By Sudarshan Varadhan and Muyu Xu (Reuters) -Oil fell for a fourth session on Friday, heading for its biggest weekly loss in five weeks on worries about the prospect of steep interest rate hikes in the United States slowing growth and hitting fuel demand. Brent dipped 48 cents, or 0.6, to $81.11 a barrel by…
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) -The Bank of Japan (BOJ) maintained ultra-low interest rates on Friday and held off making changes to its controversial bond yield control policy, leaving options open ahead of a leadership transition in April. The meeting was the last one to be chaired by Governor Haruhiko Kuroda, who…
By Krystal Hu, Anna Tong and Ananya Mariam Rajesh (Reuters) – SVB Financial Group scrambled on Thursday to reassure its venture capital clients their money was safe after a capital raise led to its stock collapsing 60% and contributed to wiping out over $80 billion in value from bank shares. SVB, which does business as…
By Rae Wee SINGAPORE (Reuters) – The dollar paused its ascent on Friday after a rise in jobless claims in the United States implied possibly easing conditions in the labour market and tempered expectations of further aggressive rate hikes from the Federal Reserve. In Asia, moves were subdued as markets remained on guard ahead of…
By Leika Kihara TOKYO (Reuters) -The Bank of Japan (BOJ) is set to maintain ultra-low interest rates on Friday and hold off on making major changes to its controversial bond yield control policy, leaving options open ahead of a leadership transition in April. The meeting will be the last one to be chaired by Governor…
SANTIAGO (Reuters) – LATAM Airlines reported a fourth-quarter net profit of $2.538 billion, the company said on Thursday, noting that all financial renegotiations stemming from its bankruptcy proceedings are reflected in the results. The quarterly profit of South America’s leading airline compares to a loss of $2.755 billion during the same three-month period during the…
CINCINNATI, Ohio (Reuters) – General Electric Co is working on addressing issues with the durability of its LEAP jet engines and changes will be rolled out next year, Karl Sheldon, a senior executive at the company’s aerospace unit, said on Thursday. The problems with LEAP engines, which power Airbus and Boeing jets, is occurring in…
By Sinéad Carew and Amruta Khandekar (Reuters) – Wall Street’s three major stock indexes closed lower on Thursday, with bank stocks creating the biggest drag while investors also worried that Friday’s jobs report could spur more aggressive interest rate hikes from the Federal Reserve. The S&P 500’s bank index finished down 6.6% after hitting its…
By Pete Schroeder WASHINGTON (Reuters) – The top regulatory official for the U.S. Federal Reserve said cryptocurrency technology still could have “potential transformative” effects on the financial system, but needs “guardrails” to realize them. Fed Vice Chair for Supervision Michael Barr said recent turmoil in crypto markets make clear the sector could still pose a…
WASHINGTON (Reuters) – The U.S. Treasury Department on Thursday said it has proposed raising the effective minimum rate that U.S. corporations pay on overseas income to 21% from about 10.5% as it aims to bring the United States into compliance with a global corporate minimum tax deal. The changes to the current “GILTI” minimum tax…
