By Laura Sanicola NEW YORK (Reuters) – Oil prices settled lower on Thursday, but pared nearly all losses after falling more than $4 earlier in the session as investors focused on the prospect of a large U.S. rate hike later this month that could stem inflation but at the same time hit oil demand. Brent…
By Pamela Barbaglia LONDON (Reuters) – Bank of America has promoted former Prudential executive James Gill to lead its financial institutions franchise for Europe, the Middle East and Africa as it seeks to win more business from the region’s biggest banks and fintech clients. The move comes as one of the bank’s most senior members…
BILLINGS, Mont. (AP) — U.S. prosecutors suspect a Wyoming company of potentially concealing problems with a pipeline that broke in 2015 and spilled more than 50,000 gallons (240,000 liters) of crude into Montana’s Yellowstone River, fouling a small city’s drinking water supply, court filings show. The government is suing Bridger Pipeline for violations of environmental…
(Reuters) – Aston Martin is closing in on a deal to raise over 500 million pounds ($589.30 million) by bringing in Saudi Arabia’s sovereign wealth fund as a major shareholder and launching a rights issue for investors, the Financial Times reported on Thursday. The proposal will result in Saudi’s Public Investment Fund (PIF) investing up…
ROME (AP) — Italian Premier Mario Draghi has told his Cabinet he will offer his resignation on Thursday evening to the president, following the refusal of a coalition ally to support a government bill. “The majority of national unity that has sustained this government from its creation doesn’t exist any more,” Draghi said in a…
By Noor Zainab Hussain and David Henry (Reuters) -JPMorgan Chase & Co’s Jamie Dimon struck a cautious note on the global economy as America’s largest bank reported a worse-than-expected 28% fall in quarterly profit and suspended share buybacks in the face of growing risks of a recession. The chief executive also stressed the need to…
VINNYTSIA, Ukraine (AP) — Russian missiles struck a city in central Ukraine on Thursday, killing at least 23 people and wounding more than 100 others far from the front lines, Ukrainian authorities said. Ukraine’s president accused Russia of deliberately targeting civilians in locations without military value. Officials said Kalibr cruise missiles fired from a Russian…
ROME (AP) — Eugenio Scalfari, who helped revolutionize Italian journalism with the creation of La Repubblica, a liberal daily that boldly challenged Italy’s traditional newspapers, died Thursday at 98, the Senate president announced. Senate President Maria Elisabetta Alberti Casellati led lawmakers who were debating a bill in a minute of silence to honor one of…
Delta Airlines (DAL) was the first major airline to report Q2 results. Expectations for the group are high as stories of skyrocketing ticket prices suggested a windfall quarter. Inflationary pressures from higher fuel costs and wages were expected to take their toll but, surely the group would ride out that turbulence on the wings of…
Last month, Jamie Dimon put the markets on notice as he said his bank was preparing for a “hurricane”. Today, the bank announced steps to protect itself from a pending storm system. J.P. Morgan (JPM) placed $400 million into its reserves to protect against potential delinquencies. It also halted its share buyback program, preferring to…
