MILAN (Reuters) -French bank Credit Agricole said on Thursday it has bought a 9.2% stake in Italy’s third-largest bank, Banco BPM. Banco BPM has long been searching for a merger partner and held discussions with Credit Agricole back in 2020 which led nowhere. Italy’s No.2 bank UniCredit had also readied a takeover bid for Banco…
By David Morgan (Reuters) – President Joe Biden’s nominees to the Federal Reserve moved a step closer to confirmation Thursday after U.S. Senate Majority Leader Chuck Schumer entered procedural motions for two of them, setting up for a potential vote after lawmakers return from Easter Break on April 25. The filing of the motions on…
McDonald’s investors will consider a proposal for a civil rights audit of the company after the federal government denied McDonald’s request to remove the proposal from the agenda at its annual meeting. SOC Investment Group, a shareholder advocacy group that supports union pension funds, submitted the proposal for a vote at McDonald’s annual meeting. The…
By Tim Hepher LONDON (Reuters) -Qatar Airways and Airbus clashed in court on Thursday over the fate of billions of dollars of jet orders as their 25-year partnership unravelled in scenes resembling a corporate divorce trial. The two sides have been locked for months in a dispute over damaged lightning protection within the painted skin…
By Lisa Baertlein and Arriana McLymore LOS ANGELES (Reuters) – Walmart said it is boosting starting pay for its 12,000 long-haul truck drivers who deliver merchandise to its stores and Sam’s Clubs locations amid a U.S. shortage of drivers that threatens to prolong supply chain snarls and merchandise shortages. Qualified drivers — who tend to…
By Laura Sanicola (Reuters) -Oil settled lower on Thursday, adding to weekly losses on uncertainty that the euro zone will be able to effectively sanction Russian energy exports and after consuming nations announced a huge release of oil from emergency reserves. Prices were also pressured by fears that lockdowns in China due to a new…
WASHINGTON (AP) — As the Federal Reserve intensifies its efforts to tame high inflation, its top officials are casting their aggressive drive in a new light: As a blow against economic inequality. That thinking marks a sharp reversal from the conventional view of the Fed’s use of interest rates. Normally, the steep rate hikes the…
By Patricia Zengerle WASHINGTON (Reuters) -The U.S. Congress voted to impose further economic pain on Russia over the invasion of Ukraine on Thursday, passing one measure to remove its “most favored nation” trade status and another to ban oil imports. The Senate voted 100-0 in favor of the measure removing Permanent Normal Trade Relations (PNTR)…
PARIS (AP) — The International Energy Agency said Thursday that its member countries are releasing 60 million barrels of oil from their emergency reserves on top of previous U.S. pledges to take aim at energy prices that have soared since Russia invaded Ukraine. The Paris-based organization says the new commitments made by its 31 member…
By Bansari Mayur Kamdar and Noel Randewich (Reuters) – Wall Street was mixed on Thursday, with Amazon and Nvidia weighing on the Nasdaq and Pfizer lifting the S&P 500 as investors eyed the war in Ukraine and a potentially more aggressive Federal Reserve. The tech-heavy Nasdaq fared worst among the three main indexes, extending a…
