By James Glynn
SYDNEY–Australia’s job market buckled in August as the impact of lengthening lockdowns took a toll on hiring.
Job ads dropped 2.5% in August, following a downwardly revised 1.3% fall in July, according to the ANZ Bank’s job ads survey.
However, job ads are still more than a quarter above their pre-pandemic level and holding up much better than during the national lockdown last year, ANZ senior economist Catherine Birch said.
The cumulative 3.7% fall in job ads over the past two months was miniscule compared with the 64% plunge last year during the national lockdown, Ms. Birch said.
That is also in line with other key indicators such as consumer confidence, which has fallen but is still well above the lows of 2020, she added.
Still, it is likely that job ads will decline further over coming months, and ANZ expects sizable employment losses in locked-down areas, with the national unemployment rate set to rise back above 5%.
Best Bank Stocks To Own For 2023: Ampco-Pittsburgh Corporation(AP)
Ampco-Pittsburgh Corporation and its subsidiaries manufacture and sell custom-engineered equipment in the United States and internationally. It operates in two segments, Forged and Cast Rolls, and Air and Liquid Processing. The Forged and Cast Rolls segment produces forged hardened steel rolls used in cold rolling for the producers of steel, aluminum, and other metals; and cast iron and steel rolls for hot and cold strip mills, medium/heavy section mills, and plate mills. The Air and Liquid Processing segment manufactures finned tube and plate finned heat exchange coils for the commercial and industrial construction, as well as for process and utility industries; custom air handling systems used in commercial, institutional, and industrial buildings; and a line of centrifugal pumps for the refrigeration, power generation, and marine defense industries. The company was founded in 1929 and is based in Pittsburgh, Pennsylvania.
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Stephen Moore and Herman Cain in Washington on Aug. 31, 2016, and June 20, 2014, respectively. (Photo: AP)
Why are critics of Moore and Cain saying they are ill-suited for nonpartisan roles?
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The front page of the Jan. 28, 2019, edition of the National Enquirer featuring a story about Amazon founder and CEO Jeff Bezos' divorce. (Photo: AP)
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Kraft Heinz disclosed it has received a subpoena from the SEC as part of an investigation into the company's procurement accounting policies. (Photo11: AP)
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This Jan. 19, 1931 file photo shows Chicago mobster Al Capone at a football game. (Photo: AP)
Follow Josh Hafner on Twitter: @joshhafner
Best Bank Stocks To Own For 2023: Wells Fargo & Company(WFC)
Wells Fargo & Company, through its subsidiaries, provides retail, commercial, and corporate banking services primarily in the United States. The company operates in three segments: Community Banking; Wholesale Banking; and Wealth, Brokerage, and Retirement. The Community Banking segment offers deposits, including checking, market rate, and individual retirement accounts; savings and time deposits; and debit cards. Its loan products comprise lines of credit, auto floor plans, equity lines and loans, equipment and transportation loans, education loans, residential mortgage loans, health savings accounts, and credit cards. This segment also provides equipment leases, real estate financing, small business administration financing, venture capital financing, cash management, payroll services, retirement plans, loans secured by autos, and merchant payment processing services; purchases sales finance contracts from retail merchants; and a family of funds, and investment managemen t services. The Wholesale Banking segment offers commercial and corporate banking products and services, including commercial loans and lines of credit, letters of credit, asset-based lending, equipment leasing, international trade facilities, trade financing, collection services, foreign exchange services, treasury and investment management, institutional fixed-income sales, commodity and equity risk management, insurance, corporate trust fiduciary and agency services, and investment banking services. This segment also provides banking products for commercial real estate market, and real estate and mortgage brokerage services. The Wealth, Brokerage, and Retirement segment offers financial advisory, brokerage, and institutional retirement and trust services. As of December 31, 2010, the company served its customers through approximately 9,000 banking stores in 39 States and the District of Columbia. Wells Fargo & Company was founded in 1929 and is headquartered in San Franci sco, California.
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Among the few bright spots, according to Cramer, was Wells Fargo (WFC) – Get Wells Fargo & Company Report, which ended the day up 3.2% despite being fined an additional $250 million for its past indiscretions. Cramer said the fine, while huge, was less than many investors had feared.
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Morningstar categorizes Fidelity Dividend Growth as a U.S. large value fund, and its top positions do include the likes of JPMorgan Chase (JPM), Wells Fargo (WFC) and Bank of America (BAC) from the value-oriented financial sector. Also included among its 10 largest holdings are some familiar growth names, such as Microsoft, Apple and Walt Disney (DIS). The fund's emphasis on dividends and value provides a degree of diversification, as value funds and growth funds each tend to go through periods of outperformance relative to each other.
Best Bank Stocks To Own For 2023: Canadian Imperial Bank of Commerce(CM)
Canadian Imperial Bank of Commerce provides various financial products, services, and advice to individual, small business, commercial, corporate, and institutional clients in Canada and internationally. The company offers retail markets services comprising personal banking, business banking, and wealth management services, as well as investment management services to retail and institutional clients. It also provides wholesale banking services, including credit, capital markets, investment banking, merchant banking, and research products and services to government, institutional, corporate, and retail clients. The company provides its services through its branch network, automated bank machines, mobile banking, and online banking site. As of June 3, 2011, it operated approximately 1,100 branches and 4,000 automated bank machines in Canada. The company was founded in 1867 and is headquartered in Toronto, Canada.
- [By Ethan Ryder]
Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) saw unusually large options trading activity on Monday. Traders acquired 2,517 call options on the stock. This is an increase of approximately 3,772% compared to the typical volume of 65 call options.
- [By Motley Fool Transcribing]
Canadian Imperial Bank of Commerce (NYSE:CM) Q1 2019 Earnings Conference CallFeb. 28, 2019 8:00 a.m. ET
Prepared Remarks Questions and Answers Call Participants
Best Bank Stocks To Own For 2023: HSBC Holdings PLC (HSBA)
HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through approximately four businesses, such as Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). The Company operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America. The Company’s RBWM business offers a range of personal banking and wealth management services to its customers. The Company’s CMB business offers a range of products and services to its commercial customers, including small and medium-sized enterprises, and mid-market enterprises. The Company’s GB&M business provides financial solutions to government, corporate and institutional clients and private investors across the world. The Company’s GPB’s products and services include Investment Management and Private Wealth Solutions. Advisors’ Opinion:
- [By Max Byerly]
HSBC (LON:HSBA) was upgraded by equities research analysts at Credit Suisse Group to a “neutral” rating in a research report issued to clients and investors on Thursday. The firm presently has a GBX 720 ($9.38) target price on the financial services provider’s stock, up from their previous target price of GBX 680 ($8.86). Credit Suisse Group’s price target suggests a potential upside of 5.82% from the company’s previous close.
- [By Max Byerly]
HSBC Holdings plc (LON:HSBA) has received an average recommendation of “Hold” from the sixteen analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is GBX 768.33 ($9.80).
- [By Stephan Byrd]
Morgan Stanley set a GBX 855 ($10.91) price target on HSBC (LON:HSBA) in a research note issued to investors on Tuesday. The brokerage currently has a buy rating on the financial services provider’s stock.
- [By Max Byerly]
Credit Suisse Group set a GBX 720 ($9.32) price target on HSBC (LON:HSBA) in a research report sent to investors on Tuesday morning. The firm currently has a neutral rating on the financial services provider’s stock.