By Herbert Lash, Bansari Mayur Kamdar and Praveen Paramasivam NEW YORK (Reuters) -The Dow rose and the S&P 500 edged lower in choppy trade on Friday, with bank shares rising as investors grappled with how best to deal with an economy that could skid as the Federal Reserve moves to aggressively tackle inflation. The yield…
By Luc Cohen and Jody Godoy NEW YORK(Reuters) -Former Goldman Sachs banker Roger Ng was convicted by a U.S. jury on Friday of corruption charges related to his role in helping loot hundreds of millions of dollars from Malaysia’s 1MDB development fund. The charges stemmed from one of the biggest financial scandals in history. Prosecutors…
By Elizabeth Dilts Marshall NEW YORK (Reuters) – Bank of America on Friday threw its support behind the securities regulator’s proposal requiring U.S.-listed companies to disclose their climate-related risks and greenhouse gas emissions. The U.S. Securities and Exchange Commission (SEC) unveiled the draft rule last month, aiming to help investors better understand the “actual or…
By Arathy Somasekhar HOUSTON (Reuters) – Oil prices were stable on Friday in choppy trading but remained on course for a second weekly fall after countries announced plans to release crude from their strategic stocks. Brent crude futures were up 77 cents, or 0.77%, at $101.35 a barrel by 12:19 p.m ET (1619 GMT). U.S….
By Caroline Valetkevitch NEW YORK (Reuters) -The U.S. Treasury 10-year yield hit a three-year high above 2.7% on Friday while the U.S. dollar index advanced to 100 for the first time in nearly two years, helped by the prospect of a more aggressive pace of Federal Reserve tightening. U.S. stocks were mixed in choppy early…
By Valentina Za and Andrea Mandala MILAN (Reuters) -France’s Credit Agricole has become the single largest investor in Banco BPM after buying a 9.2% stake, raising the prospect of a full takeover bid and sending shares in Italy’s third-largest lender sharply higher. The move increases the French group’s exposure to its main foreign market, where…
By Luc Cohen NEW YORK (Reuters) – A U.S. jury resumed deliberations on Friday in the trial of a former Goldman Sachs banker accused of helping loot billions of dollars from Malaysia’s 1MDB sovereign wealth fund. Prosecutors say Roger Ng, Goldman Sachs Group Inc’s former top investment banker for Malaysia, helped his then-boss Tim Leissner…
MILAN (Reuters) -Proceedings involving Italian bank Unicredit over alleged fraudulent diamond sales will start again from scratch, judicial sources said on Friday, increasing the risk many of the allegations could be dropped due to time limits. An Italian judge decided to transfer the case involving Italy’s second biggest bank and seven of its staff to…
By Ron Bousso LONDON (Reuters) – Shell will write down up to $5 billion following its decision to exit Russia, more than previously disclosed, while soaring oil and gas prices boosted trading activities in the first quarter, the company said on Thursday. The post-tax impairments of between $4 billion and $5 billion in the first…
By Bansari Mayur Kamdar and Praveen Paramasivam (Reuters) -Wall Street was set for a subdued open on Friday as U.S. Treasury yields surged at the end of a volatile week marked by concerns around aggressive moves by the Federal Reserve to tame inflation and the ongoing Ukraine conflict. Some growth and technology stocks slipped in…
