By Karen Brettell NEW YORK (Reuters) – The dollar rose on Thursday against the euro after the European Central Bank eased its pace of rate hikes, a day after the Federal Reserve hiked rates by 25 basis points and indicated that it may pause further increases. The ECB’s 25-basis-point increase was the smallest since it…
By Lisa Barrington DUBAI (Reuters) – The United Nations on Thursday fell far short of raising the money it needs for an operation to salvage 1.1 million barrels of oil from a decaying vessel moored off Yemen’s coast and avert an environmental disaster. U.N. officials have been warning for years that the Red Sea and…
MADRID (Reuters) – International Airlines Group’s Spanish airline Iberia named Fernando Candela as its new acting president and chief executive officer, replacing Javier Sanchez-Prieto. Candela will take over from Sanchez-Prieto in July and lead the company until the end of the year, IAG said in a statement on Thursday. Candela, who has been CEO since…
By Naomi Rovnick and Dhara Ranasinghe LONDON (Reuters) – The ECB may not be done with rate hikes just yet, but its own admission that aggressive tightening is now making itself felt in the euro zone economy is enough for markets to bet that peak rates could arrive sooner rather than later. Interest rate-sensitive two-year…
By Krystal Hu (Reuters) – Shopify Inc has divested the logistics arm it built over the past few years, in a reversal of its strategy of aggressively investing in fulfillment networks, the Canadian e-commerce platform said on Thursday. It has sold its logistics unit, including Deliverr Inc, a company it acquired for $2.1 billion less…
By Ron Bousso and Shadia Nasralla LONDON (Reuters) – Shell on Thursday posted first-quarter net profit of $9.65 billion as strong earnings from trading and higher liquefied natural gas (LNG) sales offset cooling energy prices, while extending its large share repurchase programme. The stronger-than-expected profits followed a string of forecast-beating results from rivals including BP…
JOHANNESBURG (Reuters) – Some South Africans are calling for Britain to return the world’s largest diamond, known as the Star of Africa, which is set in the royal sceptre that King Charles III will hold at his coronation on Saturday. The diamond, which weighs 530 carats, was discovered in South Africa in 1905 and presented…
By Suban Abdulla LONDON (Reuters) -Britain’s services sector kicked off the second quarter with its fastest growth in a year, boosted by new orders, but it passed the cost of rising wage bills on to consumers, adding pressure on the Bank of England to keep raising interest rates. The final S&P Global/CIPS UK Services Purchasing…
By Sinead Cruise, John O’Donnell and Tom Sims LONDON/DUBLIN (Reuters) – European savers are pulling more of their money from banks, looking for a better deal as lenders resist paying up to hold on to deposits some feel they can currently live without. The trend emerged as some of the region’s biggest lenders outlined a…
A look at the day ahead in U.S. and global markets from Mike Dolan If the Federal Reserve needs more information on what to do for its next move on interest rates, relentless stress in regional bank shares again this week may yet figure highly. As the Fed delivered what markets assume will be the…
