By Gertrude Chavez-Dreyfuss and Joice Alves NEW YORK/LONDON (Reuters) – The U.S. dollar bounced on Friday after falling sharply the last few days, as investors consolidated losses ahead of the weekend, but its trajectory remained tilted to the downside with the Federal Reserve thought near the end of its rate hike cycle amid softening inflation….
(Corrects Brent price unit in second paragraph to ‘per barrel’) By Shariq Khan BENGALURU (Reuters) – Oil prices fell more than a dollar a barrel on Friday as the dollar strengthened and oil traders booked profits from a strong rally, with crude benchmarks recording their third-straight weekly gain. Brent crude futures settled at $79.87 per…
By Dietrich Knauth NEW YORK (Reuters) – Bankrupt wedding gown retailer David’s Bridal received court approval on Friday to sell its business to asset manager Cion Investment Corp in a no-cash transaction, reaching a deal to keep 195 stores open and avoid a total shutdown. U.S. Bankruptcy Judge Christine Gravelle approved the sale at a…
By Jesús Aguado, Andres Gonzalez and Iain Withers MADRID/LONDON (Reuters) – Santander is accelerating growth of its investment bank by hiring at least 50 bankers primarily in the United States, two people with knowledge of the matter told Reuters. Spain’s biggest bank is best-known as a retail lender in Europe and Latin America, but wants…
By Amruta Khandekar and Matteo Allievi (Reuters) -European shares edged slightly lower on Friday, but that did little to change their biggest weekly percentage jump in more than three months on hopes that easing inflation would allow the U.S. Federal Reserve to pause rate hikes soon. After five sessions of gains, the pan-European STOXX 600…
By Paul Sandle LONDON (Reuters) – Britain’s competition regulator on Friday extended its final deadline on Microsoft’s Activision Blizzard deal to Aug. 29 after its received a “detailed and complex” new proposal from Microsoft that claimed material changes in circumstance. The Competition and Markets Authority (CMA) in April became the first and so far only…
DUBAI (Reuters) – Standard Chartered said on Friday it has reached an agreement to sell its subsidiaries in five sub-Saharan African countries to Nigeria’s Access Bank, putting into motion a plan announced last year to divest those businesses. Standard Chartered will sell its shareholding in its subsidiaries in Angola, Cameroon, Gambia and Sierra Leone to Access….
By David Milliken LONDON (Reuters) – More than a quarter of Britain’s single parent households have recently run out of food and been unable to afford more, according to a survey from the country’s statistics agency which highlights the impact of surging inflation. Out of nearly 15,000 households surveyed between Feb. 8 and May 1,…
By Sam Tobin LONDON (Reuters) -Kevin Spacey described an allegation he grabbed a man’s crotch as “absolute bollocks” on Friday, in combative exchanges with prosecutors at the Oscar-winning actor’s sexual assault trial. Spacey, 63, has pleaded not guilty at London’s Southwark Crown Court to 12 charges of sexual offences allegedly committed against four men in…
ISTANBUL (Reuters) – Turkish President Tayyip Erdogan said on Friday that he is in agreement with Russian President Vladimir Putin that a deal allowing the Black Sea export of Ukraine grain should be extended. Speaking to reporters, Erdogan said that the deal will hopefully be extended from its current July 17 deadline as results of…