By Sinéad Carew (Reuters) -Shares of large and mid-sized U.S. banks sharply underperformed the broader market on Wednesday with the S&P 500 Banks Index closing down 2.0% while the benchmark S&P 500 Index fell 0.6% with worries about commercial real estate loans in focus among bank investors. Investors worried about potential losses among banks from…
(Reuters) – Argentina’s economy ministry is analyzing the launch of a voluntary asset conversion operation, it said in a statement on Wednesday, aiming to bring some relief to ailing government finances. In its statement following a meeting between the ministry’s finance chiefs and bank representatives, the ministry said the operation would seek to continue ordering…
DUBAI/LONDON (Reuters) -OPEC has not invited Reuters or Bloomberg news agencies to report on ministerial meetings in Vienna this weekend to discuss future oil policy, according to reporters, Bloomberg and an OPEC source on Wednesday. Ministers from the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+ that includes…
WASHINGTON (Reuters) – U.S. Senate Republican leader Mitch McConnell said he expected the debt ceiling bill to pass the House of Representatives on Wednesday and come to the Senate as soon as Thursday. “We anticipate the bill passing and coming over to us as soon as tomorrow,” McConnell told reporters at the U.S. Capitol. “We…
By Brendan O’Boyle and Isabel Woodford MEXICO CITY (Reuters) -Mexico’s central bank on Wednesday signaled it would hold the benchmark interest rate at its current all-time high for an extended period of time to bring inflation down to its target range. “To achieve orderly and sustained convergence of headline inflation to the 3% target, the…
By Trevor Hunnicutt, Krishn Kaushik and Rajesh Kumar Singh WASHINGTON/NEW DELHI (Reuters) – The Biden administration is poised to sign off on a deal that would allow General Electric Co to produce jet engines powering Indian military aircraft in that country, according to three people briefed on the decision. A deal finalizing the joint production…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. A batch of purchasing managers index reports from across the Asia-Pacific region will offer local markets direction on Thursday, with investors likely to be in a cautious mood following Wednesday’s global market moves. If the PMI data on…
By Kanishka Singh WASHINGTON (Reuters) – The United States has asked Mexico to review whether workers at a Draxton facility in the Mexican city of Irapuato were being denied the rights to freedom of association and collective bargaining, the office of U.S. Trade Representative Katherine Tai said on Wednesday. Since the U.S.-Mexico-Canada agreement on trade,…
By Huw Jones LONDON (Reuters) -The European Commission will propose greater transparency in the trading of credit default swaps of eight top banks to mirror rules in U.S. markets, a European Union document seen by Reuters showed on Wednesday. So-called single name credit default swaps (CDS) have come under regulatory scrutiny after the fall and…
By Karl Plume (Reuters) – A merger of U.S. grains merchant Bunge Ltd with rival Viterra would grow the combined entity’s businesses in the U.S., Brazil and Australia and may raise competition concerns in parts of Canada and Argentina, where key oilseed processing assets overlap, analysts said. Sources last week said Bunge and Glencore Plc-owned…
