By Laura Sanicola (Reuters) -U.S. crude oil inventories last week fell more than forecast as refinery runs and exports rose, while gasoline stockpiles jumped unexpectedly on disappointing demand, Energy Information Administration data showed on Wednesday. Crude inventories fell 4.6 million barrels in the week to April 14 to 466 million barrels, more than…
By Saeed Azhar and Tatiana Bautzer NEW YORK (Reuters) -Morgan Stanley plans to buy more wealth and asset management businesses, and is keeping an eye on potential targets, CEO James Gorman said on Wednesday. While a deal is not imminent, the bank is interested in private banking opportunities in the United States, Asia and parts…
(Reuters) – U.S. banking heavyweights set aside billions of dollars in the first quarter to account for potential bad loans, as rising interest rates turn up the heat on borrowers who are just starting to see some relief from inflation. Below is an outline of how banks have managed their reserves since 2020: JPMorgan Chase…
WASHINGTON (Reuters) – The U.S. on Wednesday extended for three months a license that protects Venezuela-owned oil refiner Citgo Petroleum from creditors trying to seize its assets to recoup pending debts. U.S. protections on the Houston-based refiner have prevented bondholders and other creditors from moving ahead on billions of dollars in claims against Venezuela issued…
By Leroy Leo and Khushi Mandowara (Reuters) -Abbott Laboratories said on Wednesday delayed non-urgent surgeries had resumed globally three years into the COVID-19 pandemic as hospital staff shortages eased and customers became regular with health check-ups, sending its shares up 5%. The much-awaited recovery in elective surgeries led the company to effectively raise forecast for…
By Clara Denina and Yadarisa Shabong LONDON (Reuters) -Glencore has told Teck Resources shareholders it is willing to improve its $22.5 billion takeover offer, raising pressure on the Canadian miner to ditch a restructuring plan and sit down at the negotiating table. In an open letter on Wednesday, Glencore said it would consider taking the…
LONDON (Reuters) – A number of banks including Morgan Stanley and Deutsche Bank on Wednesday revised upward expectations for further UK interest rate hikes as a second straight day of data suggested price pressures remain elevated. Britain was the only country in western Europe with double-digit inflation in March after it fell less than expected,…
By Abinaya V and Aditya Soni (Reuters) -Tesla Inc cut prices for some of its Model Y and Model 3 vehicles in the U.S. for the sixth time this year to juice demand as competition among electric-vehicle makers heats up around the world. The cuts came ahead of Tesla’s first-quarter earnings, due after markets close…
By Nick Carey and Sachin Ravikumar LONDON (Reuters) -Jaguar Land Rover (JLR) will invest 15 billion pounds ($19 billion) over the next five years in electric vehicles (EVs) and promised on Wednesday to deliver a new electric Jaguar in 2025 as the British luxury carmaker plays catch-up with rivals. JLR, which is owned by India’s…
SAO PAULO (Reuters) – Brazil’s Treasury Secretary Rogerio Ceron said on Wednesday that a new fiscal framework proposed by the government was designed to last for a long time, facing different economic and political cycles. “It is a sustainable path, unlike past solutions that had an expiration date,” Ceron said in an interview with GloboNews,…
