By Swathi Nair BENGALURU (Reuters) – The European Central Bank is expected to raise the deposit rate for the first time in over a decade in July and bring it out of negative territory at its following meeting in September, despite a 30% chance of recession within a year, a Reuters poll of economists showed….
By Laura Sanicola (Reuters) – Oil prices opened lower in early Asian trade on Tuesday after the European Union’s efforts to enact a ban on Russian oil imports, a move that would tighten global supply, ran into resistance from member country Hungary. Brent crude futures fell 35 cents, or 0.3%, to $113.89 a barrel at…
By Nupur Anand and Chris Thomas MUMBAI (Reuters) – Life Insurance Corp is likely to see a lacklustre debut when it lists on Indian stock exchanges on Tuesday despite the $2.7 billion initial public offering being oversubscribed, analysts said. India priced LIC’s record-breaking IPO last week at 949 Indian rupees ($12.20), the top of the…
By Jody Godoy (Reuters) – A state court judge found California’s law requiring publicly held companies to include women on their boards unconstitutional, dealing another blow to the state’s push to diversify corporate leadership. Los Angeles Superior Court Judge Maureen Duffy-Lewis issued the decision on Friday in favor of three California taxpayers who sought to…
By Echo Wang (Reuters) – Former U.S. President Donald Trump’s new social media venture disclosed in a regulatory filing on Monday it may raise up to $50 million through convertible notes before it merges with a blank-check acquisition firm. Truth Media & Technology Group (TMTG) is set to receive $1.25 billion in funding once it…
By Rajesh Kumar Singh CHICAGO (Reuters) – United Airlines Holdings Inc on Monday raised its revenue estimate for the current quarter despite trimming capacity, underscoring a booming travel demand. The Chicago-based carrier now expects total revenue per available seat mile to be up 23%-25% from the same period in 2019, up from a prior forecast…
(In this May 10 story, the date of ConocoPhillips shareholder meeting has been corrected in paragraph nine.) By Ross Kerber and Simon Jessop BOSTON/LONDON (Reuters) – Big Oil has enjoyed an easier ride at shareholder meetings so far this year compared with last year’s punishing run of hostile investor votes tied to climate concerns, as…
(Reuters) – Abbott Laboratories, the biggest U.S. supplier of powder infant formula including Similac, initiated a recall and closed its Sturgis, Michigan, manufacturing plant earlier this year after reports of serious bacterial infections in four infants. The recall and shutdown has worsened a baby formula shortage among multiple manufacturers that began with pandemic supply chain…
By Katie Paul (Reuters) -Twitter Inc CEO Parag Agrawal on Monday tweeted that internal estimates of spam accounts on the social media platform for the last four quarters were “well under 5%,” responding to acquirer Elon Musk’s criticism of the company’s handling of phony accounts. Agrawal said Twitter’s estimate, which has stayed the same since…
By Amruta Khandekar and Noel Randewich (Reuters) – Wall Street was mixed on Monday, with energy stocks rallying and Tesla and other growth stocks losing ground as downbeat Chinese economic data added to worries about a global slowdown and rising interest rates. China’s economic activity cooled sharply in April as widening COVID-19 lockdowns took a…
