(Reuters) – Short sellers made $378.9 million in paper profits betting against regional banks First Horizon Corp, PacWest Bancorp and Western Alliance Bancorp in Thursday’s session, analytics firm Ortex said. Since the start of 2023, bearish investors have made $816 million from the three stocks alone, according to Ortex. Shares of regional banks resumed their slide…
By Rod Nickel and Sourasis Bose (Reuters) -Canada’s Enbridge Inc said on Thursday it has reached a toll agreement with oil shippers for its Mainline crude pipeline system, one of North America’s biggest, after scrapping earlier plans for long-term contracts. The agreement, which will last through 2028 and requires Canadian regulatory approval, covers tolls charged…
By Naomi Rovnick and Dhara Ranasinghe LONDON (Reuters) – The ECB may not be done with rate hikes just yet, but its own admission that aggressive tightening is now making itself felt in the euro zone economy is enough for markets to bet that peak rates could arrive sooner rather than later. Interest rate-sensitive two-year…
By Shreyashi Sanyal (Reuters) -European shares ended Thursday lower after the European Central Bank eased the pace of its interest rate hikes but signalled more tightening to come, while Swedish builder Skanska tumbled as its earnings were hit by soaring inflation and high rates. The pan-European STOXX 600 index closed 0.5% lower, hovering near one-month…
(Reuters) – Marathon Petroleum said on Thursday four employees were transported to local medical facilities for evaluation after they were exposed to a release at its refinery in Wilmington, California. The Los Angeles Fire Department (LAFD) said the reported leak of butane and hydrogen sulfide gases had been shut down and the risk of hazardous…
(Reuters) -Western Alliance Bancorp on Thursday denied a report that said it was exploring a potential sale that sent the lender’s shares down more than 60%. “Western Alliance is not exploring a sale, nor has it hired an advisor to explore strategic options,” the lender said. The bank’s shares were down 42% at $17.22, with…
NEW YORK (Reuters) – The U.S. Virgin Islands may serve legal papers on Larry Page as part of its lawsuit against JPMorgan Chase & Co <JPM.N> over its ties to the late sex offender Jeffrey Epstein, a judge ruled on Thursday. The ruling by U.S. District Judge Jed Rakoff in federal court in Manhattan did…
MILAN (Reuters) -Ferrari on Thursday produced a bigger than expected 27% rise in first-quarter core profit and forecast a strong second quarter, when deliveries start for its new Purosangue model, for which waiting lists extend to 2026. The Italian luxury sportscar maker said it was reopening orders for the Purosangue four-door, four-seater, which had been…
By Sourasis Bose (Reuters) -U.S. refiner HF Sinclair Corp beat estimates for first-quarter profit on Thursday and said it had offered to buy all outstanding shares that it does not already own in Holly Energy Partners LP. Shares of HF Sinclair fell 7% to $38.98, with Wall Street analysts suggesting that the quarterly beat could…
By Deborah Mary Sophia (Reuters) – Royal Caribbean Group raised its annual profit forecast after upbeat quarterly results on Thursday, cruising on the back of higher ticket prices and pent-up leisure travel demand, sending shares up nearly 8%. The Miami, Florida-based company also projected current-quarter earnings well above Wall Street estimates and said bookings outpaced…
