By Yoruk Bahceli (Reuters) – Savers across the euro zone are dashing for government debt to secure returns on their cash as banks struggle to keep up with surging interest rates. Leading the way is Italy, which sold a record 18.2 billion euro retail bond this month to increase domestic holdings of its debt. But…
A look at the day ahead in European and global markets from Tom Westbrook A red tide swept over Asia-session screens on Friday as markets took a hot Japanese inflation reading and the Bank of England’s super-sized rate hike as bad news for growth. Japan’s Nikkei looks set to snap a 10-week winning streak and…
By Nidhi Verma NEW DELHI (Reuters) – Indian state-run refiner BPCL is in talks with Rosneft to buy about 6 million metric tons (43.8 million barrels) of discounted Russian crude at a price based on the Dubai benchmark, according to three sources with direct knowledge of the matter. The deal would deepen India’s commitment to…
WASHINGTON (Reuters) – The United States and India declared themselves “among the closest partners in the world” on Thursday during a state visit by Indian Prime Minister Narendra Modi to Washington hosted by President Joe Biden. Washington has been frustrated by India’s close ties with Russia while Moscow wages war in Ukraine. Modi did not…
By David Shepardson WASHINGTON (Reuters) – The states of California, New York, Illinois, Minnesota, Washington and Wisconsin have joined a Federal Trade Commission (FTC) lawsuit to stop Amgen’s $27.8 billion deal to buy Horizon Therapeutics, according to a court filing on Thursday. Washington Attorney General Bob Ferguson said his state had joined the lawsuit because…
By Ernest Scheyder LAS VEGAS (Reuters) – Lithium producers are growing anxious that delays in mine permitting, staffing shortages and inflation may hinder their ability to supply enough of the battery metal to meet the world’s aggressive electrification timelines. Once a niche metal used primarily in ceramics and pharmaceuticals, lithium is now one of the…
NEW YORK (Reuters) – MSCI will continue to consult with financial market participants on a potential reclassification of Nigeria to standalone market from frontier market after recent changes to foreign exchange trading, the index provider said on Thursday. Nigeria’s central bank last week moved to liberalize the foreign exchange market and unify exchange rates, and…
(Reuters) – Quality of new vehicles sold in the United States is declining as factors such as growing use of technology and lower build quality of certain parts are making the models more “problematic”, according to automotive consultant J.D. Power. Build quality of certain parts such as audio systems and cup-holders have resulted in quality…
ZURICH (Reuters) -A group of Credit Suisse AT1 bondholders has filed a class action suit accusing former executives at the Swiss bank, including three past CEOs, of being responsible for the bank’s downfall. A lawsuit filed in a New York court on Tuesday accused former bosses Thomas Gottstein, Tidjane Thiam and Brady Dougan, and several…
By Huw Jones LONDON (Reuters) – Tougher accounting rules may be needed that force companies to write down goodwill faster and stop “overly optimistic” calculations, a global securities watchdog said on Thursday. Goodwill refers to the premium a company has paid for another company, above the net value of its assets. It has to be…
