By Caroline Valetkevitch NEW YORK (Reuters) – Stock indexes mostly rose on Thursday as investors snapped up beaten-down shares, while the U.S. dollar climbed to its highest in nearly two years and the U.S. Treasury 10-year yield touched a three-year high following hawkish signals from the Federal Reserve. Wall Street stocks reversed early declines to…
(Reuters) – Macro funds this year posted their highest first-quarter performance since 1993, as fund managers navigated well amid high volatile markets, a report by hedge fund data provider HFR showed on Thursday. Macro hedge funds, which bet on macroeconomics trends, rose 7.7% in the quarter, according to a macro fund index, helped by skyrocketing…
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)…
