A look at the day ahead in European and global markets from Sonali Desai The People’s Bank of China (PBOC) managed to liven up the wait for Tuesday’s highly anticipated U.S. consumer price inflation (CPI) data by lowering a short-term lending rate for the first time in 10 months. Several analysts had been expecting a…
BEIRUT/DAMASCUS (Reuters) – Syrian factions have given mixed reactions to an Arab League decision to lift the suspension on Syria’s membership after more than a decade of isolation, underscoring the deep rifts cut into the country by years of bloodshed. The decision on Sunday by foreign ministers of Arab League countries consolidates a regional push…
By Helen Reid LONDON (Reuters) – Adidas, burnt by the end of its tie-up with the artist formerly known as Kanye West, needs a new focus but should think more tactically about fresh celebrity partnerships and not count so much on one personality, industry experts said. New chief executive Bjorn Gulden on Wednesday stood by…
(Reuters) -Russian bank VTB is preparing to wind down its European operations after being hit hard by Western sanctions, the Financial Times reported on Sunday. VTB has an investment banking operation in London and a retail bank in Germany with 160,000 customers but has decided it is unable to operate outside Russia after its assets…
By Steve Scherer OTTAWA (Reuters) -Leaders of a dock workers union in Canada’s Pacific region on Friday backed a tentative contract deal with employers and will soon recommend ratification to members, likely ending a standoff that led to a crippling 13-day strike. On Tuesday, “there will be a stop work meeting … to recommend the…
(Reuters) – Valero Energy Corp on Tuesday reported a first-quarter profit compared to a year-ago loss, thanks to higher demand for fuel and refined products. Net profit attributable to the company’s stockholders was $905 million, or $2.21 per share, for the three months ended March 31, compared with a loss of $704 million, or $1.73…
By Deborah Mary Sophia (Reuters) -Home Depot sales were better than expected in the third quarter, bolstered by customers spending on plumbing and hardware for repair work and smaller projects, sending its shares up about 7% on Tuesday in a “sigh of relief” rally. Americans have put big renovations and discretionary home-improvement projects on the…
(Reuters) – Binance said in a tweet on Monday it would swap 750 million tether-tron token pairs for tether-ether in an attempt to maintain the stablecoin’s liquidity. The move comes amid renewed regulatory scrutiny at the world’s largest cryptocurrency exchange and will help cushion some of the fallout from recent blows, including Binance being sued…
(Reuters) – California’s Independent System Operator (ISO) warned of high temperatures and increased electricity usage during the coming week as the grid operator prepares for tight conditions works to ensure adequate supply. In a notice released on Saturday, ISO said it is closely monitoring the power grid as widespread heat waves can cause supply shortages,…
(Reuters) – A group of investors led by Apollo Global Management is making a debt investment between $1 billion to $2 billion in chipmaker Wolfspeed to support its expansion in the U.S., media outlets reported on Sunday. The financing would make $1.25 billion of cash available immediately to Wolfspeed, while another $750 million could be…
