Mid-Atlantic factory activity at 2-year low, Philadelphia Fed says
(Reuters) – Factory output growth in the U.S. Mid-Atlantic region decelerated far more than expected in May, and the business outlook for the next six months is the weakest in more than 13 years, a regional Federal Reserve bank survey showed Thursday.
GFG Alliance says Belgian court overturns ruling on steel plant
LONDON (Reuters) – A Belgian court on Thursday ruled in favour of the GFG Alliance owned by commodities tycoon Sanjeev Gupta regarding its Liege steel operations, GFG said in a statement.
Harley-Davidson to suspend most vehicle assembly, shipments for two weeks
(Reuters) -Harley-Davidson Inc said on Thursday the bike maker will suspend all vehicle assembly and shipments, excluding those from its electric vehicle division LiveWire, for a two-week period.
Cisco falls on dismal outlook as supply shortage bites
(Reuters) – Cisco Systems Inc shares were down 10% premarket on Thursday after the company warned of persisting shortages in components, triggering price target cuts from at least nine brokerages as Wall Street braces for further impact on technology exports due to Chinas COVID restrictions.
Canada‘s Globalive ties up with Telus for Shaw’s wireless business
(Reuters) – Canadian investment firm Globalive Capital Inc said on Thursday it has partnered with telecoms company Telus Corp to bid for Shaw Communications Incs wireless business, Freedom Mobile.
Russian government to help new McDonalds owner in Russia to set up – TASS
(Reuters) – Russia‘s government will provide the new owners of the Russian business of McDonald’s with all the assistance they need to set up, the TASS news agency quoted Industry and Trade Minister Denis Manturov as saying on Thursday.
Feds George: Policy “not aimed” at equity markets, though it will be felt there – CNBC
WASHINGTON (Reuters) – The Federal Reserve is not targeting equity markets in its battle against inflation but that is “one of the avenues” where the impact of tighter monetary policy will be felt, Kansas City Fed president Esther George said Thursday in comments to CNBC.
China in talks with Russia to buy oil for strategic reserves – Bloomberg News
(Reuters) – China is in talks with Russia to buy additional supplies of oil in order to add to its strategic crude inventories, according to a Bloomberg News report on Thursday.
U.S. power and natgas prices soar as spring heatwave blankets country
(Reuters) – U.S. spot power and natural gas prices soared on Thursday to their highest in over a year in several parts of the country as consumers cranked up air conditioners to escape an early spring heatwave.
Thailand has no need to follow Feds tightening -central bank chief
By Kitiphong Thaichareon and Orathai Sriring
IMFs Georgieva says finance leaders need to anticipate multiple inflation shocks
WASHINGTON (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva said on Thursday that global finance leaders may need to become more comfortable with fighting multiple bouts of inflationary pressures.
U.S. weekly jobless claims rise; continuing claims lowest since 1969
WASHINGTON (Reuters) – New claims for U.S. unemployment benefits unexpectedly rose last week, but the labor market remains tight amid worker shortages, with the number of Americans on jobless rolls at its lowest since 1969 in early May.
ECB must be gradual and cautious in unwinding support: de Guindos
FRANKFURT (Reuters) – Inflation pressures in the euro zone will remain high in the near term but the European Central Bank must unwind stimulus cautiously and gradually given the presence of exceptional uncertainties, ECB Vice President Luis de Guindos said on Thursday.
U.S. unlikely to extend Russian debt payment licence, Treasury's Yellen says
But Moscow now faces a May 25 deadline when the U.S. licence allowing it to make payments to U.S. bondholders is due to expire.
Slovak refiner Slovnaft to start two-month outages on Friday
(Reuters) – Slovak refinery Slovnaft, part of Hungarian oil and gas group MOL, will launch a planned outage for maintenance and upgrades on Friday, with a record number of 21 production units in two blocks being affected, the company said on Thursday.
Euronav says shareholder CMB fails to get directors onto board
(Reuters) – Euronav said on Thursday that its shareholders had rejected Compagnie Maritime Belges (CMB) proposal to nominate three supervisory board members at its annual general meeting.
Ukraine to seek damages from Russia over huge environmental damage
By Natalia Zinets KYIV (Reuters) – Russia‘s invasion of Ukraine has caused huge environmental damage for which Kyiv will seek compensation in international courts, Ukraine’s environment minister said on Thursday.
Field workers with UKs Cadent gas network firm to strike, says union
(Reuters) – Britains GMB union said on Thursday about 2,000 of its members who are field workers with gas network operator Cadent will stage a 48-hour strike on May 30-31 in a dispute about pay and conditions.
S.African wealth manager Investecs annual profit nearly doubles
JOHANNESBURG (Reuters) – South African lender and asset manager Investecs full year profit soared by almost 91% thanks to strong loan growth, client acquisitions and increasing funds under management, it said on Thursday.
Exclusive-Major Credit Suisse shareholder calls for new CEO
By Oliver Hirt and Brenna Hughes Neghaiwi