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Finance & Markets

BYD Short Sellers Retreat Ahead of Expected Profit Rebound

Short sellers are paring back bets against BYD Co. ahead of earnings, with the Chinese electric vehicle giant poised to post a rebound in profit helped by accelerating overseas sales and a domestic market recovery.

We haven't written up this one. Bloomberg has the full story — the link below goes straight to it.

Read the original at bloomberg.com →

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Consumers shrug off RBA

Westpac’s credit card tracker is powering. The Westpac–DataX Card Tracker Index* has edged down slightly since late September, slipping 0.9pts to 160.6 in the week ended October 17.

Microsoft beats cloud revenue, sales estimates

Microsoft on Wednesday forecast fiscal second-quarter cloud growth and overall sales that beat Wall Street estimates, sending shares up more than 5 percent in after-hours trading.

  • Microsoft exceeded cloud revenue forecasts by $18.6 billion
  • Azure growth projected at 49-50% in second quarter
  • Shares rose 5% in after-hours trading following strong results

Fed leaves rates unchanged

WASHINGTON: The Federal Reserve held interest rates steady on Wednesday, as expected, opting to delay any changes to borrowing costs until after next week’s US midterm elections and awaiting further…

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