By Carolina Mandl NEW YORK (Reuters) – Big global money managers got rid of a high volume of Chinese equities in recent days, while adding U.S. energy shares to portfolios at a near-record pace, according to a Goldman Sachs report. Managers decided to sell Chinese equities amid heightened geopolitical tensions between the world’s second largest…
(Reuters) – State Street Corp reported a first-quarter profit on Monday that missed analysts’ estimates, hurt by a fall in fee income due to the recent U.S. banking crisis, sending the company’s shares down 10% in premarket trading. The collapse of two regional lenders in the United States last month shook investor confidence, raised liquidity…
By Yuvraj Malik (Reuters) – Netflix Inc is expected to report that it added some 2 million subscribers in the first quarter and investors will scrutinize whether recent price cuts and the launch of an ad-supported plan are tempting people to subscribe and stay on. The company, which lost 200,000 subscribers in the year-ago quarter,…
FRANKFURT (Reuters) – The European Central Bank should stop relying on banks’ self-assessments when setting capital requirements and do its own homework instead, independent experts said on Monday. It was the most notable recommendation in a report commissioned by the ECB to evaluate its work on the key task as the euro zone’s top financial…
(Reuters) – M&T Bank Corp beat Wall Street estimates for first-quarter profit on Monday, as the U.S. Federal Reserve’s rapid rate hikes to tame high inflation boosted the lender’s interest income. U.S. banking heavyweights have also reaped windfalls from higher interest payments in the first quarter, brushing off a crisis prompted by the collapse of…
By Nidhi Verma and Krishn Kaushik NEW DELHI (Reuters) -India and Russia are discussing a free trade agreement (FTA), the Russian trade minister said on Monday, an announcement that could deepen bilateral commercial ties that have flourished since war broke out in Ukraine. The FTA talks mark a step-up in economic relations between the two…
(Reuters) -Porsche AG posted a record year-on-year sales increase of 18% in the first quarter, boosted by China sales, the company said on Monday. The German luxury carmaker delivered 21,365 cars in China, its largest single market, representing 21% growth over the previous year. The result there, which is the biggest among regions, was driven…
(This April 16 story has been corrected to say “setbacks”, not “delays”, in paragraph 2) By Rozanna Latiff and Yantoultra Ngui KUALA LUMPUR/SINGAPORE (Reuters) – Malaysia plans to introduce a second 5G network from next year, four sources told Reuters, in the latest policy shake-up aimed at dismantling monopolies and promoting competition by Prime Minister…
By Giulio Piovaccari MILAN (Reuters) -Exor the holding company of Italy’s Agnelli family, will seek further opportunities to expand in healthcare after investing almost one billion euros ($1.1 billion) in the industry last year, CEO John Elkann said on Monday. After completing the sale of its reinsurer PartnerRE, Exor has around 6.5 billion euros in…
KUALA LUMPUR (Reuters) – The Malaysian government is re-evaluating a $3.9 billion settlement deal reached between the previous administration and U.S. investment bank Goldman Sachs over the 1MDB financial scandal, state news agency Bernama reported on Monday. Prime Minister Anwar Ibrahim said on Monday a government taskforce looking into 1MDB issues was scrutinising the 2020…
