Loews reports higher profit on strong returns on investment income
(Reuters) - Loews Corp on Monday reported a near 22% jump in first-quarter profit compared with the previous year, helped by higher premiums and strong returns on its investments. The company earns most of its revenue from its insurance unit CNA in...
2h ago
Denny's faces proxy vote over pig gestation crate pledge
By Waylon Cunningham (Reuters) - An upcoming shareholder vote at Denny's Corp could pressure the company to set targets for reducing its use of pork from suppliers that keep pregnant pigs in tight confinement, called gestation crates. The Humane So...
3h ago
Warren Buffett's fans plot their own course for when he leaves
By Jonathan Stempel and Koh Gui Qing OMAHA, Nebraska (Reuters) - Warren Buffett, the 93-year-old billionaire chief of Berkshire Hathaway, mulled his future in telling shareholders on Saturday that if he were lucky, he would have another six or seve...
3h ago
Explainer-What is at stake for sovereign debt bill as New York legislature reconvenes
By Rodrigo Campos NEW YORK (Reuters) - New York State lawmakers return from a two-week break on Monday with a month left to decide the fate of a controversial bill that aims to streamline sovereign debt restructurings, with hundreds of billions of ...
4h ago
Morning Bid: Relief (mostly) everywhere
A look at the day ahead in U.S. and global markets from Dhara Ranasinghe. The relief across world markets as signs of a softening in the U.S. jobs markets strengthens the case for Federal Reserve rate cuts to start later this year remains palpable. Not...
4h ago
French carmakers target fourfold jump in EV sales by 2027
PARIS (Reuters) - France's car industry will aim to ramp up electric car sales fourfold by 2027 under a strategy agreement to be signed with the government on Monday, just as the president of China embarks on a state visit in the country. French Pr...
4h ago
China May Day holiday spending delivers mixed picture on post-COVID recovery
BEIJING (Reuters) - Domestic travellers spent 166.9 billion yuan ($23.13 billion) during one of China's longest breaks, the May Day holiday, for a rise of 13.5% from pre-pandemic levels, government data showed on Monday, but expenditure per head la...
5h ago
China home sales slump 47% over May Day holiday vs 2023
BEIJING (Reuters) - China's average daily home sales during the major May Day public holiday sank 47% from a year earlier, and were down around 30% from pre-pandemic levels in 2019 for the same holiday period, according to a private survey on Monda...
5h ago
KKR to buy India's Healthium Medtech at $839 million valuation, sources say
MUMBAI/BENGALURU (Reuters) - Global investment firm KKR will buy Indian medical devices maker Healthium Medtech from UK-based Apax Partners in a deal that three sources with direct knowledge of the matter say is valued at 70 billion rupees ($838.60...
5h ago
Sabadell's board meets to analyse BBVA bid proposal, newspapers say
MADRID (Reuters) - Spanish bank Sabadell's board will meet on Monday to discuss an all-share offer from bigger rival BBVA that was worth around 12 billion euros ($12.9 billion) when it was announced last week, newspapers including La Vanguardia sai...
5h ago
European shares rise on energy boost, rate-cut hopes
(Reuters) - European shares climbed on Monday, with investor optimism over interest rate cuts globally back to the fore, while Spanish defence and technology firm Indra jumped following a strong first-quarter profit. The pan-European STOXX 600 was ...
6h ago
Volvo Cars April sales rise 27% year-on-year
COPENHAGEN (Reuters) - Volvo Cars' sales rose 27% in April from a year earlier to 65,838 cars, the Sweden-based group said in a statement on Monday. (Reporting by Louise Breusch Rasmussen, editing by Stine Jacobsen)
6h ago
Red Sea disruption cuts Q2 capacity by 15%-20%, Maersk says
COPENHAGEN (Reuters) - The disruption to container shipping traffic in the Red Sea is worsening, and is expected to reduce the industry's capacity between the Far East and Europe by some 15%-20% in the second quarter, shipping group Maersk said on ...
6h ago
Russia's services sector grows at slowest rate in 15 months, PMI shows
(Reuters) - Activity across Russia's services sector in April grew at its slowest rate in 15 months, a business survey showed on Monday, as the increase in new orders lost pace amid slackening demand. The S&P Global Purchasing Managers' Index (PMI)...
7h ago
Oil nudges higher after Saudi Arabia hikes prices
By Florence Tan SINGAPORE (Reuters) - Oil futures edged up on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas conflict could still widen ...
8h ago
Ailing French IT firm Atos says it received four restructuring offers
PARIS (Reuters) -Debt-laden French IT company Atos on Monday confirmed it had received four distinct offers from investors to restructure its debt and inject cash into the business, adding it would decide which one to pursue by the end of the month. Th...
8h ago
Canada's WestJet reaches tentative deal with union to avoid work stoppage
(Reuters) - Canadian airline WestJet Group has reached a tentative agreement with the union representing its maintenance engineers to avert work stoppage, the two parties said in a joint statement on Monday. (Reporting by Dagmarah Mackos; Editing ...
8h ago
Indonesia's Q1 GDP growth beats forecasts, at highest in 3 qtrs
JAKARTA (Reuters) - Indonesia's economy grew by 5.11% in the first quarter from a year earlier, the highest in three quarters and faster than expected, data from the statistics bureau showed on Monday. Economists polled by Reuters had expected Indo...
9h ago
Morning Bid: Back on the rate cut track
A look at the day ahead in European and global markets from Rae Wee European markets will be waking up to a fairly quiet session with London closed for a holiday and little on the economic calendar to stand in the way of the latest rate-cut rally. Inve...
9h ago
RBNZ must keep policy restrictive until inflation falls within target, OECD says
SYDNEY (Reuters) - The Organisation for Economic Co-operation and Development (OECD) said on Monday that New Zealand's monetary policy must remain restrictive until inflation is brought within the central bank's target range, and urged the governme...
9h ago
South Korea finds illegal stock short sales by seven more banks
SEOUL (Reuters) - South Korea's market watchdog said on Monday it had found breaches of short-selling rules by seven more banks in the domestic stock market as part of a full-scale investigation into trading practices at foreign investment banks. L...
10h ago
Asia shares rally on Fed cut bets; yen pares gains
By Rae Wee SINGAPORE (Reuters) - Asian stocks rose on Monday on renewed bets that the Federal Reserve would likely ease rates this year, while the yen weakened after a strong surge last week from Tokyo's suspected currency intervention. Trading was...
11h ago
Gasoline demand growth to slow this year on EV growth in China, U.S.
By Mohi Narayan NEW DELHI (Reuters) - Global petrol demand growth could halve in 2024, squeezing second-half refinery margins, analysts said, driven by a shift to electric cars in China and the United States and a return to normal consumption after...
12h ago
Dollar steady after soft US jobs report; yen starts week on back foot
By Ankur Banerjee SINGAPORE (Reuters) - The dollar was broadly steady on Monday as a soft U.S. jobs report boosted wagers that the Federal Reserve may still cut rates twice this year, while the yen was a tad weaker to start the week. The yen had cl...
12h ago
Qantas Airways faces $66 million court penalty for flight cancellations
(Reuters) -Australian flagship airline Qantas Airways said on Monday it reached a settlement agreement with the country's competition regulator under which it may be obliged to pay A$100 million ($66 million) civil penalty in a flight cancellation case...
15h ago