(Adds dropped letter, paragraph 23) By Noele Illien and Stefania Spezzati ZURICH (Reuters) -UBS said on Tuesday it had set aside more money to draw a line under its involvement in toxic U.S. mortgages, halving its first-quarter profit as the bank girds itself for the “hard” task of swallowing fallen rival Credit Suisse. Sergio Ermotti,…
(Reuters) – U.S. stock index futures slipped on Tuesday as shares of First Republic Bank dived after the regional lender reported a plunge in deposits, while investors parsed through earnings reports for clues on the health of corporate America and the U.S. economy. First Republic Bank dropped 20.9% in premarket trading after it reported deposits…
By Amanda Cooper LONDON (Reuters) – Stocks fell on Tuesday, while the dollar got a lift as investors prepared for corporate earnings and macro data this week to paint a clearer picture of the health of the global economy. Last week’s U.S. bank earnings came in stronger than expected, and this week brings results for…
By Jesús Aguado MADRID (Reuters) – Spain’s Santander on Tuesday beat forecasts with a 1% rise in first-quarter net profit as a strong performance in Europe offset weaker trade in Brazil and the United States. Its net profit rose to 2.57 billion euros helped by higher lending income and despite a hit of 224 million…
By Heekyong Yang and Joyce Lee SEOUL (Reuters) -South Korea’s Hyundai Motor Co said on Tuesday it had finalised a $5 billion electric vehicle (EV) battery joint venture in the U.S., boosting electrification efforts in its largest market. Hyundai also reported its first-quarter net profit had more than doubled, exceeding expectations. Its shares rose as…
By Emily Chow SINGAPORE (Reuters) – Oil prices held steady on Tuesday as investors weighed strong holiday travel in China that could boost fuel demand against the prospect of rising interest rates elsewhere, slowing economic growth. Brent crude fell 3 cents to $82.70 a barrel at 0620 GMT, while U.S. West Texas Intermediate crude also…
By Ludwig Burger FRANKFURT (Reuters) -Novartis raised its full-year earnings outlook, citing strong growth momentum after scoring a trial success for a key breast cancer drug and making progress on boosting production of a radiotherapy drug against prostate cancer. The Swiss drugmaker said in a statement on Tuesday that when excluding Sandoz, the generic-drug division…
PARIS (Reuters) – The European Central Bank will need to raise interest rates again at its forthcoming meeting next week but the size of the move is still open to debate, its chief economist told French paper Le Monde in an interview published on Tuesday. “For our next Governing Council meeting on 4 May, the…
By Leika Kihara TOKYO (Reuters) -Bank of Japan (BOJ) Governor Kazuo Ueda on Tuesday stressed the need to keep monetary policy ultra-loose for now, but signalled the chance of raising interest rates if inflation and wage growth overshot expectations. “In light of current economic, price and financial developments, it’s appropriate to maintain monetary easing, now…
By Xie Yu HONG KONG (Reuters) – Stocks fell broadly, while the U.S. dollar also weakened early on Tuesday, as investors weigh corporate earnings and economic growth outlooks in a busy week. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.7% by 0220 GMT. Hong Kong’s benchmark edged down 1.2%, while mainland stocks…
