By Erwin Seba HOUSTON (Reuters) -Oil prices edged higher on Friday on strong economic data in the euro zone and Britain, but futures fell for the week as interest rate and demand uncertainty weighed. Brent futures settled up 56 cents at $81.66 per barrel. U.S. West Texas Intermediate crude (WTI) rose 50 cents to $77.87…
By Davide Barbuscia NEW YORK (Reuters) – Vanguard, the world’s second-largest asset manager, increased exposure to large bank’s bonds during the banking rout in March, taking advantage of cheap valuations, according to a report seen by Reuters. The collapse of two U.S. regional banks last month triggered wild price fluctuations across fixed income markets, with…
By Amna Karimi (Reuters) – U.S. labor unions called on railroad operators to halt all stock buybacks until they improve safety and abandon their lean operating model, which regulators and shippers say has led to deterioration in the quality of service. The unions have blamed Precision Scheduled Railroading (PSR), a concept that encourages running longer…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar was little changed to slightly higher against major currencies on Friday, as business activity data suggested that the world’s largest economy remained resilient, supporting expectations of another 25-basis-point interest rate increase by the Federal Reserve at next month’s policy meeting. Against commodity currencies, the greenback…
By Luc Cohen NEW YORK (Reuters) – U.S. Representative Jim Jordan, one of Donald Trump’s staunchest allies in Congress, on Friday urged an appeals court to let his House Judiciary Committee depose a former prosecutor in the Manhattan district attorney’s criminal probe of the former U.S. president. The district attorney, Democrat Alvin Bragg, had earlier…
MILAN (Reuters) – Italy’s antitrust authority said on Friday it had taken measures against Meta Platforms over allegations it abused its position in the country, part of an investigation of music rights. Meta, the U.S. company which owns Facebook, WhatsApp and Instagram, last month failed to reach a deal with the Italian society of authors…
By Jonathan Stempel (Reuters) – Ford Motor Co on Friday defeated an appeal by consumers who said the automaker cheated on fuel economy tests for its F-150 and Ranger trucks, allowing it to inflate mileage estimates on window stickers. In a 3-0 decision, the 6th U.S. Circuit Court of Appeals in Cincinnati said federal law…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – As U.S. stocks test the top of a range that has held for months, two widely used analytical styles appear to be painting conflicting scenarios for where they might go next. Technical indicators such as equity price movement largely show stocks are poised to continue a rally…
By David Randall NEW YORK (Reuters) – A blistering rally in megacap growth and technology shares has buoyed markets this year, and earnings reports in coming weeks could help investors determine if those gains are justified. U.S. technology stocks are currently the “most crowded” trade in the market, fund managers surveyed by BofA Global Research…
RAMSTEIN AIR BASE, Germany (Reuters) -The United States said it will soon start training Ukrainian troops to use its Abrams tank and Germany announced a deal to establish a Polish hub to repair tanks as the U.S. hosted a meeting of allies on Friday. The meeting at Ramstein Air Base, the latest in a series…
