By Byron Kaye and Ayushman Ojha (Reuters) -Australia’s consumer watchdog accused the country’s two largest supermarket chains of misleading shoppers about discounts on hundreds of products in lawsuits filed on Monday, tightening pressure on the sector amid a cost-of-living crisis. The legal action marks a major move against the supermarket giants, which have faced scrutiny from lawmakers and regulators for hitting consumers with high prices at a time when interest rates, housing costs and energy bills have also risen sharply. In separate lawsuits, the Australian Competition and Consumer Commission said Woolworths and Coles held prices steady on certain products for…
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(Reuters) -U.S.-based asset management company Apollo Global Management has offered to make an investment of as much as $5 billion in Intel, Bloomberg News reported on Sunday. Apollo has indicated in recent days it would be willing to make an equity-like investment of billions of dollars in Intel, Source link
On Friday, TD Cowen maintained its Buy rating on shares of CrowdStrike Holdings (NASDAQ:) with a steadfast price target of $380.00. The firm’s outlook remains positive as CrowdStrike introduced a comprehensive range of updates to its Falcon platform, which is anticipated to broaden its total addressable market (TAM) to $116 billion by the calendar year 2025. The firm acknowledged potential challenges, such as Microsoft (NASDAQ:)’s likely move to limit kernel level access for security vendors. Nevertheless, the firm is confident that such changes will not undermine CrowdStrike’s long-term competitive position, citing the critical nature of the Falcon platform’s mission. TD…
Investing.com– Most Asian stocks rose slightly on Monday amid persistent cheer over lower interest rates, while Australian markets lagged as major retail stocks fell sharply in the face of an antitrust lawsuit. Chinese markets advanced after the People’s Bank of China cut a short-term lending rate, although overall gains were limited. Regional trading volumes were held back by a market holiday in Japan. A weak Friday close on Wall Street also made for middling cues, although U.S. stock index futures rose in Asian trade. But Asian markets were sitting on strong gains from the prior week, as sentiment was boosted…
Drew Hallowell/Getty ImagesJD Vance warned recently of a “death spiral” in the US bond market.Vance’s concerns are tied to the US servicing its $35 trillion debt load.”Do they try to take down the Trump presidency by spiking bond rates?” JD Vance asked.Vice Presidential candidate JD Vance worries about soaring interest rates sparking a “death spiral” in the US bond market that could ultimately “take down the finances of this country.”Vance made the comments in a recent interview with conservative political commentator Tucker Carlson, adding that if he and Trump win the November election, it won’t be “smooth sailing for four…
SHANGHAI (Reuters) -China’s central bank supplied 14-day cash to its banking system for the first time in months on Monday and at a lower interest rate, signalling its intent to further ease monetary conditions. The People’s Bank of China (PBOC) injected 234.6 billion yuan ($33.29 billion) into the banking system through open market operations, saying it wanted to “keep quarter-end liquidity adequate at a reasonable level in the banking system”. The PBOC added 160.1 billion yuan via 7-day reverse repos at 1.70%, it said in a statement. It also injected 74.5 billion yuan via 14-day reverse repos at 1.85%, compared…
Indian flag and Chinese flag displayed on screen.Anadolu | Anadolu | Getty ImagesIndia’s commerce minister rejected the idea of joining the Regional Comprehensive Economic Partnership, the world’s largest trade deal, maintaining that it is not in the country’s interest to be part of a free trade agreement with China.”India is not going to join the RCEP because neither did it reflect the guiding principles on which ASEAN was started, nor is it in the nation’s interest to do a free trade agreement with China,” India’s Minister of Commerce and Industry Piyush Goyal told CNBC’s Tanvir Gill in an interview.The RCEP…
Credit: Pixabay/CC0 Public Domain Climate scientists have all kinds of language to discuss their scientific theories. But when it comes to values and justice, scientific language is less helpful. This matters, because when scientists claim a climate policy or scenario is “just,” they sometimes can’t or don’t explain what they actually mean. This leads to confusion. Consider by how much a given country should cut its emissions. If I say a plan is fair and you say it’s unfair, but we don’t have an explanation of what our underlying assumptions are, we’ll just end up talking past each other. Scientists…
Company OverviewWalmart Inc. (NYSE:), a leading multinational retail corporation, operates a chain of hypermarkets, discount department stores, and grocery stores. Serving millions of customers weekly, Walmart is renowned for its commitment to low prices and a broad product range. The company has made significant investments over nearly a decade to transform its digital and physical shopping experiences, positioning itself as a key player in the retail industry. Walmart’s continuous innovation and focus on higher-margin businesses such as advertising, technology, and its Walmart Fulfillment Service are indicative of its strategic direction. Market Performance and Analyst RatingsWalmart’s stock has demonstrated resilience amid…
(Reuters) -U.S.-based asset management company Apollo Global Management (NYSE:) has offered to make an investment of as much as $5 billion in Intel (NASDAQ:), Bloomberg News reported on Sunday. Apollo has indicated in recent days it would be willing to make an equity-like investment of billions of dollars in Intel, the report said, citing a person familiar with the matter. The news comes at a moment of weakness for Intel, which was once the most valuable chipmaker in the world, but whose shares have lost nearly 60% of their value since the start of the year. Intel executives have been…