By Tristan Chabba and Anna Mackenzie (Reuters) -Europe’s biggest hotel group Accor on Thursday forecast higher revenue per available room (RevPAR) for 2023 as Chinese travelers are expected to return, after its annual core profit beat expectations on strong December activity. Hotel chains were hit hard by China’s strict pandemic restrictions and are now hoping…
(Reuters) -Switzerland’s biggest bank UBS Group AG is looking to apply for a mutual fund license in China, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The Swiss bank is in informal talks with the China Securities Regulatory Commission (CSRC) about its intention to apply, the report said. UBS plans…
By Tejaswi Marthi (Reuters) – Investors returned to placing bearish bets on all Asian currencies shortly after on the increasing likelihood that the U.S. Federal Reserve would continue hiking rates for longer, helping the dollar regain its lost momentum, a Reuters poll showed on Thursday. Short bets on the Indian rupee firmed further to hit…
By Joice Alves LONDON (Reuters) – Europe’s banks, which enjoyed a stellar fourth-quarter that yielded a surge in earnings growth to 15-year highs, are still looking cheap and could have more room to rally. Economic data hasn’t been as bad as many had feared. The euro zone is expected to stagnate rather than contract, while…
By Joice Alves LONDON (Reuters) – Europe’s banks, which enjoyed a stellar fourth-quarter that yielded a surge in earnings growth to 15-year highs, are still looking cheap and could have more room to rally. Economic data hasn’t been as bad as many had feared. The euro zone is expected to stagnate rather than contract, while…
By Lawrence White, Iain Withers and Sinead Cruise LONDON (Reuters) – British banks face a tougher battle for mortgage customers and business borrowers in 2023, as rising costs and deposit rates paid to long-suffering savers threaten to outpace flatlining profit margins, senior industry executives and analysts said. The 2022 annual results from the country’s four…
A look at the day ahead in European and global markets from Wayne Cole. After a rather flat Wall St finish, Asian stocks have done better so far on Thursday thanks in part to an earnings beat from chip designer Nvidia Corp. Its stock surged almost 9% after the bell and helped lift Nasdaq futures…
(Reuters) – Alphabet Inc’s Google is rolling out tests that block access to news content for some Canadian users, the company confirmed on Wednesday, in what it says is a test run of a potential response to the government’s online news bill. The “Online News Act,” or House of Commons bill C-18, introduced in April…
By Lananh Nguyen NEW YORK (Reuters) – Bank of America Corp (BofA) amassed $1.2 billion in expenses for litigation and regulatory investigations last year including fines and settlements, according to a company filing on Wednesday. The cost is a major jump from $164 million recorded by the second-largest U.S. lender in 2021 and $823 million…
(Reuters) – Medibank Private Ltd on Thursday beat profit estimates for the first half of fiscal 2023, as its international business received a boost from students, workers and visitors returning to the country. Australia’s biggest health insurer posted a net profit after tax of A$233.3 million ($159.41 million) for the six months ended Dec. 31,…
