By Pete Schroeder WASHINGTON (Reuters) -Wall Street was slightly higher Monday afternoon in bumpy trading, while U.S. Treasury yields jumped as investors juggled strong earnings with what Russia’s invasion of Ukraine could mean for global growth. A significant cut to global growth expectations from the World Bank, paired with March weakness in China’s latest economic…
By Sruthi Shankar and David French (Reuters) – U.S. stocks moved into positive territory in early afternoon trading on Monday, as a profit beat from Bank of America rounded out earnings season for the big Wall Street banks and added further momentum to financial stocks. The upward swing reversed earlier declines caused by bond yields…
By Gabriel Araujo SAO PAULO (Reuters) – Brazilian auto parts company Tupy SA has signed a deal to buy motor maker MWM, formally known as International Industria Automotiva da America do Sul, Tupy said on Monday, sending its shares sharply higher. The deal has an enterprise value of 865 million reais ($184.2 million), Tupy said…
WASHINGTON (Reuters) -The U.S. Securities and Exchange commission (SEC) says it has charged 16 defendants with participating in multiyear penny stock schemes that generated more than $194 million in illicit proceeds. The defendants, which include 15 individuals and one company, are located in the Bahamas, the British Virgin Islands, Bulgaria, Canada, the Cayman Islands, Monaco,…
By Bansari Mayur Kamdar and Sruthi Shankar (Reuters) -U.S. stocks fell on Monday as bond yields surged to three-year highs on expectations of an aggressive tightening in monetary policy, while financials rose after Bank of America rounded out earnings for big Wall Street banks with a profit beat. Market participants are bracing for a barrage…
By Ross Kerber BOSTON (Reuters) – Median pay for top U.S. CEOs rose 31% last year to a record $20 million, a new study found, surging after a slight decline during the COVID-19 pandemic, as companies showered leaders with stock awards and cash bonuses. Chief executives receiving big pay increases included the leaders of tech…
(Reuters) – U.S. households expect home prices and rents to rise sharply this year, and while growth in both are then seen slowing, renters see their chances of ever owning a home fading fast, according to a new survey by the Federal Reserve Bank of New York. Home prices are expected to increase 7% in…
By Dietrich Knauth (Reuters) -Johnson & Johnson said on Monday it agreed to pay $99 million to settle claims by West Virginia that it helped fuel an opioid addiction crisis in the state, removing the company from an ongoing trial that began earlier this month. West Virginia is still pursuing claims against Teva Pharmaceuticals Industries…
By David Lawder and Andrea Shalal WASHINGTON (Reuters) -The World Bank is reducing its global growth forecast for 2022 by nearly a full percentage point, to 3.2% from 4.1%, due to the impacts from Russia’s invasion of Ukraine, World Bank President David Malpass said on Monday. Malpass told reporters on a conference call that the…
By Michelle Price and Elizabeth Dilts Marshall WASHINGTON (Reuters) – With soaring interest rates scaring off would-be mortgage borrowers, the outlook for banks’ home lending portfolios is gloomy, according to first quarter filings and analysts. The average interest rate on a 30-year fixed-rate mortgage, the most popular home loan, rose to 5.13% in the week…
