(Reuters) – European stocks opened lower on Thursday, following a weak session on Wall Street a day earlier, when the Federal Reserve delivered a widely expected 25 basis-point rate hike and signalled that a pause in policy tightening could be near. The continent-wide STOXX 600 index slipped 0.4% by 0808 GMT, after closing at its …
European stocks open lower after Fed comments, banks drag Read More »
By Tatiana Bautzer and Chris Prentice NEW YORK (Reuters) – A “bull case” scenario for the shares of beleaguered First Republic Bank as it considers its options became more difficult on Wednesday after Treasury Secretary Janet Yellen said there is no discussion on insurance for all bank deposits without approval from the U.S. Congress. First …
By Lananh Nguyen and Nandita Bose NEW YORK (Reuters) – JPMorgan Chief Executive Jamie Dimon is scheduled to meet Lael Brainard, the director of the White House National Economic Council, while in Washington this week, according to a person familiar with the situation. The meeting agenda was unclear. The meeting comes as First Republic Bank’s …
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs amid recent turmoil in financial markets spurred by the collapse of two U.S. banks. The move set the …
Fed delivers small rate hike, sees possibility of ‘some additional’ tightening Read More »
By Supantha Mukherjee and Martin Coulter STOCKHOLM/LONDON (Reuters) – Rapid technological advances such as the ChatGPT generative artificial intelligence (AI) app are complicating efforts by European Union lawmakers to agree on landmark AI laws, sources with direct knowledge of the matter have told Reuters. The European Commission proposed the draft rules nearly two years ago …
As AI booms, EU lawmakers wrangle over new rules Read More »
LISBON (Reuters) – Portugal’s second-largest retailer Jeronimo Martins on Wednesday posted a 23% jump in fourth-quarter net profit as soaring inflation boosted sales – especially in Poland, its key market – but also dented its margins. The company, which netted 171 million euros ($185.65 million) from October to December, warned that food inflation remained high …
Inflation boosts Jeronimo Martins’ Q4 profit but dents margins Read More »
(Reuters) – Bitcoin dropped 4.5% to $26,916 at 20:07 GMT on Wednesday, losing $1,276 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 7% from the year’s high of $28,936 on March 22. Ether, the coin linked to the ethereum blockchain network, dropped 4.67 % to $1,722.6 on Wednesday, losing $84.3 …
(Reuters) -UBS Group AG will likely shrink Credit Suisse Group’s $10 billion shipping portfolio that it inherited as part of its emergency takeover on Sunday, the Wall Street Journal reported on Wednesday. UBS could also try to sell the portfolio, but doing so could prompt owners to move their accounts elsewhere, the WSJ reported, citing …
UBS likely to shrink Credit Suisse’s $10 billion shipping portfolio -WSJ Read More »
By Pratima Desai LONDON (Reuters) -Nickel delivered by London Metal Exchange (LME) approved warehouse firm Access World to commodity traders Trafigura and Stratton Metals turned out to be stone, two sources with knowledge of the matter said on Tuesday. Last week, the LME, cancelled nine warrants or 54 tonnes of nickel which had failed to …
LME warehouse delivers stones instead of nickel to Trafigura -sources Read More »
By Julia Payne LAUSANNE, Switzerland (Reuters) -The recent rout in bank shares will not have a knock-on effect on commodities, global trading firm Trafigura’s chief financial officer Christophe Salmon told the Financial Times Commodities Global Summit on Wednesday. “On banks’ appetite for trading firms, let’s not forget trading firms give banks a lot of business …
Banking turmoil will not have knock-on effect on commodities -Trafigura CFO Read More »
