WASHINGTON (Reuters) – U.S. single-family homebuilding and permits for future construction rebounded in February, offering hope that the housing market was probably stabilizing after being hammered by higher mortgage rates. Single-family housing starts, which account for the bulk of homebuilding, increased 1.1% to a seasonally adjusted annual rate of 830,000 units last month, the Commerce…
By John Revill, Amanda Cooper and Saeed Azhar (Reuters) – Credit Suisse sought to shore up its liquidity and restore investor confidence on Thursday by borrowing up to $54 billion from Switzerland’s central bank, after a slide in its shares intensified fears of a global banking crisis. Shares in Credit Suisse briefly bounced from a…
By Tom Sims, Vera Eckert and Ludwig Burger FRANKFURT (Reuters) – European corporate treasurers were on alert on Thursday, with a German industry association warning against complacency and major companies saying they were closely monitoring developments in the global banking system. German corporate treasurers were urged by an industry association not to “underestimate the current…
By Ahmad Ghaddar LONDON – Oil prices clawed back some ground on Thursday, recovering from the previous session’s 15-month lows, as markets calmed somewhat after Credit Suisse was thrown a financial lifeline by Swiss regulators. But market sentiment remained fragile, battered by fears of growing stress on banks worldwide, and both the main crude benchmarks…
(Reuters) -Richard Branson’s Virgin Orbit said it was exploring strategic opportunities and was in talks for potential funding after a cash crunch forced the satellite launch company to pause operations starting Thursday. Shares of the company, which expects the operational halt to continue until Mar. 21, tumbled nearly 45% in premarket trading. Virgin Orbit has…
OSLO (Reuters) – Activity in the Norwegian economy is levelling off and companies expect business prospects to be stable in the first half of 2023, a central bank business survey showed on Thursday. The quarterly survey provides key input for the central bank, which in January said it would “most likely” raise its key policy…
(Reuters) – Convenience store operator Alimentation Couche-Tard is in exclusive talks to buy some of French energy company TotalEnergies retail assets for 3.1 billion euros ($3.29 billion) in cash, the Canadian company said on Thursday. The proposed deal would comprise all of the stores at TotalEnergies’ service stations in Germany and the Netherlands as well…
By David Randall NEW YORK (Reuters) – Fears of a recession are growing on Wall Street, as stress in the banking sector following the collapse of Silicon Valley Bank and worries over the fate of Credit Suisse darken the outlook for the economy and markets. Just weeks ago, analysts and investors were debating whether the…
By Laura Sanicola and Muyu Xu -Oil prices clawed back some ground on Thursday after sliding to 15-month lows in the previous session as markets calmed somewhat after Credit Suisse was thrown a financial lifeline by Swiss regulators. But battered by fears of a deepening crisis for banks worldwide, market sentiment remained fragile with both…
By Munsif Vengattil, Aditya Kalra and Saurabh Sharma NEW DELHI/LUCKNOW (Reuters) – Xiaomi Corp is overhauling its India strategy after misjudging consumer tastes in mobile phones, a costly lapse that has allowed Samsung Electronics to pip the Chinese company to the top spot in the world’s second biggest market for the devices. While Xiaomi remained…
