By Jonathan Stempel NEW YORK (Reuters) – Warren Buffett needed just two weeks to put together Berkshire Hathaway Inc’s $11.6 billion takeover of Alleghany Corp, its largest acquisition in six years, even as he balked at paying the insurer’s banking fee, a regulatory filing on Monday shows. Alleghany said its Chief Executive Officer Joseph Brandon…
By Indradip Ghosh and Prerana Bhat BENGALURU (Reuters) – The Federal Reserve is expected to deliver two back-to-back half-point interest rate hikes in May and June to tackle runaway inflation, according to economists polled by Reuters who also say the probability of a recession next year is 40%. With the unemployment rate near a record…
By Ross Kerber (Reuters) -New York pension officials on Monday said they will support shareholder resolutions filed at major banks seeking quick cuts to financing of new fossil fuel development, pushing climate issues to the fore of another springtime shareholder meeting season. Shareholders should support resolutions filed at Bank of America Corp, Goldman Sachs Group…
By Herbert Lash NEW YORK (Reuters) – Global stock markets fell on Monday, pulled lower by technology shares in Europe and on Wall Street, as U.S. Treasury yields jumped ahead of inflation data that could prompt the Federal Reserve to tighten policy enough to slow a rebounding economy. The euro rose against the dollar to…
By Kate Abnett and Alex Lawler BRUSSELS/LONDON (Reuters) -OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to replace those volumes, and signalled it would not pump more. European Union officials held talks in Vienna…
By Stephen Culp NEW YORK (Reuters) – Wall Street closed sharply lower on Monday as investors started the holiday-shortened week in a risk-off mood, as rising bond yields weighed on market-leading growth stocks ahead of crucial inflation data. All three major U.S. stock indexes ended deep in negative territory, with tech and tech-adjacent stocks pulling…
By Francesca Landini and Stephen Jewkes MILAN (Reuters) -The Benettons and U.S. investment fund Blackstone are aiming to launch a takeover offer for Italy’s Atlantia this week without involving directly other partners for now, two sources close to the matter said on Monday. One of the sources said the bid could be announced before Saturday,…
By Andrea Shalal WASHINGTON (Reuters) – Sharply higher global food and energy prices due to the war in Ukraine are hitting poor countries, and better mechanisms for dealing with sovereign debt stress will be needed to stave off defaults, the IMF said on Monday. “The war in Ukraine is adding risks to unprecedented levels of…
WASHINGTON (Reuters) – U.S. consumer prices likely increased by the most in 16-1/2 years in March as Russia’s war against Ukraine boosted the cost of gasoline to record highs, resulting in annual inflation rising at its fastest pace since the early 1980s. The Labor Department’s consumer price report on Tuesday would seal the case for…
By Ann Saphir (Reuters) -Chicago Federal Reserve Bank President Charles Evans on Monday signaled he would not necessarily oppose getting interest rates up to a neutral setting of 2.25% to 2.5% by the end of the year, a pace that would require a couple of 50 basis-point rate hikes at upcoming Fed meetings. “Fifty is…
