By Nia Williams (Reuters) -Oil slipped 2% on Tuesday as demand worries due to China’s prolonged COVID-19 lockdowns outweighed support from a possible European oil embargo on Russia. Beijing, reporting dozens of new cases daily, is mass-testing residents to avert a lockdown similar to Shanghai’s over the past month. The capital’s restaurants were closed for…
By Mehnaz Yasmin (Reuters) – The cost to insure bonds of Goldman Sachs, Morgan Stanley and Citigroup against default hit two-year highs on Monday on growing fears the U.S. Federal Reserve’s aggressive moves to tame inflation might tip the economy into recession. Credit risks have worsened since the Ukraine crisis as some big U.S. banks…
PARIS (Reuters) – Most unions at U.S. e-commerce giant Amazon’s French arm rejected the company’s 2022 pay proposal on the final day of talks, but no immediate industrial action is planned, union representatives said. A group unions had proposed a 5% pay increase to compensate for a sharp rise in inflation in France. The company,…
By Ashitha Shivaprasad (Reuters) – Gold firmed on Tuesday, tracking a slight retreat in U.S. Treasury yields and dollar, while investors anticipated an aggressive interest rate hike from the U.S. Federal Reserve when it concludes a two-day policy meeting. Spot gold was up 0.3% to $1,869.08 per ounce by 1655 GMT. Prices had touched $1,849.90…
By Julia Payne LAGOS (Reuters) -Nigeria had to buy emergency supplies of Canadian potash in April after the country was unable to import the key fertilizer from Russia due to the impact of Western sanctions, the head of Nigeria’s sovereign investment authority NSIA said. Uche Orji, the head of NSIA, declined to comment on prices….
By Emma-Victoria Farr and Krystal Hu LONDON (Reuters) -German software firm SAP is working with investment bank Moelis & Co to sell its corporate learning software business Litmos as it seeks to streamline its operations and focus on cloud-based revenue, three sources told Reuters. The sale of California-based Litmos could fetch a valuation of more…
LONDON (AP) — The World Health Organization says the rates of people who are obese and overweight in Europe have hit “epidemic proportions,” with nearly 60% of adults and a third of children in one of those categories. In a report issued Tuesday, the U.N. health agency’s European office said the prevalence of obesity among…
Markets are under significant selling pressure. The Nasdaq entered bear market territory following its April swoon. Sentiment remains negative as evident by the sub-40 Relative Strength Index (RSI) readings in the QQQs and SPY. This decline sets up the potential for a bear market rally. These are rallies that are sparked by short-covering and fast…
By Herbert Lash and Danilo Masoni NEW YORK/MILAN (Reuters) – A gauge of global equity markets rose slightly on Tuesday while 10-year U.S. Treasury yields slid from 3% amid investor caution ahead of the biggest single-day rate hike expected by the U.S. Federal Reserve since 2000. In a sign of the challenge the Fed faces…
By Eva Mathews and Helen Coster (Reuters) -Paramount Global reported forecast-missing quarterly revenue on Tuesday that sent its shares down 6%, but the media giant still added millions of streaming subscribers. Total revenue fell about 1% to $7.33 billion in the first quarter, below analysts’ estimates of $7.38 billion, according to IBES data from Refinitiv….
