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Reuters - 1 hour ago

Two-thirds of U.S., European jobs could be done by AI

LIVE MARKETS-Two-thirds of U.S., European jobs could be done by AI STOXX 600 up 1.2% Bank jitters ease Trial success boosts Novartis S&P 500 futures up 0.5% Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com . TWO-THIRDS OF U.S., EUROPEAN JOBS COULD BE DONE BY AI (1224 GMT) Artificial intelligence could boost global labour productivity and eventually increase annual global economic

Reuters - 7 hours ago

Al Rajhi Bank to issue dollar sustainable sukuk

Al Rajhi Bank to issue dollar sustainable sukuk DUBAI, March 27 (Reuters) - Saudi Arabia's Al Rajhi Bank 1120.SE is planning an issuance of U.S. dollar-denominated sustainable Islamic bonds, according to an investor presentation seen by Reuters. Al Rajhi Capital, Citi, Emirates NBD Capital, Goldman Sachs, HSBC, JPMorgan, KFH Capital and Standard Chartered are joint lead managers and bookrunners for the five-year sukuk.

Reuters - 9 hours ago

US bank trading and deposits in focus after rollercoaster month

ANALYSIS-US bank trading and deposits in focus after rollercoaster month By Tatiana Bautzer and Nupur Anand New York, March 27 (Reuters) - As U.S. banks prepare to close the books on a tumultuous quarter, analysts say trading revenue and deposits are among the key numbers to watch when lenders report earnings in mid-April. After two high-profile bank closures this month shook confidence in the industry, observers are focused on whether firms will become more conservative by reining in lending or

Reuters - 2 days ago

Advent launches sale of French biometrics firm report

Advent launches sale of French biometrics firm IDEMIA -report PARIS, March 25 (Reuters) - Private equity group Advent has launched the sale of French biometrics and fingerprint identification firm IDEMIA, a deal expected to be worth several billion euros, business daily Les Echos reported on Saturday. Reuters reported in September , citing sources familiar with the matter, that Advent was preparing to start the sale process after mandating banks Goldman Sachs and Rothschild.

Reuters - 3 days ago

Bank of America to redeploy wealth management, banking employees - source

Bank of America to redeploy wealth management, banking employees - source March 24 (Reuters) - Bank of America Corp BAC.N is redeploying employees in wealth management and lending to other roles within the company, a source familiar with the matter said on Friday, as higher interest rates continue to weigh on the businesses. Less than 200 employees are being moved to product specialist positions within the company's global operations organization, the source told Reuters.

Reuters - 3 days ago

Former Goldman banker must forfeit $35.1 mln in 1MDB corruption case

Former Goldman banker must forfeit $35.1 mln in 1MDB corruption case By Jonathan Stempel and Luc Cohen NEW YORK, March 24 (Reuters) - A U.S. judge on Friday ordered former Goldman Sachs Group Inc GS.N banker Roger Ng to forfeit $35.1 million, after sentencing him to 10 years in prison for helping loot billions of dollars from Malaysia's 1MDB sovereign wealth fund.

Reuters - 3 days ago

U.S. STOCKS ReNew Energy, First Horizon, Block Inc

BUZZ-U.S. STOCKS ON THE MOVE-ReNew Energy, First Horizon, Block Inc Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: https://refini.tv/3LI4BU7 The Morning News Call newsletter: https://refini.tv/3dKUyB8 Wall Street's main indexes fell on Friday as investors fled from risky assets on growing concerns that a contagion in the banking sector had not been fully averted despite assurances from key officials.

Reuters - 3 days ago

U.S. STOCKS Incyte Corp, Netflix Inc, Comerica Inc

BUZZ-U.S. STOCKS ON THE MOVE-Incyte Corp, Netflix Inc, Comerica Inc Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: https://refini.tv/3LI4BU7 The Morning News Call newsletter: https://refini.tv/3dKUyB8 Wall Street's main indexes opened lower on Friday as concerns over the banking sector's health sapped the appetite for financial stocks.

Reuters - 3 days ago

US business investment appears weak in first quarter as orders rise moderately

WRAPUP 2-US business investment appears weak in first quarter as orders rise moderately Adds business activity survey, analyst comments, markets Core capital goods orders increase 0.2% in February Shipments of core capital goods unchanged Business activity picks up in March; manufacturing weak By Lucia Mutikani WASHINGTON, March 24 (Reuters) - New orders for key U.S.-manufactured capital goods unexpectedly rose in February, but data for the prior month was revised sharply down, suggesting that b

Reuters - 3 days ago

Clorox tries to sell loss-making vitamins business -sources

Clorox tries to sell loss-making vitamins business -sources By Abigail Summerville March 24 (Reuters) - Bleach maker Clorox Co CLX.N has been seeking to divest its vitamins, minerals and supplements (VMS) business after efforts to scale it led to major losses, according to four people familiar with the situation. The VMS business represents just 3% of Clorox's total net sales, yet in 2021 it forced it to take a $267 million writedown, equivalent to 57% of its most recent annual net earnings, as

Reuters - 3 days ago

Ally Financial taps Goldman Sachs executive Hutchinson as CFO

UPDATE 1-Ally Financial taps Goldman Sachs executive Hutchinson as CFO Adds details from statement March 24 (Reuters) - Ally Financial Inc ALLY.N has hired Russell Hutchinson from Goldman Sachs GS.N as its chief financial officer effective July 3, the company said on Friday. Hutchinson has spent two decades working in Goldman Sachs's investment banking division, advising clients in the specialty finance sector – including Ally.

