Bloomberg Business

Stocks fluctuated, with traders expecting the Federal Reserve to signal a pause in its aggressive hiking cycle after a potential rate hike in May.

Oil fell for a third day, dropping below $69 a barrel in New York, as the prospect of a US recession threatened to curb fuel demand.

The Treasury kept its sales of longer-term debt steady for the third straight time, in line with dealers’ forecasts, while unexpectedly announcing a new program to buy back older securities, starting sometime in 2024.

Soon after UniCredit SpA Chief Executive Officer Andrea Orcel took the helm of Italy’s second-largest bank two years ago, it was clear he would begin trimming a workforce he saw as getting in the way of better profitability.

Argentina’s international reserves have tumbled to their lowest since 2016 as the central bank drains its coffers to defend the increasingly beleaguered peso. The currency tumbled 13% in parallel markets last month to a record low as a historic drought sapped key crop exports, fueling a dollar shortage at the same time that inflation accelerates past 100%. As the crisis deepens, Argentina and the International Monetary Fund are discussing the possibility of bringing forward payments from the mul

During the pandemic, Wall Street banks and private equity firms invested billions of dollars in startups rolling up popular brands sold on Amazon.com Inc. The bet was that these upstarts, fueled by an online sales boom, would become the next consumer product conglomerates — like Procter & Gamble or Unilever.

European Central Bank Governing Council member Ignazio Visco warned that everyone needs to play their part in avoiding second-round inflation effects.

The US service sector expanded only modestly in April, restrained by the weakest pace of business activity in nearly three years.

Siemens Energy AG is exploring a sale of a high-voltage components unit as the German gas turbine and grid technology maker focuses on core businesses, people with knowledge of the matter said.

South Africa’s environment ministry dismissed a complaint by a nonprofit against Karpowership’s plan to moor a ship-mounted power plant off the nation’s west coast, a rare win for the Turkish company.