By Lawrence White LONDON (Reuters) – Russia’s second-biggest bank VTB is closing the London-based arm of its investment banking unit VTB Capital, it said on Tuesday, as Western sanctions continue to throttle the international operations of Russia’s lenders. VTB Capital plc is “currently proceeding with an orderly wind-down of its positions and obligations,” the company…
(Reuters) – U.S. consumer spending on e-commerce is expected to hit a record $1 trillion this year thanks to the pandemic-driven shift to online shopping, a report from Adobe Analytics showed on Tuesday. The forecast represents a jump of 13% from 2021 and follows a total spend of $1.7 trillion over the course of two…
By John McCrank NEW YORK (Reuters) – Members Exchange (MEMX), the fastest growing U.S. stock exchange, said on Tuesday it plans to launch an options exchange in the fourth quarter, pending regulatory approval, that will seek to reduce industry costs. MEMX, which counts some of Wall Streets biggest firms among its investors, including BlackRock Inc,…
(Reuters) – U.S. stock index futures edged higher on Tuesday ahead of the Federal Reserve’s two-day policy meeting, with investors also assessing the fallout from fresh COVID-19 restrictions in China. Traders see a 91% chance of a 25 basis point rate hike by the U.S. central bank at the conclusion of its meet on Wednesday….
(Reuters) -Three major U.S. airlines raised their forecasts for current-quarter revenue on Tuesday, highlighting a recovery in air travel as the Omicron variant loosens its grip on the country. Delta Air Lines Inc, United Airlines Holdings Inc and Southwest Airlines Co said demand for air travel was strong, allaying investor concerns about a hit to…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japan will closely watch exchange-rate moves as market stability was “very important,” Finance Minister Shunichi Suzuki said on Tuesday in the wake of the yen’s decline to a five-year low against the dollar. While Tokyo policymakers have traditionally favoured a weak yen for the boost it gives…
By Stefano Rebaudo (Reuters) – The euro rose on Tuesday on hopes of progress in peace talks between Ukraine and Russia despite soaring COVID-19 cases in China dampening risk appetite. Further talks between Ukrainian and Russian negotiators to ease the crisis were expected on Tuesday after discussions via video ended with no new progress announced….
LONDON (Reuters) -Britain on Tuesday said it would ban the export of luxury goods to Russia and impose a new 35% tariff on 900 million pounds ($1.2 billion) worth of Russian imports, including vodka, metals, fertilisers and other commodities. The step is the latest in a series of economic sanctions announced by the government to…
By Anna Ringstrom STOCKHOLM (Reuters) -H&M reported a 23% rise in first quarter sales on Tuesday, which was in line with market expectations, as the world’s second-biggest fashion retailer attempts to build on its recovery from the COVID-19 pandemic. Shares in Sweden’s H&M, which did not give any comment in its statement, were down 3%…
LONDON (Reuters) -A key money market indicator is now pricing U.S. interest rates peaking at a higher level than previously forecast, as traders bet that the Federal Reserve will prioritise stamping out inflation over fretting about risks to economic growth. As war in Ukraine sparks renewed commodity price surges and threatens more supply chain disruptions,…
