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...
26m 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...
33m 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. ...
34m 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...
1h 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...
2h 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...
2h 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...
2h 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...
2h 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 ...
3h 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...
3h 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...
3h 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...
3h 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....
3h 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 ... ...
4h 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...
4h ago
Euro zone economy, employment expands by 0.3% in first quarter
FRANKFURT (Reuters) - The euro zone economy grew by 0.3% in the first quarter of the year, suggesting a slow recovery is now underway after six straight quarters of stagnant or negative growth, Eurostat said on Wednesday, confirming a preliminary e...
4h ago
Siemens to sell drive division to KPS for $3 billion, reports Handelsblatt
BERLIN (Reuters) - Germany's Siemens is to sell its drive division to financial investor KPS for 3 billion euros ($3.25 billion), business daily Handelsblatt reported on Wednesday, citing financial sources. The company plans to announce the deal on...
4h ago
Chinese EV maker Aiways to go public in US via deal with Hudson Acquisition SPAC
By Nick Carey LONDON (Reuters) - Chinese electric vehicle maker Aiways will go public via a merger with U.S. special purpose acquisition company Hudson Acquistion Corp in a deal that should value the company around $400 million, the two companies s...
4h ago
AI's use in finance may need new rules, ECB says
FRANKFURT (Reuters) - The use of artificial intelligence in finance is still in its infancy but it needs to be monitored and possibly regulated to prevent harm to consumers and ensure the proper functioning of markets, the European Central Bank sai...
5h ago
India's April merchandise trade deficit at $19.1 billion
NEW DELHI (Reuters) - India's merchandise trade deficit in April stood at $19.1 billion, according to a Reuters calculation based on export and import data released by the government on Wednesday. Economists had expected the country's April trade d...
5h ago
IEA trims 2024 oil demand growth forecast, widening gap with OPEC view
By Natalie Grover LONDON (Reuters) - The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Wednesday, further expanding the chasm between it and oil producer group OPEC regarding the outlook for global oil demand...
5h ago
Japan's top bank MUFG posts narrower-than-expected Q4 decline
TOKYO (Reuters) - Mitsubishi UFJ Financial Group (MUFG) posted a narrower-than-expected decline in fourth-quarter profit on Wednesday, and forecast slight profit growth in the current financial year. For the January-March fourth quarter, MUFG repor...
6h ago
Industrials lift European shares to record high ahead of US inflation data
(Reuters) - Europe's benchmark index climbed to a record high on Wednesday, as upbeat earnings boosted industrials and healthcare stocks, while investors buckled up for a highly anticipated U.S. inflation print. The pan-European STOXX 600 was up 0....
6h ago
Analysis-BHP's options for Anglo American deal narrow as deadline looms
By Melanie Burton and Scott Murdoch MELBOURNE (Reuters) - BHP Group's options for its pursuit of rival miner Anglo American include sweetening its $42.7 billion buyout offer, making a hostile bid or walking away for now as it approaches a May 22 de...
6h ago
Exclusive-U.S. warned Raiffeisen access to dollar system could be curbed over Russia, source says
By John O'Donnell and Alexandra Schwarz-Goerlich FRANKFURT/VIENNA (Reuters) - Raiffeisen Bank International was warned by the U.S. Treasury in writing that its access to the U.S. financial system could be curbed because of its Russia dealings, acco...
6h ago