(Reuters) -U.S. Federal Reserve is considering ending an exemption that has allowed certain midsize banks to conceal losses on securities they hold, the Wall Street Journal reported on Friday, signaling a retightening of bank oversight is in the cards following last month’s failures of Silicon Valley Bank and Signature Bank. If approved, the move spearheaded…
By Jessica DiNapoli NEW YORK (Reuters) – Doing laundry is a drag. But after two years of price hikes on detergent, U.S. consumers may finally get some relief as Procter & Gamble Co deepens discounts on Tide, one of its biggest brands, according to a Reuters analysis of NielsenIQ data. Makers of consumer products like…
By Lucia Mutikani and Jonathan Cable WASHINGTON/LONDON (Reuters) – U.S. and Euro zone business activity gathered pace in April, according to surveys released on Friday, despite central bankers signaling they are nearing the peak of their interest rate hiking cycles designed to cool demand enough among consumers to bring high inflation down. S&P Global said…
STOCKHOLM (Reuters) – Sweden’s central bank will hike its policy rate by a half a percentage point next week as it grapples with soaring inflation, with a further quarter point to come in June, a poll by Reuters showed on Friday. Central banks around the globe have jacked up interest rates to tame levels of…
WASHINGTON (Reuters) – Alphabet Inc’s Google asked a court late Thursday to toss out several allegations made by Epic, Match and U.S. state attorneys general about how the search and advertising giant runs its app store for Android phones. Google’s motion is the company’s latest bid to end costly and time-consuming antitrust lawsuits. It has…
By Melanie Burton and Scott Murdoch MELBOURNE (Reuters) – As automakers and chemicals suppliers scramble to secure raw materials, resource-rich Australia has become a rare global bright spot with $37 billion worth of M&A deals in the first quarter, with the trend expected to continue in the near term. The increased dealmaking activity is forecast…
BERLIN (Reuters) – Volkswagen significantly increased deliveries in the first quarter despite weaker business in China, its most important single market, the German carmaker said on Friday. The group delivered 2.04 million vehicles to customers worldwide, up 7.5% compared with the same quarter last year, while in China, sales fell 14.5% to 644,500 vehicles. Sales…
(Reuters) -Deloitte will cut around 1,200 jobs or 1.5% of its U.S. workforce, the Financial Times reported on Friday, citing internal employee communications. The layoffs at the auditing firm will be higher in areas such as the financial advisory business, which has been affected by a slump in merger and acquisition activity, the newspaper said….
By Danilo Masoni and Joice Alves MILAN/LONDON (Reuters) -Short-sellers that bet against European banks are set to lose a billion dollars in April after anticipation of strong quarterly earnings helped the sector to recover from the shock downfall of Credit Suisse. Investors who set up bearish trades in the belief the sector’s stock prices would…
By Nelson Bocanegra BOGOTA (Reuters) – Analysts are divided on whether Colombia’s central bank board will hold the interest rate steady for the first time in 18 months or back one more increase in a tightening cycle meant to fight inflation, a Reuters poll showed on Friday. Fifteen of 26 analysts predicted the seven-member board…
