More insurers are deserting the net zero alliance as the UN climate group sounds the alarm

More insurers are deserting the net zero alliance as the UN climate group sounds the alarm

(1/3) The logo of insurer Allianz SE is seen on the company’s building in Puteaux, in the financial and business district of La Defense near Paris, outside Paris, France, May 14, 2018. REUTERS/Charles Platiau /File Photo Lloyd’s of London is the latest of the six to leave NZIA UN group warns ‘political attacks’ hurt insurers … Read more

Wall Street ends higher as Nvidia triggers AI stock rush

Wall Street ends higher as Nvidia triggers AI stock rush

Nvidia Hits All-Time High on Optimistic Forecast AI heavy gamers, Microsoft, rising alphabet Two rating agencies place US credit on negative watch Closing indices: S&P 500 +0.88%, Nasdaq +1.71%, Dow -0.11% May 25 (Reuters) – Wall Street ended sharply higher on Thursday after an explosive forecast from Nvidia sent shares of the chipmaker soaring and … Read more

AAArrgg! Stocks in debt ceiling danger zone after US rating warning

AAArrgg!  Stocks in debt ceiling danger zone after US rating warning

(1/2) The US Capitol is reflected in a falling puddle amid ongoing negotiations seeking a deal to raise the US debt ceiling and avert a catastrophic default, in Washington, US, on May 24, 2023. REUTERS/Jonathan Ernst SINGAPORE, May 25 (Reuters) – Markets were stuck in U.S. debt ceiling limbo on Thursday as Europe largely shrugged … Read more

PacWest shares jump after selling $2.6 billion home loan

PacWest shares jump after selling .6 billion home loan

May 22 (Reuters) – Shares of PacWest Bancorp (PACW.O) jumped on Monday after the troubled regional lender announced it had agreed to sell $2.6 billion in construction home loans at a price reduced in order to improve its balance sheet. PacWest shares rose nearly 20% on the deal, giving the Los Angeles-based bank breathing space … Read more

JPMorgan sees net interest income increase by $3 billion thanks to First Republic deal

JPMorgan sees net interest income increase by  billion thanks to First Republic deal

NEW YORK, May 22 (Reuters) – JPMorgan Chase & Co’s (JPM.N) net interest income will rise by $3 billion as it earns more interest on its purchase of bankrupt First Republic Bank this year , executives told investors Monday. The largest US lender expects its net interest income to reach $84 billion thanks to higher … Read more

How Wall Street is preparing for a possible US debt default

How Wall Street is preparing for a possible US debt default

NEW YORK/WASHINGTON, May 22 (Reuters) – As talks on raising the U.S. government debt ceiling to $31.4 trillion culminate, banks and asset managers on Wall Street are bracing for the fallout a potential defect. The financial industry has prepared for such a crisis before, most recently in September 2021. But this time the relatively short … Read more

China Keeps Lending Rates Stable; the market sees the reduced reserve ratio as the next step

China Keeps Lending Rates Stable;  the market sees the reduced reserve ratio as the next step

One-year LPR maintained at 3.65%, five-year LPR at 4.3% The yuan broke the 7 to the dollar mark Widest China-U.S. government bond yield spread in two months PBOC may cut RRR in next policy move – analysts SHANGHAI/SINGAPORE, May 22 (Reuters) – China kept key rates unchanged for the ninth month of May on Monday, … Read more

China fails Micron’s products in safety review, bans some purchases

China fails Micron’s products in safety review, bans some purchases

(1/2) Memory chip parts from U.S. memory chip maker MicronTechnology are pictured at their stand during an industry fair in Frankfurt, Germany July 14, 2015. REUTERS/Kai Pfaffenbach BEIJING, May 21 (Reuters) – China’s cyberspace regulator said on Sunday that products made by U.S. memory chipmaker Micron Technology Inc (MU.O) had failed its network security review … Read more

Morgan Stanley CEO succession highlights Wall Street’s diversity divide

Morgan Stanley CEO succession highlights Wall Street’s diversity divide

May 21 (Reuters) – The absence of women from the list of potential successors to the CEO of Morgan Stanley (MS.N) underscores the importance of cultivating and retaining diverse talent, according to corporate governance experts. Morgan Stanley co-chairmen Ted Pick and Andy Saperstein and chief investment officer Dan Simkowitz are the first to succeed James … Read more

Obesity drug provides heart health benefits alongside weight loss, study finds

Obesity drug provides heart health benefits alongside weight loss, study finds

DUBLIN, May 19 (Reuters) – Taking the new obesity drug from Novo Nordisk (NOVOb.CO) could help reduce the risk of heart disease and boost weight loss, according to a new U.S. study. After one year of taking semaglutide, marketed as Wegovy, patients’ risk of suffering conditions like a heart attack or stroke in the next … Read more