LONDON (Reuters) – European banking stocks headed for their largest one-day fall in nine months on Friday, a day after a sharp sell-off in U.S. banks. Europe’s STOXX banking index fell 4.2%, set for its biggest one-day slide since early June, with declines for most major names including HSBC down 4.5% and Deutsche Bank down …
European bank shares tumble day after U.S. market turmoil Read More »
By Allison Lampert (Reuters) -The union representing American Airlines pilots will take a strike authorization vote in April, underscoring a broader push by North American pilots to make gains on salary and working conditions as air traffic increases sharply. The vote announced by the union on Thursday will conclude on April 30 and follows Delta …
American Airlines pilots union sets April strike authorization vote Read More »
(Reuters) – Gap Inc on Thursday forecast full-year sales below Wall Street estimates, signaling a slowdown in demand as inflation-weary consumers curb discretionary spending. Shares of the company fell about 7% in extended trading. With the Federal Reserve prepared to raise interest rates more than expected in an attempt to control inflation, consumers, especially at …
Gap sees weak annual sales as inflation-hit consumers rein in spending Read More »
By Steve Scherer and David Ljunggren OTTAWA (Reuters) – The Bank of Canada needs more evidence to gauge if interest rates are high enough to tame inflation, in part because the economies of major trading partners are doing better than forecast, Senior Deputy Governor Carolyn Rogers said on Thursday. On Wednesday, the bank left its …
Bank of Canada says more evidence needed to know if rates are high enough Read More »
(Reuters) – Oracle Corp missed quarterly revenue estimates on Thursday, as businesses slowed down IT spending against the backdrop of a sobering economic outlook. Back-to-office and hybrid work have pushed up demand for the company’s suite of cloud software, especially from large businesses. However, Oracle has yet to find its footing in the booming cloud …
Oracle misses third-quarter revenue estimates as cloud demand staggers Read More »
By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits increased by the most in five months last week, but the underlying trend remained consistent with a tight labor market. Part of the larger-than-expected rise in claims reported by the Labor Department on Thursday reflected a surge in applications …
US weekly jobless claims post largest rise in 5 months; labor market still tight Read More »
(Reuters) – Walt Disney Co Chief Executive Bob Iger Thursday said the studio may resume making films and television shows its rivals, marking a departure from recent years, when its production resources were harnessed to launch and grow its marquee Disney+ steaming service. Iger told the Morgan Stanley Technology, Media and Telecom Conference in San …
Disney reconsiders making content for others under Bob Iger Read More »
WASHINGTON (Reuters) – U.S. Senator Marco Rubio on Thursday introduced legislation that would block tax credits for electric vehicle batteries produced using Chinese technology. The proposal would bar credits to Ford Motor’s deal to use technology from Chinese battery company CATL as part of the automaker’s plan to spend $3.5 billion to build a battery …
US Senator Rubio seeks to block credits for EV batteries using Chinese technology Read More »
(Reuters) -SVB Financial Group shares plunged more than 62% on Thursday, a day after the lender launched a $1.75 billion share sale to shore up its balance sheet and navigate declining deposits from startups struggling for funds amid increased spending. The shares were on track for their biggest loss in 25 years as the bank …
Silicon Valley Bank shares plunge on stock-sale plan to stem cash burn Read More »
By Sinéad Carew and Amruta Khandekar (Reuters) – Wall Street’s three major stock indexes closed lower on Thursday, with bank stocks creating the biggest drag while investors worried that Friday’s jobs report could spur aggressive interest rate hikes by the Federal Reserve. The S&P 500’s bank index hit its lowest level since October as investors …
Wall St falls on bank stocks tumble, jobs report jitters Read More »
