(Reuters) – JPMorgan increased its corporate default rate forecast for all emerging markets to 6% from 5.5% on Monday, citing in particular growing risk among Latin American companies as access to credit markets gets tougher. The bank’s forecasted default rate for Latin American corporates, meanwhile, came in even higher at 6.6%, up from 5%, which…
By Jonathan Stempel NEW YORK (Reuters) – A U.S. judge on Monday dismissed long-running litigation by investors who accused HSBC Holdings Plc and Bank of Nova Scotia of conspiring to fix silver prices. U.S. District Judge Valerie Caproni in Manhattan said the investors lacked legal standing to pursue federal antitrust claims under the Sherman Act,…
By Herbert Lash (Reuters) -A derivatives committee ruled on Monday that a bankruptcy credit event had not occurred in relation to Credit Suisse, quashing investors’ efforts to trigger a payout on credit insurance linked to the Swiss lender. The ruling was in response to an investor question about $17 billion in senior and subordinated bonds…
By Louise Rasmussen and Michael Erman COPENHAGEN (Reuters) -Novo Nordisk and Pfizer Inc separately released data on Monday showing that pills from the same class as Novo’s increasingly popular weight loss drugs such as Wegovy are about as effective as those injected medicines, giving shares of both companies a boost. Novo Nordisk said data from…
(Reuters) – TikTok filed a federal lawsuit on Monday against Montana after the state passed a law banning the short-video app. “We are challenging Montana’s unconstitutional TikTok ban to protect our business and the hundreds of thousands of TikTok users in Montana,” TikTok said in the court filing. (Reporting by Jasper Ward and David Shepardson…
By Luc Cohen NEW YORK (Reuters) -The U.S. Supreme Court on Monday gave a big boost to two real estate developers and a former state university official convicted of fraud for rigging bids for one of former New York Governor Andrew Cuomo’s signature projects, the latest reversal for the Justice Department in a major corruption…
(Reuters) -JPMorgan Chase & Co CEO Jamie Dimon said he still approaches his job leading the largest U.S. bank with the same intensity, when asked by analysts about his retirement plans on Monday. Succession plans of Wall Street giants have come into focus after Morgan Stanley chief James Gorman outlined steps last week to hand…
By Karen Brettell NEW YORK (Reuters) – The dollar rose against the Japanese yen on Monday, holding just below a six-month high, as investors waited on fresh data to signal whether the U.S. Federal Reserve is likely to continue hiking interest rates, while watching for news of a congressional deal to raise the U.S. debt…
By Scott DiSavino NEW YORK (Reuters) -Oil prices edged up 1% on Monday with a rise in U.S. gasoline futures and forecasts for oil demand to rise in the second half of the year, while supplies from Canada and OPEC+ declined in recent weeks. Oil prices, however, were held in check by a stronger dollar…
(Reuters) – Walmart Inc said on Monday it has signed a deal with pet telehealth provider Pawp to offer the retailer’s subscribed members access to veterinary professionals via video or text without an appointment. Walmart+ customers can use Pawp’s services for a year from Tuesday, the top U.S. retailer said, as it looks to tap growing…
