By Dietrich Knauth (Reuters) – Telecommunications and power contractor QualTek Services Inc filed for bankruptcy on Wednesday, armed with a restructuring deal that could slash $307 million of the company’s $625 million debt. QualTek filed for Chapter 11 protection in Houston, saying that increasing debt costs were beginning to cut into its operating budget, at…
By Herbert Lash NEW YORK (Reuters) -The dollar hit a fresh two-month high against a basket of peers on Wednesday, bolstered by recent signs of a resilient U.S. economy, while unease over U.S. debt ceiling talks kept investors moving to safe havens. The dollar is not seen posing an immediate risk, unlike certain Treasury securities,…
By Lawrence White and Koh Gui Qing LONDON/NEW YORK (Reuters) -World stocks dropped on Wednesday as U.S. debt ceiling talks dragged on without resolution, stoking a general malaise in markets that saw safe-haven assets such as the dollar hold around recent highs. But crude oil prices bucked the downtrend and kept rising, after a warning…
(Reuters) – U.S. prosecutors are reviewing stock trading by some of First Republic Bank’s employees during the lender’s recent collapse, Bloomberg Law reported on Wednesday, citing people familiar with the matter. (Reporting by Manya Saini in Bengaluru; Editing by Anil D’Silva)
By Nivedita Balu (Reuters) – Bank of Montreal and Bank of Nova Scotia on Wednesday missed quarterly profit estimates as they faced higher expenses and set aside more rainy-day funds, sending their stocks lower. The results come as investor confidence in the markets crumbles in the face of a relentless rate-hiking cycle and a U.S….
By Davide Barbuscia NEW YORK (Reuters) – Rating agency Moody’s expects the U.S. government will continue to pay its debts on time, but public statements from lawmakers during the debt ceiling negotiations could prompt a change in its assessments of the U.S. credit outlook before a potential default, a senior analyst said. Investors use credit…
(Reuters) – U.S. companies borrowed nearly 8% less in April than last year to finance equipment investments, industry body Equipment Leasing and Finance Association (ELFA) said on Wednesday. The companies signed up for new loans, leases and lines of credit worth $9.7 billion last month, compared with $10.5 billion a year earlier. “It is not…
By Arriana McLymore NEW YORK, NY (Reuters) – Amazon.com Inc investors voted against all 18 shareholder-led proposals during the e-commerce giant’s annual meeting on Wednesday, a preliminary tally by the company showed. The total exceeded Amazon’s 2022 record of 15 as environmental, social and governance (ESG)-focused investors pushed for changes ranging from warehouse workers rights,…
WASHINGTON (Reuters) – The International Monetary Fund said on Wednesday its executive board completed the first reviews of Rwanda’s loan program under the Resilience and Sustainability Facility and an accompanying policy program, allowing for an immediate, $98.6 million disbursement. In a statement, the Fund said Rwanda’s economy had robust growth in 2022 but faced challenges…
By Huw Jones LONDON (Reuters) -The European Union set out plans on Wednesday to cut how much retail investors pay banks and insurers for financial products to encourage investment and make its capital market deeper and more efficient. The retail investment package toughens up existing EU investment laws by including a ban on banks and…
