By Manya Saini (Reuters) -U.S. bank stocks fell and a key regional index hit a near two-week low on Thursday amid lingering worries about the health of the lenders in the aftermath of the crisis in regional banks and ahead of second-quarter results that start next week. The KBW Regional Banking Index, which hit its…
By Foo Yun Chee BRUSSELS (Reuters) -Amazon’s $1.7 billion acquisition of robot vacuum cleaner maker iRobot may reduce competition and strengthen Amazon’s position as online marketplace provider, EU antitrust regulators warned on Thursday. The European Commission opened a full-scale investigation and will decide by November 15 whether to clear or block the deal. “We continue…
ZURICH (Reuters) -UBS’s flagship global wealth management business on Thursday announced a raft of management changes triggered by the Swiss bank’s takeover of Credit Suisse. Several former Credit Suisse managers have got jobs in the changes which affect roughly 180 executives and mainly take effect from July 17. Former Credit Suisse executive Michael Marr will…
By David Milliken and Andy Bruce LONDON (Reuters) -British house building fell in June at the sharpest pace in more than 14 years, apart from two months early in the COVID-19 pandemic, as higher borrowing costs dampened demand and weighed on the broader construction sector, a survey showed on Thursday. The S&P Global/CIPS construction Purchasing…
By Milounee Purohit BENGALURU (Reuters) – The Bank of Canada will raise interest rates by a quarter-point for a second straight meeting to 5.00% on July 12 following a five-month pause earlier this year and then hold well into 2024, according to a majority of economists polled by Reuters. While that is the new expected…
By Ananta agarwal (Reuters) – Small U.S. homebuilders are backing off from bringing more houses to the market, discouraged by a banking crisis-led credit squeeze and rising borrowing costs, industry experts said, exacerbating the shortage of new homes. The housing market, which is one of the biggest casualties of the fastest rate-hike cycle in the…
(Reuters) – Pfizer has invested $25 million to buy a minority stake in Caribou Biosciences, making it the latest small biotechnology firm to attract the pharmaceutical giant’s interest. The news lifted shares of Caribou more than 61% in early trade. Pfizer purchased nearly 4.7 million Caribou shares at $5.33 per share, Caribou said on Thursday,…
By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits increased moderately last week, while private payrolls surged in June, suggesting that the labor market remained on solid ground despite growing risks of a recession. The reports on Thursday, which also suggested that laid-off workers were experiencing shorter spells…
By Renee Maltezou and Lefteris Papadimas ATHENS (Reuters) -Greece’s re-elected Prime Minister Kyriakos Mitsotakis on Thursday pledged his conservative government would “fix the sins of the past” and over the next four years cut taxes, boost wages and pensions, and repay bailout debts earlier than expected. Mitsotakis, 55, won 158 sets in the 300-seat parliament…
By Shreyashi Sanyal (Reuters) -European shares slumped to their lowest level in three months on Thursday, as heightened concerns about further interest rate hikes globally dented risk sentiment, while shares of Embracer group slid after a discounted share issue. The pan-European STOXX 600 index deepened losses by the close to fall 2.3% to its lowest…
