By David Randall NEW YORK (Reuters) – Shares of a handful of U.S. regional banks popped on Thursday after famed bond investor Bill Gross said the danger in investing in them had passed. Gross, a billionaire once known as the “Bond King” after founding fixed income giant PIMCO, said he was buying shares of Truist …
US regional banks shares surge after Bill Gross says they have hit bottom Read More »
(Reuters) – Leaders of the United Auto Workers union on Thursday agreed to send a tentative contract agreement with Chrysler-parent Stellantis to members for a ratification vote, a source told Reuters. UAW President Shawn Fain plans to unveil additional details of the labor agreement that includes a 25% pay hike and improved retirement benefits and …
UAW leaders send Stellantis contract deal to members for vote -source Read More »
By Diane Bartz, Arriana McLymore and David Shepardson WASHINGTON (Reuters) -Amazon.com used a series of illegal strategies to boost profits at its online retail empire, including an algorithm that pushed up prices U.S. households paid by more than $1 billion, the U.S. Federal Trade Commission detailed in a new court filing on Thursday. The FTC …
Amazon made $1 billion through secret price raising algorithm -US FTC Read More »
(Reuters) – Booking Holdings on Tuesday reported a better-than-expected profit for the third quarter, as the online agency benefited from robust travel demand through the summer. Travel operators in the last few months have seen a strong rebound in international travel as consumers took advantage of a strong dollar, flexible work arrangements and fewer mandates …
Booking Holdings beats profit estimates on strong summer travel spend Read More »
By Hannah Lang (Reuters) – Cryptocurrency exchange Coinbase on Thursday beat estimates for third-quarter revenue, but saw trading volumes decline for the second quarter in a row. Trading volumes at the crypto exchange in the third quarter came in at $11 billion, compared with $26 billion a year earlier, mirroring a similar fall in the …
Coinbase beats estimates but sees lower trading volumes in third quarter Read More »
By Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) -Russia’s dominant lender Sberbank reported a record quarterly profit of 411.4 billion roubles ($4.41 billion) on Thursday and a return on equity (ROE) of 27.6% as it recovers from slumping profits in 2022. Sberbank saw an almost 80% drop in profits last year as sweeping Western sanctions …
Russia’s dominant lender Sberbank posts record Q3 profits Read More »
ZURICH (Reuters) – The Swiss National Bank said on Thursday it will start a pilot project next month using central bank digital currency (CBDC) for financial institutions, with UBS and Zuercher Kantonal Bank among those signed up to take part. The pilot, using a real Swiss franc wholesale CBDC, will also involve four other commercial …
Swiss National Bank to pilot wholesale digital currency with UBS, other banks Read More »
(Reuters) – DoubleLine Capital CEO Jeffrey Gundlach expects interest rates are about to trend lower as the U.S. economy deteriorates further and tips into a recession in early 2024, he said in an interview with CNBC on Wednesday. “One thing that the market is going to have to confront is we cannot sustain these interest …
DoubleLine’s Gundlach expects interest rates to fall as US economy worsens Read More »
By Douglas Gillison and Chris Prentice (Reuters) – The Federal Deposit Insurance Corporation (FDIC) is investigating potential misconduct by executives and board members of First Republic Bank, raising the prospect of stiff penalties for the failed bank’s former bosses. “We can confirm a D&O probe into First Republic is taking place,” a spokesperson told Reuters, …
By Arathy Somasekhar HOUSTON (Reuters) – Marathon Oil on Wednesday posted a third quarter profit that fell 44% from a year ago as energy prices fell, but results beat Wall Street analysts’ forecasts on higher than expected oil and gas production. Net production for the quarter rose nearly 20% to 421,000 barrels of oil and …
Marathon Oil profit tops analysts’ estimates on higher production Read More »
