(Reuters) – Mastercard Inc on Thursday said the U.S. Justice Department was conducting an antitrust investigation of its U.S. debit program and competition with other payment networks. The company in a filing said it had received a civil investigative demand, the civil equivalent of a subpoena, from the Justice Department’s Antitrust Division. The filing did …
Mastercard reports U.S. antitrust probe of debit card program Read More »
By Sinéad Carew, Sruthi Shankar and Ankika Biswas (Reuters) – The tech-heavy Nasdaq led a Wall Street rally on Thursday as a strong quarterly report from Facebook parent Meta Platforms Inc overshadowed concerns over slowing U.S. economic growth. Shares in Meta closed up 13.9% after touching their highest level in more than a year after …
Wall St rallies as earnings season boost offsets economy worries Read More »
By Niket Nishant and Chibuike Oguh (Reuters) – First Republic Bank’s shares rebounded on Thursday from a steep sell-off that wiped out nearly 60% of the regional bank’s market value this week. San Francisco-based First Republic disclosed on Monday it had lost more than $100 billion of deposits in the first quarter, triggering a sharp …
First Republic notches modest gain after steep sell-off Read More »
By Michael S. Derby (Reuters) -Federal Reserve emergency lending to banks rose modestly in the latest week and remained at very high levels, even as many central bankers argue the worst of the banking sector’s latest stresses are waning. The central bank said that borrowing through three programs aimed at ensuring banks have the liquidity …
Fed emergency lending to banks ticks up modestly in latest week Read More »
By David Morgan and Richard Cowan WASHINGTON (Reuters) – The U.S. Senate showed no sign of moving to avoid a looming debt-ceiling crisis on Thursday, as Republicans rejected calls to raise the $31.4 trillion limit without conditions and Democrats dismissed the idea of talks. A day after the House of Representatives approved a Republican package …
Democrats, Republicans dig in on debt-ceiling standoff after House action Read More »
By Deena Beasley (Reuters) -Amgen Inc on Thursday reported lower first-quarter profit as expenses rose and a 2% increase in sales of its own drugs was offset by lower revenue from its deal to manufacture COVID-19 antibody treatments for Eli Lilly and Co. Amgen reported revenue of $6.11 billion for the quarter, down 2% from …
Amgen 1st quarter profit falls as costs rise, sales flatten Read More »
By Lawrence White LONDON (Reuters) – Allegations made against British bank Barclays’ former CEO Jes Staley regarding his ties with sex offender Jeffrey Epstein are “very serious”, the lender’s current CEO C.S. Venkatakrishnan said on Thursday. In a call with reporters after the lender’s first quarter results were published, Venkat said he was not in …
Allegations against former Barclays CEO Staley ‘very serious’ – CEO Read More »
By Marie Mannes STOCKHOLM (Reuters) -Sweden-based automaker Volvo Cars reaffirmed its outlook on Thursday and said it saw no point in cutting prices given healthy demand as its operating earnings beat estimates. Its shares shot up 8% at the market open before retreating to trade flat at 0736 GMT, which Bernstein analyst Daniel Roeska said …
Volvo Cars sees no need to cut prices as demand is healthy Read More »
By Richa Naidu LONDON (Reuters) – Unilever’s store ice cream brands, which include Ben & Jerry’s and Magnum, are losing market share to supermarket own-brands as consumers seek cheaper alternatives after big price hikes for some of the world’s top-selling labels. The British company, which sells Cornettos cones and Talenti tubs, on Thursday reported a …
Cornetto maker Unilever’s ice cream sales melt amid private label shift Read More »
By Natalie Grover and Maggie Fick LONDON (Reuters) – AstraZeneca on Thursday beat expectations for first-quarter profit and revenue, as buoyant sales of cancer drug Imfinzi and strong demand for its roster of drugs in emerging markets helped to offset dwindling COVID product sales. The company’s sales and outlook highlight the rapid decline of its …
AstraZeneca beats estimates on strong emerging market sales as COVID wanes Read More »
