By Florence Tan SINGAPORE (Reuters) -Oil prices fell on Tuesday as fresh COVID-19 curbs in China, the world’s biggest crude importer, and fears of a global economic slowdown weighed on the fuel demand outlook. Brent crude futures for September fell $1.35, or 1.3%, to $105.75 a barrel by 0305 GMT, while U.S. West Texas Intermediate…
By Andrea Shalal TOKYO (Reuters) – The global price of oil could surge by 40% to around $140 per barrel if a proposed price cap on Russian oil is not adopted, along with sanction exemptions that would allow shipments below that price, a senior U.S. Treasury official said on Tuesday. U.S. Treasury Secretary Janet Yellen…
By Kevin Buckland and Rae Wee TOKYO (Reuters) – The euro hovered close to a 20-year low near parity to the dollar on Tuesday amid concerns that an energy crisis could tip Europe into recession, while the U.S. Federal Reserve continues to aggressively tighten policy to curb inflation. The single currency fell as low as…
By Svea Herbst-Bayliss, Anirban Sen and Arunima Kumar NEW YORK (Reuters) -Billionaire investor William Ackman, who had raised $4 billion in the biggest-ever special purpose acquisition company (SPAC), told investors he would be returning the sum after failing to find a suitable target company to take public through a merger. The development is a major…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks lost ground on Monday as a lack of catalysts left market participants warily embarking on a week back-end loaded with crucial inflation data and the unofficial beginning to second-quarter earnings season. Market leading growth stocks pulled all three major U.S. stock indexes into negative territory, with…
(Reuters) -Gap Inc said on Monday that Chief Executive Sonia Syngal will step down just over two years into the role, as the apparel seller wrestles with weak demand for its casual attire and a slump in its stock price. It also warned that margins would stay under pressure in the second quarter as costs…
(Reuters) – Gap Inc said on Monday President and Chief Executive Officer Sonia Syngal would step down from her roles. The apparel maker said the company’s current executive chairman, Bob Martin, will serve as interim CEO, effective immediately. (Reporting by Ananya Mariam Rajesh in Bengaluru; Ediitng by Devika Syamnath)
By Noel Randewich and Hyunjoo Jin (Reuters) – Elon Musk’s attempt to scrap his purchase of Twitter Inc may leave the world’s wealthiest person in a stronger financial position than before he unveiled the $44 billion deal, with billions of dollars in cash from selling Tesla shares now sitting in the bank. After Musk on…
(Reuters) – Wells Fargo said on Monday that Kleber Santos will take over as the chief of consumer lending effective immediately. Santos served as head of Diverse Segments, Representation and Inclusion (DSRI) since joining the bank in November 2020. He succeeds Mike Weinbach, who plans to leave Wells Fargo in mid-September. The fourth-largest U.S. lender…
By Amruta Khandekar (Reuters) -U.S. stock indexes fell on Monday, with the earnings season set to kick off in earnest this week amid concerns of weaker corporate profit due to the impact of surging inflation. Jitters about the spread of COVID-19 in Macau hammered shares of casino operators as the gambling hub shut all its…
