By Andrew Osborn LONDON (Reuters) – The humiliating spectacle for Russia of two drones flying over the walls of the Kremlin, its historic seat of power, has spawned conflicting theories about who did it and why – but for Vladimir Putin the incident could yet prove useful politically. Although the drones were destroyed before causing…
MILAN (Reuters) -First quarter sales at Italian fashion group Moncler jumped by 23% at constant exchange rates, beating analysts’ expectations, boosted by Chinese demand and solid growth in the EMEA region. Overall revenues for the three months ending in March totalled 726.4 million euros ($799 million), above a company-provided analysts’ consensus of 689 million euros….
(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…
