Commodities in focus... Banks prepare for bad loans from energy sector... Toshiba CEO resigns due to accounting scandal... CEOs are planning to expand...
Commodities in focus
Global markets have been trading higher Tuesday although commodity prices have kept gains to a modest level. Oil prices have also continued to slip, held up only by a dip in the US dollar as the supply glut remains. Asian markets have closed higher, buoyed by Wall Street’s positive finish in the previous session. European markets are mixed on commodity prices and regional earnings.
US stock futures are mixed with the Nasdaq outperforming. Oil is trending lower (Brent $56.58, WTI $50.02 at 6.30am ET). Gold is trending lower.
Today’s data
The weekly chain-stores Redbook is out at 8.55am ET
Apple, GoPro and Microsoft are among the companies reporting earnings today.
Banks prepare for bad loans from energy sector
American banks are setting aside additional funds to mitigate the risk of bad loans in the energy sector. Reuters says that although the level of delinquent loans overall hit their lowest level since 2007 in Q1 2015, the banks are concerned that their profits could be impacted by oil and gas companies defaulting. JP Morgan Chase, Wells Fargo and Comerica are among the lenders taking pre-emptive action.
Toshiba CEO resigns due to accounting scandal
The chief executive of Toshiba has stepped down following a five-month investigation into accounting irregularities running to $1.2 billion. Hisao Tanaka along with the vice-chair of the board have resigned and chair Masashi Muromachi has been named interim president. In a letter to shareholders the electronics firm apologized for the scandal and says it takes the situation very seriously.
CEOs are planning to expand
A major new study released by KPMG International, which tracks insights on the coming three years, chief executives of global businesses said they are confident about the ability of their companies to grow over the next three years and are expressing confidence about the prospects for the global economy. When asked whether their primary focus would be on growth or operational efficiency over the next three years, 94 per cent of US CEOs cited growth, while their Asian and European counterparts said they were focused on operational efficiency.
Global markets have been trading higher Tuesday although commodity prices have kept gains to a modest level. Oil prices have also continued to slip, held up only by a dip in the US dollar as the supply glut remains. Asian markets have closed higher, buoyed by Wall Street’s positive finish in the previous session. European markets are mixed on commodity prices and regional earnings.
US stock futures are mixed with the Nasdaq outperforming. Oil is trending lower (Brent $56.58, WTI $50.02 at 6.30am ET). Gold is trending lower.
Today’s data
The weekly chain-stores Redbook is out at 8.55am ET
Apple, GoPro and Microsoft are among the companies reporting earnings today.
Banks prepare for bad loans from energy sector
American banks are setting aside additional funds to mitigate the risk of bad loans in the energy sector. Reuters says that although the level of delinquent loans overall hit their lowest level since 2007 in Q1 2015, the banks are concerned that their profits could be impacted by oil and gas companies defaulting. JP Morgan Chase, Wells Fargo and Comerica are among the lenders taking pre-emptive action.
Toshiba CEO resigns due to accounting scandal
The chief executive of Toshiba has stepped down following a five-month investigation into accounting irregularities running to $1.2 billion. Hisao Tanaka along with the vice-chair of the board have resigned and chair Masashi Muromachi has been named interim president. In a letter to shareholders the electronics firm apologized for the scandal and says it takes the situation very seriously.
CEOs are planning to expand
A major new study released by KPMG International, which tracks insights on the coming three years, chief executives of global businesses said they are confident about the ability of their companies to grow over the next three years and are expressing confidence about the prospects for the global economy. When asked whether their primary focus would be on growth or operational efficiency over the next three years, 94 per cent of US CEOs cited growth, while their Asian and European counterparts said they were focused on operational efficiency.
