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Inflation takes a March tumble at the wholesale level

Published Tue, 05 Nov 2024 10:50:12 GMT

NEW YORK (AP) — Inflation’s grip on businesses loosened greatly in March, raising hopes that companies and consumers will suffer less from high prices as 2023 rolls on.The U.S. government said plunging energy prices pulled the producer price index down 0.5% in March from February. It marks the biggest decrease in producer prices in three years and follows other reports showing easing inflation on broader consumer prices.Producer prices, also known as wholesale costs, track prices in the production process before they reach the consumer. As a result, the producer price index can provide early signs of where inflation is headed. Some producer price data is also used in the construction of the Federal Reserve’s preferred measure of inflation, and so the decline in producer prices means the Fed’s preferred index may also decline or come in very low when it is reported next week. Lower prices paid by businesses on raw materials and other items means they are less likely to raise prices i...

Heritage Financial: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 10:50:12 GMT

OLYMPIA, Wash. (AP) — OLYMPIA, Wash. (AP) — Heritage Financial Corp. (HFWA) on Thursday reported first-quarter net income of $20.5 million.The Olympia, Washington-based company said it had profit of 58 cents per share.The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.The bank holding company posted revenue of $74.9 million in the period. Its adjusted revenue was $68.1 million, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $68.3 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HFWA at https://www.zacks.com/ap/HFWASource

East West Bancorp: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 10:50:12 GMT

PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — East West Bancorp Inc. (EWBC) on Thursday reported first-quarter earnings of $322.4 million.The bank, based in Pasadena, California, said it had earnings of $2.27 per share. Earnings, adjusted for one-time gains and costs, came to $2.32 per share.The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.16 per share.The bank holding company posted revenue of $895.5 million in the period. Its revenue net of interest expense was $659.8 million, missing Street forecasts. Six analysts surveyed by Zacks expected $667.1 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EWBC at https://www.zacks.com/ap/EWBCSource

Japan PM denounces attack, vows security review before G7

Published Tue, 05 Nov 2024 10:50:12 GMT

TOKYO (AP) — Japanese Prime Minister Fumio Kishida denounced a pipe bomb attack at a campaign event he attended last weekend and pledged to review security procedures to ensure safety for dignitaries visiting the country for the Group of Seven summit he will host in May.“No matter what the reason is, the use of violence to shut down free speech should never be tolerated,” Kishida told selected media from G-7 countries on Thursday at the Prime Minister’s Office, as he stressed that the attack occurred during a nationwide local election campaign.“The election, which is the foundation of democracy, should not succumb to violence. We must carry out the election until the end,” he said, explaining why he has continued to deliver speeches since the attack on Saturday. A man hurled a pipe bomb at Kishida at the fishing port of Saikazaki in the western prefecture of Wakayana just before he was to make a campaign speech for a local candidate from his governing party. The moment t...

Barcelona needs to beat Atletico to avoid fears of meltdown

Published Tue, 05 Nov 2024 10:50:12 GMT

BARCELONA, Spain (AP) — Barcelona may be lucky Real Madrid has loftier goals than trying to mount a desperate comeback in the Spanish league.If not, then Barcelona would face Sunday’s game against Atletico Madrid with the added pressure of ending its scoring drought to ensure it doesn’t get mired in a late-season slump.Barcelona still has a healthy lead of 11 points over Madrid with nine games remaining. But the team hasn’t scored in three straight games after being beaten by Madrid 4-0 in the Copa del Rey and being held to scoreless draws against modest league opponents in Girona and Getafe.So a loss to Atletico combined with a win the previous night by Madrid when it hosts Celta Vigo could stir up fears of a meltdown as Barcelona tries to win its first league title since the departure of Lionel Messi two seasons ago.Madrid, however, has two other titles almost in its grasp. The team will play Osasuna in the Copa del Rey final in Seville on May 6, and three days later it will...

Milan teams turn focus to league ahead of Champions League

Published Tue, 05 Nov 2024 10:50:12 GMT

MILAN (AP) — A city that boasts two teams with a combined 10 European Cup titles has both back in the semifinals of this year’s Champions League — and set to play each other for a spot in the final.Inter Milan and AC Milan need to control their excitement, however, and put their focus back on Serie A, where they are each at risk of not qualifying for next season’s Champions League.Inter Milan completed a 5-3 aggregate victory over Benfica on Wednesday to reach the semifinals for the first time since José Mourinho led the team to the treble of the Champions League, Serie A and Italian Cup in 2010.That came a day after seven-time European champion AC Milan prevailed over Napoli to earn a spot in the final four for the first time since winning the title in 2007.The Milan teams also met in the 2003 semifinals, with AC Milan winning on away goals and going on to beat Juventus in the final.Milan will host Inter on May 10 before the return leg six days later — with both matches playe...

Union Pacific: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 10:50:12 GMT

OMAHA, Neb. (AP) — OMAHA, Neb. (AP) — Union Pacific Corp. (UNP) on Thursday reported first-quarter profit of $1.63 billion.On a per-share basis, the Omaha, Nebraska-based company said it had profit of $2.67.The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.57 per share.The railroad posted revenue of $6.06 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $6.07 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UNP at https://www.zacks.com/ap/UNPSource

OFG: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 10:50:12 GMT

SAN JUAN, Puerto Rico (AP) — SAN JUAN, Puerto Rico (AP) — OFG Bancorp (OFG) on Thursday reported net income of $46.2 million in its first quarter.The bank, based in San Juan, Puerto Rico, said it had earnings of 96 cents per share.The financial holding company posted revenue of $177.5 million in the period. Its revenue net of interest expense was $164.4 million, topping Street forecasts._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OFG at https://www.zacks.com/ap/OFGSource

German court says it won’t hear case against McCann suspect

Published Tue, 05 Nov 2024 10:50:12 GMT

BERLIN (AP) — A German court said Thursday that it has decided not to hear a sex offenses case against a man who also is a suspect in the disappearance of British toddler Madeleine McCann, arguing that the region where it is located isn’t the last place he lived in Germany.Prosecutors in the northern city of Braunschweig in October charged the German suspect in his mid-40s in several separate cases involving sexual offenses allegedly committed in Portugal between 2000 and 2017.The suspect hasn’t been charged in the McCann case, in which he is under investigation on suspicion of murder. He spent many years in Portugal, including in the resort of Praia da Luz around the time of Madeleine’s disappearance there in 2007. He has denied any involvement in her disappearance.The suspect, who has been identified by media as Christian Brueckner, is currently serving a seven-year prison sentence in Germany for a rape he committed in Portugal in 2005.In the German legal system, a cou...

India superará a China como el país más poblado del mundo a mediados de año, dice la ONU

Published Tue, 05 Nov 2024 10:50:12 GMT

(CNN) — India está lista para superar a China como la nación más poblada del mundo, con casi 3 millones de personas más para mediados de este año, según mostraron los datos publicados por las Naciones Unidas este miércoles.Según las proyecciones, la población de la India a mediados de año alcanzará los 1.428 millones, en comparación con los 1.425 millones de China; son 2,9 millones de habitantes menos, según el “Informe sobre el estado de la población mundial” del Fondo de Población de las Naciones Unidas (UNFPA) para 2023.Funcionarios de la ONU dijeron que no es posible determinar la fecha exacta del cambio, debido a la “incertidumbre” sobre los datos provenientes de China e India. El último censo de India fue en 2011 y el más reciente, programado para 2021, se retrasó durante la pandemia de covid-19.Estados Unidos es un tercio muy distante, con una población estimada de 340 millones, mostraron los datos, que reflejan la información disponible hasta febrero.La pob...