Steve Rappaport, Finma, Brian Cornell discussed on Bloomberg Surveillance


I'm Steve rappaport. Target's latest earnings beat Wall Street expectations, but its forecast was not so great. Bloomberg's genus survey reports. Target is predicting a slower than expected recovery from a rough 2022. Last year, weakening demand for non-essential hit the retailer's profits and its stock, the subdued outlook echoes the message from Walmart last week showing U.S. retailers remain cautious amid a cloudy economic picture, but similar to Walmart targets cautious outlook followed a strong fourth quarter. The retailers key sales metric rose in the quarter, analysts were looking for a decline. Target CEO Brian Cornell says they're planning business cautiously in the near term to ensure the company remains agile and responsive to the current operating environment. Switzerland's banking regulator says Credit Suisse seriously breached risk management obligations in the greensill capital supply chain financing case. Finma ordered the Swiss lender to take remedial measures, including a periodic review of the most important business relationships for counterparty risks. Finma also announced its opening enforcement proceedings against four former Credit Suisse managers. Visa and Mastercard planned to defer the launch of some cryptocurrency products and services. Reuters reports the company's decided to hold off until market conditions and the regulatory environment improve. Elon Musk reclaims the coveted title of the world's richest person, the Tesla CEO's wealth got a big boost from a surge in Tesla stock, Musk started the year with a net worth of $137 billion, becoming the first person to lose $200 billion from their fortune. Those are the company's stories we're following this hour, I'm Steve rappaport, and this is Bloomberg. This is Bloomberg markets with Paul Sweeney and Matt Miller on Bloomberg radio. All right, listening to Bloomberg markets, Paul swinney met Miller in a Bloomberg interactive brokers studio here in New York City markets a little bit red here. We got the S&P 500 off about two tenths of 1%, the Dow off a little bit more about 6 tenths of 1%. Let's get the latest on world and national news right now in Washington D.C. with Nathan Hager. Now there have been demonstrations

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