By Saqib Iqbal Ahmed NEW YORK (Reuters) – Options traders are bracing for volatility in U.S. bank shares days ahead of an earnings season many believe will bring lower profits and reflect worries over an expected recession. Current market positioning signals a gloomy outlook: The one-month moving average of open puts on the Financial Select…
By Karen Freifeld NEW YORK (Reuters) – Allen Weisselberg, a longtime executive for Donald Trump and the star prosecution witness in the criminal trial of the former president’s real estate company, was sentenced on Tuesday to five months behind bars for helping engineer a wide-ranging tax fraud at the Trump Organization. Weisselberg, 75, was expected…
(Reuters) -FedEx Corp said on Tuesday it would further cut its Sunday package deliveries in March, as it looks to align operations with consumer demand. Many of FedEx’s 6,000 U.S. contractors had complained that there was not enough demand for Sunday deliveries to cover the cost of providing the service. The adjustment will trim the…
By Lindsay Dunsmuir and Howard Schneider STOCKHOLM (Reuters) -The Federal Reserve’s independence from political influence is central to its ability to battle inflation, but requires it stay out of issues like climate change that are beyond its congressionally established mandate, Fed Chair Jerome Powell said on Tuesday. “Restoring price stability when inflation is high can…
By Martin Coulter LONDON (Reuters) -UK lawmakers have called on Amazon to clarify comments made by a senior executive at a recent parliamentary hearing, after an advocacy group accused him of providing “misleading” evidence concerning the company’s treatment of warehouse workers. An Amazon spokesperson told Reuters the company strongly denied the executive – European policy…
By Francesco Canepa and Lindsay Dunsmuir STOCKHOLM (Reuters) -Some of the world’s top central bankers aired concerns about being expected to tackle climate change as well as tame inflation on Tuesday, with Federal Reserve chief Jerome Powell saying the U.S. central bank needed to stay out of politics. “We should ‘stick to our knitting’ and…
HOUSTON (Reuters) – Chevron Corp’s first cargo of Venezuelan crude after a U.S. license received in November has departed from a ship-to-ship transfer hub near Aruba to its Pascagoula, Mississippi refinery, according to shipping data seen by Reuters on Tuesday. (Reporting by Marianna Parraga; Editing by Gary McWillims)
By Manya Saini and Niket Nishant (Reuters) -Coinbase Global Inc said on Tuesday it will cut about 950 jobs, or 20% of its workforce, as part of a restructuring plan that marks the third round of layoffs for the cryptocurrency exchange since last year. The company, whose shares were up 3.3% at $39.52, said it…
By Luiza Ilie and Gergely Szakacs BUCHAREST (Reuters) – Romania’s 25 basis point rate hike on Tuesday may signal an end to Central Europe’s aggressive 18-month campaign of monetary tightening but persistently tight local labour markets and other obstacles still litter the path towards lower inflation. The relatively modest move consolidated a view among economists…
By Svea Herbst-Bayliss NEW YORK (Reuters) -An investor with a large stake in Venator Materials Plc has asked for board seats, criticizing the chemical company’s poor financial performance and a 96% drop in its share price, in a letter it sent to the board on Tuesday. J&T MS 1 SICAV owns 14.3% of Venator and…
