By Iain Withers LONDON (Reuters) -British bank NatWest raised its full-year guidance and made a bumper payout to shareholders on Friday after rising interest rates lifted its finances, despite runaway inflation threatening to crunch the UK economy. NatWest reported pretax profit up 13% at 2.6 billion pounds ($3.17 billion) for the six months to June …
NatWest boosts investor payouts even as inflation gathers pace Read More »
MEXICO CITY (Reuters) -Mexican distiller Becle, better known as the parent company of the popular Jose Cuervo tequila brand, posted a 58.6% jump in second-quarter net profit on increased demand for the spirit across all regions except the United States and Canada, the company said Thursday. Becle’s net profit rose to 1.40 billion Mexican pesos …
Cuervo parent company Becle reports 58.6% rise in Q2 net profit Read More »
NEW YORK (Reuters) -Private equity and hedge funds cautioned on Thursday that a proposed U.S. tax increase on carried-interest income could potentially hurt small businesses and big investors, such as endowments, foundations and pension funds. Carried interest refers to a longstanding Wall Street tax break that let many private equity and hedge fund financiers pay …
Private equity, hedge funds object to U.S. carried-interest tax hike proposal Read More »
WASHINGTON (Reuters) – U.S. banking regulators have ordered crypto firm Voyager Digital to cease and desist from making “false and misleading” claims regarding deposit insurance protection for customers. The Federal Reserve and the Federal Deposit Insurance Corp sent a letter to the firm on Thursday, stating they believed that Voyager had misled customers by claiming …
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks on Thursday rallied for a second day, with all three major indexes ending up more than 1% as data showing a second consecutive quarterly contraction in the economy fueled investor speculation the Federal Reserve may not need to be as aggressive with interest rate hikes as …
Wall St ends up sharply for 2nd day; Amazon.com jumps after hours Read More »
By Trevor Hunnicutt and Steve Holland WASHINGTON (Reuters) -President Joe Biden tried to soothe Americans’ worries about the strength of the economy on Thursday, after new data showed it had contracted for two quarters in a row. Biden and top White House officials touted several positive facts about the U.S. economy, including that employers are …
‘Doesn’t sound like a recession’: Biden optimistic despite economy contracting Read More »
By Diane Bartz, David Shepardson and Anirban Sen (Reuters) – JetBlue Airways Corp and Spirit Airlines Inc face an uphill struggle getting U.S. regulators to approve their combination after Spirit talked up the chances of the deal being blocked when it was resisting the $3.8 billion acquisition bid. Spirit flagged the regulatory concerns when it …
Analysis: JetBlue, Spirit brace for tough regulatory review Read More »
By Fergal Smith TORONTO (Reuters) – Canada’s main stock index rose on Thursday to its highest level in more than six weeks as investors cheered corporate earnings results, shrugging off data that showed the U.S. economy contracting for a second straight quarter. The Toronto Stock Exchange’s S&P/TSX composite index ended up 202.15 points, or 1.1%, …
TSX notches 6-week high as investors position for rebound Read More »
By David Shepardson WASHINGTON (Reuters) -Automakers and U.S. lawmakers on Thursday were closely reviewing details of a proposed expansion of the electric vehicle tax credit that could help retool factories to build green vehicles and cut greenhouse gas emissions. Under a deal announced by Senator Chuck Schumer, the 200,000-vehicle per manufacturer cap on the $7,500 …
U.S. Senate Democratic electric vehicle tax credit plan faces questions Read More »
By Clare Jim HONG KONG (Reuters) -Struggling Chinese developer Evergrande Group is selling its Hong Kong headquarters via a tendering process that ended on Thursday, a source with direct knowledge said, and local developer CK Asset confirmed it has bid for it. With more than $300 billion in liabilities, Evergrande has been trying to sell …
China Evergrande gets CK Asset bid for Hong Kong headquarters building Read More »
