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WASHINGTON (Reuters) -U.S. Senate Majority Leader Chuck Schumer and 22 other Democratic senators on Thursday asked the attorney general to investigate allegations of collusion and price fixing between the oil industry and the Organization of the Petroleum Exporting Countries (OPEC). Earlier in May, the Federal Trade Commission gave the go-ahead to Exxon Mobil’s $60 billion …

Schumer asks DOJ to investigate FTC claim oil exec colluded with OPEC Read More »

By Harry Robertson LONDON (Reuters) – Global investors poured $3.6 billion into investment grade corporate bond funds in the week to Wednesday, Bank of America said on Friday, in the 31st straight week of inflows, the longest streak since 2019. A rise in global interest rates has forced up corporate bond yields, drawing in buyers …

Investor flows into corporate bonds on longest streak since 2019, says BofA Read More »

By Elizabeth Howcroft LONDON (Reuters) – More than $18 billion worth of cryptocurrency has moved into a new type of platform which offers investors rewards in exchange for locking up their tokens, in a complex scheme that analysts warn poses a risk for users and the crypto market. The soaring popularity of so-called “re-staking” is …

Crypto ‘re-staking’ platforms boom as traders chase bigger returns Read More »

By Jessica DiNapoli NEW YORK (Reuters) – Snack maker Mondelez resumed its production of Oreo cookies in Ukraine, after its plant in a small city in the eastern part of the country was badly damaged during Russia’s invasion roughly two years ago. Mondelez’s plant in Trostyanets is now fully rebuilt after opening partially last year …

After repairing its war-damaged factory, Mondelez resumes making Oreos in Ukraine Read More »

A look at the day ahead in European and global markets from Ankur Banerjee The time for waiting is almost over as inflation reports from Europe and the U.S. headline the day’s agenda, with any kind of surprise likely to sway markets as investors weigh the shifting expectations over global rates. First up will be …

Investors hold their breath for inflation data Read More »

By Lewis Krauskopf NEW YORK (Reuters) – Treasury yields are on the rise again, presenting a potential obstacle to a U.S. stock rally that has taken major indexes to record highs. The benchmark 10-year Treasury yield, which moves inversely to bond prices, hit nearly 4.64% this week, its highest level in about a month. It …

Analysis-‘Bothersome’ rebound in US yields casts shadow on stocks at record highs Read More »

By Ananya Mariam Rajesh (Reuters) -Nordstrom on Thursday warned of an uncertain economy and said consumers were resilient but selective, after the department store owner merely maintained its annual forecasts for sales and profit. Shares in Nordstrom dropped nearly 5% in after-market trading. The company, which sells pricier clothes, shoes, and accessories, beat first-quarter revenue …

Nordstrom’s reaffirmed annual forecasts overshadow quarterly revenue beat Read More »

(Reuters) – Ulta Beauty topped market expectations for first-quarter profit on Thursday, helped by steady demand for skincare and makeup as well as easing input costs. Shares of the company, which have fallen 22% so far this year, were up 8.4% in extended trading. Demand for beauty and personal care products has stayed resilient in …

Ulta Beauty beats first-quarter profit estimates on steady demand for skincare and makeup Read More »

EL PASO, Texas (Reuters) – Dallas Federal Reserve Bank President Lorie Logan on Thursday said she believes inflation is still heading to the Fed’s 2% target, although she can imagine “other paths” that the Fed ought to be prepared for. “I think there’s good reasons to think that we’re headed to 2% — we’re still …

Fed’s Logan: Inflation likely still heading to 2%, but bumpy Read More »