By Niket Nishant and Matt Scuffham (Reuters) -Goldman Sachs Group Inc reported a 43% drop in profit but beat Wall Street expectations on Friday, as strong performances in its wealth management and trading businesses partly offset a slump in equity underwriting as stock market listings dried up. Wall Street banks have come under pressure amid…
WASHINGTON (AP) — The head of the International Monetary Fund warned Thursday that Russia’s war against Ukraine was weakening the economic prospects for most of the world’s countries and called high inflation “a clear and present danger’’ to the global economy. IMF Managing Director Kristalina Georgieva said the consequences of Russia’s invasion were contributing to…
WASHINGTON (Reuters) – U.S. retail sales increased in March, mostly boosted by higher gasoline and food prices, but consumers are showing signs of cutting back on discretionary spending amid high inflation. Retail sales rose 0.5% last month, the Commerce Department said on Thursday. Data for February was revised higher to show sales gaining 0.8% instead…
ANKARA, Turkey (AP) — Turkey’s central bank on Thursday kept its main interest rate unchanged for a fourth month even as surging inflation has hit a 20-year high and eroded people’s purchasing power. In a statement following a monetary policy committee meeting, the bank said it was keeping its policy rate “constant” at 14%. The…
WASHINGTON (AP) — The number of people seeking unemployment benefits ticked up last week but remained at a historically low level, reflecting a robust U.S. labor market with near record-high job openings and few layoffs. Jobless claims rose by 18,000 to 185,000, the Labor Department said Thursday, after nearly touching the lowest level since 1968…
LONDON (Reuters) -Billionaire Elon Musk has offered to buy Twitter for about $41 billion, just days after rejecting a seat on the social media company’s board. Musk’s offer price of $54.20 per share, which was disclosed in a regulatory filing on Thursday, represents a 38% premium to Twitter’s April 1 close, the last trading day…
(Reuters) -Goldman Sachs Group Inc reported first-quarter profit that nearly halved on Thursday, as capital markets activity normalized from bumper levels a year ago, weighing on the bank’s investment banking business. With the U.S. Federal Reserve beginning to wean the economy off pandemic-era support, dealmaking slowed in the quarter and cast a pall over some…
BEIJING (AP) — Anti-virus controls that have shut down some of China’s biggest cities and fueled public irritation are spreading as infections rise, hurting a weak economy and prompting warnings of possible global shockwaves. Shanghai is easing rules that confined most of its 25 million people to their homes after complaints they had trouble getting…
By Gram Slattery RIO DE JANEIRO (Reuters) – Shareholders in Brazil’s Petrobras have voted José Mauro Coelho onto its board, paving the way for the government technocrat to take the helm of the state-run oil company. The key issue at the Petrobras annual shareholder meeting, which began on Wednesday afternoon and concluded early on Thursday,…
By Xie Yu HONG KONG (Reuters) – UBS Group AG has appointed a new manager to oversee a $2 billion Asian high yield fund, the Swiss bank said in a statement, after a five-month hiatus in top leadership at the fund that was hit hard by China’s property sector debt crisis. Raymond Lin Gui will…
