Markets

Greetings from Park City, Utah, where I have just had the privilege of participating in the Sundance Film Festival. This is a place that has launched numerous documentaries that have focused on environmental and social issues, be that Al Gore’s An Inconvenient Truth (2006), The…

Chevron announced record earnings for 2022 but its fourth-quarter profits slipped from previous months in a sign that Big Oil’s cash surge is cooling after fossil fuel prices retreated from near all-time highs in the wake of Russia’s invasion of Ukraine.The US oil supermajor’s fourth-quarter…

We try to avoid politics around here (except when it’s an excuse to, say, estimate the market price of a politician’s dignity). But occasionally it veers into areas closer to FT Alphaville’s spleen and we just can’t help ourselves.Here is the text of an actual…

Jay Newman was a senior portfolio manager at Elliott Management and is author of the finance thriller Undermoney. Benjamin Heller is a portfolio manager at HBK Capital Management, specialising in emerging markets.The world of distressed sovereign debt seems to attract bad ideas like no other,…

Good morning. Sherwin-Williams (a paint company) joined the bad guidance gang yesterday: it said 2023 sales will be flat to down. The stock fell nearly 9 per cent. Not every cyclical stock is providing negative surprises, of course. Seagate (computer memory) surprised to the upside,…

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