By Camillus Eboh ABUJA (Reuters) -Nigeria’s lower house of parliament on Thursday approved a plan to restructure 23.7 trillion naira ($52 billion) in short-term loans due to the central bank to long-term debt, a day after the Senate gave its consent. Nigerian government revenues are under pressure as oil production fell due to crude theft…
By Gabriel Araujo SAO PAULO (Reuters) -Embraer SA widened its net loss in the first quarter from a year ago, driving its shares lower on Thursday despite saying results came in within management expectations for a seasonally weaker period and reaffirming full-year forecasts. Brazil-traded shares in the company, the world’s No.3 planemaker after Boeing and…
TORONTO (Reuters) – Canadian economic activity expanded at a slower pace in April as growth in employment slipped and inventories declined, Ivey Purchasing Managers Index (PMI) data showed on Thursday. The seasonally adjusted index fell to 56.8 from 58.2 in March. A reading above 50 indicates an increase in activity. The Ivey PMI measures the…
By Aatrayee Chatterjee (Reuters) -Kellogg Co on Thursday forecast a smaller drop in annual profit than it had previously expected and raised the lower end of its sales outlook on the back of repeated price hikes and resilient demand for its cereals and snacks. Kellogg, like other global packaged food makers, has been using its…
LONDON (Reuters) – The U.S. Federal Reserve is close to the end of its interest rate hiking cycle, while the European Central Bank on Thursday slowed the pace of its aggressive tightening. Turmoil in the banking sector, particularly in the United States, is adding to central banks’ difficulties, leaving them juggling the need to control…
(Reuters) -Goldman Sachs Group Inc said in a filing on Thursday it is cooperating with government probes into collapsed Silicon Valley Bank. The Wall Street bank is “cooperating with and providing information to various governmental bodies in connection with their investigations and inquiries” into SVB, including the two companies’ dealings in March. Goldman was involved…
(Reuters) – Lordstown Motors reported a steep fall in its cash reserves on Thursday and said it might have to stop making its Endurance electric pickup truck in the near future unless it finds a partner. The remarks come days after the cash-strapped EV startup said it might be forced to file for bankruptcy, citing…
By Anirban Sen and Noel Randewich (Reuters) – PacWest Bancorp said late on Wednesday it was in talks with potential partners and investors about strategic options after shares of the Los Angeles-based lender and several other U.S. regional banks tumbled amid fears of a worsening banking crisis. In a statement, PacWest said it had not…
By Rajesh Kumar Singh and Allison Lampert (Reuters) – Delta Air Lines’ industry-changing pilot contract that offers $7 billion in higher pay and benefits is putting pressure on rival carriers to hand out similar deals ahead of a busy summer travel season. Any proposal that falls short of Delta’s deal will likely have no takers…
(Reuters) -Qualcomm Inc’s shares sank 7% on Thursday after the chip designer signalled it would take longer for its crucial smartphone market to rebound from a post-pandemic slump. The company, which supplies to top handset makers Apple Inc and Samsung Electronics, was set to lose about $10 billion in market valuation, if the losses hold….
