Finance world news

Downfall

Citigroup lost $50 million to "fat finger" trader - The WSJ

Citigroup lost $50 million to "fat finger" trader - The WSJ

Citigroup lost $50 million because of a trader with a "fat finger," - The WSJ Citigroup's London-based remote trader mistakenly added an extra zero to the total on the morning of May 2. The consequence was a collapse in European stocks - after a 5-minute sell-off in the OMX Stockholm

If inflation doesn't slow down, another 50 basis point increase may be appropriate, - Fed's Brainard

If inflation doesn't slow down, another 50 basis point increase may be appropriate, - Fed's Brainard

I do expect to see some cooling of the economy over time," Brainard of the Fed If inflation does not slow down, another 50 basis point hike may be appropriate. The market's estimate of a 50 basis point rate hike in June and July seems to be a credible path.

Tesla delays deliveries of some models in the U.S. by a month

Tesla delays deliveries of some models in the U.S. by a month

According to Reuters, the company is delaying deliveries of the Model Y from December to March, the Model 3 from September to December, and the Model X from February to May 2023. Tesla attributed the delays to supply chain problems caused by disruptions in China. Analysts believe that delays in

Fed's Williams: Central banks' role in providing liquidity and stability will remain, but digital currencies could change that

Fed's Williams: Central banks' role in providing liquidity and stability will remain, but digital currencies could change that

The digital revolution in payments and money could have implications for the central bank. It is important for the Fed to understand how digital technology affects the economy, the financial system, and policy implementation. Stablecoins and CBDCs carry both risks and opportunities, Williams added. Bank of England's Hauser: Digital currencies

Daley from the Fed: High inflation has lasted too long

Daley from the Fed: High inflation has lasted too long

According to Daley, Fed officials hope to reach the 2.5% rate by the end of the year. She also called for reaching the target neutral rate as soon as possible. Daley expects at least a "couple" of 50 basis point hikes in the near future. However, she did not

Twitter pays a fine

Twitter pays a fine

Twitter has agreed to pay a $150 million fine for disclosing user data. The lawsuit was filed in the Northern District Court of California. It states that from May 2013 to September 2019, the social network misled its users about how their personal data will be used. Twitter users' phone

Target shares fall 24% on premarket after disappointing report

Target shares fall 24% on premarket after disappointing report

The company failed to meet analysts' earnings expectations. As recent reports have shown, retailers are struggling to keep up with rising inflation. Consumers are choosing cheaper products, reducing companies' margins.

Wallmart shares plummeted 9% after disappointing report

Wallmart shares plummeted 9% after disappointing report

The company failed to beat earnings expectations. At the same time, the company lowered expectations for the coming year - EPS and operating profit may decline by 1%. The reason: rising inflation, higher delivery costs and rising hourly wages. As the company's CFO notes, consumers in the U.S. are

Ups and downs: Lyft slowed down and CarParts gained momentum

Ups and downs: Lyft slowed down and CarParts gained momentum

Here's a recap of the week. We've reviewed the companies whose stocks have seen the sharpest movement these days. 📈 Online auto parts retailer CarParts was one of this week's growth leaders. Their stock is up 37.7% . Investors were pleased with the retailer's report. The company managed to show a

Toyota warns of possible 20% drop in profits

Toyota warns of possible 20% drop in profits

Toyota Motor has warned that "unprecedented" increases in raw material prices could cut annual profits by one-fifth. Supply chain problems have also caught up with the world's largest automaker. Toyota fared well in the first months of the global semiconductor shortage thanks to its large stock of chips. However, the