European shares rebound as banking jitters ebb on SVB deal

Reuters | March 27, 2023

By Sruthi Shankar and Bansari Mayur Kamdar (Reuters) -European stocks climbed on Monday, as a sense of calm returned to markets following a week of turbulence over concerns about banking sector stability after the collapse of Credit Suisse and two U.S. mid-sized lenders. The pan-European STOXX 600 index rose 1.1%, with investors drawing comfort from […]

Oil up 2% as dollar weakens on small US Fed rate hike

Reuters | March 22, 2023

By Scott DiSavino NEW YORK (Reuters) -Oil prices rose about 2% to a one-week high on Wednesday as the dollar slid to a six-week low after the U.S. Federal Reserve delivered an expected small rate hike while hinting that it was on the verge of pausing future increases. Brent crude futures rose $1.37, or 1.8%, […]

Oil prices rebound after hitting lowest since 2021 on banking fears

Reuters | March 20, 2023

By Stephanie Kelly NEW YORK (Reuters) -Oil prices rebounded and rose over 1% on Monday after diving to their lowest levels in 15 months as the market worried that risks in the global banking sector could spark a recession that would sap fuel demand. In volatile trade, Brent crude futures for May rose 82 cents, […]

Bitcoin jumps to highest since June as rally gathers pace

Reuters | March 14, 2023

By Elizabeth Howcroft and Tom Wilson LONDON (Reuters) -Bitcoin hit a nine-month high on Tuesday, taking gains past 30% in four days as it shrugged off chaos in global markets after last week’s collapse of Silicon Valley Bank and rode expectations that U.S. interest rates won’t rise so fast. Bitcoin jumped as much as 9.6% […]

Oil prices fall 2% in choppy trade as banking fears rattle markets

Reuters | March 13, 2023

By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell over 2% in volatile trading on Monday as the collapse of Silicon Valley Bank roiled equities markets and raised fears of a fresh financial crisis, but a recovery in Chinese demand provided support. Brent crude futures settled down $2.01, or 2.4%, to $80.77. The global benchmark […]

JPMorgan says it is not liable for top banker’s ties to Jeffrey Epstein

Reuters | February 23, 2023

By Jonathan Stempel NEW YORK (Reuters) – JPMorgan Chase & Co on Wednesday said it should not be held liable for a former top executive’s relationship with Jeffrey Epstein in a lawsuit accusing the largest U.S. bank of facilitating its former client’s sex trafficking enterprise. In a filing in Manhattan federal court, JPMorgan said emails […]

Bayer under investor pressure to speed up CEO changeover

Reuters | January 31, 2023

By Patricia Weiss and Ludwig Burger FRANKFURT (Reuters) – A top-10 shareholder in Bayer on Tuesday called on the group’s supervisory board to replace chief executive Werner Baumann quickly, adding to investor pressure to restore trust and revive the German drugmaker’s sagging share price. Despite recent improvements in the company’s agriculture business and drug development […]

Oil falls $2/barrel on economic jitters, U.S. crude stock build

Reuters | January 24, 2023

By Arathy Somasekhar HOUSTON (Reuters) – Crude oil prices slipped on Tuesday on concerns about a global economic slowdown and as preliminary data indicated a bigger than expected build in U.S. oil inventories. Brent futures for March delivery fell $2.06, or 2.3%, to $86.13 a barrel. U.S. crude fell $1.49, or 1.8%, to $80.13 per […]

Davos 2023: Convert offices to homes to curb housing crisis-panel

Reuters | January 18, 2023

LONDON (Reuters) – Empty offices globally should be converted to apartments to address a growing housing crisis in many countries, property executives told the World Economic Forum in Davos on Wednesday. Commercial real estate values are sliding as an economic downturn reduces demand for space among cost-conscious companies, whose employees have been spending fewer days […]

Tesco boss says inflation may not have peaked ‘just yet’

Reuters | January 12, 2023

LONDON (Reuters) -The chief executive of British retailer Tesco, Ken Murphy, said on Thursday that inflation may have not peaked “just yet,” adding that he hoped it would come down by the middle of this year. “We’re not sure it’s peaked just yet,” Murphy said in response to a question on inflation. “We would hope […]

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