Goldman Sachs strikes deal to manage $43.4 billion UPS pension fund assets
(Reuters) -Goldman Sachs Asset Management has been appointed the outsourced chief investment officer for $43.4 billion North American pension fund assets belonging to parcel delivery firm UPS. As part of this appointment, the UPS in-house investment ma...
11h ago
US bars imports from 26 cotton manufacturers over Uyghur forced labor
WASHINGTON (Reuters) -The United States blocked imports from 26 Chinese cotton traders or warehouse facilities on Thursday as part of its effort to eliminate goods made with the forced labor of Uyghur minorities from the U.S. supply chain. The companie...
11h ago
Dow briefly sprints past 40,000-mark on earnings boost, rate-cut bets
(Reuters) - The Dow Jones Industrial Average briefly breached the 40,000-point level for the first time on Thursday, the blue-chip index's fastest 10,000-point climb, powered by strong quarterly results and rising bets of interest-rate cuts by the ...
11h ago
Labor Department accidentally released some inflation data early on Wednesday
(Reuters) - A subset of key and highly sensitive U.S. inflation data was inadvertently published about 30 minutes ahead of its scheduled release on Wednesday, the Bureau of Labor Statistics said, and a full investigation to the latest data-manageme...
12h ago
Major brokerages retain US rate-cut view after soft inflation data
(Reuters) - Top global brokerages have retained their expectations for when the U.S. Federal Reserve will lower interest rates this year, after softer-than-expected inflation data boosted hopes of a soft landing for the economy. J.P. Morgan and Gol...
13h ago
ECB not in a hurry to cut rates, should take measured steps after June, Kazaks says
PORTOROZ, Slovenia (Reuters) - The European Central Bank is likely to cut interest rates in June but the bank is not in a hurry to ease policy, so subsequent moves could be spaced out to give time for assessment, ECB policymaker Martins Kazaks said...
14h ago
Johnson & Johnson to acquire Proteologix for $850 million
(Reuters) - Johnson & Johnson on Thursday said it would acquire privately held Proteologix for $850 million in cash, with potential for an additional milestone payment. (Reporting by Sriparna Roy in Bengaluru; Editing by Anil D'Silva)
14h ago
ECB's Centeno sees lower interest rates soon, no word on June decision
LISBON (Reuters) - Euro zone inflation is in a sustained decline towards 2% and the European Central Bank's interest rates will certainly start diminishing, ECB policymaker Mario Centeno said on Thursday, declining to predict whether it will happen...
14h ago
Lufthansa offers short-haul compromise for ITA deal, sources say
By Foo Yun Chee, Ilona Wissenbach and Angelo Amante BRUSSELS/FRANKFURT/ROME (Reuters) - Lufthansa has offered to keep some competing ITA short-haul routes in an effort to secure EU antitrust approval for its bid for a stake in the Italian airline, ...
14h ago
ECB's rates framework may discourage money-market lending - Nagel
FRANKFURT (Reuters) - The European Central Bank's new interest rates framework may discourage money-market lending because banks will find it cheaper to tap the ECB, policymaker Joachim Nagel said on Thursday. The ECB wants to wean banks off free c...
14h ago
Walmart lifts full-year sales and profit forecast, shares rally
(Reuters) -U.S. retail giant Walmart raised its fiscal 2025 sales and profit forecast on Thursday, betting on easing inflation to further boost demand for essentials and bring a rebound in sales of discretionary products like electronics. Shares of the...
14h ago
Under Armour forecasts annual sales below estimates
(Reuters) - Apparel maker Under Armour forecast its annual revenue below analysts' expectations on Thursday, signaling soft demand for its sportswear in the U.S. as consumers cut back on discretionary spending in the face of sticky inflation. The c...
14h ago
South Korea urges better cooperation on supply chain with China
SEOUL (Reuters) - South Korea's finance minister on Thursday said Seoul and Beijing should seek better economic cooperation on the supply chain for raw materials. "We should lead global industries by cooperating on supply chain and technologies acr...
