Top Wall Street firms, Ford to disclose directors race and gender
By Ross Kerber (Reuters) – Four top Wall Street firms and Ford Motor Co will start to disclose the race and gender of individual directors under deals reached with New York City pension officials, the citys comptroller, Brad Lander, said on Thursday, while a utility
KPMG faces $18 million misconduct fine for misleading regulator
By Kirstin Ridley LONDON (Reuters) – KPMG faces a 14.4 million pound ($17.6 million) fine after admitting it misled regulators during spot checks on audits of construction group Carillion and software firm Regenersis.
From the Maldives to Venezuela: how Iran gets oil to an ally
By Marianna Parraga HOUSTON (Reuters) – A Venezuela-owned tanker in March sailed to a remote spot in the Indian Ocean and met an Iran-flagged vessel, took on a cargo of Iranian condensate and sailed home, according to monitoring services and shipping documents.
GE CFO sees improvement in company businesses in H2
CHICAGO (Reuters) – General Electric Co on Thursday said it expects an improvement in its businesses in the second half of the year despite persistent inflationary and supply chain pressures.
Spain finds yacht and other assets of 15 sanctioned Russian oligarchs
By Corina Pons MADRID (Reuters) – The Spanish authorities have identified assets, including houses, companies and at least one luxury yacht, belonging to 15 Russian oligarchs on the EU sanctions list, an official overseeing property registries told Reuters on Thursday.
Twitter CEO says two leaders will depart company, hiring paused
By Sheila Dang (Reuters) – Twitter Chief Executive Parag Agrawal announced in an email to employees on Thursday, which was seen by Reuters, that the companys leaders for the consumer division and revenue will depart the social media company.
Musk looks to scrap Tesla margin loan with new Twitter funding – Bloomberg Law
(Reuters) – Elon Musk is in talks to raise enough equity and preferred financing for his proposed buyout of Twitter Inc to negate the need for a $6.25 billion margin loan linked to his Tesla Inc shares, Bloomberg Law reported on Thursday.
EBRD to help Ukraine find an exit for its exports
By Ahmed Eljechtimi MARRAKECH, Morocco (Reuters) – The European Bank for Reconstruction and Development (EBRD) is considering financial support for Ukraines transport and logistics companies to help them maintain their exports, a senior bank official said on Thursday.
Cass Freight Index sees ‘considerable’ U.S. freight recession risk
LOS ANGELES (Reuters) – A closely watched transportation report on Thursday said “the prospect of freight recession is now considerable” as the spending shift from goods to services accelerates, inflation erodes disposable income and interest rates climb.
SEC‘s Hester sees ’movement on U.S. stablecoin regulations
LONDON (Reuters) – A top official at Wall Street watchdog the Securities and Exchange Commission (SEC) signalled on Thursday that stricter rules around crypto “stablecoins” could be drawing closer.
U.S. Senate panel to question Fed nominee Barr on May 19
WASHINGTON (Reuters) – President Joe Biden‘s second pick to serve as the top regulatory official at the Federal Reserve will be questioned by the U.S. Senate Banking Committee on May 19, according to the panel’s website.
Bank of Canada says rates are too stimulative, may need to go above neutral
By Julie Gordon and David Ljunggren OTTAWA (Reuters) – The Bank of Canadas policy rate, at 1%, is “too stimulative” given soaring inflation and interest rates may need to go above neutral because parts of the economy have become less sensitive to increases, an official said
Renault looking into splitting into EV, combustion units
PARIS (Reuters) – French carmaker Renault on Thursday said it was studying the option of creating two seperate entities, one specialising in the development and research of electric vehicles (EVs).
EU readies 195 billion euro plan to quit Russian fossil fuels
By Kate Abnett BRUSSELS (Reuters) – The European Commission plans to unveil a 195 billion euro plan to stop importing Russian fossil fuels by 2027, combining a faster rollout of renewable energy and energy savings with a switch to alternative gas supplies, draft documents show.
Explainer-What are stablecoins, the asset rocking the cryptocurrency market？
By Elizabeth Howcroft LONDON (Reuters) – Most cryptocurrencies have a major problem with price volatility, but one sub-category of coins is designed to maintain a constant value: stablecoins.
U.S. Treasurys Yellen says Fed can bring down inflation without causing recession
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said that she believes the Federal Reserve can bring down inflation without causing a recession because of a strong U.S. job market and household balance sheets, low debt costs and a strong banking sector
Swedish Match top 10 investor says Philip Morris bid a ‘healthy premium’
LONDON (Reuters) – Philip Morris‘ $16 billion offer for Stockholm-based Swedish Match represents a “healthy premium” and the Marlboro maker could yet go higher, Swedish Match’s No. 10 shareholder GACMO Investors said on Thursday.
UK refuses to publish security advice around Lebedevs appointment to upper chamber
By Andrew MacAskill LONDON (Reuters) – The British government has refused to publish the advice Prime Minister Boris Johnson received from security services before the British-Russian media boss Evgeny Lebedev was appointed to parliaments upper chamber.
Hes back: Wickremesinghe named Sri Lankan PM for 6th time amid crisis
By Uditha Jayasinghe and Alasdair Pal COLOMBO (Reuters) – Ranil Wickremesinghe, Sri Lankas new prime minister, is no stranger to politics.
Biden to get update on U.S. infant formula supplies on Thursday
WASHINGTON (Reuters) – U.S. President Joe Biden will speak with infant formula retailers and manufacturers about supply issues on Thursday before the White House announces additional actions to address shortages, a White House official said.