Renaissance Technologies, Two Sigma among funds that dumped Boeing in first quarter
By David Randall NEW YORK (Reuters) - Renaissance Technologies, Two Sigma Investments and Arrowstreet Capital were among large firms that sold all their shares of embattled aircraft maker Boeing Co in the first quarter, according to securities fili...
2h ago
IMF board approves members to channel reserve assets to MDBs for hybrid instruments
By Andrea Shalal WASHINGTON (Reuters) - The International Monetary Fund on Wednesday said its executive board has approved members to use their Special Drawing Rights (SDRs), or IMF reserve assets, to acquire so called hybrid capital bonds issued b...
2h ago
US Congress passes broad aviation safety, consumer bill
WASHINGTON (Reuters) - The U.S. House of Representatives on Wednesday overwhelmingly passed a broad aviation bill to boost air traffic controller staffing, increase funding to avert runway close-call incidents, and speed refunds for canceled flight...
2h ago
Explainer-Austria's Raiffeisen faces US wrath over Russian business
LONDON/FRANKFURT (Reuters) - The U.S. Treasury has warned Austria's Raiffeisen Bank International (RBI) that its access to the U.S. financial system could be restricted because of its Russian dealings, according to a person who has seen a letter de...
2h ago
Swedish investor AP7 to back study on Mondelez Russia business
By Jessica DiNapoli NEW YORK (Reuters) - At least one Mondelez investor, Swedish pension fund AP7, will back a resolution calling for the Oreo cookie maker to conduct an independent study of the risks of continuing to do business in Russia, which f...
3h ago
Fed gets some good news on inflation progress
By Ann Saphir (Reuters) - Federal Reserve policymakers waiting to see renewed progress on inflation before reducing borrowing costs got some encouraging data on Wednesday with a government report showing inflation eased a bit in April. The 3.4% ...
3h ago
KKR remedies on Telecom Italia deal expected next week, source says
(Corrects day of week in first paragraph) By Elvira Pollina ROME (Reuters) - U.S. investment firm KKR will likely offer remedies next week in an attempt to secure EU antitrust approval to buy Telecom Italia's (TIM) fixed-line access network, a pers...
3h ago
Airbus unveils half-plane, half-copter in quest for speed
MARIGNANE, France (Reuters) - Airbus Helicopters showcased an experimental half-plane, half-helicopter on Wednesday in a quest for speed as competition heats up to define the rotorcraft of the future. The Racer is a one-off demonstrator model that ...
4h ago
Trafigura, IXM caught in Comex copper short squeeze as prices hit record
By Julian Luk, Pratima Desai, Siyi Liu and Eric Onstad LONDON/BEIJING (Reuters) - Commodity traders Trafigura and IXM are seeking physical copper to cover large bearish positions on the CME, where U.S. copper prices surged to record highs on Wednes...
4h ago
Video game maker Ubisoft swings to full-year operating profit on record bookings
By Gaelle Sheehan (Reuters) - French video games group Ubisoft swung to an operating profit for its full-year to end-March, it said on Wednesday, as record bookings helped it reverse a year earlier loss of 500 million euros, its biggest ever. Ubiso...
5h ago
Anthropic taps Instagram co-founder as product chief
(Reuters) - Artificial intelligence startup Anthropic has appointed Instagram co-founder Mike Krieger as its chief product officer, the company said on Wednesday, it looks to spruce up its AI offerings and get ahead of rivals. Krieger will oversee ...
5h ago
Bernanke urges Bank of England to debate publishing rate projections
(Reuters) - Former U.S. Federal Reserve chair Ben Bernanke said on Wednesday he would be "disappointed" if the Bank of England did not debate the possibility of publishing its own projections for the likely path of interest rates. Bernanke, who aut...
5h ago
Column-China tariffs could boost Fed rate cut case: McGeever
By Jamie McGeever ORLANDO, Florida (Reuters) - Escalation of the U.S.-China trade war seems unavoidable whoever wins the White House in November, but the equally inevitable inflationary pressures that brings won't automatically steer the Federal Re...
5h ago
Uber unveils US shuttle service, expands Costco tie-up to woo price-conscious users
By Yuvraj Malik and Arsheeya Bajwa (Reuters) - Uber Technologies is introducing a shuttle service in the U.S. and widening a delivery tie-up with membership-only retailer Costco as part of a series of initiatives unveiled on Wednesday to attract p...
5h ago
US crude stocks, gasoline and distillate inventories fall, EIA says
DENVER (Reuters) - U.S. crude stocks, gasoline and distillate inventories fell in the week ending May 10, the Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 2.5 million barrels to 457 million barrels in the wee...
6h ago
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...
6h 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...
6h 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...
6h 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...
6h 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...
6h 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...
7h 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...
7h 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...
7h 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...
7h 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, ...
7h ago