(Reuters) – The Federal Reserve issued a detailed and scathing assessment on Friday of its failures to identify problems and push for fixes at Silicon Valley Bank before the regional U.S. lender’s March 10 collapse, and called for stricter rules for banks. Fed Vice Chair for Supervision Michael Barr called the review “unflinching,” describing the…
LISBON (Reuters) – The number of foreign tourists visiting Portugal surpassed 2.8 million from January through March, making it the best first quarter on record despite high global inflation and interest rates, data from the National Statistics Institute (INE) showed on Friday. Measuring only foreigners staying in Portuguese hotels, the number by far topped 1.8…
MILAN (Reuters) – Telecom Italia (TIM)’s CEO Pietro Labriola is expected to propose to directors to seek further improvements of multi-billion bids for the company’s landline grid at a board meeting on May 4, two sources familiar with the matter said on Friday. Rival suitors KKR and a consortium comprising Italian state lender CDP and…
(Fixes typographical error in Maliagros) By Summer Zhen, Carolina Mandl and Nell Mackenzie HONG KONG/LONDON (Reuters) -Five hedge funds interviewed by Reuters this week each gave details of a trading idea they think could result in a profit from the most significant turmoil to have roiled the banking sector since the 2008 financial crisis. The…
LONDON (Reuters) – Uncertainty over the economic outlook and the banking sector prompted investors to move money back into cash and gold in the week to Wednesday, according to BofA Global Research. But the current environment is tricky to trade, as evidenced by a push into perceived risky assets such as tech stocks and the…
(Reuters) – Investors put their cash in the relative safety of global money market funds in the seven days to April 26, on worries over a slowdown in global economic activity with the recent decline in U.S. companies’ quarterly earnings feeding pessimism. Data from Refinitiv Lipper showed investors purchased a net $42.68 billion worth of…
(Reuters) – U.S. money market funds drew massive inflows in the week to April 26 as investors preferred safer assets amid nagging worries about the regional banking sector and prospects of an imminent recession. Refinitiv Lipper data showed investors purchased a net $47.72 billion worth of U.S. money market funds in their biggest weekly net…
By Yoruk Bahceli and Davide Barbuscia AMSTERDAM/NEW YORK (Reuters) – In mid-March, as prices for U.S. Treasury bonds swung wildly following the collapse of Silicon Valley Bank, the trading desk at Legal & General Investment Management hit its top limits for both profit and loss several times in a single day. “We’d be swinging from…
(Reuters) -Microsoft Corp said on Friday it signed a 10-year deal with Nware to bring Xbox and Activision Blizzard games to the Spanish cloud-gaming platform, days after Britain blocked its $69 billion buyout of the “Call of Duty” maker. The agreement marks the latest effort by Microsoft to ease fears its purchase of Activision would…
(Reuters) – The U.S. House of Representatives on Friday voted to repeal President Joe Biden’s suspension of tariffs on solar panels from four Southeast Asian nations with manufacturing facilities owned by China. The resolution passed in a 221-202 vote. It will now be sent to the Democratic-controlled Senate for consideration. The White House has…
