A look at the day ahead in European and global markets from Ankur Banerjee For the second time this year, Fed Chair Jerome Powell will take the stage in the wake of a bank failure (that’s three in the US for those keeping count: SVB, Signature Bank and First Republic) and as worries over the…
(This May 2 story has been corrected to attribute 2022 SEC proposal following post-publication review in paragraphs 6 and 7) By John McCrank (Reuters) – The U.S. Securities and Exchange Commission will decide on Wednesday whether to adopt new rules for advisors to hedge funds and private equity funds aimed at increasing transparency, competition, and…
By Leika Kihara and Jihoon Lee INCHEON, South Korea (Reuters) -Japan and South Korea held their first finance leaders’ meeting in seven years on Tuesday and agreed to resume regular dialogue as tensions in the wider region and slowing growth prod them to increase co-operation and mend strained relations. The resumption of bilateral financial discussions…
(Reuters) – S&P Global on Tuesday slashed First Republic Bank’s credit rating deeper into junk territory after California banking regulators seized the U.S. lender and sold its assets. S&P cut its rating to ‘CC’ from ‘B+’ and said it expects default to be a “virtual certainty”. On Monday, JPMorgan Chase & Co struck a deal…
By Manya Saini, Niket Nishant and Koh Gui Qing (Reuters) -Hindenburg Research, the short investor whose reports on companies have erased a big chunk of their value, criticized Icahn Enterprises LP (IEP) on Tuesday over the reporting of its finances, leading to a 20% drop in the shares of activist investor Carl Icahn’s firm. The…
By Chris Thomas, Dhanya Skariachan and Tanvi Mehta BENGALURU (Reuters) -Cash-strapped Indian airline Go First filed for bankruptcy on Tuesday, blaming “faulty” Pratt & Whitney engines for the grounding of about half its fleet. The move marks the first major airline collapse in India since Jet Airways filed for bankruptcy in 2019, and underscores the…
SYDNEY (Reuters) – Australian retail sales grew at their slowest annual pace in 14 months in March in a warning sign for consumption that will only get worse following a surprise hike in interest rates this week. Retail sales rose a modest 0.4% in March from February, when they edged up just 0.2%, data showed…
BOGOTA (Reuters) – Colombia’s central bank on Tuesday raised its outlook for 2023 inflation to 9.5% from 8.7%, reflecting persistent consumer price growth that has prompted the bank’s board to raise its benchmark interest rate beyond market expectations. The outlook, issued by the central bank’s technical team, influences the interest rate decisions adopted by the…
(Reuters) -Singapore’s Keppel Corp on Wednesday announced a major corporate restructuring, doing away with its conglomerate form and divide itself into three distinct units, in a bid to simplify and further grow its operations. The conglomerate, which has operations ranging from data centres to renewable energy assets, will restructure itself into three businesses — fund…
(This April 27 story has been corrected to clarify that the statement is attributed to FMC commissioner, not the Commission, in paragraph 15) By Francesco Guarascio and Khanh Vu HANOI (Reuters) – Tighter U.S. rules to ban imports from China’s Xinjiang are compounding pressure on Vietnam’s apparel and footwear makers, hitting a sector that has…
