By Noel Randewich (Reuters) – Who said corporate earnings were down? Fresh data shows earnings per share for S&P 500 companies were about flat in the first quarter, a major improvement over dour forecasts at the start of the reporting season. With first-quarter earnings season all but wrapped up, S&P 500 companies are on track…
MOSCOW (Reuters) – VTB, Russia’s second largest bank, will sell its stake in one of Russia’s biggest grain traders, Demetra-Holding, and is in negotiations with both Russian and foreign buyers, CEO Andrei Kostin told Reuters in an interview. Demetra has a network of grain elevators, major deep sea grain terminals and its own logistics. It…
MOSCOW (Reuters) – Russian state-owned lender VTB will see profit of “not less” than 400 billion roubles ($4.9 billion) in 2023 after a bumper first five months of the year and a record loss last year, CEO Andrei Kostin told Reuters in an interview. Profit in the first five months of this year totalled 239…
By Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) -European shares slipped on Friday, rounding off a lacklustre week that saw investors step to the sidelines ahead of crucial updates from the U.S. Fed and European Central Bank (ECB), while Croda slid on a tepid profit outlook. The pan-European STOXX 600 index closed 0.2% down and…
By Nupur Anand NEW YORK (Reuters) – Minority-owned banks in the U.S. have stayed resilient during this year’s industry turmoil thanks in part to government and industry support, despite concerns that they would struggle to survive, executives said. Minority depository institutions, or MDIs, “have emerged stronger now coming out of the pandemic and the recent…
(Reuters) – Pandemic-related disruptions to global supply chains and the effects of Russia’s war in Ukraine have driven up prices of energy, commodities and other necessities. Here’s how governments are trying to help hard-hit consumers and companies: AMERICAS: * U.S. President Joe Biden’s drug pricing reform, part of the Inflation Reduction Act, penalises drugmakers for…
By Rod Nickel and Steve Scherer WINNIPEG, Manitoba (Reuters) -Canada on Friday extended Ukraine’s tariff-free access for most goods, but tightened access for eggs, poultry and dairy, sectors that are protected under a supply-management system. Finance Minister Chrystia Freeland said tariff relief for Ukrainian goods such as steel – a temporary measure started a year…
By Ross Kerber (Reuters) – Shareholder support for proxy resolutions on topics including climate change and workforce diversity dropped significantly this spring, analysts said, as tough proposals from activists met with growing political pressure on fund firms’ voting. Halfway through the shareholder annual meetings of Russell 3000 companies, average support for voted resolutions on environmental…
By John Revill and Noele Illien ZURICH (Reuters) -UBS and the Swiss government agreed on Friday how they will share losses linked to the bank’s emergency takeover of Credit Suisse, clearing the way for the deal to close within days, and creating a giant Swiss bank and cementing its position as a global wealth manager….
By Asif Shahzad and Gibran Naiyyar Peshimam ISLAMABAD (Reuters) -Pakistan’s government will target a budget deficit of 6.54% of economic output in the fiscal year starting on July 1, the finance minister said on Friday, slightly below the current year’s revised estimate of 7%. Finance Minister Ishaq Dar announced the target during his budget speech…
