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…
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…
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…
LONDON (Reuters) – Ron DeSantis met Britain’s foreign minister James Cleverly during a visit to London on Friday aimed at boosting economic ties, ahead of an expected announcement by the Florida governor that he will run for U.S. president. DeSantis has been on an international tour this week as he prepares to launch a 2024…
By Jan Strupczewski and Balazs Koranyi STOCKHOLM (Reuters) – Last month’s turmoil in the banking sector barely affected European Union lenders but there remains an urgent need to make the sector even more resilient given how fast social media-created runs can sink banks, top EU officials said on Friday. EU finance ministers were briefed by…
(Reuters) – Scores of famous figures, including writers and actors, have signed an open letter urging Russian President Vladimir Putin to free opposition politician Alexei Navalny and to end what they called his torture in prison. Nobel prize-winning writers Svetlana Alexievich, JM Coetzee, Herta Mueller, Orhan Pamuk, Olga Tokarczuk and Mario Vargas Llosa were among…
(This April 25 story has been corrected to rectify the name of the firm to Morgan Stanley Investment Management, not Morgan Stanley Asset Management, in paragraph 14) By Stephen Culp NEW YORK (Reuters) – U.S. stocks sold off, closing deep in negative territory, and Treasury yields dropped on Tuesday as disappointing earnings and soft economic…
MOSCOW (Reuters) – Taking over the temporary management of foreign banks’ divisions in Russia would not be appropriate, Central Bank Governor Elvira Nabiullina said on Friday, after Moscow seized control of two European state-owned utility companies this week. President Vladimir Putin on Tuesday signed a decree placing the Russian assets of Finland’s Fortum and Germany’s…
By Vladimir Soldatkin, Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) – Russia’s central bank held its key interest rate at 7.5% on Friday, keeping the need for rate hikes on the table over lingering inflationary risks and flagging demand-side factors that could threaten its goal of returning inflation to target. Governor Elvira Nabiullina said the…
