By Stephanie Kelly and Nia Williams NEW YORK (Reuters) – U.S. crude oil inventories at the Cushing, Oklahoma, storage hub have risen to their highest in two years, as outages at Midwestern refiners crimp demand and higher flows from Canada add to supply. Stockpiles at Cushing, the delivery point for U.S. crude oil futures, have…
By Victoria Waldersee BERLIN (Reuters) – While investors welcomed Volkswagen’s decision to audit its jointly-owned plant in Xinjiang, China, some are questioning how it will be run and whether it is enough to eliminate the risk of forced labour in the supply chain. Deka, Union Investment and the Dachverband Kritische Aktionaere (Umbrella Organisation for Critical…
By John McCrank NEW YORK (Reuters) – Nasdaq’s eye-popping $10.5 billion bet on the little known financial software company Adenza will help the exchange operator vastly expand the market for its products, from risk management and regulatory software to anti-financial crime technology. Nasdaq said on June 12 it would buy Adenza from private equity firm…
By Makiko Yamazaki TOKYO (Reuters) -Cosmo Energy Holdings’ shareholders approved a “poison pill” takeover defence on Thursday, in a controversial vote that excluded certain activist shareholders and has implications for hostile takeover attempts in Japan. It marks the second so-called majority-of-minority vote on a poison pill in Japan. They prevent specific shareholders from voting, a…
(Reuters) -Accenture fanned concerns about dwindling IT spending on Thursday with a quarterly revenue forecast that was below Wall Street estimates, sending its shares down more than 5%. CEO Julie Sweet said clients were “holding back on small deals” in the face of an uncertain economic outlook, mirroring remarks from Cognizant Technology Solutions last month….
(Reuters) – U.S. existing home sales ticked higher in May to snap a two-month skid with condominium sales accounting for the modest gain, and selling prices nationally fell from a year earlier by the most in more than a decade, showing the uneven nature of the sector’s recovery from last year’s downdraft. Existing home sales…
By Howard Schneider WASHINGTON (Reuters) – U.S. Federal Reserve Gov. Michelle Bowman said Thursday that “additional policy rate increases” will be needed to control inflation she feels has essentially flatlined at a high level since late last year. The U.S. central bank “has made progress in lowering inflation, but despite the significant tightening of monetary…
PARIS (Reuters) – The International Monetary Fund has reached its target of making $100 billion in special drawing rights available for vulnerable countries, Managing Director Kristalina Georgieva told a summit held in Paris on Thursday. Rich countries agreed in 2021 to rechannel some of their unused IMF special drawing rights, an international reserve currency, to…
LONDON (Reuters) – Inflation is cooling, meaning major central banks can start to think about ending interest rate hikes even if most are not there just yet. The Bank of England, an outlier in some ways given the persistence of British inflation, on Thursday raised its benchmark rate by a bigger-than-expected half a percentage point….
By Davide Barbuscia NEW YORK (Reuters) -A hawkish tilt from Federal Reserve Chair Jerome Powell hasn’t been enough to convince some investors that the central bank is unlikely to hold U.S. interest rates at elevated levels for much longer. Testifying to U.S. lawmakers, Powell on Wednesday said the Fed had a “long way to go”…
