(Reuters) – Walmart Inc appointed Latriece Watkins as its U.S. chief merchandising officer, according to a memo seen by Reuters on Friday, days after Charles Redfield stepped down from the role. Watkins, who joined the company 24 years ago, has served in several roles across Walmart U.S. and Sam’s Club. She was most recently the…
(Reuters) – Deposits at U.S. commercial banks fell in the week ended April 26, data released on Friday by the Federal Reserve showed, while overall credit provided by banks moved up. At large U.S. banks deposits fell to $10.54 trillion from $10.61 trillion a week earlier, on a non-seasonal basis. Deposits at small banks totaled…
By Sinéad Carew and Naomi Rovnick NEW YORK/LONDON (Reuters) – A global gauge of stocks rallied and U.S. Treasuries and gold sold off on Friday as strong U.S. jobs data brightened the economic outlook and traders pared expectations of Federal Reserve easing after a long spate of rate hikes. The non-farms payroll report showed U.S….
By Arpan Chaturvedi and Siddhi Nayak NEW DELHI (Reuters) – Indian airline Go First’s effort to start insolvency proceedings has become ensnared in a tussle with aircraft lessors after they asked the aviation regulator to deregister some of its planes as a step towards taking them back. India’s first major airline collapse since 2019 underlines…
By Scott DiSavino (Reuters) -U.S. energy firms cut the most oil and natural gas rigs in a week since February, energy services firm Baker Hughes Co said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by seven to 748 in the week to…
(Reuters) – The U.S. Securities and Exchange Commission is investigating the conduct of First Republic Bank executives before the government seizure and sale to JPMorgan Chase & Co, Bloomberg News reported on Friday, citing people familiar with the matter. The SEC is looking into whether any members of the then-executive team of First Republic improperly…
By Dietrich Knauth (Reuters) – Bankrupt crypto exchange FTX received U.S. bankruptcy court permission on Thursday to sell its LedgerX business for $50 million, raising additional funds to repay creditors. At a hearing in Wilmington, Delaware, U.S. Bankruptcy Judge John Dorsey signed off on FTX’s sale of LedgerX, its non-bankrupt crypto derivatives trading platform, to…
By Ann Saphir (Reuters) – A government report Friday showing the U.S. labor market is still running strong appeared to ratify the Federal Reserve’s decision this week to tighten monetary policy, but traders continued to bet the central bank’s next move will be an interest-rate cut. The Fed raised its benchmark rate on Wednesday for…
SYDNEY (Reuters) – Australia’s government is set to cut its forecasts for inflation while also predicting lower unemployment for longer in 2023/24 budget next week, a mix that it hopes will generate much-needed growth in real wages. Treasurer Jim Chalmers will now forecast unemployment of 3.5% for the June quarter of this year and 4.25%…
By Hilary Russ NEW YORK (Reuters) – More job seekers are filling out applications to sling Big Macs at McDonald’s, and Starbucks baristas are staying in their jobs longer, as a cooling economy sends workers back to low-wage restaurant gigs and keeps them there. “We’re seeing application rates increase, retention rates continue to increase, and…
