By David Lawder (Reuters) -U.S. Treasury Secretary Janet Yellen said on Friday that the U.S. economy is on a path to maintain a strong labor market while reducing inflation, even if the economy cools a bit more. Yellen said in prepared remarks at a residential solar power company in New Orleans that strong household and…
By Stephen Culp NEW YORK (Reuters) – Wall Street closed sharply higher and the dollar softened on Friday as investors closed the books on a solid quarter, with data showing progress in the Federal Reserve’s efforts to tame inflation. All three major U.S. stock indexes surged, notching weekly, monthly and quarterly gains. “It’s a nice…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Following the busiest quarter on record, activist investors slowed down in the second three months of 2023 but are expected to mount more high-profile campaigns in the second half amid pent-up demand for acquisitions and a new way of voting. Investors including Elliott Investment Management, Engaged Capital and…
(Reuters) – Spotify Technology is mulling adding full-length music videos to its app, which could help the music streaming platform compete with TikTok and Alphabet Inc’s YouTube, Bloomberg News reported on Friday, citing people familiar with the matter. Spotify, which did not immediately respond to a Reuters request for comment, already allows artists to upload…
By Chuck Mikolajczak NEW YORK (Reuters) – The dollar index was lower on Friday following two straight days of gains, after economic data showed a cooling in consumer spending, raising some doubt about the potential aggressiveness of the Federal Reserve in fighting inflation. U.S. Treasury yields were also mostly lower after the data. The Commerce…
By Laura Sanicola (Reuters) -Oil prices settled higher on Friday but posted their fourth straight quarterly loss as investors worried that sluggish global economic activity could crimp fuel demand. Benchmark Brent crude futures for August delivery which expires on Friday, settled up 56 cents, or 0.8%, at $74.90. In the three months to the end…
FRANKFURT (Reuters) -Deutsche Bank’s head of human resources, Michael Ilgner, has decided to leave the bank, Deutsche Bank announced on Friday, the latest in a spate of management changes. The move follows an investigation earlier this year into Ilgner’s purchase of the bank’s own bonds just days before the lender reported earnings, a move that…
MILAN (Reuters) – Italy aims to generate nearly two thirds of its electricity from renewable energy sources by the end of the decade, the energy ministry said on Friday, slightly improving targets made public three years ago. In a revision of the country’s energy and climate plan, the ministry said Italy aimed to get 65%…
By Jan Lopatka PRAGUE (Reuters) – Cyanide maker Draslovka is considering an equity fundraising worth hundreds of millions of dollars support the roll out of new technology that could help miners slash use of cyanide, its CEO said in an interview on Friday. The privately-held Czech company is the world’s leading sodium cyanide maker. The…
By Amruta Khandekar, Matteo Allievi and Bansari Mayur Kamdar (Reuters) – European shares rose on Friday as lacklustre data on China’s factory activity spurred hopes of more policy stimulus, but ended the quarter on a sombre note as worries about further monetary policy tightening and weak Chinese demand capped gains. The pan-European STOXX 600 index…
