Iran raises prices of food staples, stirring panic and anger Iran has abruptly raised prices as much as 300% for a variety of staples like oil, chicken, milk and eggs The Independent UK · May 12, 2022
2 Cannabis Stocks to Avoid After Stifel Cuts Their Price Targets Surging inflation and the Fed’s hawkish monetary policy stance could keep the stock market under pressure in the near term. Amid the uncertainties surrounding the economy and the stock market, Stifel analysts are maintaining a negative outlook on the cannabis industry and have cut their price targets for the stocks… StockNews.com · May 12, 2022
Beware of These 4 Overvalued Large-Cap Stocks Despite the latest federal interest rate increases, the U.S. markets are plumbing record lows amid skyrocketing core inflation. Given the volatile backdrop, we think it could be wise to avoid the stocks of large-cap companies Clorox Company (CLX), Consolidated Edison (ED), Telefónica (TEF), and Avis Budget Group (CAR). These stocks… StockNews.com · May 12, 2022
Tata Motors Q4 consolidated net loss narrows to Rs 992 crore; revenue down at Rs 78,439 crore NEW DELHI: Homegrown auto major Tata Motors on Thursday reported narrowing of consolidated net loss at Rs 992.05 crore in the fourth quarter ended March 2022 amid challenges of semiconductor shortage and rising inflation. The Times of India · May 12, 2022
4 Buy-Rated Stocks Under $10 to Add to Your Watchlist Concerns over heightened inflation, the Fed’s tighter monetary policy, deepening supply chain constraints amid the Russia-Ukraine war, and extended lockdown measures in Chinese cities are expected to keep the stock market under pressure for an extended period. So, amid the current risk-off environment, we think it could be wise to… StockNews.com · May 12, 2022
Swati Dhingra to join Bank of England’s monetary policy committee LSE academic and prominent Brexit critic is first Asian woman to be appointed to role, replacing Michael Saunders The Guardian - UK · May 12, 2022
US Foods Q1 Earnings Lags Street View; Reaffirms FY22 Outlook US Foods Holding Corp (NYSE:USFD) reported first-quarter FY22 sales growth of 23.9% year-on-year, to $7.8 billion, missing the consensus of $8.59 billion. Total case volume increased 4.1%, and independent restaurant case volume rose 9.2%. The revenue growth was primarily driven by higher total case volume and food cost inflation of 17.3%. Gross profit… Benzinga · May 12, 2022
4 Promising Small-Cap Stocks to Buy in May The stock market plunged yesterday after a hotter-than-expected inflation data release. Many analysts believe it will be hard for the Fed to tame the surging inflation without pushing the economy into a recession. However, the market downturn presents an opportunity for investors to scoop up quality small-cap stocks Civeo (CVEO),… StockNews.com · May 12, 2022
Senate confirms Powell to second term as Fed chairman - Roll Call The Senate on Thursday confirmed Jerome Powell for a 2nd term as chairman of the Federal Reserve, the third Fed nominee confirmed this week. Roll Call · May 12, 2022
Average long-term US mortgage rates edge up to 5.3% Average long-term U.S. mortgage rates edged up again this week, with interest on the key 30-year loan at its highest level since 2009 The Independent UK · May 12, 2022
Saudi Aramco overtakes Apple as world’s most valuable company Soaring commodity prices swell oil giant’s profits as tech stock slide pegs back iPhone maker The Guardian - UK · May 12, 2022
Dogecoin Crashes Sharply As Crypto Market Goes Down Bottomless Pit: Who Is To Blame? Dogecoin (CRYPTO: DOGE) plunged sharply by over 30% to $0.07 in the 24 hours leading up to the early hours of Thursday. The meme coin fell amid a wide rout in the market as the global cryptocurrency market cap dropped 19.15% to $1.2 trillion. Benzinga · May 12, 2022
Senate Democrats Try and Fail To Codify Roe v. Wade Abortion Protection Plus: Texas' social media law goes back into effect, inflation worries voters, and more... Reason · May 12, 2022
Utz Brands Boosts FY22 Sales Outlook On Solid Q1 Results Utz Brands Inc (NYSE:UTZ) reported first-quarter FY22 sales growth of 26.6% year-on-year to $340.8 million, beating the consensus of $311.1 million. Organic net sales improved 20.7% to $324.8 million. Adjusted gross profit grew 10.7% Y/Y to $115.7 million, while the adjusted gross profit margin contracted 487 basis points to 33.9%. The operating loss… Benzinga · May 12, 2022
The Independent UK · May 12, 2022 Slightly more Americans seek jobless aid last week The number of Americans applying for jobless aid ticked up slightly last week but the total number of Americans collecting benefits remained at its lowest level in more than five decades
Asharq Al-Awsat · May 12, 2022 Oil Slips on Fears Recession May Hit Demand Oil prices fell on Thursday in a volatile week as recession fears dogged global financial markets, outweighing supply concerns and geopolitical tensions in Europe. Brent crude was down $1.92, or 1.8%, to $105.59 a barrel at 1202 GMT.
The Independent UK · May 12, 2022 US producer prices surge 11% in April on higher food costs U.S. producer prices soared 11% in April from a year earlier, a hefty gain that indicates high inflation will remain a burden for consumers and businesses in the months ahead
The Conversation · May 12, 2022 Grattan on Friday: It's Albanese's to lose, as Morrison looks for some momentum The Liberals have used John Howard extensively during this campaign. These days, they celebrate their party hero as the great winner. He was, however, the last Liberal prime minister to take his party into the wilderness.
The Times of India · May 12, 2022 Retail inflation jumps to 8-year high of 7.79% in April NEW DELHI: Retail inflation based on consumer price index (CPI) jumped to 8-year high of 7.79 per cent in April, data released by government showed on Thursday.
The Philadelphia Inquirer · May 12, 2022 'Meme' and tech stocks are crashing, so how are experienced investors hanging on? t's a perfect storm for the stock market this year: geopolitical turmoil, high inflation, and higher interest rates in 2022.
Tribune News Service · May 12, 2022 Is inflation leading to smaller toilet paper rolls or less toothpaste in the tube? A mega roll of Cottonelle toilet paper used to contain 340 sheets. Now, it’s 312.
The New Daily · May 12, 2022 Head to Head: Cheryl Kernot and Christopher Pyne break down week five of the campaign Every week until election day, we'll be asking them to analyse current events and offer insights into life on the campaign trail.
The New Daily · May 12, 2022 Market Wrap: Battered Bitcoin, high inflation and melting gold prices dominated markets this week Another tough week for the ASX200, falling over 3 per cent, as May lived up to its reputation as a volatile one for local markets.
McClatchy Washington Bureau · May 12, 2022 A socialist, a billionaire, a podiatrist: Alex Padilla’s Senate challengers in California WASHINGTON — What do a socialist, a billionaire and a podiatrist have in common?
Evening Standard · May 12, 2022 What is a recession? Gordon Brown warns Trump is pushing the world towards recession ‘No more than a narrow window of opportunity remains if we are to prevent an unnecessary global recession,’ warns former prime minister