By Ahmad Ghaddar and Maha El Dahan LONDON/DUBAI (Reuters) -OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting on Sunday despite a fall in oil prices toward $70 per barrel, four sources from the alliance told Reuters. OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies…
By Roman Churikov MOSCOW (Reuters) – Russian designers and brands are helping the retail sector gradually recover from a turbulent 15 months of store closures and slumping demand, with new labels plugging the gap left by foreign rivals and shoppers tentatively returning. Hundreds of foreign retailers shut up shop in response to Russia despatching troops…
(Reuters) – Nvidia Corp’s market capitalisation jumped the most in May among the top 20 global companies by market value, adding $248 billion, with a majority of the gains coming in the last four sessions, according to Refinitiv data. The chipmaker briefly joined the $1 trillion valuation club, as investors bet on its potential to…
(This May 31 story has been corrected to clarify that Jordan’s comment referred to another bank and not Credit Suisse, in paragraph 9) ZURICH (Reuters) – Swiss National Bank Chairman Thomas Jordan on Wednesday defended recent interest rate hikes to tackle inflation, saying they were neither damaging for Swiss financial stability nor responsible for the…
By Maria Martinez BERLIN (Reuters) – Rising rents, less venture capital and a shortage of talent are taking the shine off Berlin as a hub for startups. “The one single thing more difficult to find in Berlin than an apartment is a programmer,” said Avitosh Sawhney, 36, who moved his tech startup Ynertia to the…
By Huw Jones LONDON (Reuters) – How rules are applied to banks and the calculation of their liquidity buffers should be reviewed following recent turmoil in the banking sector, Klaas Knot, chair of the G20’s Financial Stability Board said on Thursday. European banking stocks plunged after the collapse of Silicon Valley (SVB) bank in the…
By Dominique Vidalon PARIS (Reuters) – French spirits group Remy Cointreau beat forecasts with record annual operating profits on Thursday, and reiterated its pledge to overcome a tough start to its new financial year, particularly in the United States. Chief Executive Eric Vallat told analysts he was confident about a second-half rebound as the company…
A look at the day ahead in U.S. and global markets from Mike Dolan If the Federal Reserve does skip raising interest rates this month it’s probably because it is as confused as everyone else about the health of the U.S. economy as June kicks off. Like a patient with a virus, incoming data appears…
MADRID (Reuters) -The European Central Bank (ECB) has gone through most of its monetary policy tightening to bring inflation back to its medium-term target of 2%, though the cycle is not quite over yet, ECB Vice-President Luis de Guindos said on Thursday. “A big part of the journey has been done but there is still…
MOSCOW (Reuters) – Russia’s most powerful mercenary, Yevgeny Prigozhin, said his Wagner group would fight on in Ukraine if his men got a separate section of the front without having to depend on “clowns” who ran swathes of the Russian armed forces. Celebrating his 62nd birthday on Thursday at a training camp, Prigozhin also confirmed…
