By Nupur Anand and Mehnaz Yasmin (Reuters) – Morgan Stanley Chief Executive James Gorman’s total compensation rose nearly 13% to $39.4 million in 2022 versus a year earlier, according to a filing Thursday. That is higher than the $31.5 million package the bank reported in January, which reflected a 10% pay cut. The updated numbers…
By Andrea Shalal WASHINGTON (Reuters) -The International Monetary Fund expects global economic growth to dip below 3% in 2023 and to remain at around 3% for the next five years, Managing Director Kristalina Georgieva said on Thursday, flagging increased downside risks. That is the global lender’s lowest medium-term growth forecast since 1990, and well below…
(Reuters) – Wall Street’s main indexes opened lower on Thursday as a stronger-than-expected weekly jobless claims report pointed to growing signs that rapid interest rate hikes by the Federal Reserve was slowing down economic growth. The Dow Jones Industrial Average fell 61.76 points, or 0.18%, at the open to 33,420.96. The S&P 500 opened lower…
By Katie Paul (Reuters) – Facebook-owner Meta published an artificial intelligence model on Wednesday that can pick out individual objects from within an image, along with a dataset of image annotations that it said was the largest ever of its kind. The company’s research division said in a blog post that its Segment Anything Model,…
By Tom Sims and Marta Orosz FRANKFURT (Reuters) – Complaints from consumers about banks and other financial firms in Germany rose by a fifth last year, official data shows, as regulators flex their muscles to shore up trust in the sector. BaFin, Germany’s financial watchdog, has been increasing its focus on consumer protection in the…
By Naomi Rovnick and Sumanta Sen LONDON (Reuters) – Banking sector turmoil has not dented demand for equities, with MSCI’s world stock index up 7% so far this year. Hopes that the Federal Reserve and others could soon pause the most aggressive interest rate hiking cycle in decades has supported stocks even as sentiment more…
By Mohi Narayan and Matthew Chye NEW DELHI (Reuters) – Singapore’s imports of Russian naphtha nearly tripled in the first quarter of 2023, government data showed, after the European Union banned oil products imports from Russia. The Asia oil hub imported 741,000 tonnes of Russian naphtha in the period, accounting for about 23% of Singapore’s…
By Naomi Rovnick and Kevin Buckland LONDON/TOKYO (Reuters) – Global stocks drifted on Thursday, following skittish trade in the Asian session, as traders awaited crucial U.S. jobs data that may add to mounting evidence of a U.S. slowdown and the likelihood of a global recession. The broad MSCI index of world stocks dipped 0.1%, putting…
By Vera Eckert WILHELMSHAVEN, Germany (Reuters) – Germany’s only deep water port, home to its largest naval base, is where energy firms now plan to spend more than $5.5 billion to help construct the clean energy infrastructure the country needs to help end its reliance on Russian gas. Europe’s leading industrial exporter has only just…
BEIJING (Reuters) – Among the French business executives travelling to Beijing with President Emmanuel Macron, the mood was cautiously sanguine on the thawing post-pandemic trade prospects with China, with some rejecting American-led calls for ‘decoupling’. Macron travelled to China with a 50-strong delegation of business leaders including the CEOs of Airbus, Alstom and EDF, raising…
