(Reuters) – US Bancorp forecast full-year net interest income (NII) below Wall Street estimates, sending the lender’s shares down more than 1% in premarket trading on Wednesday. The weak forecast comes despite lenders earning more in interest income, thanks to a sharp rise in interest rates by the Federal Reserve to tame decades-high inflation. Minneapolis-based…
(Reuters) – Nissan on Wednesday became the first Japanese automaker to agree to adopt Tesla’s electric-vehicle charging technology in the U.S. and Canada, joining global peers in expanding their fast-charger network to boost EV adoption. Starting in 2025, Nissan will equip its EVs with the Tesla-developed North American Charging Standard (NACS) port, as it targets…
By Andy Bruce LONDON (Reuters) – Investors scaled back their bets that the Bank of England will hike interest rates aggressively after lower-than-expected inflation numbers on Wednesday prompted a huge rally in British government bonds. Consumer price inflation slowed to 7.9% in June from 8.7% in May, a bigger drop than almost all the economists…
By Maki Shiraki and Daniel Leussink TOKYO (Reuters) -Nissan and Renault will make an announcement in the coming days on their restructured alliance and have finalised the deal, three people familiar with the matter said, capping 10 months of sometimes tense negotiations. The automakers announced a framework agreement in February and had aimed to finalise…
(Reuters) -Swedish industrials group Atlas Copco on Wednesday reported second-quarter operating profit that beat market forecasts, but said demand was expected to weaken in the near term, sending its shares lower. Operating profit adjusted for items affecting comparability rose to 9.49 billion Swedish crowns ($925 million) from 7.04 billion a year earlier, beating the 8.94…
JOHANNESBURG (Reuters) – South African retail sales fell 1.4% year on year in May after declining by a revised 1.8% in April, Statistics South Africa figures showed on Wednesday. On a month-on-month basis, sales decreased 0.7%. Sales in the three months to the end of May were down 1.5% compared with the same period last…
SAO PAULO (Reuters) – Brazilian motor maker WEG SA reported a 50% jump in net profit, saying that “good demand” in the main regions where it operates helped it post positive figures. WEG, which in the last couple of years faced supply chain disruptions, managed to improve its results across the board in the quarter,…
KYIV (Reuters) -Ukraine accused Russia on Wednesday of intentionally striking grain terminals and infrastructure in the Black Sea port of Odesa, with one official saying the main aim was to stop Kyiv shipping grain from there. Russia attacked Odesa for the second consecutive night after quitting a deal on Monday that allowed the safe passage…
(Reuters) – M&T Bank Corporation beat Wall Street estimates for second-quarter profit on Wednesday, as the U.S. Federal Reserve’s rapid rate hikes to tame inflation boosted the lender’s interest income. Most consumer-facing lenders have tapped higher rates to charge more interest on their loans and credit card debt, with M&T’s upbeat results echoing larger rivals…
(Reuters) – Citizens Financial Group reported a second-quarter profit that beat Wall Street estimates as lenders’ net interest income rose in a high-interest-rate environment. The upbeat results follow a tumultuous first quarter in which the global banking crisis – triggered by the collapse of three mid-sized U.S. banks – led panicked consumers to pull billions…
