Author: Bruno T
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Morgan Stanley’s Q1 revenue up 4% to $15.1B
Morgan Stanley (NYSE:MS) reported on Tuesday that its revenue for the first quarter amounted to $15.1 billion, rising by 4.1% compared to the same period in 2023 and higher than expected. Net income grew by 14.4% year-on-year to $3.4 billion, with the diluted earnings per share up 18.8% annually to $2.02. The bank said it…
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US industrial production up 0.4% in March
Industrial production in the United States rose by 0.4% in March after increasing 0.1% in the previous month, the Federal Reserve’s Board of Governors stated in its report published on Tuesday. Manufacturing output rose 0.5% compared to the month before and 0.8% on an annual basis. Mining fell by 1.4% on a monthly basis, and…
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US housing starts down 14.7% in March
Privately‐owned housing starts in the United States stood at 1,321,000 in March, decreasing by 14.7% compared to February and 4.3% compared to March 2023, according to a Census Bureau report on Tuesday. Single‐family housing starts fell by 12.4% month-on-month to 1,022,000. Building permits for privately owned housing units came to 1,458,000, dropping 4.3% from February.…
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Meta to temporarily close Threads in Turkey
Meta Platforms Inc. (NASDAQ:META) said on Monday that its social media platform Threads will be temporarily closed starting on April 29 while the giant company prepares to appeal the Turkish Competition Authority (TCA) decision which forbade Threads and Instagram to exchange users’ data last March 18. Users that have accounts in Thread and feel affected…
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Google and US Treasury Launch AI Training Program; Google Faces Antitrust Scrutiny in Japan
Alphabet Inc.’s Google Cloud launched on Monday in collaboration with the United States Department of the Treasury, new generative AI, cybersecurity, and data analytics training programs “to drive a new skills-based hiring effort to expand access to jobs in data analytics and cybersecurity.” “We are partnering with Google to provide the new Cloud Certificates training…
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Tesla Cuts 10% of Workforce, VP Resigns as Shares Fall 4%
Tesla Inc. (NASDAQ:TSLA) is reducing over 10% of its global workforce, according to an internal email sent by CEO Elon Musk on Monday. He said the company carried out a “thorough review of the organization” and that the decision will “enable us to be lean, innovative and hungry for the next growth phase cycle.” He…
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Goldman Sachs’ Q1 net revenue totals $14.21B
Goldman Sachs Group Inc. (NYSE:GS) announced on Monday that its net revenue for the first quarter of 2024 was $14.21 billion, while net earnings were $4.13 billion. According to the report, diluted earnings per common share (EPS) stood at $11.58, and the annualized return on average common shareholders’ equity (ROE) was 14.8% for the there…
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US home builder confidence unchanged in April
Builder confidence in the United States for newly-built single-family homes remained unchanged in April, the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released on Monday showed. Explore strategic opportunities by accessing our comprehensive economic calendar today The reading stood at 51, flat compared to the previous month, marking the fourth consecutive…
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US business inventories up by 0.4% in February
Inventories in the manufacturing and trade sectors in the United States increased by 0.4% in February, compared to the previous month to stand at $2,567.5 billion, according to a report by the US Census Bureau released on Monday. The figure was 1.0% higher on a yearly comparison basis. Explore strategic opportunities by accessing our comprehensive…
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April 10 Economic Digest: CPI Surge, Budget Deficit Shrinkage, and Market Movements in the US
The Consumer Price Index (CPI) for March recorded a 0.4% rise, surpassing expectations and underscoring persistent inflationary pressures in the economy. Excluding the volatile food and energy sectors, the core CPI also saw a 0.4% increase, maintaining a faster pace than anticipated. This uptick has pushed the annual inflation rate to 3.5% from February’s 3.2%,…