By Aziz El Yaakoubi and Samia Nakhoul JEDDAH, Saudi Arabia (Reuters) – Syrian President Bashar al-Assad was given a warm welcome at an Arab summit on Friday, winning a hug from Saudi Arabia’s crown prince at a meeting of leaders who had shunned him for years, in a policy shift opposed by the U.S. and…
By Deborah Mary Sophia (Reuters) -Foot Locker Inc’s shares closed down 27% on Friday as the footwear retailer cut its annual sales and profit forecasts amid a sharp drop in demand and a hit from heavy discounts aimed at clearing excess inventories. The company also missed analysts’ estimates for first-quarter results and named former Kohl’s…
By Nelson Acosta and Dave Sherwood HAVANA (Reuters) – Russian officials and business leaders have signed multiple deals with Cuban counterparts at a forum in Havana this week, agreeing to work together to boost sugar and rum output, assure wheat and crude oil supply to the communist-run island, and overhaul crumbling tourist facilities. The longtime…
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices fell on Friday, as investors worried that U.S. politicians will fail to agree on a new debt ceiling and trigger a default that would hurt the economy and reduce fuel demand. Brent futures settled 28 cents, or 0.8%, lower at $75.58 a barrel, while West Texas Intermediate U.S….
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices fell on Friday, as investors worried that U.S. politicians will fail to agree on a new debt ceiling and trigger a default that would hurt the economy and reduce fuel demand. Brent futures settled 28 cents, or 0.8%, lower at $75.58 a barrel, while West Texas Intermediate U.S….
By Chibuike Oguh NEW YORK (Reuters) -Shares of U.S. regional lenders fell on Friday after CNN reported that U.S. Treasury Secretary Janet Yellen told bank chief executives that more mergers may be necessary following a series of bank failures. Yellen also reaffirmed the strength and soundness of the country’s banking system at the meeting with…
(Reuters) – Deposits at all U.S. commercial banks slipped last week and overall credit provided by banks edged lower as well, Federal Reserve data released on Friday showed. Deposits in the week ending May 10 totaled $17.10 trillion on a nonseasonally adjusted basis, down from $17.16 trillion a week earlier, the Fed’s weekly snapshot of…
By Hyunjoo Jin San Francisco (Reuters) – Tesla is offering discounts of more than $1,300 on some Model 3 cars in its U.S. inventory following even heavier discounts in Europe, according to a Reuters’ review of its website, even as the electric carmaker has raised U.S. prices on most newly ordered cars this month. Facing…
By Andrew Hay TAOS, N.M. Reuters) – A unexpected alliance between traditional woodcutters and federal land managers in New Mexico could provide a model for a push by President Joe Biden’s administration to thin forests near villages and towns at risk of climate-driven wildfires. Near Taos in northern New Mexico, Vicente Fernandez, a mayordomo, or…
NEW YORK (Reuters) – Morgan Stanley CEO James Gorman told shareholders Friday that the company will likely appoint its next CEO in the next 12 months. Gorman, 64, said the board has identified three strong candidates to succeed him and that he will become executive chairman once a new CEO is chosen. Shares of Morgan…
