business news
Hedge funds are doubling down on commodities bets with some notching big gains
Some pumpjacks operate while others stand idle in the Belridge oil field on November 03, 2021 near McKittrick, California. Mario Tama | Getty Images (Click here to subscribe to the Delivering Alpha newsletter.) Hedge funds have ramped up their commodity bets as prices surged during geopolitical turmoil, and managers with big exposure are reaping sizable profits. The […]
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Gramercy Funds CIO on emerging markets investing amid the Russia war, including Ukrainian bonds
(Click here to subscribe to the Delivering Alpha newsletter.) Emerging markets, specifically those in Eastern Europe, have been whipsawed amid the ongoing Russia-Ukraine conflict. With sanctions in place and Russia’s hard default deadline approaching in April, investors are particularly focused on the region’s sovereign debt — an area that Gramercy Funds has specialized in since its inception […]
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Britain’s P&O Ferries sacks 800 staff and suspends sailing, saying its business is ‘not sustainable’
Three P&O Ferries, Spirit of Britain, Pride of Canterbury and Pride of Kent moor up in the cruise terminal at the Port of Dover in Kent as the company has suspended sailings ahead of a “major announcement” but insisted it is “not going into liquidation.” Gareth Fuller | PA Images | Getty Images LONDON — […]
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Delta gives employees 4% raises, first pay increase since before the pandemic
Flight attendants hand out refreshments to a packed Delta Airlines flight traveling from Ronald Regan National Airport to MinneapolisSaint Paul International Airport on Friday, May 21, 2021. Kent Nishimura | Los Angeles Times | Getty Images Delta Air Lines on Thursday said it would give most of its 75,000 employees a 4% pay raise, their […]
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S&P 500 rises in volatile trading, as Wall Street tries to build on monster 2-day rally
The S&P 500 rose Thursday, following back-to-back days of sharp gains, as investors digested the latest news out of Ukraine and the outcome of the Federal Reserve meeting. The broad market average increased by 0.4%. The Dow Jones Industrial Average added 162 points, or 0.4%. The Nasdaq Composite added 0.2%. The moves come after a […]
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Stocks making the biggest moves midday: Dollar General, Occidental Petroleum, Guess and more
A customer enters a Dollar General Corp. store in Colona, Illinois, U.S., on Wednesday, Sept. 10, 2014. Daniel Acker | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Dollar General — Shares of the discount retail chain gained 2.8% despite a weaker-than-expected fourth-quarter report. Dollar General reported $8.65 billion in […]
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Fate of hundreds of civilians in bombed Mariupol theater unclear; Ukraine’s Zelenskyy calls out German lawmakers
U.S. Defense Secretary Austin says enforcing a no-fly zone would mean ‘combat’ with Russia U.S. Secretary of Defence Lloyd Austin and Slovakia’s Defence Minister Jaroslav Nad attend a news conference in the Ministry of Defence of the Slovak Republic in Bratislava, Slovakia, March 17, 2022. Radovan Stoklasa | Reuters U.S. Defense Secretary Lloyd Austin reiterated […]
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Russia claims to have ordered crucial bond payment as it seeks to avoid historic debt default
Russian President Vladimir Putin talks to Finance Minister Anton Siluanov during the EEU Summit meeting on December 20, 2019 in Saint Petersburg, Russia. Mikhail Svetlov | Getty Images News | Getty Images Russia made payments on its sovereign bonds in dollars on Thursday and that money would be distributed to bondholders, according to a report […]
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Biden names Dr. Ashish Jha new Covid response coordinator to succeed Jeff Zients
Dr. Ashish Jha is pictured in Providence, RI on Dec. 3, 2020. Jonathan Wiggs | Boston Globe | Getty Images President Joe Biden on Thursday named Dr. Ashish Jha as his new Covid-19 response coordinator to succeed Jeff Zients, who served in the role through the delta and omicron surges. Jha leads Brown University’s School […]
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Moderna CEO Stephane Bancel has sold more than $400 million of company stock during the pandemic
Moderna CEO Stephane Bancel Steven Ferdman | Getty Images Moderna CEO Stephane Bancel has sold $408 million in company stock since the beginning of the coronavirus pandemic — averaging roughly $3.6 million a week — as the company’s stock soared on the development and rollout of its Covid vaccine, according to CNBC’s analysis of the […]
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