By Laura Sanicola (Reuters) -Refiners worldwide are struggling to meet global demand for diesel and gasoline, exacerbating high prices and aggravating shortages from big consumers like the United States and Brazil to smaller countries like war-ravaged Ukraine and Sri Lanka. World fuel demand has rebounded to pre-pandemic levels, but the combination of pandemic closures, sanctions…
(Corrects headline to say ISS urges Spirit shareholders to reject Frontier offer, not ISS urges Spirit shareholders to pick JetBlue offer over Frontier) (Reuters) – Proxy advisory firm Institutional Shareholder Services Inc (ISS) has urged shareholders of Spirit Airlines to vote against a proposed merger with Frontier Group Holdings. JetBlue Airways Inc’s competing offer of…
By Julie Gordon OTTAWA (Reuters) -Canada’s economy was not as robust as expected in the first quarter, but had momentum heading into the second, official data showed on Tuesday, reinforcing the likelihood of another oversized rate hike from the central bank this week. The Canadian economy grew at an annualized rate of 3.1% in the…
(Reuters) – JPMorgan Chase and Co has named Thomas Cassin as vice chair of global debt capital markets for the bank’s investment banking unit, according to an internal memo seen by Reuters on Tuesday. Cassin, a four-decade veteran at the bank, will work on acquisition and strategic financing opportunities in his new role and will…
By Balazs Koranyi, Jan Strupczewski and Francesco Canepa FRANKFURT (Reuters) -European Central Bank policymakers sparred over the size of their upcoming rate increases on Tuesday as data showed euro zone inflation rising to another record high in May. Prices have risen sharply across Europe in the past year, with the ECB initially blaming lingering supply…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The U.S. dollar rose across the board on Tuesday as Treasury yields climbed and worries over a further acceleration in global inflation kept investors’ risk appetite at bay. The dollar was supported by demand for havens. U.S. stocks fell on Tuesday as soaring oil prices and hawkish…
(Reuters) – The S&P 500 and Dow opened lower on Tuesday as soaring oil prices and hawkish comments from a Federal Reserve official spooked investors, with focus turning to talks between U.S. President Joe Biden and Fed Chair Jerome Powell later in the day. The Dow Jones Industrial Average fell 52.37 points, or 0.16%, at…
By Julie Gordon OTTAWA (Reuters) -Canada’s economic growth was not as robust as expected in the first quarter, dragged by lower export volumes, official data showed on Tuesday, though activity was bang-on central bank projections and unlikely to sway plans for an oversized rate hike in June. The Canadian economy grew at an annualized rate…
LONDON (Reuters) – Sell in May? They certainly did, but rather than go away as the old stock market adage suggests, traders returned to aggressively buy the dip, causing some of the wildest monthly swings in recent times. There was plenty of selling in the first half of the month across asset classes, driven by…
By Layli Foroudi PARIS (Reuters) -A top airline industry official called on Tuesday for calm surrounding recent travel chaos at some airports as people resume flying after the pandemic, blaming the gridlock on temporary delays in getting clearances for new staff. A snapback in air travel has triggered reports of long queues at some British…
