WALL STREET BUSINESS REPORT 2-21

WALL STREET BUSINESS REPORT 2-21

WALL STREET BUSINESS REPORT 2-20

WALL STREET BUSINESS REPORT 2-20

WALL STREET BUSINESS REPORT 2-19

WALL STREET BUSINESS REPORT 2-19

WALL STREET BUSINESS REPORT 2-16

WALL STREET BUSINESS REPORT 2-16

WALL STREET BUSINESS REPORT 2-15

WALL STREET BUSINESS REPORT 2-15

WALL STREET BUSINESS REPORT 2-14

WALL STREET BUSINESS REPORT 2-14

WALL STREET BUSINESS REPORT 2-13

WALL STREET BUSINESS REPORT 2-13

WALL STREET BUSINESS REPORT 2-12

WALL STREET BUSINESS REPORT 2-12

WALL STREET BUSINESS REPORT 2-9

WALL STREET BUSINESS REPORT 2-9

WALL STREET BUSINESS REPORT 2-8

WALL STREET BUSINESS REPORT 2-7

WALL STREET BUSINESS REPORT 2-7

UBS reports pretax loss in 4Q, plans share buybacks

UBS has reported a fourth-quarter pretax loss of more than $750 million. The loss comes as the Swiss banking giant continues to integrate its longtime rival Credit Suisse after a government-orchestrated merger. The Zurich-based lender reported losses before taxes of $751 million in the quarter. That included losses of more than a half-billion dollars linked to an investment in SIX Group, which operates Switzerland’s main stock market.

BP earned $3 billion at end of 2023, but annual profit fell sharply

Oil and natural gas giant BP has beat expectations with earnings of $3 billion in the last three months of 2023. London-based BP reports its underlying replacement cost profit is down from $3.3 billion in the previous quarter. It brought in $13.8 billion for all of last year, halving the $27.7 billion it earned in 2022, when Russia’s war in Ukraine sent oil and natural gas prices surging. Those prices drove inflation and contributed to a cost-of-living crisis.

WALL STREET BUSINESS REPORT 2-6

WALL STREET BUSINESS REPORT 2-6

WALL STREET BUSINESS REPORT 2-5

WALL STREET BUSINESS REPORT 2-5

Apple Vision Pro Headset Hits Store Shelves

That means you’re probably going to start to see more people wearing the futuristic googles that are supposed to usher in the age of “spatial computing.” It’s an esoteric mode of technology that Apple executives and their marketing gurus are trying to thrust into the mainstream. This while avoiding other more widely used terms such as “augmented reality” and “virtual reality” to describe the transformative powers of a product that’s being touted as a tipping point that could become as monumental as the changes wrought after the iPhone came out in 2007.

WALL STREET BUSINESS REPORT 2-2

WALL STREET BUSINESS REPORT 2-2

WALL STREET BUSINESS REPORT 2-1

WALL STREET BUSINESS REPORT 2-1

WALL STREET BUSINESS REPORT 1-31

WALL STREET BUSINESS REPORT 1-31

WALL STREET BUSINESS REPORT 1-30

WALL STREET BUSINESS REPORT 1-30

WALL STREET BUSINESS REPORT 1-29

WALL STREET BUSINESS REPORT 1-20

WALL STREET BUSINESS REPORT 1-27

WALL STREET BUSINESS REPORT 1-27

More Americans File For Jobless Benefits

The Labor Department says applications for unemployment benefits rose to 214,000 for the week ending Jan. 20, an increase of 25,000 from the previous week. Overall, 1.83 million Americans were collecting jobless benefits during the week that ended Jan. 13. That’s an increase of 27,000 from the previous week. Weekly unemployment claims are viewed as representative for the number of U.S. layoffs in a given week.

GDP Sees 3.3% Growth In Fourth Quarter

The nation’s economy grew at an unexpectedly brisk pace of 3.3% in the FOURTH quarter of 2023. Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. The GDP decelerated from its sizzling 4.9% annual growth rate the previous quarter. But the latest figures mark the sixth straight quarter in which GDP has grown at an annual pace of 2% or more. For all of 2023, the economy grew 2.5%, up from 1.9% in 2022.