Article content LONDON — The British pound hit its highest level against the dollar in eight weeks on Wednesday as worries about the health of the global financial system continued to ease. The pound rose 0.1% against the dollar to $1.2359, its highest since Feb. 2. The euro rose 0.1% against sterling to 87.91 pence. […]
Article content MUMBAI — Palm oil’s rare premium over rival rapeseed oil and sunflower oil is likely to be short-lived and it should start trading at a discount once top producer Indonesia eases export curbs after Ramadan, industry participants told Reuters. The premium has slowed down palm oil purchases for April shipments by key importers […]
Breadcrumb Trail Links PMN Business Author of the article: Reuters Sruthi Shankar and Francesco Canepa Published Mar 28, 2023 • 2 minute read Join the conversation Article content Immediate investor concerns over the banking sector eased on Tuesday, lifting stock prices, with the European Central Bank’s supervisory chief saying recent sector volatility underscored the need […]
Article content BEIJING — Chinese search engine Baidu on Monday shared pre-recorded videos of its AI-powered chatbot Ernie summarizing financial statements and producing powerpoint presentations, among other industry-focused capabilities. According to images shared by a Baidu spokesperson in a media-facing group on WeChat, China’s most widely used messaging service, the Chinese chatbot has a wider […]
Article content MOSCOW — Russia’s diesel and gasoil shipments to Brazil, Turkey and Africa were heading to new record highs in March as traders pushed into new markets following an EU ban on Russian oil products, according to traders and Refinitiv data. A full EU embargo on Russian oil products went into effect on Feb. […]
Article content FRANKFURT — A top union boss in Germany justified a massive strike planned for Monday as a “matter of survival” for many thousands of people fighting for higher wages as inflation soars, according to an interview published in the Bild am Sonntag newspaper. The strike, Germany’s largest in decades, is expected to cause […]
Article content DUBAI — Standard Chartered plans to sell its Jordanian business to Arab Jordan Investment Bank (AJIB), the two parties said on Sunday, as the emerging markets-focused lender presses ahead with plans to exit seven markets in Africa and the Middle East. The bank entered into an agreement with AJIB, subject to central bank […]
Article content BEIJING — The foundation of China’s economic recovery is not solid enough, a senior Communist Party official said on Saturday, warning of possible spillover effects from global economic problems. Some countries have to play a balancing act as they try to stabilize their economies, prices and financial markets, said Han Wenxiu, deputy head […]
Article content MILAN — Italy’s Treasury is set to hand veteran banker Luigi Lovaglio a new mandate as chief executive of state-owned lender Monte dei Paschi di Siena , two people with knowledge of the matter said. Lovaglio, who built his career at UniCredit where he eventually rose to lead the group’s former Polish unit […]
Article content U.S. stock index futures struggled for direction on Friday as investors remained jittery over the health of the banking sector while they weighed the odds of the Federal Reserve pausing its interest rate hikes soon. Wall Street’s main indexes ended higher in the previous session following Treasury Secretary Janet Yellen’s reassurances that measures […]