News

Spanish Inflation Jumps to Most Since August on Base Effects

(Bloomberg) -- Spanish inflation quickened to the fastest pace since August, though the acceleration was driven by base effects and is unlikely to scupper plans for the European Central Bank to continue lowering interest rates.Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasConsumer prices advanced 2.4% from a year ago in November, according to natio

Pony AI fetches $5.25 billion valuation as shares jump 15% in Nasdaq debut

The IPO comes after nearly two years of uncertainty sparked by Didi Global's delisting, which was followed by a long-standing audit dispute between Beijing and the U.S. that was eventually resolved in December 2022. Pony AI Chief Executive Officer James Peng said President-elect Donald Trump's return to the White House did not influence the timing of the listing. However, the company faces other challenges, including public skepticism about autonomous vehicles, data privacy concerns, and competition from companies, including Elon Musk's Tesla, which has promised to roll out driverless ride-hailing services to the public in California and Texas next year.

Turkey Said to See Fewer Lira Interventions as Inflation Slows

(Bloomberg) -- A senior Turkish central banker told international investors this week that authorities expect to intervene less in the foreign-exchange market over time, according to people familiar with the discussions.Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn meetings in London, Deputy Governor Cevdet Akcay said he expects improving inflat

Nordstrom Q3 Sales Grow, But Analysts Remain Cautious On Stock Amid Slowing Sales And Elevated Inventory

Nordstrom, Inc. (NYSE:JWN) shares are trading lower on Wednesday. For the third quarter, the company’s net sales increased 4.6% compared to the same period in fiscal 2023, total company comparable sales increased 4.0%, and gross merchandise value increased 5.3%. JP Morgan analyst Matthew R. Boss reiterated the Underweight rating on the stock, raising the price forecast to $21 from $20. The analyst notes that despite favorable conditions for Nordstorm’s core customer base, including high personal