By Jonathan Stempel NEW YORK (Reuters) – A U.S. judge on Thursday ordered JPMorgan Chase & Co to hand over more documents concerning Chief Executive Jamie Dimon to the U.S. Virgin Islands for the territory’s lawsuit accusing the bank of aiding in Jeffrey Epstein’s sex trafficking. U.S. District Judge Jed Rakoff in Manhattan said the…
(Reuters) – Canada-based delivery and logistics firm Purolator Inc, largely owned by Canada Post, said on Thursday it plans to invest about C$1 billion ($727.17 million) to electrify its fleet as the company looks to reduce its greenhouse gas emissions by 2030. Canadian Finance Minister Chrystia Freeland promised investments that can compete with the U.S….
By Rajesh Kumar Singh and Abhijith Ganapavaram CINCINNATI, Ohio (Reuters) -General Electric Co forecast revenue at its cash-cow aviation business to grow by at least low-double digits through 2025 on strong demand for jet engines and aftermarket services, sending its shares more than 8% higher on Thursday. Through this period, it also expects profit margins…
By Stephen Culp NEW YORK (Reuters) -Wall Street gained ground and Treasury yields eased on Thursday as economic data hinted at signs of cracks in the tight U.S. labor market, indicating that the Federal Reserve’s restrictive monetary policy is beginning to work as intended. All three major U.S. stock indexes were up modestly, the dollar…
By Yoruk Bahceli (Reuters) – Recent moves in bond and equity markets show that investors are starting to worry that the Federal Reserve may hike rates too far, a senior fund manager at Europe’s largest investor told Reuters on Thursday. Cosimo Marasciulo, head of fixed income absolute return at Amundi, said falling market gauges of…
(Reuters) -Shares of crypto-focused companies fell on Thursday after Silvergate Capital Corp disclosed plans to wind down operations and voluntarily liquidate, as the aftermath of FTX’s implosion last year reverberates through the industry. Analysts said a complete closure of the crypto lender could take one or two years depending on how quickly outstanding loans are…
By Marc Jones LONDON (Reuters) – Global markets hit a rare lull on Thursday ahead of U.S. jobs data at the end of the week that could easily whip up cross-asset storms. Europe’s broad STOXX 600 share index dipped 0.56% [.EU] although there was little movement from either the dollar [/FRX] or in bond markets,…
By Nell Mackenzie LONDON (Reuters) – Hedge funds’ bullish equity positioning in Europe is in line with some of the highest levels of the past five years but the appetite for stocks may fade amid rising interest rates and dour signals from bond markets, JP Morgan said in a note to clients on Thursday. European…
BERLIN (Reuters) -BMW’s core carmaking business hit its 2022 earnings target, the company said on Thursday, helped by strong pricing and consolidation of its China joint venture. Group revenue rose 28% to 142.6 billion euros ($150.66 billion) versus a Refinitiv SmartEstimate of 141.6 billion. Its autos business reported an 8.6% margin on earnings before interest…
(Reuters) -Chinese e-commerce firm JD.com Inc reported a higher quarterly adjusted profit on Thursday as China lifted strict pandemic-related curbs late last year. The company’s U.S.-listed shares rose 1% in premarket trading. JD.com’s net income attributable to ordinary shareholders in the fourth quarter was 3 billion yuan ($430.92 million), compared with a net loss of…
