KYIV (Reuters) – Ukraine’s richest man says he plans to sue Russia over what he said was $17 billon to $20 billion in losses caused by its bombardment of steel plants he owns in the devastated city of Mariupol. The Azovstal steelworks suffered heavy damage from Russian bombing and shelling after the sprawling plant became…
By Devik Jain and Anisha Sircar (Reuters) -U.S. stocks were set to open higher on Thursday after strong earnings outlooks from companies such as Macy’s, while data confirmed the U.S. economy contracted in the first-quarter, quelling some worries about aggressive rate hikes. Macy’s Inc jumped 13.0% in premarket trading after the department store raised its…
By Divya Chowdhury DAVOS, Switzerland (Reuters) – Southeast Asia and Latin America are strong growth regions for Mastercard after its withdrawal from Russia in March and India’s 2021 ban on it from issuing new cards, the company’s co-president for international markets said. “Southeast Asia is exciting (due to) the right demographics, the adoption of technology…
(Reuters) -Broadcom Inc said on Thursday it will acquire cloud computing company VMware Inc in a $61 billion cash-and-stock deal, the chipmaker’s biggest and boldest bid to diversify its business into enterprise software. The acquisition is the second biggest announced globally so far this year, trailing only Microsoft Corp’s $68.7 billion deal to buy video…
By Nichola Saminather TORONTO (Reuters) -Royal Bank of Canada, Toronto-Dominion Bank and Canadian Imperial Bank of Commerce (CIBC) reported diverging second-quarter performances on Thursday with the former two comfortably beating expectations while the latter missed, all driven largely by provisions for credit losses (PCLs). Royal Bank, Canada’s largest lender, reported higher profit in the three…
By Samuel Indyk LONDON (Reuters) – The U.S. dollar edged back towards a one-month low on Thursday, as minutes from the Federal Reserve’s May meeting contained few surprises, with most participants favouring additional 50 basis point rate hikes at the June and July meetings. The dollar index, which measures the currency against six major peers,…
LONDON (Reuters) – Overseas holders of a Russian sovereign bond that matured last month are seeking a ruling on whether $1.9 million in interest arrears constituted a “credit event” that might allow them to eventually collect a payout on default insurance. The EMEA Credit Derivatives Determinations Committee (CDDC) said on its that holders of the…
(Reuters) – Britain’s competition regulator on Thursday launched its second probe into the advertising practices of Google, saying the Alphabet-owned search giant could be distorting competition and may have illegally favoured its own services. The Competition and Markets Authority’s (CMA) latest probe follows its into Google and Facebook owner-Meta’s “Jedi Blue” agreement earlier this year….
By Neil Jerome Morales and Enrico Dela Cruz MANILA (Reuters) -Philippines President-elect Ferdinand Marcos gave strong indications that he will maintain continuity in economic policy through his picks for central bank governor and finance minister on Thursday by adding familiar faces to his cabinet. Marcos announced central bank chief Benjamin Diokno would become his finance…
By Sonali Paul and Mohi Narayan (Reuters) – Oil prices rose on Thursday, extending a cautious rally this week on signs of tight supply while the European Union (EU) wrangles with Hungary over plans to ban imports from Russia, the world’s second-largest crude exporter, after it invaded Ukraine. Brent crude futures for July settlement gained…
