(Reuters) -A clutch of U.S. regional lenders saw deposits drop in the first-quarter as clients reeling from a crisis of confidence in the banking sector moved to bigger institutions and sought refuge in money market funds. The flight of deposits at Fifth Third Bancorp, Comerica, Truist Financial Corp and KeyCorp dampened gains that the lenders…
By Akash Sriram and Tanya Jain (Reuters) -Investments in the U.S. space industry dropped 53% to $2.2 billion in the three months ending March, a report said, with high interest rates and challenging market conditions making it the lowest-funded quarter the sector has seen since 2015. The steep drop in fresh capital has left many…
By Asif Shahzad ISLAMABAD (Reuters) – Pakistan has placed its first order for discounted Russian crude oil under a deal struck between Islamabad and Moscow, the country’s petroleum minister said, with one cargo to dock at the port of Karachi in May. Pakistan’s purchase gives Russia a new outlet, adding to Moscow’s growing sales to…
By Swati Bhat MUMBAI (Reuters) – India’s current rate tightening cycle may not be over as more hikes could be warranted to align inflation towards the central bank’s medium term target of 4%, minutes of this month’s Monetary Policy Committee (MPC) meeting showed on Thursday. The MPC, comprising three members from the central bank and…
By Sam Tobin LONDON (Reuters) – Credit Suisse was accused on Thursday of having “learnt nothing” from the 2008 financial crisis on the first day of a trial at London’s High Court over residential mortgage-backed securities. Loreley Financing, a special purpose vehicle set up by German bank IKB, is suing Credit Suisse over its 2007…
FRANKFURT (Reuters) -Some European Central Bank policymakers worried at their last meeting that the ECB’s new economic forecasts about wages, growth and inflation were too benign, even before they were published, the ECB said on Thursday. The ECB said at that meeting that it expected inflation would gradually decline to its 2% target by 2025,…
By Andrew Osborn MOSCOW (Reuters) – The Russian military has launched a video campaign to lure more professional soldiers to fight in Ukraine which challenges those interested to show they are “a real man” and swap what it casts as hum-drum civilian life for the battlefield. The ad, set to stirring music, follows a report…
By Holger Hansen BERLIN (Reuters) -The German government is set to slightly raise its economic growth forecast for this year to 0.4% from its previously predicted 0.2%, two sources told Reuters on Thursday. For 2024, the government will slightly lower its prediction, to 1.6% from the 1.8% foreseen in January, the sources said. Inflation forecasts…
(Reuters) – Huntington Bancshares Inc on Thursday reported a first-quarter profit that narrowly beat analysts’ estimates, as a boost from higher interest rates offset a hit from bigger provisions. A surge in banks’ net interest income (NII), helped by the Federal Reserve’s aggressive rate hikes to curb decades-high inflation, is helping the lenders navigate a…
By Kylie Madry MEXICO CITY (Reuters) – Mexico’s state-run lithium company is examining a geothermal extraction method of the white metal, its Chief Executive Pablo Taddei said in a panel Wednesday, looking to complement the primary method of extracting the metal from clay-based deposits. “We’re also exploring – and I think really great synergies are…
