By Nupur Anand, Niket Nishant and Saeed Azhar NEW YORK (Reuters) -Wall Street banks are expected to report higher profits for the second quarter as rising interest payments offset a downturn in dealmaking. For universal banks such as JPMorgan and Wells Fargo <WFC.N> that serve retail consumers as well as corporations, earnings per share (EPS)…
(Reuters) – Digital World Acquisition has named Eric Swider as CEO, handing the interim boss reins of the blank-check company that is looking to complete its planned merger with former U.S. President Donald Trump’s media and tech company. The move comes nearly four months after the special-purpose acquisition company (SPAC) ousted CEO Patrick Orlando, saying…
LONDON (Reuters) – The dollar’s grip as the dominant global currency is loosening, credit rating agency S&P Global’s top economist said on Tuesday. Aggressive U.S. sanctions such as last year’s freezing of hundreds of billions of dollar’s worth of Russia’s reserves has seen a flurry of countries start to do some trade in currencies other…
By Foo Yun Chee BRUSSELS (Reuters) – Amazon is challenging its inclusion in a group of companies subject to tough European Union online content rules, in a move that may prompt other tech giants to follow suit. The challenge at the Luxembourg-based General Court, Europe’s second highest, is the first by a Big Tech company…
WASHINGTON (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday that the IMF expects global growth around 3% annually for the next five years, well below historical averages of about 3.8%, which may pressure capital flows. Georgieva said in opening remarks at an IMF economics lecture that governments, particularly in emerging markets,…
(Reuters) – Boeing delivered 60 passenger jets in June as it rebounded from production issues, boosting its total for the first half to 266 airplanes and marking a 23% improvement from the first six months last year. Despite several production flaws that dogged deliveries over the half, the U.S. planemaker appears on track to meet…
WASHINGTON (Reuters) – The U.S. Treasury Department on Tuesday said it was calling for Large Position Reports from entities holding more than $10.2 billion worth of a six-month Treasury bill maturing on June 8, around the department’s deadline for a potential default had Congress failed to raise the debt ceiling. The Treasury said it was…
NEW YORK (Reuters) – Former FTX cryptocurrency exchange executive Ryan Salame is under investigation by federal prosecutors for possible violations of campaign finance law, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Prosecutors are looking at money Salame gave his girlfriend, Michelle Bond, who ran unsuccessfully last year for the…
(Reuters) – U.S. banking giants are scheduled to report second-quarter results starting this week as the industry tries to move past the turmoil caused by the crisis in regional lenders earlier this year. An S&P index of U.S. bank stocks has fallen more than 9% this year as investors fret about the effect of high…
LONDON (Reuters) – Deutsche Bank said on Tuesday it now expects the Bank of England to raise interest rates by half a percentage point at its August meeting. Data released earlier in the day showed a key measure of British wages rose at the joint fastest pace on record. “For now, evidence of still more…
