By Arathy Somasekhar and Marianna Parraga HOUSTON (Reuters) – The United States is expected to ban imports of Russian oil as soon as Tuesday, sources familiar with the matter said, in retaliation for Moscow’s invasion of Ukraine. Russia is the world’s second largest exporter of crude oil and petroleum products. U.S. IMPORTS The United States…
NEW YORK (AP) — U.K. Prime Minister Liz Truss said Tuesday that she’s ready to make “unpopular decisions” such as boosting bonuses for wealthy bankers in order to get the country’s sluggish economy growing. Speaking before an emergency government budget statement on Friday, Truss said tax cuts were key to spurring economic growth, even though…
By Diane Bartz WASHINGTON (Reuters) -Microsoft cleared major hurdles to its plan to buy videogame maker Activision Blizzard on Tuesday, after a U.S. judge gave a thumbs-up to the $69 billion deal and a British regulator suggested it could reconsider its opposition. Activision shares surged 10% on the day, as the U.S. and Britain have…
By Niket Nishant and Jaiveer Shekhawat (Reuters) -Comerica and Huntington Bancshares on Friday sharply cut their interest income growth forecasts for 2023, the latest U.S. banks to sound the alarm over faltering loan demand and a rise in deposit costs. The Federal Reserve’s fastest monetary tightening cycle since the 1980s helped lift lenders’ net interest…
(Reuters) – U.S. equity funds received robust inflows for a second week in the seven days to Dec. 29 as investors welcomed signs that the Omicron coronavirus variant won’t bring a big setback to the economy. According to Refinitiv Lipper data, U.S. equity funds lured net purchases of $19.43 billion, compared with their average weekly…
By Saeed Azhar, Niket Nishant and Lananh Nguyen NEW YORK (Reuters) – U.S. banking giants are forecast to report lower fourth quarter profits this week as lenders stockpile rainy-day funds to prepare for an economic slowdown that is battering investment banking. Four American banking giants — JPMorgan Chase & Co, Bank of America Corp, Citigroup…
BEIJING (Reuters) – Oil prices soared nearly $2 per barrel in early trade on Friday as Russia’s invasion of Ukraine continued to inflame global supply concerns as markets brace for the impact of trade sanctions on major crude exporter Russia. Global benchmark Brent crude rose $1.99, or 2%, to $101.07 a barrel around 0155 GMT…
By David Lawder WASHINGTON (Reuters) – The U.S. government posted a $228 billion budget deficit for June, up 156% from a year earlier as revenues continued to weaken and July benefit payments were accelerated into June, the U.S. Treasury Department said on Thursday. The deficit compares to a June 2022 budget gap of $89 billion….
PARIS (Reuters) – L’Oreal, the world’s largest cosmetics group, said on Tuesday it would temporarily close its own stores, its directly operated counters in department stores and its e-commerce sites in Russia, in reaction to Moscow’s invasion of its neighbour Ukraine. The French company, which strongly condemns Russia’s military action, also said it would also…
(Adds dropped word “not” in paragraph 7) (Reuters) – A Florida judge ruled in favor of Tiger Woods on Wednesday, rejecting his former girlfriend Erica Herman’s request to nullify a non-disclosure agreement she signed when they began dating in 2017, U.S. media reported, citing court documents. Herman had asked a judge to void the agreement,…
