(Reuters) – Euro zone factory activity contracted further last month, albeit not by as much as initially thought, while the cost of raw materials fell at the fastest pace in nearly three years, a survey showed on Tuesday. The HCOB final manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, fell to 45.8 in April …
Euro zone factory downturn deepened in April – PMI Read More »
By Ron Bousso and Shadia Nasralla LONDON (Reuters) -BP made a profit of $5 billion in the first quarter of 2023, up from the previous three months on the back of strong oil and gas trading, but the company’s shares fell as it slowed a share buyback programme. BP’s results, which beat forecasts, follow a …
BP’s profit rises to $5 billion as share buyback slows Read More »
By Stella Qiu SYDNEY (Reuters) -Australia’s central bank on Tuesday stunned markets by raising its cash rate 25 basis points when traders had looked for an extended pause, saying inflation was way too high and warned that even further tightening may be needed to bring it to heel. The unambiguously hawkish policy stance sent the …
Australia central bank stuns with 25-bps hike, warns more might be needed Read More »
(Reuters) -U.S. President Joe Biden is likely to nominate current Federal Reserve Governor Philip Jefferson to be the central bank’s vice chair and World Bank economist Adriana Kugler as a governor, the New York Times reported on Monday. Jefferson, a former economics professor who has been on the seven-seat Fed Board for just under a …
White House considers two key nominations at the Fed -NYT Read More »
(Reuters) – International Business Machines Corp Chief Executive Arvind Krishna said in an interview the company expects to pause hiring for roles as roughly 7,800 jobs could be replaced by Artificial Intelligence in the coming years, Bloomberg News reported on Monday. IBM did not immediately respond to a Reuters request for comment. (Reporting by Mrinmay …
IBM to pause hiring, plans to replace 7,800 jobs with AI – Bloomberg News Read More »
HOUSTON (Reuters) -The U.S. will not block a court auction of shares in oil refiner Citgo Petroleum Corp’s parent, Justice Department officials told a federal court, paving the way for a potential seizure by creditors of Venezuela’s most-prized foreign asset. The U.S. Treasury Department since 2020 has protected Citgo from creditors with claims against Venezuela, …
US Treasury to allow auction of shares in Citgo Petroleum’s parent Read More »
By Stephanie Kelly and Jarrett Renshaw NEW YORK (Reuters) -The U.S. government could delay a decision on giving electric vehicle (EV) manufacturers tradable credits under a renewable fuel scheme, due to concern about legal challenges to the plan, two sources familiar with the matter said. The plan would have given EV automakers such as Tesla …
US government may delay decision on electric vehicles biofuel program Read More »
(Reuters) – BlackBerry said on Monday it will conduct a review of strategic alternatives, which include the possible separation of one or more of the company’s businesses. The Canadian technology company’s US-listed shares rose 7% in trading after the bell. BlackBerry said it has not set a timeline for the process and does not intend …
BlackBerry to review strategic options for its business Read More »
WASHINGTON (Reuters) – No. 2 U.S. Senate Republican John Thune on Monday said the news that the federal government could no longer be able to pay its bills as soon as June 1 was an urgent signal that Democratic President Joe Biden and Republican House Speaker Kevin McCarthy need to begin talks on raising the …
US Senate Republican urges Biden, McCarthy to meet on debt ceiling: ‘Time is a-wastin’ Read More »
By Doyinsola Oladipo NEW YORK (Reuters) -MGM Resorts International on Monday beat Wall Street estimates for first-quarter revenue due to an increase in traffic and business volumes in Macau and Las Vegas. Shares of the company rose 1.2% in trading after the bell. Casino operators are benefiting from the rebound in traffic in gaming hubs …
MGM Resorts beats Wall Street estimates for first-quarter revenue Read More »
