Latest Currency markets News

A brazen iPhone scam in Iran reflects its economic struggles and tensions with the West

Feb. 29, 2024 00:33 AM EST

TEHRAN, Iran (AP) — With flashy celebrity ads and promises of deep discounts, a shop in Iran's capital had offered consumers in the Islamic Republic one of the hottest products in the country — an iPhone that came out in 2021. But instead of getting their hands on the handsets,...

Stoneridge: Q4 Earnings Snapshot

Feb. 28, 2024 18:12 PM EST

NOVI, Mich. (AP) — NOVI, Mich. (AP) — Stoneridge Inc. (SRI) on Wednesday reported profit of $3 million in its fourth quarter. The Novi, Michigan-based company said it had profit of 11 cents per share. Earnings, adjusted for non-recurring costs, came to 12 cents per share. ...

Magnite: Q4 Earnings Snapshot

Feb. 28, 2024 17:39 PM EST

NEW YORK (AP) — NEW YORK (AP) — Magnite, Inc. (MGNI) on Wednesday reported profit of $30.9 million in its fourth quarter. The New York-based company said it had net income of 16 cents per share. The digital ad exchange operator posted revenue of $186.9 million in...

China cuts key interest rate in latest move to boost its ailing property sector

Feb. 20, 2024 09:20 AM EST

BANGKOK (AP) — China’s central bank announced Tuesday that it cut its 5-year loan prime rate while leaving its 1-year rate unchanged in the latest move to ease pressures on the ailing property market. The 5-year rate was lowered by 0.25 basis points to 3.95% while the 1-year rate...

Nigeria’s currency has fallen to a record low as inflation surges. How did things get so bad?

Feb. 17, 2024 01:11 AM EST

ABUJA, Nigeria (AP) — Nigerians are facing one of the West African nation’s worst economic crises in years triggered by surging inflation, the result of monetary policies that have pushed the currency to an all-time low against the dollar. The situation has provoked anger and protests across...

Patria Investments: Q4 Earnings Snapshot

Feb. 15, 2024 06:34 AM EST

GRAND CAYMAN, Cayman Islands (AP) — GRAND CAYMAN, Cayman Islands (AP) — Patria Investments Ltd. (PAX) on Thursday reported net income of $47 million in its fourth quarter. The Grand Cayman, Cayman Islands-based company said it had net income of 31 cents per share. Earnings,...

Sifco: Fiscal Q1 Earnings Snapshot

Feb. 14, 2024 16:58 PM EST

CLEVELAND (AP) — CLEVELAND (AP) — Sifco Industries Inc. (SIF) on Wednesday reported a loss of $3.4 million in its fiscal first quarter. The Cleveland-based company said it had a loss of 57 cents per share. The producer of forgings and machined components for the...

Coca-Cola overcomes falling demand in North America and puts up strong fourth quarter sales

Feb. 13, 2024 10:23 AM EST

Coca-Cola reported higher-than-expected revenue in the fourth quarter as growth in Mexico, Germany and other markets offset lower demand in the U.S. Revenue rose 7% to $10.8 billion for the October-December period, the Atlanta beverage giant said Tuesday. That topped Wall Street’s...

How private equity is changing the global soccer landscape with big investments in clubs and leagues

Feb. 06, 2024 18:58 PM EST

MADRID (AP) — Atletico Madrid is revamping its training facilities. Sevilla and Valencia are rebuilding their stadiums. Sporting Gijon is expanding its youth academy. Spanish clubs this week are meeting to showcase and discuss projects funded by their shares of the $2.1 billion...

Bucking industry trends, Chase to open 500 new locations largely in cities where rivals dominate

Feb. 06, 2024 11:50 AM EST

NEW YORK (AP) — JPMorgan Chase plans to open at least 500 new branches in the next three years, the bank said Tuesday. It will reverse a decade-long industry trend where banks like JPMorgan and Bank of America have closed branches as fewer Americans need to cash a paycheck or pull money out of an...