March 6, 2023 United States: US Banks Are Finally Being Forced to Raise Rates on Deposits US banks are being forced to do something they haven’t done for 15 years: fight for deposits. After years of earning next to nothing, depositors are discovering a trove of higher-yielding options like Treasury bills and money market
March 3, 2023 Revenue increased by 21% to $772.23 million (2021: $637.71 million). For the quarter, revenue increased 21% to $210.29 million (2021: $173.53 million). Management noted that this improvement was driven by the continuous refinement of their sales approach strategies. Cost of sales increased 23% to $543.22 million (2021: $441.81 million). Consequently, gross
March 2, 2023 Revenue increased 4% to $18.42 billion (2021: $17.74 billion). For the quarter, trading income declined 17% to $4.61 billion (2021: $5.55 billion). Cost of sales declined 4% to $13.78 billion (2021: $14.34 billion). Consequently, gross profit increased 36% to $4.64 billion (2021: $3.41 billion). For the quarter, gross profit increased 54%
March 2, 2023 United States: Elizabeth Warren Wants Biden’s Next Fed Pick to Counter Powell’s ‘Extreme’ Rate Hikes President Joe Biden’s choice for Federal Reserve vice chair will signal where he stands on combating inflation — and whether he agrees with restive progressives worried that the central bank’s rate increases will lead to job
March 1, 2023 United States: Corporate America’s Earnings Quality Is the Worst in Three Decades In telling their stories about how the future is bright for stocks, bulls point to solid earnings to justify the optimism. But cracks are forming in that narrative — in the trajectory of profits, and just as worryingly in
February 27, 2023 For the third quarter of 2022, Jamaica’s economy outperformed the Bank of Jamaica (BOJ) projection with an outturn of 5.9% and continued to expand in the fourth quarter of 2022 and the first quarter of 2023 period, to date. According to BOJ Governor, Richard Byles, domestic economic activity is anticipated to
February 27, 2023 United States: Yellen Notes Inflation Problem But Still Sees Soft Landing Path US Treasury Secretary Janet Yellen said inflation continues to be a problem even as she reiterated her conviction that there is a path for it to come down while maintaining a strong labor market. Yellen’s comments come after data
February 24, 2023 United States: Millions of US Workers Are Still Missing After The Pandemic. Where Did They Go? Millions of workers are still missing from the US labor force three years after Covid-19 surfaced, and economists are scratching their heads as to how big the gap actually is and where all these people
August 31, 2023 Seprod Limited (SEP) for the twelve months ended December 31, 2022, reported a 79% increase in turnover totalling $78.43 billion compared to $43.88 billion in the corresponding period last year. Turnover for the fourth quarter had a 112% increase to close at $26.99 billion compared to $12.73 billion for the comparable
February 23, 2023 United States: Fed’s Williams Says 2% Inflation Goal Key to Taming Prices Federal Reserve Bank of New York President John Williams said it’s critical the US central bank remain committed to its 2% inflation goal, and emphasized monetary policy must bring supply and demand into better balance to lower inflation. “At
