Hurricane Milton made landfall in Florida near Sarasota late Wednesday, resulting in at least 10 fatalities. The storm knocked out power for over 3 million customers and caused extensive flooding. However, officials are cautiously optimistic that the damage will not be as severe as that caused by Hurricane Ian in 2022.
Jane Street Group's soaring profits are now at the heart of its legal fight with two former traders and Millennium Management. The dispute centers around allegations that they stole a secret billion-dollar options trading strategy focused on India. As Jane Street thrives financially, this case highlights the intense competition and high stakes in the trading industry.
Applications for US unemployment benefits rose last week to a more than one-year high. This increase is particularly notable in Michigan and states affected by Hurricane Helene.
The Container Store Group Inc. is facing a potential hostile takeover as signs of a corporate raider emerge. The home-goods retailer's stock, which briefly surged during the pandemic’s daytrading boom, has since plummeted. Investors are watching closely as this situation unfolds.
Unilever Plc has sold its Russian subsidiary to local manufacturer Arnest Group. This move marks Unilever's exit from Russia during the ongoing conflict following the invasion of Ukraine. The decision comes after the company faced ongoing public pressure over its presence in the country for the past three years.
The euro is facing its worst weekly drop since July as traders anticipate that the European Central Bank will lower interest rates next week. Options markets are reflecting these concerns, indicating a shift in investor sentiment towards a potential easing of monetary policy.
Inflation in the Czech Republic rose faster than anticipated last month, reinforcing the case for the central bank to adopt a careful stance on interest rate cuts. This unexpected increase in inflation could make policymakers more hesitant to lower rates, as they assess its impact on the economy.
European stocks remained steady on Thursday as investors held back in anticipation of important US inflation data and monitored ongoing geopolitical tensions.
BMW and Mercedes-Benz reported a decline in car sales in China during the third quarter. Weak consumer sentiment in the country is impacting luxury spending, affecting both automakers' performances in their largest market.
Fast Retailing Co. is making waves in the U.S. and Europe with its Uniqlo brand, filling closets with its stylish apparel. Despite facing a slowdown in China, the Japanese retailer has achieved record annual revenue.
