NEW YORK (Reuters) – Wells Fargo & Co expects an upside in net interest income going ahead, Chief Financial Officer Mike Santomassimo said on Tuesday. The bank had earlier issued guidance for a 10% higher net interest income this year, more than the full-year 2022 level of $45 billion. Santomassimo, who was speaking at a…
By Gabriel Araujo SAO PAULO (Reuters) – Brazilian airline Azul on Tuesday launched exchange offers aimed at pushing forward bonds originally set to mature in 2024 and 2026, the latest move in a broader restructuring plan it expects to remove an overhang on its stock. The exchange offers total $1 billion and follow a deal…
By Nell Mackenzie LONDON (Reuters) -Odey Asset Management (OAM) is closing one fund and restricting money clients can pull from another, two investor letters showed, just as the hedge fund was scrambling on Tuesday to keep its prime brokers from ending vital relationships with the firm. These developments follow allegations of sexual misconduct by its…
N’DJAMENA (Reuters) – Thousands of Sudanese refugees who fled to Chad to escape fighting in their country could be cut off from humanitarian and medical aid during the approaching rainy season, medical charity Medecins Sans Frontieres (MSF) said on Monday. More than 100,000 people have fled across the border to Chad since conflict broke out…
NEW YORK (Reuters) – U.S. consumer prices rose moderately in May, leading to the smallest annual increase in inflation in more than two years, though underlying price pressures remained strong, supporting views that the Federal Reserve would keep interest rates unchanged on Wednesday while adopting a hawkish posture. The Consumer Price Index (CPI) increased 0.1%…
LONDON (Reuters) – Analysts at leading investment banks expect Turkey’s new economic chiefs to start ramping up interest rates next week as part of a major reset of the country’s economic policies. President Recep Tayyip Erdogan, re-elected last month, has just appointed former U.S. banker Hafize Gaye Erkan as the new central bank governor. She…
By Milounee Purohit BENGALURU (Reuters) – The Bank of Canada will raise interest rates again in July to 5.00% after a surprise 25 basis point increase last week, according to economists polled by Reuters, who unanimously said the main risk was the central bank might have to do more. In the run-up to the BoC’s…
By Nayera Abdallah and Nadine Awadalla CAIRO (Reuters) – Egypt is allocating 127.7 billion Egyptian pounds ($4.14 billion) for its sprawling food subsidy programme out of a 3 trillion pound budget for the financial year starting on July 1, a document seen by Reuters on Tuesday showed. Egypt, a nation of 105 million people, is…
By Winni Zhou and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – China’s central bank lowered a short-term lending rate for the first time in 10 months on Tuesday, to help restore market confidence and prop up a stalling post-pandemic recovery in the world’s second-largest economy. The cut to the lending rate signals possible easing for longer-term rates…
By Cristiano Corvino MILAN (Reuters) -Supporters of former prime minister Silvio Berlusconi gathered outside his villa near Milan on a rainy Tuesday morning to honour the billionaire who dominated Italy’s politics, business and soccer world for nearly three decades. Berlusconi aged 86, three days after his readmission to the San Raffaele hospital in Milan, where…
