Manulife, Sun Life see 1st-qtr earnings decline; Asia COVID challenges weigh
By Nichola Saminather (Reuters) – Canadas biggest life insurers, Manulife Financial and Sun Life Financial on Wednesday reported core earnings fell from a year ago as the COVID-19 pandemic took a toll on their Asian earnings, with Manulife also missing estimates.
Musks delay in disclosing Twitter stake triggers SEC probe -WSJ
(Reuters) – The U.S Securities and Exchange Commission (SEC) is investigating Elon Musks delayed disclosure of his sizable stake in Twitter Inc last month, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
Lordstown Motors closes deal to sell assets to Foxconn, shares surge
(Reuters) – Lordstown Motors Corp said it has completed a deal to sell certain assets to Taiwanese contract manufacturer Foxconn, clinching funds essential for the production of its Endurance electric pickup truck.
Bullard: April inflation ‘hot’ but does not see 75 bp Fed rate increase ‘for now’
(Reuters) – U.S. April inflation at 8.3% remained “hot” but does not yet require the Federal Reserve to switch to three-quarter point rate increases, St. Louis Fed President James Bullard said on Wednesday.
Bumble beats quarterly revenue estimates
(Reuters) – Bumble Inc beat market estimates for first-quarter revenue on Wednesday, helped by a rising number of paying members crowding its dating apps to seek connection, sending its shares up 14% after market.
Rivian Automotive reiterates annual production outlook, shares jump
(Reuters) – Rivian Automotive Inc on Wednesday reaffirmed its annual production forecast of 25,000 units as the electric-vehicle maker continues to battle supply chain disruptions and high material costs.
Beyond Meat misses quarterly sales estimates
(Reuters) – Beyond Meat Inc missed estimates for quarterly revenue on Wednesday, as the plant-based protein maker wrestled with increased competition in the United States.
Disney streaming subscriptions top Wall Street targets
(Reuters) -Walt Disney Cos streaming video subscriptions topped Wall Street targets, sending its shares up 3% in extended trade.
UK to provide more support to help households on energy bills, FT reports
LONDON (Reuters) – Britains government is preparing to announce a new support package to help shield households from a further jump in energy bills later this year, the Financial Times reported on Wednesday.
Dallas Fed taps U.S. central bank markets expert Logan as new chief
(Reuters) – The Dallas Federal Reserve on Wednesday named Lorie Logan as its next president, filling the vacancy left by Robert Kaplans resignation last fall after an outcry over the ethics of his active stocks trading during the coronavirus pandemic.
U.S. Treasury posts record budget surplus in April as revenues soar
By David Lawder (Reuters) – The U.S. government posted a $308 billion surplus in April — a record for any month — as receipts nearly doubled from a year earlier amid a strong economic recovery from the COVID-19 pandemic, the Treasury Department said on Wednesday.
Russia‘s economy to start stabilising in ’new equilibrium near year-end -central bank
(Reuters) – Russias economy will begin stabilising in its “new equilibrium” closer to the end of this year after beginning to go through a structural transformation in the second and third quarters, the central bank said in a report on Wednesday.
Feds Bostic: Rising market yields show Fed retains credibility
JACKSONVILLE, Fla. (Reuters) – Risings interest rates on home mortgages, U.S. Treasury bonds and other key forms of credit show the Federal Reserve remains credible in its pledge to tame inflation, Atlanta Fed President Raphael Bostic said on Wednesday.
Tumble in Coinbase pushes Woods ARK fund closer to pandemic low
By David Randall NEW YORK (Reuters) – A collapse in cryptocurrency company Coinbase Global Inc pushed star stock picker Cathie Woods ARK Innovation ETF down nearly 8% on Wednesday, putting it within 10% of its low touched in March 2020 at the start of the
Fed's Williams: 50 bps interest rate hikes at next two meetings "makes sense"
I do think as a base case of thinking, 50 basis point increases makes sense exactly as Chair Powell laid out.
Critical EUR/USD Event Risks | tastytrade clips
Chris and Victor debate if USD will end its bull run, and Chris lays out critical factors for traders who are long USD in EUR/USD trades.
Lotos says it is not processing oil for Germanys Leuna
WARSAW (Reuters) – Poland‘s Grupa Lotos said on Tuesday it is not processing oil for TotalEnergies’ Leuna refinery in Germany, referring to a statement by the Polish climate minister that this was the case as a “slip of the tongue”.
CPI, PPI: Markets look for signs of U.S. inflation peak
By Stephen Culp NEW YORK (Reuters) – In the wake of the 50-basis-point interest rate hike by an increasingly hawkish Federal Reserve, markets have gyrated wildly ahead of this weeks U.S. economic data, which will be closely parsed for signs that inflation is peaking.
EBRD says it will spend 1 billion euros in Ukraine this year
MARRAKESH, Morocco (Reuters) – The European Bank for Reconstruction and Development (EBRD) will spend 1 billion euros in Ukraine in 2022, the banks president Odile Renaud-Basso said on Tuesday.
French bourse regulator fines Dutch traders for price manipulation
PARIS (Reuters) – French stock market regulator AMF has fined three Dutch equities traders and a Dutch company between 80,000 and 400,000 euros ($422,000) each for manipulating prices through a technique known as “layering.”
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