FRANKFURT (Reuters) – European Central Bank supervisors are often too lenient with banks in how they manage credit risk, especially in the case of the worst performers, the European Court of Auditors (ECA) said on Friday in a report that highlighted a number of shortcomings. The ECB supervises just over a hundred of the euro…
By Rollo Ross and Danielle Broadway BURBANK, California (Reuters) – As striking Hollywood writers protest working conditions, some are seeking more than a new labor contract. They are also looking for love on the picket lines. Single members of the Writers Guild of America gathered outside the Universal Studios lot this week for a combination…
By Yadarisa Shabong (Reuters) -British online retail platform THG Plc ended talks with Apollo Global Management on Friday, saying there was “no merit” in further discussions after it rejected the private equity firm’s buyout proposal based on “inadequate valuations”. Apollo, in a separate statement, said it no longer planned to make an offer for the…
(Reuters) -British drugmaker GSK on Friday said it sold 240 million shares in its consumer healthcare business Haleon at 335 pence per share, raising about 804 million pounds ($1.01 billion). Haleon, the world’s biggest standalone consumer health company, comprising assets from GSK and Pfizer, sells non-prescription drugs, vitamins and oral care products. The sale price…
(Reuters) – JPMorgan in a research note on Friday said it now forecast a 0.2% decline in South Africa’s 2023 gross domestic product versus a previous forecast for 0.3% growth, citing expectations for deeper power cuts. The bank added that prolonged power cuts above the current record level referred to as “Stage 6” would worsen…
(Reuters) – The U.S. Federal Reserve will probably need to raise interest rates further if inflation stays high, Fed Governor Michelle Bowman said on Friday, adding that key data so far this month has not convinced her that price pressures are receding. “Should inflation remain high and the labor market remain tight, additional monetary policy…
By Pete Schroeder WASHINGTON (Reuters) – Federal Reserve Governor Michelle Bowman said Friday that the central bank should hire an outside party to further examine the events that led to the abrupt failure of Silicon Valley Bank, arguing in a rare Fed insider’s critique that it is a necessary supplement to its own internal review….
JAKARTA (Reuters) – Indonesia’s April trade surplus was seen increasing from the previous month, with imports softening due to less production activities during the holiday of Ramadan, a Reuters poll showed. The median analysis of 14 economists in the survey showed the trade surplus in April likely increased to $3.38 billion from $2.91 billion in…
By Rozanna Latiff KUALA LUMPUR (Reuters) -Malaysia’s economy grew faster than expected in the first quarter buoyed by firm domestic demand, spurring the central bank to downplay fears of a global slowdown hitting the export-dependent country. Gross domestic product rose 5.6%, according to central bank and government data, faster than the 4.8% annual expansion forecast…
ISTANBUL (Reuters) – Kemal Kilicdaroglu, the main election rival of Turkish President Tayyip Erdogan, issued a warning to Russia, accusing it of responsibility for the release of fake material on social media ahead of Sunday’s ballot. Kilicdaroglu, who has a slight lead over long-time leader Erdogan according to opinion polls, did not specify to which…
