By Manya Saini (Reuters) – A clutch of U.S. regional lenders on Thursday joined peers in reporting deposit outflows for the first quarter as customers spooked by a banking crisis moved funds to bigger institutions or sought higher yields in money market funds. Shares in Fifth Third Bancorp, Comerica, Truist Financial Corp and KeyCorp fell…
(Reuters) – Carmaker Stellantis is testing synthetic e-fuels, which are made with renewable energy, on 28 types of its internal combustion engines, a step it said on Thursday could help decarbonise its existing European fleet. The announcement comes just weeks after the European Union opened a legal route in its phase-out of carbon dioxide-emitting cars…
BRASILIA (Reuters) – Brazil’s government announced a package of 13 measures on Thursday to ease consumer access to credit and reduce associated costs in the capital and insurance markets, a move the new leftist administration hopes will boost investment and revitalize a slowing economy. Among the measures is the federal government’s proposal to provide counter-guarantees…
MOSCOW (Reuters) – The value of Russia’s exports fell 35% year-on-year in the first quarter of 2023, due in part to a Western price cap on some Russian oil products, Russia’s central bank said on Thursday. A fall in exports and a recovery in imports helped push the rouble this month to its weakest level…
By Khushi Mandowara (Reuters) – U.S. hospital operators are expected to report strong revenue for the first quarter, while investors will also focus on results for cues on the impact to future earnings following an end to COVID-related insurance protection. Beginning April 1, states were allowed to begin the process of re-determining if people qualify…
PARIS (Reuters) – The global wine trade reached record-high value last year, supported by a sharp rise in prices, but the amount of wine sold fell due to weaker demand and logistical problems, an industry body said. The International Organisation for Vine and Wine (OIV) said on Thursday that global wine exports in 2022 stood…
WASHINGTON (Reuters) – U.S. existing home sales fell in March as a reversal in mortgage rates likely pushed buyers back to the sidelines, but there are tentative signs that the housing market slump is close to reaching a bottom. Existing home sales dropped 2.4% to a seasonally adjusted annual rate of 4.44 million units last…
MOSCOW (Reuters) -Inflationary risks in Russia must decrease in order to create room for interest rate cuts, Central Bank Governor Elvira Nabiullina said on Thursday, in hawkish comments a week before the bank next sets interest rates. The central bank has become more wary of inflation this year, warning of the risks of a widening…
BRASILIA (Reuters) – Brazil’s Secretary of Economic Reforms Marcos Barbosa said on Thursday that the credit package announced by the government aims to strengthen the credit market in the long term, paving the way for the country’s capital market to become as robust or larger than the 5 trillion reais ($988 billion) banking market. Speaking…
By Aditya Soni and Akash Sriram (Reuters) -A recent pullback in commodity prices will aid Tesla Inc’s bruised margins only in the second half of the year, signalling more near-term pain for the electric-car maker which has been cutting prices to prop up sales. Chief Financial Officer Zachary Kirkhorn said on Wednesday that battery material…
