By David Henry NEW YORK (Reuters) – Big U.S. banks including JPMorgan Chase & Co and Citigroup appear set for some earnings boost from a pick-up in the battered credit-card business, but a possible recession would pull consumers back and bring losses on outstanding loans. Last week, JPMorgan Chairman and CEO Jamie Dimon warned of…
By Lawrence Hurley and Ludwig Burger WASHINGTON/FRANKFURT (Reuters) – The U.S. Supreme Court could announce as soon as Monday whether it will hear Bayer’s bid to dismiss claims its Roundup weedkiller causes cancer as the company seeks to avoid potentially billions of dollars more in damages and payouts. Bayer is seeking review of an appeals…
By Saeed Azhar and Sinéad Carew (Reuters) – A dearth of IPOs, a plunge in stock prices and slowing global economic growth are clouding the outlook for revenue at global investment banks after pandemic spending by governments and central banks fueled a blockbuster 2021. Russia’s invasion of Ukraine and significant monetary tightening have led to…
By Byungwook Kim and Heekyong Yang ULSAN, South Korea (Reuters) – South Korean truckers embarked on broader and more aggressive strike action on Friday, threatening to severely curtail shipments of raw materials for semiconductors and petrochemical products. That comes on top of action at steelmaking giant POSCO and automakers Hyundai Motor Co and Kia Corp….
SHANGHAI (Reuters) – Tesla Inc has cancelled three online recruitment events for China scheduled this month, the latest development after Chief Executive Elon Musk threatened job cuts at the electric car maker, saying it was “overstaffed” in some areas. However, Musk had not commented specifically on staffing in China, which made more than half of…
(Reuters) – Australia’s largest casino operator Crown Resorts Ltd said on Friday regulators in the state of Western Australia had cleared its $6.3 billion buyout by private equity giant Blackstone Inc, subject to several strict conditions. The approval follows nods from New South Wales and Victoria this week and clears another hurdle in Blackstone’s path…
BEIJING (Reuters) – China’s factory-gate inflation cooled to its slowest pace in 14 months in May, official data showed on Friday, depressed by weak demand for steel, aluminium and other key industrial commodities due to tight COVID-19 curbs. The producer price index (PPI) rose 6.4% year-on-year, the National Bureau of Statistics (NBS) said in a…
By Alun John HONG KONG (Reuters) – The dollar was at a two-week high on the euro on Friday, ahead of inflation data that should guide the Federal Reserve’s policy tightening path, and after the European Central Bank said it would start its rate-hike campaign next month. U.S. core consumer price growth is expected to…
SEOUL/ULSAN (Reuters) -Production at Hyundai Motor Co’s biggest factory in South Korea halved on Thursday due to component shortages triggered by a truckers’ strike, a union official at the automaker said on Friday. About 8,100 members, or more than 36% of the Cargo Truckers Solidarity union in the country, went on strike for a third…
By Prerana Bhat and Indradip Ghosh BENGALURU (Reuters) – The U.S. Federal Reserve will hike its key interest rate by 50 basis points in June and July, with rising chances of a similar move in September, according to a Reuters poll of economists who see no pause in rate rises until next year. Faced with…
