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Bank Of England Softens Policy Tightening; Signals Additional Hike Ahead
The Bank of England lifted its benchmark rate for the ninth straight session on Thursday, but moderated the pace of tightening from the previous session's 75 basis point hike, as widely anticipated, echoing the US Federal Reserve's move a day earlier. In a three-way split, the Monetary Policy Committee of the BoE raised the bank rate by 50 basis points to 3.50 percent.
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Philly Fed Index Remains Negative For Fourth Straight Month In December
Philadelphia-area manufacturing activity contracted at a slower rate in the month of December, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The Philly Fed said its diffusion index for current activity rose to a negative 13.8 in December from a negative 19.4 in November, although a negative reading still indicates a contraction.
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New York Manufacturing Index Indicates Downturn In December
The Federal Reserve Bank of New York released a report on Thursday showing a downturn in regional manufacturing activity in the month of December. The New York Fed said its general business conditions index tumbled to a negative 11.2 in December from a positive 4.5 in November, with a negative reading indicating a contraction.
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Walmart Drone Delivery Service Now Available For Select Customers In The Tampa, Orlando Areas
Retail giant Walmart, Inc. (WMT) announced Thursday that its drone delivery service is now available for select customers in the Tampa and Orlando areas. The new delivery option will be fulfilled from seven stores, making it easier than ever for customers to grab those last-minute gifts.
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U.S. Retail Sales Pull Back In November Amid Steep Drop In Auto Sales
After reporting a sharp increase in U.S. retail sales in the previous month, the Commerce Department released a report on Thursday showing retail sales pulled back by much more than expected in the month of November.
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Patterson Cos. Confirms Kevin Barry As CFO; Promotes Kevin Pohlman To COO
Patterson Companies, Inc. (PDCO) announced Thursday enhancements to its executive leadership team to further support the execution of its strategy. Kevin Barry, most recently the Company's Interim Chief Financial Officer, has been named Chief Financial Officer, and Kevin Pohlman, most recently President of Patterson Animal Health, has been named Chief Operating Officer.
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U.S. Weekly Jobless Claims Unexpectedly Dip To 211,000
A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits unexpectedly edged lower in the week ended December 10th. The Labor Department said initial jobless claims slipped to 211,000, a decrease of 20,000 from the previous week's revised level of 231,000.
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McDonald's Inks Virtual Power Purchase Agreements For 189 MW From Enel's Blue Jay Solar
McDonald's Corp. (MCD) and all five members of the restaurant chain's North American Logistics Council (NALC) - Armada, Earp Distribution, Martin Brower, Mile Hi Foods and The Anderson-DuBose Company - announced Thursday they have signed agreements with Enel North America to purchase renewable energy and the associated renewable energy certificates (RECs) from Enel Green Power's Blue Jay solar project in Grimes County, Texas.
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ECB Slows Rate Hikes, Signals More Tightening Amid Eurozone Recession
The European Central Bank slowed the pace of its interest rate hikes, as expected, but said there is a need for significant tightening in future as it markedly lifted the euro area inflation forecast and projected a recession for the single currency bloc during the first half of next year. The central bank also revealed its initial plans to trim its portfolio.
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New York Manufacturing Index Slumps Much More Than Expected In December
The Federal Reserve Bank of New York released a report on Thursday showing a contraction n regional manufacturing activity in the month of December.
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European Stocks Drifting Lower As Central Banks Hike Interest Rates
European stocks are down firmly in negative territory in early afternoon trades on Thursday, reacting to the Federal Reserve's hawkish comments, and policy decisions from the European Central Bank (ECB), the Bank of England (BoE) and the Swiss National Bank.
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Philly Fed Index Indicates Slower Contraction In December
Philadelphia-area manufacturing activity contracted at a slower rate in the month of December, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday.
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Meta Platforms Partners Silicon Ranch For Seven New Solar Projects In Georgia And Tennessee
Meta Platforms, Inc. (META) announced Thursday seven new solar projects in Georgia and Tennessee totaling 720 megawatts (MWAC) to support its regional operations with 100% renewable energy.
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