takeover Hits Sn
Reuters
Moody’s says Credit Suisse could suffer $3 billion loss in 2022
Rating agency Moody’s Investors Service expects losses for Credit Suisse to swell to $3 billion by year-end, potentially bringing its core capital below the key 13% level, Moody’s lead analyst on the bank told Reuters. Credit Suisse has reported 1.9 billion francs ($1.92 billion) of losses in the first half of the year. “We are forecasting further losses in the second half of the year,” said Alessandro Roccati, senior vice president in the financial institutions group of the rating agency.
Reuters
Fed officials, including newcomer Cook, sing from same policy hymn book
New Federal Reserve Governor Lisa Cook on Thursday added her voice squarely to the U.S. central bank’s broad consensus for continued interest rate hikes, as other policymakers joined to reiterate they see no let-up in the monetary tightening. U.S. inflation “remains stubbornly and unacceptably high, and data over the past few months show that inflationary pressures remain broad-based,” requiring continued rate increases to be sure it begins falling, Cook said in her first public remarks on monetary policy since joining the Fed’s Washington-based board. Cook, speaking to the Peterson Institute for International Economics in Washington, said recent declines in job vacancies, slowing rent increases and other data showing that price pressures might be easing were not enough to conclude the Fed had rounded the corner in its fight against rising prices.
Bloomberg
Fed’s Waller Sees Additional Rate Hikes Into Early Next Year
(Bloomberg) — Federal Reserve Governor Christopher Waller said the US central bank needs to continue to raise interest rates into early 2023 and keep the battle over inflation a top priority despite roiled financial markets.Most Read from BloombergNord Stream Leaks Caused by Detonations in Sign of SabotageTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Kremlin Lets State Media Tell Some Truths About Putin’s Stalling WarSecretive Chip Startup May Help Huawei Circ
Reuters
Citi expects global equities to rally 18% by end-2023
Global stock are trading well below their peaks, with the U.S. benchmark S&P 500 index in a bear market for most of this year as central banks’ war on inflation has led to a steep rise in interest rates and sparked fears of an economic downturn. Strategists from the Wall Street bank on Thursday set a target of 780 points for the MSCI AC World Index (Local), which includes emerging markets, for end-2023, compared with 679 points it hit on Sept. 30. “Highly valued stocks have been hit hard, with the MSCI AC World Growth index derating from 31x to 19x,” Citi’s Robert Buckland said, referring to price-to-earnings(PE) ratios.
Bloomberg
UK Banks Talk Mortgages, Living Costs With Chancellor Kwarteng
(Bloomberg) — Chancellor of the Exchequer Kwasi Kwarteng discussed ways to ease the cost-of-living crisis, including giving more time for energy and council tax payments, with the bosses of UK banks on Thursday. Most Read from BloombergNord Stream Leaks Caused by Detonations in Sign of SabotageTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Kremlin Lets State Media Tell Some Truths About Putin’s Stalling WarSecretive Chip Startup May Help Huawei Circumvent US Sa
