A look at the day ahead in European and global markets from Brigid Riley All eyes are on the Federal Reserve today as the first in a string of central banks to announce interest rate decisions this week. With most market participants expecting a 25 basis-point hike from the Federal Open Market Committee (FOMC) later…
By Aziz El Yaakoubi RIYADH (Reuters) – Saudi Arabian authorities have detained five relatives of a U.S. citizen, three rights groups said on Wednesday, arguing that the detentions were retaliation for his family’s failed lawsuit against the Saudi government in the United States. The Freedom Initiative, Democracy for the Arab World Now (DAWN) and ALQST…
By Lisa Baertlein LOS ANGELES (Reuters) – The head of the Teamsters union stared down UPS with a potential multibillion-dollar strike that could have damaged the U.S. economy but instead won gains for workers, and he is proud to be called “SOB.” Sean O’Brien, elected general president of the International Brotherhood of Teamsters in 2021,…
(Reuters) -Canadian retailer Loblaw on Wednesday beat Wall Street expectations for second-quarter revenue and profit, helped by sustained demand for groceries and drugs and higher prices. Retailers in Canada have banked on robust demand for essentials such as groceries despite stubbornly high pricing, after inflation pushed consumers to curb spending on non-essential goods. Loblaw has…
By Richa Naidu LONDON (Reuters) – Consumer companies and economists have said sentiment in China is slower than expected, but that’s not stopping them from buying more condoms, Durex maker Reckitt said on Wednesday. Economic data from China this month showed its post-pandemic surge was quickly fading, raising expectations that the government needs to bring…
FRANKFURT (Reuters) – Deutsche Bank on Wednesday said that it had hired 50 senior bankers in the origination and advisory business of its global investment bank and that a slump in activity affecting it and competitors was a thing of the past. The 50 managing directors and directors, and an unspecified number of junior bankers,…
By Maiya Keidan (Reuters) – It’s getting more difficult to land a job in the private equity industry — unless you are willing to join a smaller firm. Buyout firms specializing in small deals are braving a slowdown in hiring for dealmakers, as they skirt the financing and fundraising challenges hampering large leveraged buyouts, dealmakers…
By Bianca Flowers CHICAGO (Reuters) – U.S. equipment makers are likely to face excess inventory early next year as demand from farmers and construction companies cools, though second-quarter profit is expected to remain strong. Equipment dealers have struggled to keep tractors and combines in stock due to strong demand and supply-chain snarls that have kept…
By Safiyah Riddle (Reuters) – Weakening loan growth for U.S. banks and what top lending officers across the industry have to say about the credit outlook will color the debate U.S. Federal Reserve officials are having over where they push policy from here. Fed officials are broadly expected to raise their policy rate on Wednesday,…
A look at the day ahead in U.S. and global markets from Mike Dolan Alphabet outshone Microsoft as the latest two of the tech giants reported earnings overnight, with another regional bank merger exciting financial stocks as the Fed decides on interest rates. The blizzard of market-moving news has done little to rein in the…
