European Economic News Preview: Eurozone Final Inflation Data Due

Denver traffic: Hit and run at 9th and Lincoln injures pedestrian, forces partial closure

Denver police are investigating a hit-and-run crash that left one pedestrian injured and forced partial closure of Lincoln Avenue, delaying traffic Friday morning.

Police said in a Twitter posting that three vehicles were involved in the crash at 9th and Lincoln.

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Chinese President To Meet Putin In Moscow Next Week

Chinese President Xi Jinping will meet his Russian counterpart Vladimir Putin in Moscow next week to hold talks aimed at strengthenening the relationship between the two major powers.

The Kremlin said the two leaders would discuss a “comprehensive partnership and strategic co-operation”.

The visit, which will be the first by the Chinese leader to Russia since Putin’s forces attacked Ukraine more than a year ago, is seen as a powerful show of Beijing’s support for Moscow.

Xi has emerged more powerful with his election as President for an unprecedented third term.

The summit was announced by Beijing and the Kremlin Friday.

China’s Foreign Ministry said the three-day visit, at the invitation of Putin, will kick off Monday an that the focus of the talks would be the war in Ukraine.

“China’s proposition boils down to one sentence, which is to urge peace and promote talks,” foreign ministry spokesman Wang Wenbin told reporters.

The two sides will sign a number of “important bilateral documents”, according to the Kremlin.

The West did not yield to Beijing’s proposal to intervene to end the war.

FedEx Climbs After Lifting Full Year Earnings Forecast

FedEx Corp. (FDX) shares are progressing more than 8 percent on Friday morning trade after the company raised its earnings forecast for the full year. Reports said that the company is planning to recover inflation through cost-cutting. The shares have been on an uptrend since March 15.

Looking ahead to the fiscal year the company expects earnings in a range of $13.80-$14.40 per share, up from its previous forecast was $12.50 – $13.50 per share.

Currently, shares are at $219.71, up 7.73 percent from the previous close of $204.05 on a volume of 4,219,863.

Sarepta Falls On FDA's Surprise Decision To Convene Advisory Committee Meeting For SRP – 9001

Sarepta Therapeutics, Inc. (SRPT) shares are sliding more than 19 percent on Friday morning trade after FDA decided for a surprise advisory committee meeting to be held for SRP-9001 in advance of the May 29, 2023, regulatory action date. SRP-9001 is an investigational gene therapy for the treatment of ambulant individuals with Duchenne muscular dystrophy. Sarepta’s Biologics License Application for accelerated approval of SRP-9001 has been under priority review, with a decision due on May 29.

Doug Ingram CEO of Sarepta, “we are disappointed that we must communicate a change in decision…” However, he said the company had been preparing for an advisory committee meeting in the fall of 2022.

Currently, shares are at $120.81, down 19.28 percent from the previous close of $149.67 on a volume of 2,181,618.

This Carrot Cake Doesn’t Require Any Grating (Really!)

Bolo de cenoura comes together quickly in a blender and makes an unforgettable afternoon snack, Yewande Komolafe writes.

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By Yewande Komolafe

Oil Futures Settle Sharply Lower

Crude oil prices tumbled on Friday as rising concerns about the crisis in the banking sector continued to fuel worries about economic growth and the outlook for energy demand.

West Texas Intermediate Crude oil futures for April ended lower by $1.61 or about 2.4% at $66.74 a barrel, recovering a bit after falling to $65.17, a 15-month low. WTI crude futures shed about 13% in the week.

Brent crude futures were down $1.98 or 2.65% at $72.72 a barrel a little while ago.

Edward Moya, Chief Financial Analyst at OANDA says “energy traders are not sure what could be the catalyst to send oil prices higher given all the doom and gloom happening with short-term crude demand outlooks.”

“For now oil will reman heavy as traders try to figure out what type of recession policymakers will trigger in the U.S.,” adds Moya.

Opinion | What Liberal Catholicism Gets Right

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By Ross Douthat

Opinion Columnist

European Economic News Preview: Eurozone Final Inflation Data Due

Final consumer prices from the euro area and monetary policy decision from Russia are the major economic news due on Friday.

At 3.00 am ET, unemployment data from Sweden is due.

At 5.00 am ET, Italy’s Istat is set to issue foreign trade data for January. The trade surplus totaled EUR 1.067 billion in December.

At 5.30 am ET, the Bank of England/Ipsos Inflation Attitudes Survey results are due.

At 6.00 am ET, Eurostat releases euro area final consumer prices data. The statistical office is expected to confirm the flash inflation estimate of 8.5 percent in February, down from 8.6 percent in January.

Half an hour later, Russia’s central bank announces its monetary policy decision. Economists expect the bank to hold its key rate at 7.50 percent.