By Shadia Nasralla and Ron Bousso LONDON (Reuters) – Shareholders backed Shell’s climate strategy in a meeting on Tuesday that was disrupted by dozens of climate protesters, while a climate activist proposal from the Follow This group received fewer votes than last year. It followed a Dutch court ruling in May 2021, telling the company…
By Devik Jain and Anisha Sircar (Reuters) – Wall Street’s main indexes fell on Tuesday, with the tech-heavy Nasdaq leading the slump, as a weak earnings forecast from Snapchat-owner Snap Inc added to nerves about an inflation-struck economy. Snap Inc plummeted 39.7%, dragging down several social media and internet stocks, after the company slashed its…
By Pete Schroeder WASHINGTON (Reuters) – U.S. bank profits dropped 6.5% in the first quarter of 2022 to $59.7 billion, as larger firms grew their loan loss provisions in response to heightened economic and geopolitical uncertainty, the Federal Deposit Insurance Corporation reported Tuesday. Bank profits were down 22.2% compared to the first quarter of 2021,…
By Francesco Guarascio and Jan Strupczewski BRUSSELS (Reuters) – The European Commission wants to make it easier to confiscate assets linked to serious illegal activities and suspected criminals, including those evading European Union sanctions against the Kremlin, according to a draft document seen by Reuters. The legislative proposal, due to be published on Wednesday and…
By Devik Jain and Anisha Sircar (Reuters) -U.S. stock indexes were set to fall on Tuesday following a strong relief rally in the previous session as weak forecasts from firms including Snapchat owner Snap Inc added to nerves about an inflation-struck economy. Snap Inc plummeted 33% in premarket trading, dragging down several social media and…
DOHA (Reuters) – The Qatar Investment Authority cannot exit the Russian market and is waiting to assess its position there because of the Ukraine crisis, the sovereign wealth fund’s chief investment officer for Europe, Russia and Turkey said Tuesday. “We can’t do much in Russia … We have to really assess where to stand on…
By Francesco Canepa and Tom Wilson FRANKFURT (Reuters) -Cryptocurrencies will pose a risk to financial stability if the emerging sector maintains its rapid growth of the last two years and financial firms deepen their involvement, the European Central Bank (ECB) said on Tuesday. The crypto market slumped sharply this month after the downfall of major…
(Reuters) -Electronics retailer Best Buy Co Inc lowered its full-year sales and profit forecasts on Tuesday, as red-hot inflation saps consumers’ spending power. However, Best Buy shares jumped 8% in premarket trading after the company beat estimates for first-quarter revenue. Its stock fell over 16% last week as retail behemoths Walmart Inc and Target Corp…
By Shadia Nasralla and Ron Bousso LONDON (Reuters) -A couple of dozen climate protesters disrupted Shell’s annual general meeting (AGM) on Tuesday, chanting slogans and holding banners as Shell Chair Andrew Mckenzie tried to start the meeting. Shell is due to ask its shareholders to vote on a resolution supporting its climate strategy and rebuff…
By Byungwook Kim SEOUL (Reuters) – Samsung Group will invest 450 trillion won ($356 billion) in the next five years to accelerate growth in semiconductors, biopharmaceutical and other next-generation technologies, Samsung Electronics said. South Korea’s top conglomerate said on Tuesday the investments through 2026 are expected to help Samsung drive long-term growth in strategic areas…
