Business

Netflix to let more subscribers preview content – WSJ

Netflix Inc (NFLX.O) is planning to let tens of thousands of users around the world to preview content from early next year, expanding beyond its current previewer base of 2,000-plus subscribers, the Wall Street Journal reported on Thursday. Netflix’s Preview Club, which started more than a year ago, allows its members to watch some shows […]

Business

Bank of Montreal posts lower quarterly profit as capital markets slump

Canada’s Bank of Montreal (BMO.TO) posted a lower fourth-quarter profit on Thursday, as revenue from its capital markets business tumbled and the lender increased provisions for credit losses to brace for potential defaults in the face of a tepid economy. Net income, excluding one-off items, fell to C$2.14 billion ($1.59 billion), or C$3.04 a share, […]

Business

Credit Suisse shares get closer to offer price in $2.4 bln cash call

Credit Suisse (CSGN.S) shares fell to a fresh record low on Thursday approaching the offer price of the 2.24 billion Swiss francs ($2.37 billion) rights issue the loss-making bank needs to help stabilise its finances. By 1019 GMT, Credit Suisse shares fell to as low as 2.667 francs, which is around 5% above the 2.52 […]

Business

J.P.Morgan cuts 2023 S&P 500 earnings forecast by 9%

J.P.Morgan on Thursday cut its 2023 earnings forecast for S&P 500 (.SPX) companies, citing weaker demand and pricing power, margin compression, and limited buy-backs. JPM strategists now estimate S&P 500 earnings per share for next year to be $205, down 9% from an earlier forecast of $225. They also flagged that the S&P 500 index […]

Business

Euro zone factory downturn eased in November, inflationary pressures moderated

The downturn in manufacturing activity across the euro zone eased in November, according to a survey which suggests while the bloc’s factories still face a harsh winter it may not be as bad as initially feared. S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) rose to 47.1 from October’s 46.4, but was below a preliminary […]

Business

Meta executive says holiday sales were earlier and bigger this year

The head of Meta Platforms’ (META.O) business group said on Wednesday that the holiday shopping season started earlier than usual this year and produced a Black Friday sales weekend that appeared to be the biggest on record. Consumers anxious about supply shortages were stocking up early on desired gifts, while businesses with excess inventory sought […]

Business

Analysis: Markets sigh with relief after Powell speech, but more turbulence likely ahead

A rally in U.S. stocks and bonds powered ahead after a speech by Federal Reserve Chairman Jerome Powell on Wednesday, but some investors believe a looming recession could cap gains in both asset classes. Though asset prices have been battered by the Fed’s rate rises this year, momentum has been on the side of the […]