By Naomi Rovnick LONDON (Reuters) -Stock market investors are calling time on the idea that the Federal Reserve, and other major central banks, have their back. Hopes for interest rate cuts by year-end have evaporated, given resilient data and sticky inflation, suggesting central banks will instead be inclined to keep borrowing costs around their highest…
(Reuters) – Canada’s benchmark stock index opened lower on Monday, weighed down by materials and energy stocks, as commodity prices weakened after top-consumer China set a modest growth target for the year. At 9:33 a.m. ET (1433 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 17.26 points, or 0.08%, at 20,564.32. (Reporting by…
(Reuters) – Norfolk Southern Corp on Monday said it plans to add about 200 detectors to its tracks that will help identify overheated bearings as the railroad operator came under fire after a derailment in Ohio spewed toxins into the air and water. The company said it was evaluating the distance between hot bearing detectors,…
(Reuters) – Lordstown Motors Corp on Monday posted a bigger loss for the fourth quarter, as the electric-vehicle maker struggled with production costs and missed its delivery target for the Endurance pickup truck in the period. In September, when its commercial production commenced, Lordstown had said it aimed to deliver 50 vehicles in 2022 and…
(Reuters) – Shares of cryptocurrency-related companies fell in premarket trading on Monday after Silvergate Capital Corp pulled the plug on its crypto payments network, following its doubts about keeping its business viable. The digital assets-focused bank said late on Friday that effective immediately it had made a “risk-based decision” to discontinue the Silvergate Exchange Network…
By Dominique Vidalon PARIS (Reuters) -French Finance Minister Bruno Le Maire has reached a deal with the country’s main supermarket chains to help shoppers cope with food price inflation, he said on Monday. Food retailers have agreed to offer shoppers “the lowest possible prices” for a three-month period on a selection of items left to…
By Ariba Shahid and Asif Shahzad KARACHI, Pakistan (Reuters) -Pakistan will be required to give an assurance that its balance of payments deficit is fully financed for the remaining period of an International Monetary Fund (IMF) programme, the lender’s resident representative said. The external financing is one of the last in a string of prior…
By Mohi Narayan and Sudarshan Varadhan (Reuters) – Oil prices slipped on Monday after China set a lower-than-expected target for economic growth this year at around 5%, and as investors cautiously awaited U.S. Federal Reserve Chair Jerome Powell’s testimony this week. Brent crude futures were trading down 53 cents, or 0.6%, at $85.30 a barrel…
ZURICH (Reuters) -The Swiss National Bank reported on Monday an annual loss of 132.5 billion Swiss francs ($141.54 billion), in line with the provisional calculations it announced in January. The loss, the biggest in the central bank’s 115-year history, was caused by a plunge in the value of the SNB’s investments caused by bond and…
By Sabrina Valle and Marianna Parraga HOUSTON (Reuters) – Guyana’s coming auction of offshore oil exploration blocks has lured at least 10 companies including Shell, Petrobras and Chevron, to consider the decade’s hottest oil region, people close to the matter said. The South American country is offering 14 offshore blocks, a move to speed economic…
