Used-car retailer Carvana sees significant core earnings for 2023
(Reuters) – Carvana Co on Friday forecast significant core earnings for 2023, as the online used-car retailer spelled out plans to rein in spending on advertising, expansion and other areas to offset waning demand.
Sachem Head, Soros liquidated positions in Peloton in first quarter-filings
By Svea Herbst-Bayliss BOSTON (Reuters) – Investment firms Sachem Head Capital Management and Soros Fund Management exited their positions in Peloton during the first quarter as the stock tumbled and the fitness company replaced its CEO, under pressure from an activist investment firm, regulatory filings made
Goldman Sachs officials reach $79.5 million shareholder settlement over 1MDB scandal
By Jonathan Stempel NEW YORK (Reuters) – Goldman Sachs Group Inc officers and directors reached a $79.5 million settlement to resolve shareholder claims that their poor oversight contributed to the bank being enmeshed in the looting scandal at Malaysias 1MDB sovereign wealth fund.
Airlines press U.S. to lift pre-departure testing requirements
By David Shepardson WASHINGTON (Reuters) – U.S. airlines are pressing the Biden administration to lift a 16-month-old rule requiring nearly all international air passengers with some exceptions to test negative for COVID-19 before entering the country.
EU Commission stands by its guidance on payments for Russian gas
BRUSSELS (Reuters) – The European Commission stands by its previous guidance on how EU companies can pay for Russian gas without breaking sanctions on Russia and is in contact with EU governments to provide more explanations if needed, a Commission spokesman said on Friday.
Inflation views tilt the Feds way, a bit
(Reuters) – A week that included a bevy of still-ugly inflation numbers may also have marked a turn in market views of the Federal Reserve, as inflation expectations fell, bond yields moderated, and even consumers stopped ratcheting up their outlook for price increases.
Central African bank regulator reminds states of crypto ban
N‘DJAMENA (Reuters) – Central Africa’s regional banking regulator sent out a reminder on Friday about its ban on the use of cryptocurrencies, weeks after the Central African Republic, a member state, made bitcoin legal tender.
French TV company Banijay posts higher Q1 sales and profits
PARIS (Reuters) – French TV production company Banijay, which is set to list on the stock market, reported on Friday higher first quarter sales and profits compared to a year ago.
Exclusive-Maker of Walmart, Amazon store-brand infant formulas expects shortages through rest of 2022
By Jessica DiNapoli NEW YORK (Reuters) – Perrigo Company PLC, which makes store-brand baby formulas for retailers including Walmart Inc and Amazon.com Inc expects shortages and heightened demand to last for the “balance of the year,” said CEO Murray Kessler in an interview with Reuters.
Colombia Q1 economic growth forecast at 7.5% – Reuters poll
By Nelson Bocanegra BOGOTA (Reuters) – Colombias economy could have grown by 7.5% in the first quarter of 2022 versus the year-earlier period, mainly boosted by domestic consumption, though this will begin to moderate amid inflationary pressures, a Reuters poll revealed on Friday.
Yellen to meet Polish prime minister at start of trip to G7 finance meeting
By David Lawder WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen will meet with Polish Prime Minister Mateusz Morawiecki on Monday to discuss how Russia‘s invasion of Ukraine affects Poland’s economy as part of a week-long trip that also will take her to Brussels and a
Russian inflation jumps to 17.83% in April, highest since early 2002
(Reuters) – Consumer inflation in Russia accelerated in April to 17.83% in year-on-year terms, its highest level since January 2002, data showed on Friday, as it got a boost from the volatile rouble and unprecedented western sanctions that disrupted logistics chains.
Benetton, Blackstone seek green light from Italys govt for Atlantia bid
By Giuseppe Fonte and Francesca Landini ROME (Reuters) – The Benetton family and U.S. fund Blackstone have notified the Italian government about their takeover offer for Atlantia to secure Romes green light before its launch, two sources with knowledge of the matter said on Friday.
U.S. economic outlook weakens, inflation set to persist – Philly Fed survey
(Reuters) – The U.S. economic outlook has weakened and inflation is set to remain higher than previously expected for a while yet, a Federal Reserve Bank of Philadelphia survey of professional economic forecasters showed on Friday.
Senate Confirms Jerome Powell to Second Term as Fed Chair
The U.S. Senate has confirmed Jerome Powell’s nomination to a second term as Fed Chair.
Ukraine asks G7 to seize Russian assets to rebuild country
WEISSENHAUS, Germany (Reuters) – Ukraine asked the G7 group of rich nations on Friday to seize Russian assets and hand them over to help it rebuild after months of war, Foreign Minister Dmytro Kuleba said.
Porsche SE says feasibility of sportscar maker IPO depends on market conditions
BERLIN (Reuters) – Porsche Automobil Holding SE cautioned on Friday that the feasibility of a listing of luxury sportscar maker Porsche AG, planned for the fourth quarter of this year, depended on numerous factors including market conditions.
U.S. bond funds see biggest weekly outflow in four weeks
(Reuters) – U.S. bond funds saw a surge in outflows in the week to May 11 on concerns over higher inflation readings, which cemented expectations of aggressive rate hikes by the Federal Reserve.
Exclusive-Shanghais lockdown delays dollar buying, gives falling yuan reprieve
By Winni Zhou and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – Shanghai‘s COVID-19 lockdown is wreaking havoc on companies’ dividend-payment paperwork and bankers say it is delaying summertime dollar buying as some firms are unable to collect the signatures and company seals needed to process FX contracts.
How Will the Fed Reduce Its Balance Sheet?
With the economy facing an extremely tight labor market and high inflation, the FOMC has raised its policy target interest rate a couple of times