Breaking News
Jan 13, 2023
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Wells Fargo fourth quarter revenue declined 6% to $19.6 billion and net income plunged 57% to $2.8 billion from $5.7 billion and earnings per share fell to 67 cents from $1.38 a year ago.
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Global markets rally lifted the U.S. indexes between 2.5% and 5.0% and European markets between 1.5% and 3% for the week.
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The S&P 500 index extended weekly gain to 2.7% and the Nasdaq Composite index soared 4.8% after recession worries eased.
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China's exports rose 7.7% and imports edged up 1.1% resulting in record trade surplus of $877.6 billion in 2022, despite the global slowdown and economic uncertainties.
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China's consumer price index rebounded
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European markets extended gains to 9-month highs on the expectations of moderating inflation worldwide and ahead of the U.S. inflation report later today.
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India's consumer price index eased to 5.72% in December from 5.8% in November after vegetable prices fell 15% but fuel and power prices rose 11%. On a monthly basis, the index fell 0.45%
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The CPI inflation fell 0.1% in December from November and eased to 6.5% on an annual basis, the BLS reported Thursday. Core inflation accelerated to 0.3% and 5.7% on a monthly and annual basis.
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Porsche said its worldwide automobile sales increased 3% to 310,000 in 2022 after sales in its single largest market China declined 2%, Europe sales rose 7% and North America sales were flat.
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Japan's new car sales declined 5.6% in 2022, the lowest level in 45 years, to 4.2 million units. Toyota's domestic sales dropped 12.4% to 1.2 million.
Jan 12, 2023
Jan 6, 2023