US fines Volaris $300,000 for violating tarmac delay rules
WASHINGTON (Reuters) - The U.S. Transportation Department said Wednesday it had fined Mexican carrier Volaris Airlines $300,000 for violating federal law on airport tarmac delays. Federal law and government regulations prohibit tarmac delays of fou...
9h ago
US consumer prices rise less than expected in April; core CPI slows
WASHINGTON (Reuters) - U.S. consumer prices increased less than expected in April, suggesting that inflation resumed its downward trend at the start of the second quarter in a boost to financial market expectations for a September interest rate cut...
9h ago
U.S. homebuilder sentiment tumbles as rates slow buyer traffic
(Reuters) - U.S. homebuilder sentiment soured in May for the first time in six months as high interest rates on home loans kept potential customers on the sidelines and more builders had to offer incentives to lure buyers, data out Wednesday showed...
9h ago
Goldman Sachs hires from rivals to expand in mid-market deals
By Anirban Sen NEW YORK (Reuters) - Goldman Sachs told Reuters it has hired two investment bankers, Kerry Burke and Eddie Rubin, from Evercore and Lazard, respectively, as part of a push to double down on its business that focuses on advising on de...
9h ago
US business inventories fall in March
WASHINGTON (Reuters) - U.S. business inventories fell in March, but this could lay the ground for businesses to rebuild stocks and support economic growth in the second quarter. Inventories dipped 0.1% after increasing 0.3% in February, the Commerc...
9h ago
Brazil's central bank fully committed to 3% inflation target, governor says
BRASILIA (Reuters) - Brazil's central bank chief Roberto Campos Neto said on Wednesday that the monetary authority is committed to pursuing its 3% inflation target, and that its policy discussions should "not even mention" the center and band of th...
10h ago
Netflix nears deal for NFL games, Bloomberg News reports
(Reuters) -Netflix is finalizing a deal to buy exclusive rights to stream two National Football League (NFL) games on Christmas Day, Bloomberg News reported on Wednesday, as the streaming giant ramps up its live programming. The company will pay less t...
10h ago
Exclusive-Bank of America banker who died had sought to leave, citing long hours, recruiter says
By Milana Vinn NEW YORK (Reuters) - The 35-year-old Bank of America investment banker who died from a blood clot earlier this month wanted to leave the U.S. bank because he was working more than 100 hours a week, according to an executive recruiter...
10h ago
Canadian home sales fell 1.7% in April, CREA data shows
OTTAWA (Reuters) - Canadian home sales declined 1.7% in April from March, and were up 10.1% on an annual basis, data from the Canadian Real Estate Association (CREA) showed on Wednesday. The industry group's Home Price Index was unchanged on the mo...
10h ago
BlackRock executive pay wins only narrow support from shareholders
(Reuters) - Asset manager BlackRock on Wednesday said only about 58% of advisory votes cast at its annual meeting supported the pay of its top executives. Top proxy advisors had recommended votes against the pay. At the meeting, which was webcast, ...
10h ago
Petrobras shares plunge as Brazil's Lula swaps CEO
RIO DE JANEIRO (Reuters) -Shares of Brazil's Petrobras plunged XX% as markets opened on Wednesday, after the state-run oil firm said its chief executive would step down, to be replaced by a former regulator with views closer those of President Luiz In...
10h ago
JPMorgan CEO Dimon favors full engagement with China, Sky News reports
(Reuters) - The U.S. government is doing the right thing by fully engaging with China, JPMorgan Chase CEO Jamie Dimon said in an interview with Sky News on Wednesday, adding that Beijing was a fierce competitor, but "not an enemy" of the Western wo...
10h ago
US consumer prices rise less than expected; retail sales flat
NEW YORK (Reuters) - U.S. consumer prices increased less than expected in April, suggesting that inflation resumed its downward trend at the start of the second quarter in a boost to financial market expectations for a September interest rate cut. ...
10h ago
ECB says stress in home loans manageable despite high rates, lax checks
By Francesco Canepa FRANKFURT (Reuters) - Stress in the euro zone market for home loans is "manageable" despite higher interest rates stretching borrowers and lax checks by some banks, the European Central Bank said on Wednesday. Record high intere...
11h ago
Pakistan shares hit record high over 75,000 as foreign buyers pile in
By Ariba Shahid KARACHI, Pakistan (Reuters) -Pakistan's main share index continued its rally to breach the 75,000 mark for the first time on Wednesday on the back of heavy foreign buying while expectations of monetary easing amid falling inflation also...
12h ago
Nigeria inflation rises further to 33.69% y/y in April
ABUJA (Reuters) -Nigeria's headline consumer inflation rose to 33.69% year on year in April, up from 33.20% in March, its bureau of statistics said on Wednesday. Inflation is at its highest in almost three decades in Africa's most populous nation, spur...
12h ago
South African retail sales rise 2.3% year on year in March
JOHANNESBURG (Reuters) - South African retail sales rose 2.3% year on year in March after decreasing by a revised 0.7% in February, Statistics South Africa figures showed on Wednesday. On a month-on-month basis, sales increased 1.4% in March. (Rep...
12h ago
Analysis-'What doesn't kill you makes you stronger,' China trolls new US tariffs
By Joe Cash and Ryan Woo BEIJING (Reuters) - China's measured response to the U.S. move to hike tariffs on $18 billion of Chinese goods from syringes to batteries suggests relations between the world's two largest economies face more frost rather t...
13h ago
The inside story of Elon Musk's mass firings of Tesla Supercharger staff
By Chris Kirkham, Hyunjoo Jin and Abhirup Roy (Reuters) - The day before Elon Musk fired virtually all of Tesla's electric-vehicle charging division last month, they had high hopes as charging chief Rebecca Tinucci went to meet with Musk about the ...
13h ago
NYCB shares rise on deal to sell $5 billion mortgage warehouse loans to JPMorgan
(Reuters) - Shares of New York Community Bancorp rose nearly 5% in premarket trading on Wednesday, after the lender agreed to sell a portfolio of about $5 billion in mortgage warehouse loans to JPMorgan Chase. The deal with the largest U.S. bank by...
13h ago
Morning bid: New stock records jump the CPI gun
A look at the day ahead in U.S. and global markets from Mike Dolan Markets seem to have got bored waiting for today's big U.S. inflation print and stocks zoomed to new records in advance, taking slivers of comfort from Tuesday's producer price readout...
13h ago
Futures flat before key inflation test
(Reuters) - U.S. stock index futures were little changed on Wednesday ahead of the crucial consumer prices data that will test the recent market rally fueled by hopes of monetary policy easing by the Federal Reserve. The tech-heavy Nasdaq notched a...
13h ago
China says 'bullying' tariff hike shows that some in US have lost their minds
BEIJING (Reuters) - The U.S. move to raise tariffs on Chinese goods is a case of "typical bullying" and "shows that some people in the United States have reached the point of losing their minds," China's foreign minister said on Wednesday. "The U....
13h ago
Boeing, Airbus need to do more to reduce new jet delays, Qatar Airways CEO says
SEOUL (Reuters) - Planemakers Airbus and Boeing need to put more pressure on their suppliers to reduce the delivery delays of new aircraft that are hindering airlines' ability to meet travel demand, Qatar Airways CEO said on Wednesday. "We are ... ...
14h ago
GameStop, AMC soar in Frankfurt as meme-stock rally roars on
LONDON (Reuters) - Retail investor darlings GameStop and AMC Entertainment's Frankfurt-listed shares jumped on Wednesday, in a continuation of this week's rally after posts from "Roaring Kitty" Keith Gill a central figure behind the 2021 meme stock...
14h ago