By Karen Brettell NEW YORK (Reuters) – The dollar index bounced off a one-year low against a basket of currencies on Friday after some March retail sales components were not as weak as some economists had feared, while a key Federal Reserve official warned that the U.S. central bank needs to continue hiking interest rates …
Dollar bounces off one-year low, weak retail sales not as bad as feared Read More »
By Laila Kearney NEW YORK (Reuters) -Oil prices were up on Friday and secured a fourth straight week of gains after the West’s energy watchdog said global demand will hit a record high this year on the back of a recovery in Chinese consumption. The International Energy Agency (IEA) also warned that deep output cuts …
Oil rises, logs weekly gains after IEA predicts record demand Read More »
By David Milliken LONDON (Reuters) -The Bank of England said on Friday it would rely on a key U.S. regulator’s assessment of U.S.-based central counterparties (CCPs) which clear financial trades in Britain, in order to reduce duplication of work by supervisors. The BoE signed an agreement with the U.S. Commodities and Futures Trading Commission (CFTC) …
Britain recognises CFTC oversight of US clearing houses in UK Read More »
By Niket Nishant and Nupur Anand (Reuters) -JPMorgan Chase & Co beat Wall Street’s estimates for quarterly profit and raised its outlook for interest income on Friday, emerging as one of the biggest winners of a flight to safety during last month’s banking crisis. The largest U.S. lender gained $50 billion in deposits at the …
JPMorgan surpasses Wall St forecasts, winning business as crisis roils industry Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices pulled back sharply on Friday after surging to a more than one-year peak in the last session, as the dollar bounced and a Federal Reserve official flagged the need for another interest rate hike. Spot gold was down 1.8% at $2,003.60 per ounce by 01:52 EDT (17:51 GMT). …
Gold beats sharp retreat as dollar bounces, rate hike bets grow Read More »
By Jaiveer Shekhawat and Davide Barbuscia (Reuters) – BlackRock Inc expects dislocations created by a recent banking rout to present “enormous” opportunities to expand its business, as investors shift allocations to avoid abrupt market gyrations and profit from a higher interest rate environment. The world’s largest asset manager reported an 18% drop in first-quarter profit …
BlackRock eyes banking rout as chance for growth as inflows rise Read More »
By Tatiana Bautzer and Mehnaz Yasmin (Reuters) – Citigroup Inc’s first-quarter profit beat Wall Street expectations as it earned more from borrowers paying higher interest on loans. While its net interest income rose 23% to $13.3 billion, Citi also set aside $241 million to cover potential loan losses, from $138 million a year earlier, according …
Citigroup beats estimates on higher income from loans; shares rise Read More »
LONDON (Reuters) -A 23-year-old man was found guilty of threatening behaviour on Friday after throwing at least five eggs at King Charles in November when the monarch visited York in northern England, prosecutors said. The Crown Prosecution Service (CPS) said Patrick Thelwell was sentenced to a 12-month community order with “100 hours of unpaid work” …
Man found guilty of threatening behaviour after eggs thrown at King Charles Read More »
LONDON (Reuters) -Ambulance staff and others health workers represented by the Unison union in England have voted to accept a 5% wage increase proposed by the government to end strike action, the union said on Friday, saying it was was the best pay deal available. Almost three quarters of health service workers in England voted …
Ambulance staff in England vote for pay deal -union Read More »
By Noor Zainab Hussain, Manya Saini and Saeed Azhar (Reuters) -Wells Fargo & Co’s profit surpassed expectations for the first quarter on Friday as it earned more from higher interest rates, even while executives forecast tighter monetary policy would dampen economic activity. The bank also reported a $643 million increase in the allowance for credit …
Wells Fargo profit exceeds estimates as rising rates bolster income Read More »
