Norway keeps rates on hold, may extend tight policy
OSLO (Reuters) - Norway's central bank kept its key policy interest rate on hold at 4.50% on Friday, as unanimously expected by analysts, and said a tight monetary policy stance may be needed for somewhat longer than planned in order to curb inflat...
1h ago
German engineering orders deepen decline in March, reports VDMA
BERLIN (Reuters) - German manufacturers deepened a decline in their order books in March, but economists pointed to a high comparative base of the previous year's period and hinted at potential signs of easing, the VDMA association reported on Frid...
2h ago
Turkey inflation up near 70%, highest since 2022
ISTANBUL (Reuters) - Turkish annual consumer price inflation climbed to 69.8% in April, official data showed on Friday, a bit below expectations but the highest since late-2022 on strong rises in education, restaurants and hotels prices. Month-on-m...
3h ago
ECB's Stournaras sees just three rate cuts in 2024 on strong growth
FRANKFURT (Reuters) - The European Central Bank is "most likely" to cut interest rates just three times this year as stronger-than-expected economic growth supports inflation, ECB policymaker Yannis Stournaras said in an interview with a Greek medi...
3h ago
Holiday Inn owner IHG reports 2.6% rise in quarterly room revenue
(Reuters) - Holiday Inn owner Intercontinental Hotels Group (IHG) said on Friday its first-quarter room revenue rose 2.6%, helped by performance in Japan, Australia, Europe and the Middle East. (Reporting by Chandini Monnappa and Yadarisa Shabong ...
4h ago
Analysis-Heavy oil shortage spells higher cost for shippers, road builders
By Robert Harvey and Arathy Somasekhar LONDON/HOUSTON (Reuters) - Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners' costs with a likely knock-on ...
4h ago
Yen poised for best week in over a year; dollar waits on US jobs data
By Rae Wee SINGAPORE (Reuters) - The yen was headed for its best week in more than a year on Friday, helped by Tokyo's suspected intervention this week to pull the Japanese currency away from 34-year lows, which also left the dollar broadly on the ...
5h ago
North America drives Daimler Truck to core profit beat
(Reuters) - Germany's Daimler Truck AG posted first-quarter core profit of 1.21 billion euros ($1.30 billion) on Friday, beating the consensus estimate of 1.17 billion euros in a company poll, driven by a strong performance of its Trucks North Ame...
5h ago
Credit Agricole's Q1 earnings jump as investment banking beats rivals
By Mathieu Rosemain PARIS (Reuters) - Credit Agricole SA, France's second-biggest listed bank, posted a forecast-beating 55% jump in first-quarter net profit on Friday, helped by corporate and investment banking sales that outperformed rivals. Net ...
5h ago
SocGen's investment bank limits Q1 profit plunge
By Mathieu Rosemain PARIS (Reuters) - French bank Societe Generale reported a better-than-expected 22% slide in first-quarter net income on Friday, as profits on equity derivative sales offset more weakness at its retail bank and in fixed-income tr...
5h ago
Solid US job, wage growth expected in April
By Lucia Mutikani WASHINGTON (Reuters) - U.S. job growth probably slowed to a still-solid clip in April, with wages maintaining their steady rise, which would allay fears that the economy was stalling after activity pulled back considerably in the ...
6h ago
SVB Financial to sell investment platform business SVB Capital
(Reuters) - Collapsed U.S. lender SVB Financial Group said on Thursday that an entity affiliated with Pinegrove Capital Partners will acquire its investment platform business, SVB Capital. Pinegrove Capital Partners, backed by permanent capital fro...
7h ago
Global hedge funds chase Hong Kong stocks rally, UBS says
By Summer Zhen HONG KONG (Reuters) - Global hedge funds that use an equities long-short strategy are growing increasingly bullish on China, evidenced by the heavy pick-up in their purchases of Hong Kong-listed shares, UBS Group said in a note. Hong...
7h ago
Asian stocks surge on tech boost; yen extends gains to cap wild week
By Ankur Banerjee SINGAPORE (Reuters) - Asian stocks rallied on Friday after Apple's record $110 billion share buyback plan lifted the tech sector, while the yen put more distance from recent 34-year lows to cap a tumultuous week that saw suspected...
8h ago
Oil steadies, heads for weekly drop on U.S. economy worries
By Laila Kearney (Reuters) - Oil prices edged up in early trade on Friday on the prospect of OPEC+ continuing output cuts, but the crude benchmarks were headed for weekly losses on U.S. economic uncertainty and limited crude supply disruptions caus...
9h ago
Ferrari appeals to traditional base with two new V12 cars
MILAN (Reuters) - Luxury sports car maker Ferrari has unveiled two new models, the 12Cilindri and the 12Cilindri Spider, appealing to lovers of its most powerful roaring petrol engines. The two cars, showcased at an event in Miami on Thursday eveni...
10h ago
Live Nation's revenue beats estimates as boom in concerts drive ticket sales
(Reuters) - Ticketmaster parent Live Nation Entertainment beat estimates for first-quarter revenue on Thursday, driven by the popularity of live events such as concerts, sending its shares up more than 3% in aftermarket trading. High ticket prices ...
11h ago
Apple sales fall less than expected, CEO sees return to growth
By Stephen Nellis, Max A. Cherney and Yuvraj Malik (Reuters) -Apple on Thursday reported a smaller than expected decline in quarterly revenue, and Chief Executive Tim Cook told Reuters the company expects a return to sales growth in the current quarter...
12h ago
Australia's Macquarie posts 32% fall in full-year profit
(Reuters) - Australia's Macquarie Group posted a 32% drop in its full-year profit on Friday due to weaker performance across its commodities, global markets and asset management businesses. The financial conglomerate's profit attributable for the y...
12h ago
Egan Jones recommends Ancora's board nominees in Norfolk Southern proxy fight
(Reuters) - Proxy advisory firm Egan Jones said on Thursday that it recommended Norfolk Southern shareholders vote for activist investor Ancora's nominees to the company's board and backed a CEO change at the railroad. The advisory firm said it fav...
12h ago
DoJ seeks more details from U.S. Steel, Nippon Steel on proposed merger
(Reuters) - The U.S. Department of Justice is seeking more details and documentary materials as part of an antitrust review of Nippon Steel's proposed $15 billion takeover of U.S. Steel, the American firm said on Thursday. Commonly known as a "seco...
12h ago
Booking reports higher quarterly profit on international travel demand
(Reuters) - Booking Holdings reported higher first-quarter profit on Thursday, as strong demand for international travel offset moderating leisure travel demand in the U.S. International travel demand is expected to remain strong this year as globa...
12h ago
Expedia lowers full-year revenue forecast on slow B2C growth
(Reuters) - Online travel agency Expedia cut its 2024 revenue growth forecast on Thursday, as gross bookings were hit by poor performance in its business-to-consumer segment. Shares of the company were down about 8% after the bell. "Given the Vrbo ...
12h ago
Amgen first-quarter profit dips 1%, revenue rises 22%
By Deena Beasley (Reuters) - Amgen reported a slightly lower first-quarter profit on Thursday, citing higher operating and interest expense from its recent acquisition of rare disease drugmaker Horizon Therapeutics, partially offset by double-digit...
13h ago
Pakistan pushes back deadline for expressions of interest to buy national airline
ISLAMABAD (Reuters) - Pakistan will push back the deadline for companies to express interest in buying national carrier Pakistan International Airlines to May 18, the country's privatisation minister said on Thursday. The extension, announced in a ...
13h ago