Exclusive: ECB union says staff losing faith in leadership over inflation, pay

Exclusive: ECB union says staff losing faith in leadership over inflation, pay

40% of ECB staff has low or no trust Two-thirds say confidence is damaged 63% worried about ECB’s ability to protect purchasing power FRANKFURT, Jan 18 (Reuters) – (This Jan. 17 story has been corrected to restore the dropped words in paragraph 11) European Central Bank staff are losing confidence in the institution’s leadership following … Read more

BOJ defies market bets for policy tweaks, yen tumbles

BOJ defies market bets for policy tweaks, yen tumbles

BOJ keeps interest rate targets, yield band intact BOJ ramps up market operation tool, signal status quo on YCC Board raises inflation forecasts but cuts growth projections TOKYO, Jan 18 (Reuters) – The Bank of Japan on Wednesday maintained ultra-low interest rates, including a bond yield cap it was struggling to defend, defying market expectations … Read more

U.S. stocks drop on recession fears, Nasdaq closes at new bear market low

U.S. stocks drop on recession fears, Nasdaq closes at new bear market low

Tesla gains 3.3% in choppy trade Southwest Airlines slips 5.2% on government scrutiny Indexes down: Dow 1.1%, S&P 500 1.20%, Nasdaq 1.35% Dec 28 (Reuters) – Wall Street’s main indexes ended weaker on Wednesday, with the Nasdaq hitting a 2022 closing low, as investors grappled with mixed economic data, rising COVID cases in China, and … Read more

Tesla, megacap growth stocks pull Nasdaq lower; Dow rises

Tesla, megacap growth stocks pull Nasdaq lower; Dow rises

Tesla slumps on report of reduced output plan China ADRs rise on reopening optimism Indexes mixed: Dow up 0.40%, S&P down 0.11%, Nasdaq down 0.80% Dec 27 (Reuters) – The tech-heavy Nasdaq came under pressure on Tuesday following declines in some megacap growth stocks and Tesla, while optimism around an economic recovery in China after … Read more

Wall St stocks fall, oil rises as China drops quarantine rule

Wall St stocks fall, oil rises as China drops quarantine rule

NEW YORK/LONDON, Dec 27 (Reuters) – Wall Street’s benchmark S&P 500 and the Nasdaq fell on Tuesday after the release of U.S. economic data, while oil prices rose after China said it would scrap its COVID-19 quarantine rule for inbound travellers, which was seen as a major step in reopening its borders. U.S. Treasury yields … Read more

CarMax results hit by ‘used-vehicle recession’; buyback paused

CarMax results hit by ‘used-vehicle recession’; buyback paused

Dec 22 (Reuters) – Used-car retailer CarMax Inc (KMX.N) said on Thursday it was pausing some hiring, halting share buybacks and cutting expenses after reporting an 86% drop in third-quarter profit as the industry struggles to offload inventory amid waning demand. The company’s shares fell as much as 12% to $52.10 and were at more … Read more

Rouble tumbles to near eight-month low vs dollar

Rouble tumbles to near eight-month low vs dollar

This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Dec 22 (Reuters) – The rouble slumped to its weakest since late April past 72 against the dollar on Thursday as fears over the impact of sanctions on Russian oil and gas took the currency’s losses this … Read more

Core Scientific files for bankruptcy as crypto winter bites

Core Scientific files for bankruptcy as crypto winter bites

Dec 21 (Reuters) – Core Scientific Inc (CORZ.O), one of the biggest publicly traded cryptocurrency mining companies in the United States, said on Wednesday it filed for Chapter 11 bankruptcy protection, the latest in a string of failures to hit the sector. Austin, Texas-based Core Scientific attributed its bankruptcy to slumping bitcoin prices, rising energy … Read more

Wall St closes slightly higher after four-day sell off

Wall St closes slightly higher after four-day sell off

BOJ policy shift knocks global sentiment Tesla falls 8% after brokerages cut PT Energy stocks lead gains on crude support Indexes up: Dow 0.28%, S&P 0.10%, Nasdaq 0.01% Dec 20 (Reuters) – Wall Street closed slightly higher on Tuesday after four sessions of declines, but investors fretted about weak holiday shopping and rising bond yields … Read more

China races to install hospital beds as COVID surge sparks concern abroad

China races to install hospital beds as COVID surge sparks concern abroad

Authorities rush to add hospital beds, build fever clinics U.S. raises concerns over possibility of COVID mutations Beijing reports five more deaths on Tuesday Security tight at crematoriums amid doubts over death toll BEIJING/WASHINGTON, Dec 20 (Reuters) – Cities across China scrambled to install hospital beds and build fever screening clinics on Tuesday as the … Read more