15h ago
Exclusive-Chevron prepares for North Sea exit after more than 55 years
By Ron Bousso LONDON (Reuters) - Chevron is set to launch the sale of its remaining UK North Sea oil and gas assets, in a move that would mark the U.S. energy giant's exit from the ageing basin after more than 55 years. The process comes as Chevron...
15h ago
Exclusive-Fed's Williams welcomes inflation data, not ready to seek rate cuts
By Michael S. Derby NEW YORK (Reuters) - Federal Reserve Bank of New York President John Williams welcomed the arrival of softer consumer inflation data, he told Reuters, but said that positive news is not enough to call for the U.S. central bank t...
15h ago
Transcript of interview with New York Fed's Williams
By Michael S. Derby NEW YORK (Reuters) - Federal Reserve Bank of New York President John Williams was interviewed by Reuters on Wednesday. The following transcript has been edited for clarity: MICHAEL DERBY: We speak today on a day where we got so...
15h ago
Morning bid: New highs hold as disinflation resumes, US cools
A look at the day ahead in U.S. and global markets from Mike Dolan World stocks notched new records and the dollar nursed its worst day of the year as fears of an overheating U.S. economy dissipate - stirring hopes that the coast is clearing for Federa...
15h ago
Israel's economy rebounds in wake of Gaza war, grows 14.1% in Q1
JERUSALEM (Reuters) - Israel's economy recovered sharply in the first quarter of 2024 after a steep contraction in late 2023 that followed the start of war in Gaza with Palestinian Islamist group Hamas last October. The Central Bureau of Statistics...
15h ago
Basel battle: Goldman's unlikely foot soldiers in the fight against bank capital hikes
By Pete Schroeder WASHINGTON (Reuters) - Jeff Riggs, a Montana businessman who owns a small data center, flew to Washington D.C. in November to meet with his U.S. Senator Steve Daines. The trip wasn't his idea. It was arranged, paid for and scripte...
15h ago
Chinese retailer JD.com reports Q1 revenue above estimates
(Reuters) - Chinese online retailer JD.com on Thursday reported first-quarter revenue that beat market estimates, as deep price cuts helped boost sales that had been hit hard by cautious customer sentiment. U.S.[listed shares of the company rose ab...
15h ago
Meta faces EU investigation over child safety risks
By Foo Yun Chee BRUSSELS (Reuters) - Meta Platforms' social media sites Facebook and Instagram will be investigated for potential breaches of EU online content rules relating to child safety, EU regulators said on Thursday, a move that could lead t...
15h ago
Deere cuts 2024 profit forecast as falling crop prices squeezes demand
(Reuters) - Deere trimmed its annual profit forecast for the second time on Thursday, as farmers buy fewer tractors and combine harvesters due to falling crop prices. The world's largest farm equipment maker said it now expects fiscal 2024 net inco...
15h ago
Digitalisation of banking creates new risks, says global watchdog
By Huw Jones LONDON (Reuters) - The digitalisation and entry of Big Tech into finance create new vulnerabilities and amplify existing risks in the banking system that may need new rules to mitigate, global banking regulators said in a report on Thu...
15h ago
Deutsche Bank under fire from investors over Postbank problems
By Tom Sims FRANKFURT (Reuters) -Big investors in Deutsche Bank vented their frustration at Germany's top lender on Thursday, describing problems at its Postbank business as a trust-damaging embarrassment. The complaints at Deutsche's annual general me...
15h ago
Swedish court rejects Tesla appeal in licence plate case
OSLO (Reuters) - A Swedish appeals court upheld on Thursday a dismissal of Tesla's lawsuit against Sweden's Transport Agency in a conflict over licence plates, part of a wider dispute between the U.S. company and labour unions in the Nordic country...
15h ago