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The Latest Breaking News from Citi

Cost-of-living crisis: Shock warning on 18% inflation

City experts’ fears over energy price surge and claim rates could hit 7%

Evening Standard

Inflation will hit 18.6 per cent in January, investment bank predicts

INVESTMENT bank Citi has predicted that UK inflation is on course to rise to 18.6 per cent in January – the highest peak in almost half a century.

The National (Scotland)

Citigroup hit with £12.6 million fine by main City market watchdog

FCA finds the bank failed to reach requirements on surveillance to identify market abuse

Evening Standard

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Western Digital Price Target Cut By Analysts Post Q4 Beat

Western Digital Corp (NASDAQ:WDC) clocked 8% year-on-year revenue growth to $4.53 billion in Q4, beating the consensus of $4.49 billion. Non-GAAP EPS of $1.78 beat the consensus of $1.68. Barclays analyst Tom O'Malley had an Equal Weight and $55 price target. The market expected a reset, but the depths of decline and the exclusion…

Benzinga

How to save on back-to-school items during tax-free shopping days

There’s no dispute that the cost of consumer goods is soaring. The U.S. inflation rate rose 9.1 percent for the 12 months ending June 2022. With rising prices across many sectors, the prospect of shopping for your child’s school items can be daunting. What was once economical may now be…

Tribune News Service

Four ways your TV subscriptions could change because of the cost of living crisis

UK households are cancelling streaming service subscriptions, citing the need to cut comforts to afford increasingly expensive necessities such as food and fuel.

The Conversation

Stock Market Rally Pulls Back On Hot Inflation, But Doesn't Break: Weekly Review

The stock market rally retreated as inflation surged to a fresh 40-year high, but pared losses late in the week as earnings season picked up.

Investors Business Daily

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Citi, ShopeePay team for top-up service

Citi Thailand has partnered with ShopeePay to launch a quick transfer service on the platform for convenient and secure payments.

Bangkok Post

Citi Downgrades Six Flags From Buy to Neutral. Should You Buy the Dip?

Shares of Six Flags Entertainment (SIX) have plunged significantly in price after Citi recently downgraded its shares, citing falling attendance due to rising inflation. So, would it be worth buying its shares at the current price level? Let’s find out.

StockNews.com

Where to earn the highest rates on your savings

The top 10 savings accounts offer a chance to earn decent returns on cash deposits – especially if you are happy to make the move to a new bank.

The New Daily

Citi joins Man Group and PineBridge as bullish on China stocks

The trickle of positive calls on Chinese equities has turned into a flood as a recent easing of coronavirus curbs and pledges of more stimulus help revive sentiment.

Bangkok Post

Citi Remains Unfazed By Enron Collapse Predictor's Bearishness On These Data Center Stocks

Citi analyst Michael Rollins noted data center stocks Equinix, Inc (NASDAQ:EQIX), Digital Realty Trust, Inc (NYSE:DLR), Cyxtera Technologies, Inc (NASDAQ:CYXT) were down an average of >5% on July 1 on reports (including Financial Times) that an investor is "betting against 'legacy' data centers that now face growing competition from the trio of tech giants that have been…

Benzinga

Citigroup Negotiating With Local Bidders For Its Russian Operations: FT

Citigroup Inc (NYSE:C) is in talks with local buyers in Russia over a potential sale of its operations in the country, the Financial Times reported, citing people familiar with the matter. The bank is in negotiations with privately-owned Russian companies, including Expobank and insurance company Reso-Garantia for the divestiture, the report said.…

Benzinga

Citi bullish on Thailand

Global economic headwinds notwithstanding, prospects for the Thai economy remain bright, according to Peter Babej, Asia-Pacific chief executive officer for Citi.

Bangkok Post

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The Guardian - US

Many US companies move to pay travel costs for employees seeking abortions

Tech firms and banks, including Bank of America, Goldman Sachs, Citigroup and JPMorgan Chase, add ‘critical healthcare’ package

Benzinga

Citi Sees Gross Margin Expansion Ahead For Spotify

Citi analyst Jason B. Bazinet noted that Spotify Technology S.A. (NYSE: SPOT) has been building a broader audio platform that spans both Music and Podcasts for several years. He noted that these investments have not helped or hurt gross margins.

Benzinga

Citi's Key Takeaways On Amazon's Recent Management Reshuffle

Citi analyst Ronald Josey revisited Amazon.com Inc's (NASDAQ:AMZN), naming veteran executive Doug Herrington as CEO of Worldwide Amazon Stores (renamed from Worldwide Consumer) and promoting John Felton as its new head of Operations. Given this announcement comes ~2 weeks post Dave Clark's resignation, Josey expected minimal disruption to store operations. While Josey recognized the challenges…

Benzinga

Citibank Selects METACO, Swiss Firm, For Institutional Cryptocurrency Custody

Citibank (NYSE: C) has partnered with METACO to use its technology to develop and lead virtual asset custody abilities.

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Benzinga

Boeing Says Supply Chain Issues To Persist Through Majority Of 2023

Boeing Co (NYSE:BA) expects supply chain problems to persist almost until the end of 2023, led by labor shortages at mid-tier and smaller suppliers, partly due to the faster-than-expected return of demand, reported Reuters, citing BA's chief executive on Wednesday. "The shift from demand to now supply issues ... is remarkable, the…

Axios

Latest economic data hints at new era of slower growth

Economic reports are falling short of expectations by more than we've seen since the initial shock of COVID crisis

StockNews.com

Should You Pick Up Nokia After Citi Upgrade?

Shares of Nokia (NOK) have declined in price despite its strong financial results and relatively high profitability. However, can the stock rebound as Citigroup upgrades its recommendation? Read on to find out.

Financial Times

Revlon bankruptcy complicated by Citi’s $900mn error

Data entry mistake in 2020 leads to infighting among creditors of indebted US cosmetics group

Benzinga

3 Things You Need To Know Today

Daily Market News

Benzinga

Citi Turns Bullish On Boeing - Read Why

Citi analyst Charles J Armitage upgraded the aerospace and defense firm Boeing Co (NYSE:BA) to Buy/High Risk from Neutral and lowered the price target to $209 (implying an upside of 56.3%) from $219. The analyst seeks to value Boeing on the assumption that the (significant) medium-term risks can be mitigated while also quantifying those risks.…

Benzinga

Citi Reiterated Neutral Rating On Intel, AMD - Read Why

Citi analysts Christopher Danely and Kelsey Chia observed that May notebook shipments were up 22% month on month, below Citi's expectation of up 29% due to demand deceleration. This is the fifth consecutive month where notebook shipments were below expectations.

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