By Bansari Mayur Kamdar and Praveen Paramasivam (Reuters) -The S&P 500 and the Dow were set for a subdued open on Monday as JPMorgan shares dropped after reporting a slump in quarterly profit, while fresh data highlighted growing inflationary pressures. The largest U.S. bank by assets JPMorgan Chase & Co was down 3% in premarket…
WASHINGTON (Reuters) – U.S. producer prices increased more than expected in March amid a surge in demand for services, suggesting inflation could remain high for a while. The producer price index for final demand increased 1.4% after rising 0.9% in February, the Labor Department said on Wednesday. In the 12 months through March, the PPI…
LONDON (Reuters) – U.S. private equity firm General Atlantic on Wednesday named Lance Uggla, former boss of data company IHS Markit, as chief executive of its climate-focused venture BeyondNetZero. Uggla founded Markit and helped lead a merger with IHS in 2016. He most recently served as CEO and chairman of IHS Markit, which S&P Global…
By Saikat Chatterjee LONDON (Reuters) – The Japanese yen weakened past the 126 yen per dollar mark on Wednesday for the first time since 2002, while the euro was pinned at a one-month low as investors bought the U.S. currency after hawkish comments by Federal Reserve officials. The prospect of fast and aggressive U.S. interest…
LONDON (Reuters) – Crypto lender Nexo said it has teamed up with global payments company Mastercard to launch on Wednesday what it calls the world’s first “crypto-backed” payment card. It signals the latest move by crypto and incumbent financial networks to join forces as digital assets become more mainstream. Nexo said the card, available in…
By Rajesh Kumar Singh CHICAGO (Reuters) – Delta Air Lines Inc on Wednesday reported a quarterly loss, but forecast a return to profit in the current quarter as airline travel demand reaches record heights. The Atlanta-based company’s adjusted loss for the first quarter came in at $1.23 per share, compared with average analyst estimates of…
By Alexander Schummer TORONTO (Reuters) – Canada’s accelerated timeline to fully embrace electric vehicles (EVs) presents a threat to some auto suppliers and auto mechanics, with the latter pinning hopes on a key legislation to adapt to the changing needs of the industry. Last month, Justin Trudeau’s Liberal government set out a mandatory target for…
By Ron Bousso and Chen Aizhu LONDON/SINGAPORE (Reuters) – China’s top offshore oil and gas producer CNOOC Ltd. is preparing to exit its operations in Britain, Canada and the United States, because of concerns in Beijing the assets could become subject to Western sanctions, industry sources said. Ties between China and the West have long…
By Andrea Shalal WASHINGTON (Reuters) – The International Monetary Fund hopes to mobilize around $45 billion for a new trust to help a broader range of countries, including some middle-income economies, deal with climate change and other longer-term challenges, a paper prepared by IMF staff and reviewed by Reuters shows. The IMF’s executive board is…
(Reuters) – The Russian rouble stabilised near 80 per dollar on Wednesday and stock indexes were up slightly, losing momentum after weeks of jittery trade. Russian actions in Ukraine, which Moscow calls “a special military operation”, remained in focus, along with a risk of new western sanctions and expectations that the economy is heading for…
