Reuters - Squid Business

Russia’s Prigozhin renews appeal for more ammunition to seize city of Bakhmut

(Reuters) – The head of the Wagner private militia on Monday renewed his appeal to Russia’s defence ministry to increase ammunition shipments to his fighters trying to seize the city of Bakhmut in eastern Ukraine. Yevgeny Prigozhin has frequently clashed with Moscow’s defence establishment over the conduct of Russia’s campaign in Ukraine and what he …

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American Airlines pilots vote to authorize strike

(Reuters) – A union representing American Airlines Group Inc pilots said on Monday its members had approved a strike mandate ahead of the busy summer travel season, although the chances of an actual labor disruption remain slim. The Allied Pilots Association (APA), which represents 15,000 American Airlines pilots, held a strike authorization vote in April …

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Three crew missing after tanker catches fire off Malaysia

KUALA LUMPUR (Reuters) – Three crew members of a Gabon-registered tanker were missing after the vessel caught fire on Monday in waters off Malaysia’s southern coast, Malaysian maritime authorities said. The tanker was on its way from China to Singapore with 28 crew members on board, the Malaysian Maritime Enforcement Agency (MMEA) said, adding that …

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Italy approves May Day labour package amid union criticism

By Giuseppe Fonte and Alvise Armellini ROME (Reuters) -Italy’s right-wing government on Monday approved measures to boost job creation and workers’ pay, amid hostile reactions from unions and opposition parties over accompanying welfare cuts and looser rules on short-term job contracts. Prime Minister Giorgia Meloni made it easier for firms to offer job contracts lasting …

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Adani-owned NDTV profit plunges about 98% on weak advertising demand

BENGALURU (Reuters) – Indian broadcaster New Delhi Television Ltd (NDTV), part of the embattled Adani Group, posted a 97.6% plunge in quarterly profit on Monday due to weak advertising demand. The results come as businesses worldwide look to rein in costs such as advertising to ride out an economic downturn caused by persistently high inflation …

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S&P 500, Dow steady on boost from JPMorgan; Fed meet in focus

By Ankika Biswas and Sruthi Shankar (Reuters) – The S&P 500 and the Dow edged higher as JPMorgan shares rose after the lender said it will buy most of First Republic Bank’s assets, while investors refrained from making big bets ahead of the Federal Reserve’s policy decision this week. JPMorgan Chase & Co’s shares rose …

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US government may delay decision on electric vehicles biofuel program

By Stephanie Kelly and Jarrett Renshaw NEW YORK (Reuters) -The U.S. government could delay a decision on giving electric vehicle (EV) manufacturers tradable credits under a renewable fuel scheme, due to concern about legal challenges to the plan, two sources familiar with the matter said. The plan would have given EV automakers such as Tesla …

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Explainer-Why First Republic Bank failed and what JPMorgan’s deal means

By Lawrence Delevingne (Reuters) – The focus of the U.S. regional banking crisis turned on First Republic Bank in late March after the wealthy clients it courted to fuel its breakneck growth began pulling their deposits. With no let-up in pressure on First Republic, the biggest U.S. bank JPMorgan Chase & Co, said on Monday …

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US construction spending rebounds in March on nonresidential structures

WASHINGTON (Reuters) – U.S. construction spending increased more than expected in March, boosted by investment in nonresidential structures, but single-family homebuilding remained depressed amid higher mortgage rates. The Commerce Department said on Monday that construction spending rose 0.3% in March after declining 0.3% in February. Economists polled by Reuters had forecast construction spending gaining 0.1%. …

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First Republic collapse sparks sector-wide regional bank shares sell-off

(Reuters) – Shares of regional lenders fell in morning trading on Monday following the collapse of First Republic Bank, the third major casualty of the biggest crisis to hit the U.S. banking sector since 2008. The KBW Regional Banking Index was down nearly 1%. Among individual movers, Citizens Financial Group, PNC Financial Services Group, Truist …

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