Author: Admin

Japan intervenes to counter currency weakness, sources say; yen surges

Ford signage at the New York International Auto Show in New York City on April 2, 2026.Danielle DeVries | CNBCDETROIT – Ford Motor raised its 2026 guidance on Wednesday after beating Wall Street’s first-quarter expectations and reporting a $1.3 billion tariff refund benefit after the U.S. Supreme Court ruled that some of President Donald Trump’s tariffs were illegal.Ford stock rose more than 6% in after-hours trading.Here’s how the company performed in the first quarter compared with average estimates compiled by LSEG:Earnings per share: 66 cents adjusted vs. 19 cents expectedAutomotive revenue: $39.82 billion vs. $38.82 billion expectedThe first-quarter results significantly…

FOMC holds as Powell decides to stay on – Central Banking Skip to main content End of drawer navigation content Outgoing chair to remain as governor, citing uncertainty over further potential criminal probes Jerome Powell has vowed to stay on as a member of the Federal Reserve board after his term as chair ends next month, citing what he regarded as the unresolved nature of the Department of Justice’s criminal investigations.Powell used the press conference following the Federal Open Market Committee’s rates decision today (April 29) to state that he would only leave the Fed board “when I think it’s…

The Prince Group allegedly ran at least 10 scam compounds and stole billions through pig butchering schemes targeting victims online. World Liberty Financial (WLFI), the crypto company co-owned by the Trump family, announced a partnership with a blockchain network called AB, less than a month after the US government sanctioned more than 140 people and entities tied to what it described as one of Asia’s largest criminal organizations. But according to the Wall Street Journal (WSJ), AB’s flagship resort project in East Timor involved three people sanctioned in that crackdown, raising questions about due diligence in Trump-linked crypto deals.…

The Dow Industrials fell for a fifth consecutive session on Wednesday as oil prices rose and kept stocks under pressure.

May NY world sugar #11 (SBK26) on Wednesday closed up +0.57 (+4.04%), and Aug London ICE white sugar #5 (SWQ26) closed up +11.90 (+2.75%).Sugar prices rallied sharply on Wednesday, with NY sugar posting a 3-week high and London sugar posting a 4-week high.  Strength in gasoline prices is supportive for sugar, as gasoline (RBM26) surged to a 3.75-year high on Wednesday, boosting ethanol prices and potentially persuading the world’s sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.   Don’t Miss a Day: From crude oil to coffee, sign up free for…

US single-family housing starts jump to 13-month high in March

ESPN and the NFL announced a deal Tuesday, granting ESPN the league’s media assets, including NFL Network. The NFL will retain a 10% ownership share of the network. The Walt Disney Company is reportedly backing away from plans to spin off ESPN, shelving years of speculation that a standalone sports network could help offset the company’s declining cable business.  The decision marks one of the first major calls under CEO Josh D’Amaro, who stepped into the role in March.”Instead, the sports network will stay inside the media giant, which thinks its presence will help its pivot to streaming,” sources said,…

A Manhattan federal judge has denied FTX CEO and co-founder Sam Bankman-Fried’s motion for a new trial, rejecting his claim that there is new evidence.Judge Lewis Kaplan, who oversaw Bankman-Fried’s trial in 2023 and sentenced him to 25 years in prison in early 2024, wrote in an order on Tuesday that Bankman-Fried’s claim of new evidence and witnesses was baseless.“This motion appears to be one part of a plan to rescue his reputation that Bankman-Fried hatched and even committed to writing after FTX declared bankruptcy but before he was indicted,” Judge Kaplan wrote.Bankman-Fried in February had requested a new trial…

While Meta Platforms has shaped up to be good at monetizing artificial intelligence in consumer-facing advertising, some analysts question whether the company’s AI models have applications beyond that.