By Chris Prentice and Tom Wilson WASHINGTON/LONDON (Reuters) -The U.S. dollar touched its highest level since 2002 on Thursday, as Wall Street rose and European shares moved off six-week lows as strong earnings reports offset gloomy U.S. economic data. The yen dropped to a 20-year low after the Bank of Japan vowed to buy unlimited…
WASHINGTON (AP) — The average long-term U.S. mortgage rate edged down for the first time in two months following a swift ascent to levels that have not been seen in more than a decade. After seven weeks of increases, the average rate on a 30-year mortgage inched down to 5.1% from 5.11% last week, mortgage…
We enter the heart of Q1 earnings season with the VIX trading above 30. The combination of headline noise with skittish market sentiment sets up for volatile price action. Tracking the winners and losers can be difficult as price action will not necessarily match fundamentals. We want to break down some key earnings and price…
(Reuters) – French construction materials group Saint-Gobain on Thursday posted record first-quarter sales but flagged the higher impact of energy and raw material costs in 2022 amid a challenging geopolitical situation and supply chain issues. Saint-Gobain, which manufactures and distributes materials in sectors ranging from automotive to health, security, and food and beverages, also confirmed…
By Chris Prentice WASHINGTON (Reuters) -The U.S. Securities and Exchange Commission (SEC) on Thursday sued Brazilian miner Vale SA for allegedly making false and misleading disclosures about the safety of its dams ahead of a 2019 disaster that killed 270 people. Beginning in 2016, Vale manipulated dam safety audits, obtained fraudulent stability certificates and misled…
(Reuters) -Europe’s biggest hotel group Accor said on Thursday it expected domestic demand to return to levels comparable to 2019 by the end of the year after reporting a jump in first-quarter revenue. The global travel and hospitality industry is recovering from the pandemic as higher vaccination rates and an easing of restrictions spur a…
By Sruthi Shankar and Susan Mathew (Reuters) – European shares moved further off six-week lows hit last session as forecast-beating results from companies including energy major TotalEnergies and automaker Volvo Car helped set aside worries about slowing global economic growth. The pan-European STOXX 600 index closed up 0.6%, but was below session highs, hit by…
(Reuters) – Europe’s biggest hotel group Accor reported on Thursday a jump in first-quarter revenue, as travel gradually recovers from the pandemic. “Accor’s performance in the first quarter of 2022 confirms the clear upturn in business across all regions and the renewed momentum in tourism, food services and entertainment,” Chairman and Chief Executive Officer Sebastien…
By David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Thursday called for a modernization of the U.S. unemployment insurance system, with more effective automatic stabilizers that speed assistance to workers who lose jobs or income when recessions hit. Yellen, in remarks to the Brookings Institution in Washington, said that recent recessions, including the…
By Kate Abnett and Francesco Guarascio BRUSSELS (Reuters) – The European Commission on Thursday warned buyers of Russian gas they could breach sanctions if they converted gas payments into roubles, as officials struggled to clarify the EU’s stance on Moscow’s payments scheme, which has sowed confusion in the bloc. Russian gas giant Gazprom cut supplies…
