Month: February 2020

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Key Republicans Still Undecided on Shelton’s Fed Nomination

February 25, 2020 admin Comments Off on Key Republicans Still Undecided on Shelton’s Fed Nomination

(Bloomberg) — Three key Republicans on the Senate Banking Committee said Monday that they remain undecided on President Donald Trump’s nomination of Judy Shelton to the Federal Reserve Board.“She doesn’t have my vote yet,” Alabama Senator Richard Shelby said as lawmakers returned to Washington from a break.Republican Senator John Kennedy of Louisiana said he’s still reviewing Shelton’s work, trying to determine where she stands on policy issues regarding the Fed.“I’m just trying to understand what her position is,” he said. “It’s changed pretty dramatically.”Senator Pat Toomey, a Pennsylvania Republican and another member of the Banking Committee, is also undecided, according …read more […]

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Scotiabank, Bank of Montreal Earnings Lifted by Market Surge

February 25, 2020 admin Comments Off on Scotiabank, Bank of Montreal Earnings Lifted by Market Surge

(Bloomberg) — Improving markets gave Bank of Nova Scotia and Bank of Montreal a first-quarter profit boost, with the two Canadian financial giants reporting higher earnings in capital markets and wealth management.Scotiabank’s capital-markets division posted a turnaround quarter, while earnings from global wealth management climbed as well. They were the Toronto-based company’s best-performing units in the three months through Jan. 31. Bank of Montreal benefited as well, with a 39% surge in BMO Capital Markets earnings, helping counter a profit decline at the lender’s U.S. retail-banking unit.The two companies join Royal Bank of Canada in posting first-quarter results Tuesday that …read more […]

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Macy’s Earnings Beat Offers Hope Ahead of ‘Transition Year’

February 25, 2020 admin Comments Off on Macy’s Earnings Beat Offers Hope Ahead of ‘Transition Year’

Macy’s has logged fourth-quarter earnings that outpaced analysts’ bets, signaling hopes for the struggling retailer amid its ambitious turnaround efforts.The department store chain announced on Tuesday earnings per share of $2.12 on an adjusted basis, versus Wall Street’s expectations of $1.96 per share. Although revenues dropped 1.46% to $8.34, the figure topped forecasts of $8.32 billion.Macy’s attributed the earnings beat to a solid holiday shopping season. For the three months ended Feb. 1, same-store sales dropped 0.8% on an owned basis and fell 0.7% on an owned-plus-licensed basis. (Investors appeared bullish on signs of improvement at Macy’s when it released …read more […]