By Stephanie Kelly NEW YORK (Reuters) -Oil rose on Friday and posted a weekly gain, as higher Chinese demand and OPEC+ supply cuts lifted prices, despite expected weakness in the global economy and the prospect for further interest rate hikes. Brent crude gained 94 cents to settle at $76.61 a barrel. U.S. West Texas Intermediate…
By Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) – The yen plunged to a 15-year low against the euro on Friday after the Bank of Japan (BOJ) kept its ultra-low interest rate policy and forecast that inflation will slow later this year, in contrast with the European Central Bank’s (ECB) rate hike on Thursday. The Japanese unit…
By David Carnevali and Mike Stone (Reuters) -Ball Corp, the world’s largest supplier of beer cans, is exploring a sale of its business that provides aerospace and national defense hardware, such as sensors and antennas, for over $5 billion, people familiar with the matter said on Friday. The divestment of the aerospace business, which accounted…
By Jonathan Stempel NEW YORK (Reuters) -Jamie Dimon, the chief executive of JPMorgan Chase, will not have to sit for a second deposition in the U.S. Virgin Islands’ lawsuit over the bank’s work for Jeffrey Epstein, the late financier and sex offender. U.S. District Judge Jed Rakoff in Manhattan on Friday denied “in its entirety”…
By Tim Hepher PARIS (Reuters) – Airbus has signed orders this month including 60 A320-family jets with a lessor and 10 A350s with a major airline, said the planemaker’s Chief Commercial Officer Christian Scherer. The deals come on top of any business to be announced at next week’s Paris Airshow and will be booked at…
By Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) -European shares closed at a three-week high on Friday, underpinned by luxury and defensive stocks at the end of a week that was dominated by major central bank policy decisions. The continent-wide European STOXX 600 index rose 0.5%. The index gained 1.5% in the policy-packed week, its…
By Nell Mackenzie LONDON (Reuters) -Odey Asset Management has suspended further funds after increased investor redemptions, letters posted on the fund’s website showed. The hedge fund, once run by one of Britain’s best known star managers, Crispin Odey, has grappled with investor flight after the founder became the focus of sexual misconduct allegations in media…
By David Milliken LONDON (Reuters) – The Bank of England looks set to raise interest rates by a quarter point to a 15-year high of 4.75% on June 22, its 13th straight rate rise as it fights unexpectedly sticky inflation that risks making it a global outlier. Investors this week bet the Bank of England…
(Reuters) -GSK Plc said on Friday the U.S. Food and Drug Administration (FDA) has extended the review period by three months for a drug the British drugmaker gained through its $1.9 billion buyout of Sierra Oncology last year. The regulator delayed its decision to review additional data and is now expected to decide on the…
By Tim Hepher, Valerie Insinna, Joanna Plucinska and Allison Lampert PARIS (Reuters) – Global aerospace and defence companies will tout the cleaner transport and robotic weapons of the future as they also tackle urgent supply bottlenecks at next week’s Paris Airshow, taking place under the shadow of climate fears and a war economy. The world’s…
