By Brenna Hughes Neghaiwi ZURICH (Reuters) -Credit Suisse on Thursday posted a fourth-quarter net loss of 2 billion Swiss francs ($2.2 billion), hurt by provisions to settle its investment bank’s legal costs and a slowdown in business for its trading and wealth management divisions. The scandal-ridden lender had flagged a loss in January. For the…
LONDON (Reuters) -Credit Agricole SA beat its 2022 profit target a year early as lower costs for troubled loans and rising revenues across business lines boosted fourth-quarter results beyond consensus, France’s second-biggest listed bank said on Thursday. The lender said it would present a new strategic plan for 2025 on June 22 after underlying net…
WASHINGTON (AP) — Inflation soared over the past year at its highest rate in four decades, hammering American consumers, wiping out pay raises and reinforcing the Federal Reserve’s decision to begin raising borrowing rates across the economy. The Labor Department said Thursday that consumer prices jumped 7.5% last month compared with a year earlier, the…
By Anshuman Daga SINGAPORE (Reuters) – Activist investor Quarz Capital Management said it is opposed to the terms of a proposed S$4.2 billion ($3.1 billion) merger of two Temasek-linked Singapore real estate investment trusts, saying the target firm was significantly undervalued. It is urging Mapletree North Asia Commercial Trust (MNACT) to negotiate an improved offer…
By Florence Tan SINGAPORE (Reuters) -Oil prices edged down on Thursday, after rallying on an unexpected drop in U.S. crude inventories in the previous session, as investors await the outcome of U.S.-Iran nuclear talks that could add crude supplies quickly to global markets. Brent crude futures slid 7 cents, or 0.1%, to $91.48 a barrel…
SAN RAMON, Calif. (AP) — Uber’s ride-hailing service edged closer to returning to its pre-pandemic levels during the final three months of last year, but its prospects remain clouded by the future direction of the novel coronavirus that has plagued its business. The San Francisco-based company’s fourth-quarter results Wednesday came in above analysts’ projections. But…
By Tushar Goenka BENGALURU (Reuters) – India’s retail inflation likely accelerated to 6.0% in January, the upper limit of the Reserve Bank of India’s tolerance band, driven by higher consumer goods and telecom prices along with a comparatively low rate a year ago, a Reuters poll found. Inflation is climbing across the world and India…
WASHINGTON (Reuters) – Toyota Motor Corp said on Wednesday it did not expect its auto plants in Ontario to produce vehicles for the rest of the week, because of supply problems stemming from COVID-19 trucking protests and other factors. “Due to a number of supply chain, severe weather and COVID related challenges, Toyota continues to…
TOKYO (Reuters) – Japan’s core consumer inflation likely slowed in January from the previous month, a Reuters poll showed, reinforcing expectations the country’s central bank will lag well behind other economies in raising interest rates. Separate data is also expected to show Japan likely ran the biggest trade deficit in eight years in January as…
By Florence Tan SINGAPORE (Reuters) – Oil prices were mixed on Thursday, after rallying on an unexpected drop in U.S. crude inventories in the previous session, as investors await the outcome of U.S.-Iran nuclear talks that could add crude supplies quickly to global markets. Brent crude futures slid 10 cents, or 0.1%, to $91.45 a…
