(Reuters) -Shares of PacWest Bancorp jumped 24% on Monday and led a recovery in the battered U.S. banking sector after the lender sharply cut its quarterly dividend to shore up its finances. On Friday, Los Angeles-based PacWest said it would pay a dividend of 1 cent per common share, compared with its regular payout of…
(Reuters) -Social media platform Twitter Inc will remove accounts that have been inactive for several years, CEO Elon Musk said in a tweet on Monday. Musk added that users on the micro-blogging platform could see a drop in follower count. According to Twitter’s policy, users should log in to their account at least once every…
(Reuters) – Space-tourism company Virgin Galactic Holdings said on Monday that a four-member test flight will take place in May and that it aims to launch its first commercial flight in late June. Shares jumped 4% after the company said the May mission would be the final test of the spaceflight system and astronaut experience…
(Reuters) – Germany’s Merck KGaA has appointed Helene von Roeder as the new chief financial officer and member of the Executive Board after Marcus Kuhnert has decided to step down, the drugmaker announced on Monday. The changes would become effective from July 1, the company added. German real estate company Vonovia announced this month that…
(Reuters) – Contract drug manufacturer Catalent Inc said on Monday that it expects to “significantly” reduce its 2023 forecasts for revenue and core profit, and also delay releasing its third-quarter results by a week. Shares of the company fell about 20% before the bell. Catalent had, earlier in April, warned that slow production and higher-than-expected…
By Tom Westbrook and Alun John SINGAPORE/LONDON (Reuters) – Sterling hit an over-one-year high against the dollar on Monday as the greenback began the week under pressure, with traders betting it might have peaked along with U.S. interest rates while keeping a wary eye on looming inflation and loans data. The pound poked its head…
(Reuters) – Shares of U.S. regional banks gained sharply in premarket trading on Monday, as investors tiptoe back into the sector after the failure of First Republic Bank last week triggered another round of widespread sell-off. The collapse of three U.S. lenders in two months has sent shockwaves through the sector, with investors dumping shares…
By Selena Li HONG KONG (Reuters) – HSBC has agreed to buy out its China fund management joint venture partner, two people familiar with the matter said, as the Asia-focused bank pushes ahead with expansion in the world’s second-largest economy. HSBC, which currently owns a 49% stake in HSBC Jintrust Fund Management, has signed an…
HANOI (Reuters) – Chinese automaker BYD Co. plans to expand into electric vehicles manufacturing and assembly in Vietnam, according to a Vietnamese government statement citing the company’s chair. Reuters in January exclusively reported that the Xian-based EV maker had plans to open a plant in Vietnam to produce car parts, with the aim to export…
BANGKOK (Reuters) – Japanese carmaker Toyota Motor Corp has stopped sales of its Yaris ATIV but the vehicle is safe, and the company urges all parties involved to cooperate on inspections and investigations, senior officials said on Monday. Speaking at a press conference in Bangkok, Toyota’s CEO for Asia, Masahiko Maeda, CEO Asia Region, said…
