Copper rebounded from its lowest close in four months as metals received a boost from speculation the Federal Reserve is set to pause hiking interest rates, which increased appetite for risk assets.
Home and clothing retailer Next seems reluctant to take a win. Its sales weren’t quite as bad as they previously feared, but instead of raising guidance for the full year, they’re saying next quarter will be worse. “Shareholders might wonder why we are so cautious for sales in Q2,” the company said in its statement. The company might be wise to be cautious around its shareholders — consumer giant Unilever Plc faced a revolt yesterday as shareholders rejected its directors pay report at its A
Wheat prices extended their biggest jump in six months as tensions escalated in the Black Sea after Moscow said that it downed a pair of drones that attacked the Kremlin. Ukraine denied Russian allegations that its government organized the attack.
The US and the Philippines promised to deepen their defense alliance through expanded military drills and joint patrols during President Ferdinand Marcos Jr’s visit at the Pentagon where he was given rare honors, amid escalating China tensions.
PacWest Bancorp said deposits have increased since March and confirmed it’s in talks with several potential investors, seeking to calm markets after a 60% stock rout that made it the new focal point of concern over the health of US regional lenders.
BMW AG’s first-quarter earnings rose as strong sales of its most expensive cars offset weakening demand for entry-level models, especially in Europe.
The US regional banking system is at risk and the regulator’s failure to update and expand its insurance regime has “hammered more nails in the coffin,” Pershing Square’s Bill Ackman said.
Rising demand for natural gas in Asia and the Middle East is set to offset a decline in other regions this year, helping to keep the global market tight, according to the International Energy Agency.
A.P. Moller-Maersk A/S, a bellwether for global trade, reported a 56% decline in first-quarter operating profit and signaled weaker results for the rest of 2023 as transport volumes slowed and freight rates plunged.
British Gas will stop using an outside firm that fitted compulsory pre-payment meters at customers in debt after a public backlash.
