(Reuters) – Fifth Third Bancorp on Thursday posted a better-than-expected second-quarter profit, as interest rate hikes by the U.S. central bank boosted its interest income. On an adjusted basis, the Ohio-based bank earned 87 cents per share, beating analysts’ average estimate of 83 cents, according to Refinitiv data. The bank’s shares, down 13% this year,…
(Reuters) – D.R. Horton Inc on Thursday raised its forecast for full-year revenue and homes closed, benefiting from strong demand and easing shortages of labor and construction supplies, sending its shares up 6% premarket. U.S. homebuilders are getting a boost from low existing homes inventory and pent-up demand. Meanwhile, house prices have resumed their upward…
By Panarat Thepgumpanat and Chayut Setboonsarng BANGKOK (Reuters) – Thailand’s parliament will hold another vote for a prime minister next week which cannot include the leader of election winners Move Forward, a deputy speaker said on Thursday, after rivals derailed his bid by blocking his re-nomination. Parliament’s move to deny Pita Limjaroenrat after a marathon…
By Nell Mackenzie LONDON (Reuters) – Global hedge funds exited trades in the past week at their fastest pace since January and at one of the highest rates seen in the last five years, as recession bets have yet to pay off, a Goldman Sachs note to clients showed on Wednesday. Hedge funds cut losses…
By Pete Schroeder WASHINGTON (Reuters) -A plan by the top U.S. banking cop to make the sector more resilient may have gotten a boost from the recent banking crisis, but still faces numerous challenges. Fed Vice Chair for Supervision Michael Barr has laid out a plan to increase capital requirements for the nation’s largest banks…
By Joanna Plucinska and Rajesh Kumar Singh LONDON/CHICAGO (Reuters) – North American tourists thronging the streets of Europe’s top destinations are set to fuel healthy earnings for airlines this quarter and onwards as they enjoy travelling after long pandemic lockdowns, analysts and aviation executives said. With Air France-KLM, Lufthansa, British Airways-owner IAG and others due…
LONDON (Reuters) – The Bank of England allotted 1.2 billion pounds ($1.55 billion)of one-week funds in its short-term repo (STR) operation on Thursday, the second-largest usage of the facility since it launched in October. The BoE launched the weekly STR last year as tool to help keep money market rates close to its official Bank…
PARIS (Reuters) – France’s post-Brexit success in attracting banks from London to Paris has exceeded expectations and is increasingly showing up in the country’s balance of payments, the central bank said on Thursday. After Britain’s 2016 decision to leave the EU, the French government lobbied international banks hard to shift European activities to Paris in…
By Valerie Volcovici and David Stanway BEIJING/SINGAPORE (Reuters) – Climate talks this week between China and the United States were buoyed by goodwill, but the world’s two biggest carbon polluters achieved more on righting their diplomatic relationship than battling climate change. Despite a strong rapport between the countries’ veteran envoys, expectations for a breakthrough were…
By Amy Tennery, Irene Wang, Nathan Frandino and Praveen Menon AUCKLAND (Reuters) -At least two people and an armed attacker were killed and five others wounded in a shooting in New Zealand’s largest city of Auckland on Thursday, hours ahead of the opening match of the Women’s soccer World Cup in the city. Prime Minister…
