U.S. stocks were heading lower on Thursday, as uncertainty surrounding when the fighting in the Middle East might ultimately end was still hanging over the market. ...

Core Viewpoint - Heinz Wattie's, part of The Kraft Heinz Company, is planning to close several factories in New Zealand, potentially affecting around 350 jobs, as reported by a local union [1][2]. Group 1: Factory Closures and Job Impact - The proposed closures will end the production of Wattie's frozen vegetables and other products, including coffee and dips under various brands [2]. - The local trade union E tū expressed that the closures would have a devastating impact on employees, many of whom are nearing retirement and facing financial difficulties [3]. Group 2: Company Statements and Financial Performance - Heinz Wattie's managing director stated that the decision to close factories was not made lightly and followed the exploration of numerous alternatives [3]. - The company cited increasingly difficult operating conditions in New Zealand, compounded by global high inflation and industry challenges, as factors influencing the decision [4]. - Financial records indicate that HJ Heinz Company (New Zealand) has been loss-making for the past three years, reporting a NZ$187.8 million (approximately $111.1 million) loss for the year ending December 28, 2024, compared to losses of NZ$51.8 million in 2023 and NZ$54.1 million in 2022 [5].

Core Viewpoint - Santander's executive chair Ana Botin received a total compensation of 18.54 million euros in 2025, marking a 34.6% increase from 2024's 13.77 million euros, as reported in the bank's annual report [1][2]. Group 1: Compensation Details - Botin's remuneration includes 8.311 million euros in shares or financial instruments, with nearly half attributed to a 126% increase in the bank's stock value last year [3]. - The total compensation also comprises a cash bonus of 4.264 million euros, 2.533 million euros in other remuneration, and a salary of 3.435 million euros [3]. Group 2: Financial Performance - Santander reported a record net profit of 14.1 billion euros in 2025, which contributed to the increase in Botin's compensation [2]. - The bank has raised its profit target for 2028 to above 20 billion euros, indicating strong future growth expectations [3].

By Michael S. Derby NEW YORK, Feb 25 (Reuters) - Federal Reserve Bank of Kansas City President Jeffrey Schmid said on ‌Wednesday that overly high inflation remains a key problem ‌the central bank needs to address, but he stopped short of saying how ​monetary policy should respond. “I think we have work to do on the inflation side of things,” while “I think we're in a pretty good place for employment,” Schmid said in an appearance before the ‌Economic Club of Colorado. The ⁠bank president did not, howe ...

Core Viewpoint - Jeff Gundlach, CEO of DoubleLine Capital, is advising investors to avoid US markets due to concerns over inflation and a weakening US dollar [1][3][5]. Inflation Concerns - Inflation is currently running at approximately 3% annually, exceeding the Federal Reserve's target of 2%, which Gundlach estimates could lead to a 56% increase in consumer prices over 15 years compared to a 2% inflation rate [1]. Interest Rate Risks - There is a concern that if the Federal Reserve cuts interest rates below the inflation rate, it could exacerbate price growth, particularly if influenced by political pressures [2]. US Dollar Weakness - The US dollar is no longer perceived as a safe-haven asset, with the US Dollar Index declining around 10% over the past year, indicating a loss of confidence in dollar-denominated assets [3][4]. Investment Recommendations 1. **Non-Dollar Stocks** - Gundlach recommends investing 30%-40% of portfolios in non-US markets, particularly in emerging markets, which have outperformed US markets with the iShares MSCI Emerging Markets ETF up 42% in the last year compared to a 15% gain in the S&P 500 [6]. 2. **Bonds** - Gundlach favors short-term bonds, suggesting that risks in the public bond market have been absorbed by the private credit market, while expressing bearish views on long-term bonds due to rising yields linked to inflation and deficits [7][8][9]. 3. **Precious Metals and Commodities** - Gold and silver are highlighted as good shelter assets, with gold up 99% and silver up 284% over the past year, reflecting a growing interest in hard assets as the dollar weakens [10][11].

Group 1 - Nexo is acquiring Buenbit, an Argentine trading platform, to expand its growth in Latin America [1][2] - Buenbit operates in Argentina and Peru, serving over 1 million clients and is registered with Argentina's securities regulator [2] - Nexo plans to develop Buenos Aires as a regional hub for partnerships and investments in Argentina, Peru, and Mexico as part of its multi-year strategy [3] Group 2 - Argentines are increasingly using digital currencies as a hedge against high inflation, which has decreased from previously high levels [3] - The central bank of Argentina is considering allowing traditional banks to trade cryptocurrencies, indicating a potential shift in regulatory stance [3]

Market Overview - Financial markets experienced volatility, starting strong but ending with uncertainty due to geopolitical tensions and regional bank issues [1] - The US dollar initially strengthened but softened after dovish signals from the Federal Reserve, while safe havens like the Japanese yen and Swiss franc saw inflows during market stress [2] Federal Reserve Insights - FED Chair Jerome Powell highlighted increased downside risks to employment and evidence of labor market cooling, despite delays in official data due to the government shutdown [3] - Powell maintained that long-term inflation expectations align with the 2% target and indicated the possibility of a quarter-point rate cut at the upcoming meeting [4] - He acknowledged that the Fed may halt quantitative tightening soon, with the balance sheet expected to remain larger than pre-pandemic levels due to higher demand for reserves [4] Currency Pairs Analysis - AUD/JPY has shown signs of bullish movement after finding support at previous levels, with a short-term target set around 102 [5][6] - The British pound has gained strength against most currencies, with a focus on its sustained range against SGD and potential breakout towards 1.76 [7][10] Economic Indicators - Canadian inflation has declined to approximately 3%, while UK inflation is expected to rise to 4%, influencing the strength of the pound and the Bank of England's rate decisions [11]

Core Insights - Americans are increasingly pessimistic about job prospects, as indicated by a recent survey [1] - Persistent inflation continues to frustrate consumers, leading to a lack of confidence in economic improvement [1] Group 1: Job Market Sentiment - The survey reveals a growing disillusionment among Americans regarding the availability of new jobs [1] - This sentiment reflects broader concerns about economic stability and growth [1] Group 2: Inflation Impact - Ongoing inflation is a significant source of frustration for consumers, impacting their overall economic outlook [1] - The combination of job market pessimism and inflation contributes to a general lack of confidence in the economy's future [1]