By Moira Warburton (Reuters) – New York will return three antiquities worth $725,000 to the people of Yemen, Manhattan District Attorney Alvin Bragg announced on Friday, as part of a criminal investigation into a Manhattan-based private collector. The antiquities – including an alabaster ram from the 5th century B.C.E., which was looted during the Yemeni…
BEIJING (Reuters) – China’s three largest airlines reported narrower losses in the first quarter, with domestic and international travel picking up after the country dropped its strict COVID restrictions at the end of last year and reopened its borders. Shanghai-based China Eastern Airlines Corp Ltd, China’s no. 3 carrier by revenue, cut its first quarter…
By Sabrina Valle HOUSTON (Reuters) – Exxon Mobil Corp made a record first-quarter profit by pumping more oil and gas, beating analyst estimates and taking shares to an all-time high. Exxon doubled profits from the same quarter last year as higher output more than compensated for lower energy prices. Shares rose 2.3% to a record…
(Reuters) – The Federal Reserve issued a detailed and scathing assessment on Friday of its failures to identify problems and push for fixes at Silicon Valley Bank before the regional U.S. lender’s March 10 collapse, and called for stricter rules for banks. Fed Vice Chair for Supervision Michael Barr called the review “unflinching,” describing the…
MILAN (Reuters) – Telecom Italia (TIM)’s CEO Pietro Labriola is expected to propose to directors to seek further improvements of multi-billion bids for the company’s landline grid at a board meeting on May 4, two sources familiar with the matter said on Friday. Rival suitors KKR and a consortium comprising Italian state lender CDP and…
(Reuters) – First Republic Bank is most likely headed for Federal Deposit Insurance Corp (FDIC) receivership, CNBC reported on Friday citing sources. Shares of First Republic were down 19%. The bank did not immediately respond to a Reuters request for comment. Earlier on Friday, Reuters reported U.S. officials are coordinating urgent talks to rescue the…
LONDON (Reuters) – Uncertainty over the economic outlook and the banking sector prompted investors to move money back into cash and gold in the week to Wednesday, according to BofA Global Research. But the current environment is tricky to trade, as evidenced by a push into perceived risky assets such as tech stocks and the…
By Yoruk Bahceli and Davide Barbuscia AMSTERDAM/NEW YORK (Reuters) – In mid-March, as prices for U.S. Treasury bonds swung wildly following the collapse of Silicon Valley Bank, the trading desk at Legal & General Investment Management hit its top limits for both profit and loss several times in a single day. “We’d be swinging from…
(Reuters) – The U.S. House of Representatives on Friday voted to repeal President Joe Biden’s suspension of tariffs on solar panels from four Southeast Asian nations with manufacturing facilities owned by China. The resolution passed in a 221-202 vote. It will now be sent to the Democratic-controlled Senate for consideration. The White House has…
LONDON (Reuters) – Ron DeSantis met Britain’s foreign minister James Cleverly during a visit to London on Friday aimed at boosting economic ties, ahead of an expected announcement by the Florida governor that he will run for U.S. president. DeSantis has been on an international tour this week as he prepares to launch a 2024…
