By Samrhitha A (Reuters) – Shares of Hewlett Packard Enterprise Co slumped more than 10% on Wednesday as its lackluster revenue forecast fanned worries of a slowdown in cloud spending this year. The company was set to shed nearly $2 billion in market value if losses hold through the session. They have lost about 3%…
By John Kemp LONDON (Reuters) – U.S. domestic banks reported a widespread tightening of lending standards by the end of the first quarter of 2023 – even before the full impact of the regional banking crisis had been felt. Stricter lending criteria are likely to slow the flow of credit to small businesses and households…
By Maria Martinez BERLIN (Reuters) -Germany on Wednesday joined a list of major euro zone economies reporting a bigger than expected drop in inflation, suggesting that price growth may be falling more quickly than expected, adding to arguments for caution on rate hikes. The European Central Bank has raised rates by a record 375 basis…
SHANGHAI (Reuters) – Elon Musk is scheduled to travel to Tesla’s Shanghai factory on Wednesday night to meet with staff there, two sources familiar with the matter said. The Tesla CEO’s private jet landed in the financial hub earlier in the day after flying from Beijing, according to flight tracking provider Variflight. Tesla did not…
LONDON (Reuters) – A wave of debt defaults by companies in the United States and Europe is imminent, due in part to the fastest monetary tightening cycle in 15 years, Deutsche Bank said in its annual default study released on Wednesday. Deutsche expects default rates to peak in the fourth quarter of next year. It…
May 31 (Reuters) – U.S. Labor Department report of job openings and labor turnover, seasonally adjusted. Rates (percent) Apr 2023 Mar 2023 Apr 2022 Job openings (1) 6.1 5.9 (r) 7.2 Hires (2) 3.9 3.9 (r) 4.3 Separations (3) 3.7 3.9 (r) 4.1 Quits (4) 2.4 2.5 3.0 Layoffs and discharges 1.0 1.2 0.9 Levels…
(Corrects to describe bill as bipartisan, not Republican) WASHINGTON (Reuters) – The U.S. House of Representatives will have the votes needed to pass a bipartisan debt ceiling bill later on Wednesday, Representative Tom Emmer, the No. 3 House Republican, said. “We’re going to have the votes tonight. This will pass,” Emmer told CNN in an…
WASHINGTON (Reuters) – The bipartisan debt ceiling bill will become law, U.S. House of Representatives Speaker Kevin McCarthy said on Wednesday, hours ahead of a much-anticipated vote in the chamber on the measure, which if passed would then go to the Senate for a vote. “It’s going to become law,” McCarthy told reporters. (Reporting by…
By Nevzat Devranoglu ANKARA (Reuters) – Turkey’s central bank signalled at a meeting with senior bankers that it would respond positively to the banks’ requests to soften some measures which it has taken recently, three participants in the meeting said on Wednesday. A government-backed scheme to protect lira deposits from depreciation, known as KKM accounts,…
By Prerana Bhat and Indradip Ghosh BENGALURU (Reuters) – U.S. home prices will decline less than previously expected this year before stagnating in 2024, despite widespread expectations interest rates will remain higher for longer, according to property analysts polled by Reuters. Even though the U.S. Federal Reserve has embarked on its most aggressive tightening cycle…
