By Amruta Khandekar and Matteo Allievi (Reuters) -European shares edged slightly lower on Friday, but that did little to change their biggest weekly percentage jump in more than three months on hopes that easing inflation would allow the U.S. Federal Reserve to pause rate hikes soon. After five sessions of gains, the pan-European STOXX 600…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. import prices fell for a second straight month in June as an increase in the cost of fuels was more than offset by declines elsewhere, the latest indication that inflationary pressures in the economy are abating. With the inflation environment improving considerably, Americans are growing more optimistic about…
By Anirban Sen (Reuters) -Creative Artists Agency (CAA) is in advanced talks to sell a majority stake to French billionaire Francois-Henri Pinault in a deal that could value the Hollywood talent agency at over $7 billion, according to a person familiar with the matter. CAA’s talks with luxury sector tycoon Pinault, the CEO of Gucci-owner…
(Reuters) – The U.S. Treasury Department is asking primary dealers their views on what specific bonds it should issue more of when it needs to raise more funds through the bond market, and for details around how a likely bond repurchase program would work. The Treasury noted that it may need to “modestly” increase the…
STOCKHOLM (Reuters) – Finnish telecom gear group Nokia reported on Friday second-quarter sales of 5.7 billion euros ($6.4 billion), a comparable operating profit margin of 11%, and lowered its full-year outlook. Analysts polled by Refinitiv had estimated sales of 6.0 billion on average. Nokia said it now saw 2023 sales of 23.2-24.6 billion euros ($26.1-$27.6…
By Noor Zainab Hussain, Manya Saini and Saeed Azhar (Reuters) -Wells Fargo raised its annual forecast for net interest income (NII) after its profit surged 57% in the second quarter, sending its shares modestly higher. NII climbed 29% to $13.16 billion as the bank brought in more interest payments after the Federal Reserve increased borrowing…
By Jaiveer Shekhawat and Carolina Mandl (Reuters) -BlackRock Inc, the world’s biggest asset manager, handily beat second-quarter profit estimates but showed a slowdown in money inflows, sending shares down about 2%. The company’s adjusted profit of $9.28 per share leap-frogged analysts’ estimates of $8.46, according to Refinitiv IBES. BlackRock saw a 25% rise in second-quarter…
HANOI (Reuters) -Shareholders of Black Spade Acquisition, a special purpose acquisition company (SPAC) that has plans to merge with Vietnam’s electric automaker VinFast to allow a U.S. listing, have redeemed over 80% of their shares, the SPAC said on Friday. It was a setback for VinFast, which had initially planned a U.S. listing on its…
NEW YORK (Reuters) – S&P 500 company aggregate earnings for the second quarter are now seen down 8.1% from the year-ago quarter, compared with a 6.4% decline forecast by analysts a week ago, according to Refinitiv data Friday. (Reporting by Caroline Valetkevitch)
By Nidhi Verma, Shivangi Acharya and Krishn Kaushik NEW DELHI (Reuters) – India and the United Arab Emirates may announce the start of a rupee-dirham payment mechanism to settle bilateral trade during Prime Minister Narendra Modi’s visit to Abu Dhabi on Saturday, industry and government sources said. Sources said on Friday that India would use…
