TOKYO (Reuters) – U.S. Trade Representative Katherine Tai said on Thursday Indo-Pacific Economic Framework (IPEF) trade negotiations are progressing “at a very quick pace” and she expects results from the talks as early as by the end of the year. The United States and 13 Indo-Pacific countries last year launched negotiations on IPEF, Washington’s first …
USTR’s Tai: Indo-Pacific trade talks could see results this year Read More »
DUBLIN (Reuters) -European Central Bank (ECB) policymaker Klaas Knot is “not uncomfortable” with current market expectations which envisage interest rates rising to around 3.85% from 3% currently, the Dutch central banker told the Irish Times in an interview. The ECB is expected to raise rates for a seventh straight meeting on May 4 in a …
ECB’s Knot ‘not uncomfortable’ with terminal rate market expectations Read More »
(Reuters) – Zions Bancorporation missed estimates for quarterly profit on Wednesday as higher provisions to cover loan losses offset the impact of rising rates on its interest income. Shares of Utah-based Zions fell 3% to $31.75 in extended trading after the lender reported a 3% drop in deposits from the previous quarter and a 16% …
Zions Bancorporation profit misses as provisions overshadow NIM gains Read More »
By Lewis Krauskopf, Sruthi Shankar and Ankika Biswas (Reuters) – The S&P 500 ended virtually unchanged on Wednesday while the Dow dipped as investors digested a mixed bag of corporate earnings, including upbeat reports from medical technology companies, countered by weakness in Netflix shares. The Dow was weighed down by declines in Walt Disney Co …
Dow dips, S&P 500 stable after medtech gains, Netflix drag Read More »
By Ann Saphir (Reuters) -U.S. economic activity was little changed in recent weeks as employment growth moderated somewhat and price increases appeared to slow, according to a Federal Reserve report published on Wednesday. “Expectations for future growth were mostly unchanged as well; however, two districts saw outlooks deteriorate,” the U.S. central bank said in its …
US economic activity little changed, Fed report shows Read More »
By Manya Saini and Tatiana Bautzer (Reuters) – Morgan Stanley’s profit beat expectations as wealth management revenue climbed in the first quarter, offsetting slumps in investment banking and trading revenue. The bank earned $1.70 per share, beating analysts’ average estimate of $1.62 per share, according to Refinitiv data. Its stock edged 0.5% higher to $90.34 in …
Morgan Stanley beats estimates as wealth management shines Read More »
A look at the day ahead in European and global markets from Tom Westbrook Traders are scaling back bets on U.S. rate cuts, but dialling up expectations for British hikes. On Tuesday, it was bigger-than-expected pay rises that strengthened expectations for the Bank of England to lift rates next month and to continue doing so …
BEIJING (Reuters) – China is formulating plans to boost the recovery and expansion of consumption, the state planner’s spokesperson Meng Wei said on Wednesday, signaling officials are worried about weak demand despite a sharp rebound in retail sales. China’s economy grew at a faster-than-expected pace in the first quarter, as businesses and consumers came out …
China says drafting plans to boost recovery, expansion of consumption Read More »
By Joe Cash and Pasit Kongkunakornkul BEIJING/BANGKOK (Reuters) – Bookings in China for trips abroad during the upcoming May Day holiday point to a continued recovery in travel to Asian countries, but the numbers remain far off pre-COVID levels with long-haul airfares soaring and not enough flights available. Overseas tour bookings for the upcoming holiday, …
Chinese tourists are back, but numbers still far from pre-COVID levels Read More »
By Tatiana Bautzer NEW YORK (Reuters) -Consumers are starting to fall behind on their credit card and loan payments as the economy softens, according to executives at the biggest U.S. banks, although they said delinquency levels were still modest. Profits at Bank of America Corp, JPMorgan Chase & Co, Wells Fargo & Co and Citigroup …
More US consumers are falling behind on payments Read More »
