(Reuters) – Russia’s central bank sees room for an interest rate cut as weekly inflation is slowing, Deputy Governor Alexei Zabotkin said on Thursday, Interfax new agency reported. It will present new economic forecasts to coincide with its next rate-setting meeting on April 29, TASS news agency quoted him as saying. The bank raised the…
In his first letter to Amazon shareholders, CEO Andy Jassy offered a defense of the wages and benefits the company gives its warehouse workers while also vowing to improve injury rates inside the facilities. Jassy, who took over from Amazon founder Jeff Bezos as CEO last July, wrote the company has researched and created a…
NEW YORK (AP) — Four big banks reported noticeable declines in their first-quarter profits Thursday, as the volatile markets and war in Ukraine caused deal-making to dry up while a slowdown in the housing market meant fewer people sought to get a new mortgage or refinance. The results from Citigroup, Goldman Sachs, Morgan Stanley and…
By Nichola Saminather TORONTO (Reuters) – Toronto-Dominion Bank’s Chief Executive Bharat Masrani on Thursday criticized the Canadian Liberal government’s planned tax on banks and called for policymakers to ensure Canada plays a “meaningful role” in supporting energy security. Canada plans to raise corporate taxes for the most profitable banks and insurers to 16.5% from 15%…
By Francesca Landini and Valentina Za MILAN (Reuters) -Italy’s Benetton family and U.S. investment fund Blackstone have proposed a 58 billion euro ($63 billion) buyout offer for Atlantia, to take it private and stave off rival interest for the airport and motorway operator. Highlighting the appeal of the infrastructure sector, the deal would be this…
NEW YORK (AP) — Retail sales rose modestly in March, but higher prices for food, gasoline and other basics took a big share of consumers’ wallets. Retail sales increased 0.5% after registering a revised 0.8% increase from January to February, reported the U.S. Commerce Department Thursday. Spending has been fueled by wage gains, solid hiring…
By Niket Nishant and Matt Scuffham (Reuters) -Goldman Sachs Group Inc reported a 43% drop in profit but beat Wall Street expectations on Friday, as strong performances in its wealth management and trading businesses partly offset a slump in equity underwriting as stock market listings dried up. Wall Street banks have come under pressure amid…
WASHINGTON (AP) — The head of the International Monetary Fund warned Thursday that Russia’s war against Ukraine was weakening the economic prospects for most of the world’s countries and called high inflation “a clear and present danger’’ to the global economy. IMF Managing Director Kristalina Georgieva said the consequences of Russia’s invasion were contributing to…
WASHINGTON (Reuters) – U.S. retail sales increased in March, mostly boosted by higher gasoline and food prices, but consumers are showing signs of cutting back on discretionary spending amid high inflation. Retail sales rose 0.5% last month, the Commerce Department said on Thursday. Data for February was revised higher to show sales gaining 0.8% instead…
ANKARA, Turkey (AP) — Turkey’s central bank on Thursday kept its main interest rate unchanged for a fourth month even as surging inflation has hit a 20-year high and eroded people’s purchasing power. In a statement following a monetary policy committee meeting, the bank said it was keeping its policy rate “constant” at 14%. The…
