LONDON (Reuters) – Bank stress will likely be limited to a small number of banks but lead to tighter lending conditions and a pick-up in corporate defaults, a Bank of America April credit investor survey released on Wednesday showed. The gap between high-yield bonds and government debt has tightened on 63% of days so far…
By Daniel Wiessner (Reuters) – Uber Technologies Inc drivers are not exempt from a U.S. law requiring them to bring work-related legal disputes in private arbitration rather than joining class action lawsuits in court, a U.S. appeals court ruled on Wednesday. A panel of the Philadelphia-based 3rd U.S. Circuit Court of Appeals said that Uber…
By Karin Strohecker and Jorgelina do Rosario LONDON (Reuters) -Some investors of Ghana’s 2030 Eurobond have received coupon payments which had been due on April 14, a source with direct knowledge of the matter said on Wednesday. The government announced it would default on some its external debt in December and has not made payments…
(Reuters) – Argentina’s peso strengthened in parallel markets on Wednesday, with the black market rate still not far from 500 per dollar and analysts were looking at the government’s economic policy options and uncertainty building ahead of elections in October. Calls for a devaluation that would send the 222 pesos per dollar official rate closer…
By Valerie Insinna and Abhijith Ganapavaram (Reuters) – Boeing Co said on Wednesday that it planned to ramp up production of its 737 MAX jets to 38 per month by year-end and keep its annual cash-flow goal, offering some relief to investors after a new manufacturing snafu threatened to derail deliveries. Boeing shares rose 2.5%…
WASHINGTON (Reuters) – The Taliban have killed an Islamic State militant who was the “mastermind” behind a suicide attack at Kabul’s international airport in 2021 that killed 13 U.S. troops and scores of civilians during the United States’ chaotic evacuation from the country, U.S. officials said on Tuesday. The bombing occurred on Aug. 26, 2021,…
By David Shepardson WASHINGTON (Reuters) -Chrysler parent Stellantis NV said Wednesday it is offering voluntary exit packages to 33,500 U.S. employees as it looks to streamline operations. The offers cover 31,000 U.S. hourly workers and about 2,500 salaried workers. Stellantis did not say how many total jobs it is looking to eliminate. It is also…
By Davide Barbuscia CHICAGO (Reuters) – Former U.S. Treasury Secretary Lawrence Summers said the odds that the U.S. government could face a technical debt default due to legislation around its borrowing limit were at around 2%-3%, but that any default would be fixed quickly. A standoff between Republicans and Democrats over raising the U.S. borrowing…
(Reuters) -U.S. railroad operator Norfolk Southern Corp took a $387 million charge in the first quarter due to the Ohio freight train derailment and said it expects economic headwinds to weigh on its volume and revenue during the April-June period. Shares of Norfolk, which operates in 22 states and the District of Columbia, slipped 1.1%…
By Philip Pullella (Reuters) – Pope Francis, in a historic move that could lead to more inclusiveness in decision-making in the Roman Catholic Church, will allow women to vote for the first time at a global meeting of bishops in October. In the past, women were allowed to attend the synods, a papal advisory body,…
