News

Swiss National Bank continued to lower interest rates in March, while highlighting that external geopolitical risks could still be a threat to the Swiss economy and exports.View on euronews

(Reuters) -Consultancy firm Accenture said on Thursday the Trump administration's efforts to reduce federal spending have led to delays and cancellations of new contracts, sending the company's shares down more than 6%. The new U.S. administration and its Department of Government Efficiency (DOGE), led by billionaire Elon Musk, have been implementing measures to slash spending and reduce the size of the federal workforce. Accenture said its federal services unit is facing a slowdown as the U.S. General Services Administration instructed all federal agencies to review their contracts with consulting firms and cancel contracts that are not essential.

Footwear retailer Shoe Carnival (NASDAQ:SCVL) fell short of the market’s revenue expectations in Q4 CY2024, with sales falling 6.1% year on year to $262.9 million. The company’s full-year revenue guidance of $1.19 billion at the midpoint came in 5.2% below analysts’ estimates. Its GAAP profit of $0.53 per share was 15.2% above analysts’ consensus estimates.

Tesla has at least one Wall Street supporter left.

(Bloomberg) -- Turkish markets showed signs of stabilizing on Thursday, as authorities took action to offset any spikes in demand for dollars following the shock detention of President Recep Tayyip Erdogan’s main political rival.Most Read from BloombergAmtrak CEO Departs Amid Threats of a Transit Funding PullbackNew York Subway Ditches MetroCard After 32 Years for Tap-And-GoDespite Cost-Cutting Moves, Trump Plans to Remake DC in His StyleNYC Plans for Flood Protection Without Federal FundsA Mali

(Reuters) -U.S. stock indexes recouped some of the early losses on Thursday, as investors digested the Federal Reserve outlook on interest rates amid persistent tariff worries. Traders looked to build on the previous session's gains after a massive sell-off in recent weeks due to the uncertainty tied to President Donald Trump's trade policies. The Fed maintained current interest rates on Wednesday as expected and reaffirmed its forecast for two 25 basis point reductions by the end of year.

Powell takes lessons from the pandemic and the vibecession in waiting for clarity.