/cloudfront-us-east-2.images.arcpublishing.com/reuters/P4ZIBY5SXFKTNIGM2MZALOE7UU.jpg "Fed members, shaping the 2024 campaign economy, head to Capitol Hill")
WASHINGTON, June 21 (Reuters) – U.S. Federal Reserve Chair Jerome Powell and nominees for three Fed Board seats will testify on Capitol Hill Wednesday, laying out over several hours of hearings a set of views that could broadly shape the economic conditions facing the country during a contentious presidential election campaign next year. The themes … [Read more…]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/RAHUN6AL7ZKAVHQVKYRQH3TPRU.jpg "Motor vehicles, building materials lift US retail sales in May")
Retail sales increase 0.3% in May; core sales gain 0.2% Weekly jobless claims unchanged at 262,000 Manufacturing production rises 0.1% in May Import prices drop 0.6%; down 5.9% year-on-year WASHINGTON, June 15 (Reuters) – U.S. retail sales unexpectedly rose in May as consumers stepped up purchases of motor vehicles and building materials, which could help … [Read more…]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/XV5JRVOA5BKYZBMMMUPFKPGDMY.jpg "HSBC announces potential revised terms for stalled France sale")
LONDON, June 14 (Reuters) – HSBC (HSBA.L) on Wednesday announced new potential terms that might pave the way for a strategically-important sale of its French retail banking business after the transaction stalled earlier this year on regulatory capital concerns. HSBC said the indirect shareholder of Cerberus-backed My Money Group, which is buying HSBC’s French retail … [Read more…]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/QHP4TW47PBOCXH3C452C5MGAM4.jpg "Shell to exit Pakistan unit with sale of shares")
KARACHI, June 14 (Reuters) – Shell Pakistan (SHEL.PSX) said on Wednesday that its parent company, Shell (SHEL.L) unit Shell Petroleum Company, would be exiting Pakistan with the sale of its 77% shareholding in the in the local business. The move came after Shell Pakistan (SPL) suffered losses in 2022 due to exchange rates, the devaluation … [Read more…]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/G7WJHVDR5RNJLMBSQDNJ4JIGV4.jpg "EV maker Fisker pushes into emission credit market to boost sagging business")
June 6 (Reuters) – Electric vehicle startup Fisker (FSR.N) has signed a deal to sell emission credits to a major automaker, looking to enter a market it is betting on to navigate a stormy economic environment and a price war sparked by Tesla (TSLA.O). The announcement on Tuesday comes barely a month after Fisker lowered … [Read more…]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/CQPGAXMWQRMHVHYK2GFFCSHSLE.jpg "Bank of England completes 20 billion pound corporate bond sale programme")
LONDON, June 6 (Reuters) – The Bank of England said on Tuesday it was ending its programme of corporate bond sales, after offloading almost all of the 20 billion pounds ($24.8 billion) it bought as part of its quantitative easing (QE) programme. The BoE first bought corporate bonds in 2016, to support the economy after … [Read more…]
STOCKHOLM, June 5 (Reuters) – Shares in Swedish real estate company SBB (SBBb.ST) soared as much as 26% on Monday after incoming CEO Leiv Synnes said there would not be a fire sale of the company’s assets. Hit by soaring interest rates that forced the company to cancel its dividend and scrap a share issue, … [Read more…]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/BXJO57RDIBOBFCO66G3LLLBZ6Q.jpg "Russia to increase daily forex sales in coming month")
June 5 (Reuters) – Russia’s finance ministry said on Monday it would sell 3.6 billion roubles’ ($44.3 million) worth of foreign currency a day between June 7 and July 6, an increase in the volume of daily operations from the previous month. After a hiatus of several months, Russia resumed foreign currency interventions in January, … [Read more…]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/TEKYL336DFMYLBFJ3CTM2N4FR4.jpg "Standard Chartered CEO: Credit Suisse sale to UBS was ‘surprising’")
DOHA, May 23 (Reuters) – Standard Chartered CEO Bill Winters on Tuesday said the sale of Credit Suisse (CSGN.S) to UBS (UBSG.S) was “surprising” given the “unusual” terms of the deal, which prioritised shareholders over bondholders. “The conclusion was very surprising to me, in terms of the way that the bank was resolved through this … [Read more…]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/B54IQXHT75O3DM4DS7DXNAS6HI.jpg "PacWest shares jump after .6 bln real estate loan sale")
May 22 (Reuters) – Shares of PacWest Bancorp (PACW.O) jumped on Monday after the troubled regional lender announced that it had agreed to sell $2.6 billion worth of real estate construction loans at a discount in a bid to improve its balance sheet. PacWest’s stock rose nearly 20% on the deal, giving the Los Angeles-based … [Read more…]