Reuters - 3 days ago

Gold steadies, Fed pause bets brighten outlook

PRECIOUS-Gold steadies, Fed pause bets brighten outlook U.S. dollar up 0.7% Silver to outperform gold over next 6-12 months - Citi Silver set for second straight weekly gain Recasts, adds comments and updates prices By Ashitha Shivaprasad March 24 (Reuters) - Gold steadied into a tight range on Friday after a volatile week so far as support from lower U.S.

Reuters - 3 days ago

Indonesian rupiah jumps on foreign inflows, most other Asian currencies subdued

EMERGING MARKETS-Indonesian rupiah jumps on foreign inflows, most other Asian currencies subdued Singapore Feb industrial production falls Malaysia Feb CPI higher than forecast Equities in Asia mixed, Indonesian stocks soar By Jaskiran Singh March 24 (Reuters) - The Indonesian rupiah IDR= rose more than 1% on Friday, aided by foreign inflows as trading resumed after a two-day holiday, while most other Asian currencies were subdued over mixed signals from the U.S.

Reuters - 3 days ago

Swiss franc grapples with safe-haven identity crisis after Credit Suisse

Swiss franc grapples with safe-haven identity crisis after Credit Suisse Swiss-centric crisis sees Swiss franc lose favour Investors shelter elsewhere, boosting gold, yen, bonds Swissie risk concentrated in Swiss economy - analyst Swiss franc's days as investment refuge are not over But currency is not an 'all-weather' haven - strategist By Samuel Indyk LONDON, March 24 (Reuters) - The Swiss franc hasn't lived up to its safe-haven reputation during the Credit Suisse collapse, as investors have s

Reuters - 3 days ago

Oil slides 2.5% on concerns over health of banking sector

UPDATE 6-Oil settles down on worries over European banks, U.S. crude reserve Banking stocks slide Deutsche Bank, UBS financial uncertainty Yellen convenes Financial Stability Oversight Council meeting U.S. could take years to refill oil reserve -energy secretary Updates with settlement prices By Laura Sanicola March 24 (Reuters) - Oil prices settled lower on Friday as European banking shares fell and after U.S.

Reuters - 4 days ago

Oil falls as US holds off refilling strategic reserve

Oil falls as US holds off refilling strategic reserve By Yuka Obayashi TOKYO, March 24 (Reuters) - Oil prices fell on Friday, extending the previous day's losses, on worries about potential oversupply after U.S. Energy Secretary Jennifer Granholm said refilling the country's Strategic Petroleum Reserve (SPR) may take several years. Brent crude futures LCOc1 slid 48 cents, or 0.6%, to $75.43 a barrel by 0039 GMT, while U.S.

Reuters - 4 days ago

Warren Buffett's investments in financial firms

FACTBOX-Warren Buffett's investments in financial firms NEW YORK, March 23 (Reuters) - Berkshire Hathaway's Warren Buffett has been in discussions with senior Biden administration officials about the banking crisis, leading some to speculate that Buffett would consider investing in the sector following the collapse of Silicon Valley Bank. Buffett has been known to invest during difficult periods for the market, famously buying a stake in Goldman Sachs during the financial crisis and in Bank of A

Reuters - 4 days ago

Europe Gasoline/Naphtha-Cracks rise as U.S. demand anticipated

Europe Gasoline/Naphtha-Cracks rise as U.S. demand anticipated March 23 (Reuters) - Northwest European gasoline refining margins rose to $15.42 a barrel on Thursday despite a rise in European stocks as the market anticipated a fall in storage in the U.S. would drive demand. Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area rose by 6%, data from Dutch consultancy Insights Global showed on Thursday.

Reuters - 4 days ago

Shou Zi Chew: Who is the TikTok CEO testifying before Congress?

Shou Zi Chew: Who is the TikTok CEO testifying before Congress? March 23 (Reuters) - TikTok Chief Executive Shou Zi Chew has mostly kept a low profile since taking the job in 2021 but on Thursday he is testifying before U.S. lawmakers , many of them suspicious of the popular Chinese-owned social media app. Chew previously worked as an investment banker at Goldman Sachs and investment firm DST, which was an early backer of ByteDance, the company that owns TikTok.

Reuters - 4 days ago

The sure-footed Fed of the past year now in doubt about next policy move

UPDATE 1-The sure-footed Fed of the past year now in doubt about next policy move Adds background, new research on lending effects By Howard Schneider WASHINGTON, March 23 (Reuters) - For the first time in a year the Federal Reserve has left its next policy step in doubt as o fficials weigh the risks of continued high inflation against a possibly looming U.S.

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