ZURICH (Reuters) -UBS Chief Executive Sergio Ermotti said on Wednesday that the Swiss bank was working on closing its merger with Credit Suisse by the end of May or early June. Speaking at the Finanz ’23 conference in Zurich, Ermotti also repeated his bank’s line that all options were still on the table concerning Credit …
UBS aims to close Credit Suisse deal by end of May, early June-CEO Read More »
By Devayani Sathyan BENGALURU (Reuters) – Australia’s central bank will likely deliver one more 25-basis-point interest rate increase by end-September to 4.10% following a surprise hike on Tuesday, according to a slim majority of economists in a snap Reuters poll. The Reserve Bank of Australia, which apologized last year for providing unclear guidance, has sent …
RBA to hike rates further this year, say economists in snap poll- Reuters poll Read More »
By Fergal Smith TORONTO (Reuters) – Greater Toronto Area (GTA) home prices increased in April from March as new listings posted a steep annual decline, adding to evidence that the housing market has turned a corner after being buffeted by sharply higher borrowing costs. The average price of a GTA home rose to C$1.153 million …
Toronto home prices rise for third month in April Read More »
DUBLIN (Reuters) – Ryanair flew 16 million passengers in April, up 13% year-on-year to record its third busiest month for traffic ever, Europe’s largest airline by passenger numbers said on Wednesday. The average proportion of empty seats per flight for the period – which included the Easter holidays – fell to 6%. The airline also …
Ryanair traffic jumps 13% in April to record third busiest month ever Read More »
By Jörn Poltz MUNICH (Reuters) -Former Audi boss Rupert Stadler is ready to make a confession about his role in the diesel emissions scandal in exchange for a suspended sentence and a payment of 1.1 million euros ($1.21 million), he and his defence team said on Wednesday. The former CEO has been on trial since …
Former Audi boss agrees deal to make confession in diesel emissions scandal Read More »
By Giulio Piovaccari and Gilles Guillaume MILAN (Reuters) -Stellantis, the world’s third-largest carmaker by sales, said on Wednesday its revenue rose 14% in the first quarter on higher shipments, lifted by an improvement in semiconductor supply, and stronger pricing power. However, inventories at Stellantis rose in the January-March period as logistic problems, which hit Europe …
Stellantis faces inventory ‘challenge’ as chip supply helps sales Read More »
(Reuters) -Prudential Financial Inc reported a lower-than-expected quarterly profit on Tuesday, as the life insurer saw a decline in assets under management. The respite in the economy after the markets priced in a milder recession was short-lived as a string of high-profile bank collapses sparked a sector-wide turbulence last month and roiled financial stocks. As …
Prudential Financial profit misses on lower assets under management Read More »
(Reuters) – Simon Property Group Inc’s first-quarter revenue beat market expectations on Tuesday, benefiting from a strong leasing demand after pandemic-induced store closures. Despite growing fears of a recession in the United States, mall operators are seeing a rise in leasing demand from tenants occupying mall spaces to cater to customers. “Tenant demand is excellent, …
Simon Property revenue beats on strong leasing demand Read More »
By Chavi Mehta and Jane Lanhee Lee (Reuters) -Advanced Micro Devices expects sales growth in its PC and data center businesses in the second half, Chief Executive Lisa Su said on Tuesday, but a below-expectations second-quarter forecast showed the chip market will remain weak until then. AMD shares dropped 5% after hours. Executives at AMD …
AMD sees better half of 2023, but second-quarter forecast misses estimates Read More »
By Carolina Mandl and Svea Herbst-Bayliss BEVERLY HILLS, California (Reuters) – Wells Fargo & Co CEO Charlie Scharf said on Tuesday the banking industry is “extremely strong” but added he expects more volatility as market participants assess the health of financial institutions. “Talking about regional banks as one – it just makes absolutely no sense,” …
Wells Fargo CEO says regional banks are strong, but expects turmoil Read More »
