By Shreyashi Sanyal (Reuters) -European shares ended Friday on solid ground aided by a boost in shares of HSBC and from energy firms that tracked a rebound in oil prices, but wrapped a week packed with high-profile central bank meetings and heavy earnings with a decline. The pan-European STOXX 600 index closed 1.1% higher, with…
By Ann Saphir and Howard Schneider (Reuters) – A critical flow of data heading to the Federal Reserve’s June meeting, and a possible rate hike pause, began Friday with a stronger-than-anticipated jobs report showing U.S. payrolls and wage growth remain resilient. Data showing the economy added 253,000 jobs in April, with hourly wages growing at…
By Trevor Hunnicutt and Andrea Shalal WASHINGTON (Reuters) – U.S. President Joe Biden picked a senior aide, Neera Tanden, to replace Susan Rice as his domestic policy adviser, the White House said in a statement. Tanden, a longtime Democratic aide who served in two prior presidential administrations, will take on one of the most senior…
By Valentina Za MILAN (Reuters) -Intesa Sanpaolo, Italy’s biggest bank, raised its 2023 profit goal on Friday after first-quarter net income nearly doubled thanks to higher interest rates and shrinking loan loss provisions. The lender forecast 7 billion euros ($7.7 billion) in net profit this year, having said in February that it would top last…
(Reuters) – The U.S. Securities and Exchange Commission (SEC) has issued its largest ever award of nearly $279 million to a whistleblower whose information helped the regulator’s enforcement action, it said on Friday. The regulator did not disclose the case concerned in its statement. The award is more than double the $114 million that it…
By Lawrence White and Iain Withers BIRMINGHAM, England (Reuters) -HSBC soundly defeated a bid to break-up the bank and spin-out its lucrative Asian business at its annual investor meeting in Birmingham in England on Friday, but still faced a rebellion against its board and pay for top bosses. Europe’s biggest bank had faced proposals submitted…
By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Broadcom’s Chief Executive Hock Tan on Friday will try to convince EU antitrust enforcers that his proposed $61 billion bid for cloud computing firm VMware, which has triggered scrutiny on both sides of the Atlantic, is pro-competitive. Tan, flanked by his executives and lawyers, arrived early…
By Dietrich Knauth (Reuters) – Bankrupt crypto exchange FTX received U.S. bankruptcy court permission on Thursday to sell its LedgerX business for $50 million, raising additional funds to repay creditors. At a hearing in Wilmington, Delaware, U.S. Bankruptcy Judge John Dorsey signed off on FTX’s sale of LedgerX, its non-bankrupt crypto derivatives trading platform, to…
By Jonathan Stempel OMAHA, Nebraska (Reuters) – One of Berkshire Hathaway Inc’s longest-serving directors said Greg Abel has the ability and commitment to its culture that makes him an ideal fit to lead the $700 billion-plus conglomerate now run by Warren Buffett, but that a transition isn’t likely to happen soon. Questions about how long…
By Elvira Pollina and Giuseppe Fonte ROME (Reuters) -Italy’s Treasury is ready to back a joint purchase proposal for Telecom Italia’s (TIM) grid by KKR and state lender CDP in a bid to end a stalemate over the sale process of the phone group’s prized asset, sources told Reuters. TIM directors on Thursday set a…
