By Herbert Lash NEW YORK (Reuters) -A gauge of global equity markets slid from five-month highs on Wednesday as poor corporate results fueled recession fears, as did the ongoing inversion of short- and long-dated Treasury yields – a harbinger of economic downturns. But main indexes on Wall Street sharply pared losses, suggesting that many believe…
By David Randall NEW YORK (Reuters) – Some of Wall Street’s biggest names are throwing cold water on expectations that the U.S. economy will scrape through 2023 without a recession, even as hopes of easing inflation and resilient growth propel stocks higher. Banks and asset managers that have reiterated recession calls include BlackRock, Wells Fargo…
(Reuters) -E-cigarette maker Juul Labs Inc is in early talks with three tobacco giants for a potential sale, strategic investment, licensing or distribution deal, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The company, which was reportedly looking to file for Chapter 11 bankruptcy, have had separate discussions with Philip…
By Laura Sanicola (Reuters) – U.S. crude inventories rose last week as demand for fuels tapered off, and while the increase was less than expected, crude stocks reached the highest level since June 2021, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 533,000 barrels in the last week to…
By Douglas Gillison WASHINGTON (Reuters) -Wall Street’s top regulator on Wednesday unanimously voted to propose a rule barring traders in asset-backed securities from betting against the very assets they sell to investors, behavior that became infamous in the wake of the 2008 global financial crisis. The rule is among the last to be adopted under…
By Shreyashi Sanyal and Johann M Cherian (Reuters) -Wall Street benchmarks dropped on Wednesday as a decline in technology stocks after Microsoft’s downbeat forecast and a bleak quarterly report from Boeing fanned fears of a recession. Shares of Microsoft Corp fell 1.2% after it warned that growth in its lucrative cloud business could stall, while…
(Reuters) – Natural disasters, many driven by climate change, caused global economic losses of $313 billion in 2022, insurance broker Aon estimated on Wednesday, of which less than half was insured. Losses from natural catastrophes covered by the insurance sector amounted to $132 billion, 57% above the 21st-century average, it added, leaving a global ‘protection…
By Shreyashi Sanyal and Johann M Cherian (Reuters) – Wall Street’s main indexes dropped on Wednesday, with the Nasdaq down 2% as Microsoft’s outlook weighed down technology stocks, while a bleak quarterly report from Boeing added to fears of a recession. Shares of Microsoft fell 3.9% after it warned that growth in its lucrative cloud…
By Gabriel Araujo SAO PAULO (Reuters) -Brazilian retailer Americanas SA reported 7,720 creditors and debt totaling nearly $8 billion within its restructuring process, a Rio de Janeiro court said on Wednesday. Americanas, backed by the billionaire trio that founded 3G Capital, entered bankruptcy protection last week after disclosing “inconsistencies” in its accounting, leading top investors…
By Hannah Lang (Reuters) -Crypto asset manager Grayscale Investments is gearing up for a prolonged legal fight with the U.S. Securities and Exchange Commission to create a spot bitcoin exchange-traded fund, the company’s chief executive officer said. As the company awaits a court ruling on a June lawsuit against the SEC, CEO Michael Sonnenshein said…
