By Howard Schneider (Reuters) -Atlanta Federal Reserve President Raphael Bostic on Monday said he expects the U.S. central bank will deliver two or three more half-percentage-point interest rate hikes but won’t need to use anything bigger, noting some hopeful signs on inflation. “I would say that (a 75-basis-point rate hike) is a low probability outcome…
By Sinéad Carew NEW YORK (Reuters) – Stock indexes around the world fell sharply on Monday and the dollar reversed course after hitting a two-decade high while oil prices sank as concerns about slowing growth and a tightened lockdown in Shanghai pushed investors toward safer bets. Oil prices tumbled almost 6% on Monday as continued…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Proxy advisory firm Egan-Jones recommended that Kohl Corp shareholders elect four of the 10 board nominees nominated by activist investment firm Macellum Advisors as the department store considers selling itself. Egan-Jones said shareholders should back Jeffrey Kantor, Pamela Edwards, Francis Ken Duane and Jonathan Duskin, Macellum’s founder and…
MILAN (Reuters) – Italy’s Benetton family will change the name of the investment vehicle bidding to take control of Italian infrastructure group Atlantia after protests on behalf of the victims of the 2018 Genoa bridge disaster. The Benettons have teamed up with Blackstone to buy full control of Atlantia and in official documentation called the…
By Tommy Wilkes LONDON (Reuters) – Stocks fell heavily again on Monday and the dollar rocketed to a new two-decade high as worries about higher interest rates and a tightened lockdown in Shanghai deepened investors’ fears that the global economy is rapidly heading for a slowdown. After a bruising session on Friday in which U.S….
WASHINGTON (AP) — Inflation is at a 40-year high. Stock prices are sinking. The Federal Reserve is making borrowing much costlier. And the economy actually shrank in the first three months of this year. Is the United States at risk of enduring another recession, just two years after emerging from the last one? For now,…
LONDON (Reuters) – BlackRock trimmed its exposure to Chinese stocks and government bonds, and Asian fixed income more widely, to neutral from a slight overweight, citing a worsening macroeconomic outlook as well as geopolitics. “China’s ties to Russia also have created a new geopolitical concern that requires more compensation for holding Chinese assets, we think,”…
By Heekyong Yang and Ben Klayman SEOUL/DETROIT (Reuters) -Hyundai Motor Co plans to build a new electric-vehicle manufacturing plant in the United States and has held discussions with officials in Georgia, near existing plants for the Hyundai and Kia brands, people with knowledge of its plans told Reuters. Hyundai Motor confirmed an imminent plan for…
By Chibuike Oguh (Reuters) -Private equity firm Carlyle Group Inc told Reuters on Monday it has agreed to acquire U.S. specialty insurance provider NSM Insurance Group from White Mountains Insurance Group Ltd for $1.78 billion in cash. Carlyle said the deal is expected to close in the second half of this year. The transaction is…
By Alun John and Elizabeth Howcroft HONG KONG / LONDON (Reuters) – Bitcoin fell to its lowest level since July 2021 on Monday as slumping equity markets continued to hurt cryptocurrencies, which are currently trading in line with so-called riskier assets like tech stocks. Bitcoin dropped to as low as $32,763.16 shortly before 1100 GMT,…
