Valero kicks off US refiners’ earnings with Q1 profit beat on robust margins

Reuters | April 27, 2023

By Arunima Kumar (Reuters) -Refiner Valero Energy Corp zoomed past quarterly profit estimates on Thursday, as margins received a boost from sustained fuel demand and tight crude supplies. Refiners have been riding a wave of favorable pricing and demand as pandemic-era closings boosted margins. San Antonio, Texas-based Valero said its refining margins for the January-March […]

Crypto firms scramble for banking partners as willing lenders dwindle

Reuters | April 25, 2023

(This April 19 story has been corrected to fix the name of Banxa U.S. CEO to Richard Mico, not Ricardo Mico, in paragraph 24) By Elizabeth Howcroft and Hannah Lang LONDON (Reuters) – Crypto firms have been left scrambling to find banking partners after the collapse of three crypto-friendly lenders in the U.S. last month, […]

Strikes ground flights at German airports, railway walkouts to follow

Reuters | April 24, 2023

BERLIN (Reuters) -Industrial action grounded dozens of flights at two major German airports on Monday as security workers and ground services employees in the capital, Berlin, and in Hamburg held a one-day strike over pay. Berlin-Brandenburg airport cancelled all departures and said some landings would also be affected after the Verdi union called security workers […]

Credit Suisse saw record fund outflows during March turmoil, data shows

Reuters | April 21, 2023

By Marc Jones LONDON (Reuters) – Credit Suisse saw investors pull a record 4.6 billion euros ($5.04 billion) out of its funds at the height of the bank’s troubles last month, data published on Friday showed. The data from Morningstar covered the whole of March, when a potential collapse of Credit Suisse saw Switzerland’s financial […]

Dollar weakens as soft data backs US recession outlook

Reuters | April 20, 2023

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar fell on Thursday as weak data reinforced expectations the world’s largest economy is likely headed toward recession, further supporting the view that the Federal Reserve could pause in June after another expected rate hike next month. The greenback hit session lows against the yen and […]

US House Speaker McCarthy pitches budget cuts for debt limit vote

Reuters | April 17, 2023

By Richard Cowan and Katharine Jackson WASHINGTON (Reuters) -U.S. House of Representatives Speaker Kevin McCarthy on Monday outlined spending cuts he said his fellow Republicans would demand in exchange for voting to raise the federal government’s $31.4 trillion debt ceiling, avoiding a potentially catastrophic default. His proposals included cutting spending to last year’s levels, capping […]

Buffett: Do not panic about U.S. banks and deposits

Reuters | April 12, 2023

By Jonathan Stempel (Reuters) -Warren Buffett said people should not be panicked about the banking industry or the safety of U.S. bank deposits, despite the recent failures of Silicon Valley Bank and Signature Bank. The billionaire chairman of Berkshire Hathaway Inc said that while more banks “will go bust,” the industry’s recent problems do not […]

Ukraine’s reserves grow to 11-year high on foreign aid – central bank

Reuters | April 6, 2023

KYIV (Reuters) – Ukraine’s international reserves grew to an 11-year high of $31.9 billion at the start of April thanks to foreign aid, lower demand for hard currency and moderately-sized payments on government debt, the central bank said on Thursday. Ukraine faces an unprecedented budget deficit this year due to high military spending to fight […]

US services sector growth slows; price pressures abating

Reuters | April 5, 2023

By Lucia Mutikani WASHINGTON (Reuters) – The U.S. services sector slowed more than expected in March as demand cooled, while a measure of prices paid by services businesses fell to the lowest in nearly three years, giving the Federal Reserve a boost in the fight against inflation. There are also growing signs that the labor […]

Tesla posts record quarterly deliveries after price cuts, up 4% from Q4

Reuters | April 3, 2023

By Akash Sriram and Hyunjoo Jin (Reuters) – Tesla Inc on Sunday posted record quarterly vehicle deliveries, but quarter-on-quarter sales growth was modest despite price cuts as rising competition and a bleak economic outlook weighed. Tesla delivered 422,875 vehicles for the first three months of this year, up 4% from the previous quarter. This was […]

« Previous PageNext Page »