By Scott DiSavino NEW YORK (Reuters) -Oil prices eased about 1% on Tuesday as worries that sluggish global economic growth could reduce energy demand outweighed Saudi Arabia’s pledge to deepen output cuts. Brent futures fell 42 cents, or 0.6%, to settle at $76.29 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 41 cents,…
TORONTO (Reuters) – Canadian economic activity expanded in May at the slowest pace in three months, Ivey Purchasing Managers Index (PMI) data showed on Tuesday. The seasonally adjusted index fell to 53.5 in May from 56.8 in April, posting its lowest level since February. The Ivey PMI measures the month to month variation in economic…
NEW YORK (Reuters) – U.S. hedge fund Citadel’s flagship portfolio posted a 6.14% return in the first five months of the year and its other portfolios also gained, an investor in the fund said on Tuesday. The Citadel Wellington fund, billionaire investor Ken Griffin’s flagship portfolio, ended the month with a 0.72% gain, the person…
By Davide Barbuscia NEW YORK (Reuters) – PIMCO said on Tuesday that this year’s banking turmoil has created opportunities for the U.S. bond giant to expand in areas which were previously the domain of regional banks. After three of the largest bank failures in U.S. history earlier this year, as well as the collapse of…
By Marc Jones and Koh Gui Qing LONDON/NEW YORK (Reuters) – World shares edged higher on Tuesday as investors mulled whether a recent rally in stocks has legs to run further, while Treasury yields drifted higher as traders pared bets that U.S. rate cuts are on the horizon given sticky price pressures. Wall Street, where…
By Darya Korsunskaya and Alexander Marrow (Reuters) -Russia recorded a marginal budget surplus in May, enabling it to slightly reduce its deficit for the first five months of the year to 3.41 trillion roubles ($41.9 billion), the finance ministry said on Tuesday, as monthly spending slowed. In January-May 2022 Russia posted a surplus of 1.59…
By Moira Warburton WASHINGTON (Reuters) -JPMorgan Chase & Co Chief Executive Officer Jamie Dimon said on Tuesday that he was not seeking public office as he met with a group of Democrats in the U.S. House of Representatives to discuss economic matters. Dimon told reporters he was not in Washington to discuss a possible political…
By Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) -European main share indices rose on Tuesday, supported by a jump in shares of healthcare giant Novo Nordisk, though gains were capped by worries of further interest rate hikes by major central banks in the face of slowing economic growth. The pan-European STOXX 600 index closed 0.4%…
BRASILIA (Reuters) – Brazil’s central bank abstained from involvement in developing the government’s comprehensive consumer debt renegotiation program unveiled on Monday, two central bank directors said on Tuesday. Speaking at a news conference, Renato Gomes, the director of the financial system organization, said that policymakers solely furnished information without actively contributing to the program’s design….
ROME (Reuters) – The long-serving chief executive of Pirelli has warned that the tyremaker’s independence is at stake because of the growing influence of its Chinese shareholder Sinochem, the Wall Street Journal reported. Pirelli CEO Marco Tronchetti Provera told government officials in Rome on Tuesday that Sinochem was trying to interfere with Pirelli’s management in…
