JPMorgan executives emphasize employee health, wellbeing after BofA banker death
NEW YORK (Reuters) - JPMorgan Chase's top executives on Monday emphasized the importance of employee health in response to a question about intense working conditions. A junior banker at Bank of America, Leo Lukenas III, died from a blood clot earl...
5h ago
Key Senate Democrat calls for new leadership at FDIC
WASHINGTON (Reuters) - Senate Banking Committee Chairman Sherrod Brown called for new leadership at the troubled Federal Deposit Insurance Corporation Monday, urging President Joe Biden to immediately nominate someone to replace current Chairman Ma...
6h ago
Brazil central bank plans year-end proposal for crypto regulation
BRASILIA (Reuters) - Brazil's central bank announced on Monday that it has decided to divide the process of regulating crypto-assets and virtual asset service providers into phases, with regulatory proposals expected by the end of this year. The de...
6h ago
Fed's Jefferson: too early to tell if slowdown in inflation 'long lasting'
By Michael S. Derby (Reuters) - The recent ebbing in some key price increase indicators is encouraging but it is too soon to know whether inflation is back on a sustainable path back to 2%, Fed Vice Chair Jefferson said on Monday. "It is too early ...
6h ago
BMW imported 8,000 vehicles into US with parts from banned Chinese supplier -- Senate report
WASHINGTON (Reuters) - German automaker BMW imported 8,000 Mini Cooper vehicles into the United States with components from a banned Chinese supplier, a U.S. Senate report released Monday said. Congress in 2021 passed legislation to strengthen enfo...
7h ago
New supply chain pressure metric shows improvement has stalled, says NY Fed
(Reuters) - A new set of supply availability indexes show that improvement in firms' access to inputs hit a wall over the past couple of months, the Federal Reserve Bank of New York said on Monday. "These indexes indicate that supply availability h...
7h ago
Copper's record run at risk as US shipments calm speculator frenzy
By Eric Onstad and Julian Luk LONDON (Reuters) - Copper's lightning rally to record highs may not be sustainable in the coming weeks, with action concentrated on the shipment of material to cover exposed short positions in the U.S. Comex futures ma...
7h ago
Analysis-Global oil markets weaken as sluggish demand leaves overhang
By Robert Harvey and Natalie Grover LONDON (Reuters) - Global physical crude oil markets are weakening because of soft refinery demand and ample supply, traders and analysts told Reuters, in a move that could spell further weakness for benchmark c...
7h ago
CalPERS to vote against Exxon board members
(Reuters) - CalPERS, the biggest public pension plan in the United States, will vote against all Exxon Mobil board members at the upcoming annual meeting on May 29, a regulatory filing showed on Monday. (Reporting by Mrinalika Roy in Bengaluru; Ed...
7h ago
Factbox-Main facts about the copper market as prices hit record highs
LONDON (Reuters) - Copper surged to record highs on Monday as a recent rally triggered by short covering created momentum for speculators and funds to bet on higher prices of the metal. Below are the main facts about the copper market, sourced from...
8h ago
Regional lender SouthState to buy Independent Bank for about $2 billion
(Reuters) - Regional lender SouthState Corp will buy peer Independent Bank in an all-stock deal valued at about $2 billion, the companies said on Monday. As part of the deal, Independent Bank shareholders will receive 0.60 shares of SouthState comm...
8h ago
Futures inch up with Fed minutes, Nvidia results on tap for the week
(Reuters) - U.S. stock index futures edged higher on Monday, with Nvidia's quarterly results and the Federal Reserve's policy meeting minutes due this week likely to test Wall Street's record-breaking run. All the three major indexes marked their f...
9h ago
Shah Capital ends campaign against Novavax board after Sanofi deal
(Reuters) - Hedge fund Shah Capital said on Monday it would withdraw its campaign against the re-election of three directors on Novavax's board, after the COVID-19 vaccine maker struck a licensing deal with Sanofi. Under a deal signed on May 10, th...
9h ago
Argentina soy farmers wait on rising prices to sell rain-drenched crop
By Maximilian Heath PERGAMINO, Argentina (Reuters) - In the fields of Pergamino in Argentina's grain heartland, farmer Adrian Farroni is revving up his soybean harvest late, delayed by rains that along with low prices have led to the country's slow...
10h ago
Saudia Group agrees largest ever Saudi jet deal with Airbus
By Pesha Magid RIYADH (Reuters) -Saudia Group, owner of the Saudia airline and budget carrier flyadeal, on Monday announced an order for 105 Airbus narrow-body aircraft in what the company's director general described as the largest ever order from a S...
10h ago
JPMorgan raises 2024 interest income forecast to $91 billion
NEW YORK (Reuters) -JPMorgan Chase on Monday raised its forecast for net interest income (NII), or the difference between what it makes on loans and pays out on deposits, to $91 billion, excluding markets. JPMorgan's forecasts for NII have disappointed...
10h ago
Morning bid: Buoyant start to 'Nvidia week'
A look at the day ahead in U.S. and global markets from Mike Dolan World markets, heady on hopes for renewed U.S. disinflation and another attempt by China at shoring up its ailing housing sector, entered the new week on the front foot as attention swi...
10h ago
IMF says UAE overall real GDP projected to grow 4% in 2024
DUBAI (Reuters) - The International Monetary Fund (IMF) said on Monday the United Arab Emirates was experiencing strong economic growth, with overall real GDP projected to grow by about 4% this year, higher than earlier estimates. The IMF had proje...
10h ago
Deutsche Bank lifts S&P 500 year-end target to Street-high of 5,500
(Reuters) - Deutsche Bank has raised its 2024 year-end S&P 500 target to 5,500, the highest among major brokerages, banking on strong corporate earnings to support equity valuations. The brokerage previously expected the index to finish 2024 at 5,1...
10h ago
Microsoft to unveil AI devices and features ahead of developer conference
By Max A. Cherney SEATTLE (Reuters) - Microsoft plans to announce several pieces of hardware and software related to consumer devices on Monday at an event at its Redmond, Washington, campus. The Windows maker is expected to reveal a new version of...
10h ago
U.S. regulator closes preliminary review of Tesla's Model X over seat belt issues
(Reuters) - The U.S. auto safety regulator closed the preliminary evaluation of certain Model X vehicles over seat belt issues, the National Highway Traffic Safety Administration said on Monday. (Reporting by Arsheeya Bajwa in Bengaluru; Editing b...
11h ago
Audi, partner SAIC to develop China-specific EV platform
BEIJING (Reuters) - Volkswagen's premium brand Audi said on Monday it would jointly develop a new China-specific platform for intelligent and electric vehicles with its Chinese joint venture partner SAIC. The move, coming about 10 months after VW's...
11h ago
Slump in China's home prices, sales set to worsen this year: Reuters poll
By Liangping Gao and Ryan Woo BEIJING (Reuters) - China's home prices will fall at a faster pace this year with worsening slumps in property investment and sales, a Reuters poll showed, a sombre reminder to policymakers as they redouble efforts to ...
11h ago
Red Lobster seeks bankruptcy protection with $100 million in financing commitments
(Reuters) - U.S.-based restaurant chain Red Lobster has filed for Chapter 11 bankruptcy protection in a Florida court after securing $100 million in financing commitments from its existing lenders, the company said on Sunday. The company listed its...
12h ago
Wall Street bets on stellar quarterly results from Nvidia
By Arsheeya Bajwa (Reuters) - Wall Street is betting on a blowout quarterly report from Nvidia on Wednesday, with its stock near record highs as investors look for evidence that the AI chipmaker can maintain its explosive growth and stay ahead of ...
12h ago