Article content Shares of U.S. regional lenders gained on Monday led by a rebound in PacWest Bancorp, as investors tried to look past the crisis of confidence brought on by the collapse of three banks in a span of two months. PacWest rose 8.4%, while Western Alliance Bancorp, Fifth Third Bancorp, Comerica Inc and KeyCorp […]
Article content BUENOS AIRES — Argentina’s government announced a package of measures to rein in soaring inflation and support the wobbly peso currency on Sunday, including rate adjustments, more interventions in the exchange market and expedited deals with creditors. The measures include an interest rate hike from the country’s central bank, the economy ministry said […]
Breadcrumb Trail Links PMN Technology PMN Business Author of the article: Reuters Lewis Krauskopf Published May 14, 2023 • 3 minute read Join the conversation Article content NEW YORK — A U.S. stocks rally is leaving behind smaller companies, a sign that investors may be bracing for economic turmoil ahead. The small-cap Russell 2000 is […]
Breadcrumb Trail Links PMN Business Author of the article: Reuters Fergal Smith Published May 14, 2023 • 2 minute read Join the conversation Article content TORONTO — Signs of recovery in Canada’s housing market after a year-long slump, just as higher borrowing costs are expected to slow much of the rest of the economy, could […]
Article content BOGOTA — Colombia’s flagship airline Avianca is backing down from a merger with Viva Air, blaming conditions set by the country’s aviation regulator, the company announced Saturday. In a statement, Avianca said conditions set by the regulator “would not allow Viva to be a financially and operationally viable airline,” and also put Avianca’s […]
Article content SAO PAULO — Shares in Brazilian food giant JBS SA fell more than 10% in early trade on Friday after the company posted a wider-than-expected first quarter loss, marking the first time the firm has faced difficulties in all countries where it operates. In a conference call with analysts, Global CEO Gilberto Tomazoni […]
Breadcrumb Trail Links PMN Business Author of the article: Reuters Shreyashi Sanyal and Shristi Achar A Published May 12, 2023 • 2 minute read Join the conversation Article content Wall Street’s main indexes struggled to gain on Friday as U.S. consumer sentiment slumped to a six-month low, indicating the rapid interest rate hikes were starting […]
Article content LONDON — Bank of England Chief Economist Huw Pill said on Friday that the British central bank might have to do more to bring down inflation, a day after the BoE raised interest rates for a 12th meeting in a row. Pill said there was evidence of “a more favorable pattern in terms […]
Article content An extended period of high interest rates and an inverted yield curve could put more stress on banks, but would be necessary if inflation stays stubbornly high, Minneapolis Federal Reserve President Neel Kashkari said on Thursday. There is some evidence high inflation “is coming down, but so far it’s been pretty darn persistent […]
Breadcrumb Trail Links PMN Business Author of the article: Reuters Naomi Rovnick Published May 11, 2023 • 3 minute read Join the conversation Article content LONDON — It’s the best performing currency this year in the G10 group of advanced economies against the dollar. But sterling’s strengthening streak is about to be put to the […]