Financial News

TORONTO – Canadian economic activity expanded at its fastest pace on record in March, Ivey Purchasing Managers Index (PMI) data showed on Wednesday. The seasonally adjusted index rose to 74.2 …

By Huw Jones LONDON – The European Union must cut its heavy reliance on derivatives clearing in London in the same way as the bloc is ending its dependency on …

BERLIN – German flag carrier Lufthansa said it would cancel some domestic flights to Frankfurt from Thursday, an announcement that follows a staffing shortage warning from Germany’s biggest airport operator, …

BERLIN – Germany’s biggest airport operator Fraport said on Twitter on Wednesday it had to cancel flights as it was struggling to hire enough people after massive job cuts due …

(Reuters) – Cessna business jet maker Textron Aviation on Wednesday announced a firm order for five Cessna CJ3+ light jets with options for 25 more, as surging private air travel …

SHANGHAI – China on Wednesday issued a draft law on financial stability in a bid to further strengthen safety nets to prevent systemic financial risks in the world’s second biggest …

By Bhanvi Satija (Reuters) – A group of celebrity investors including Gwyneth Paltrow, Cameron Diaz and Drew Barrymore are backing telehealth startup Evernow, which raised $28.5 million in funding. Evernow …

JOHANNESBURG – Russian aluminium giant Rusal, whose global operations have been hobbled by the war in Ukraine, has exported its first bauxite shipment from its mines in Guinea in nearly …

ZURICH – Risks of rising inflation could prompt the Swiss National Bank to start exiting its ultra-loose monetary policy, the International Monetary Fund (IMF) suggested on Wednesday. Although uncertainty remains …

SINGAPORE – HSBC Holdings has launched a fund to capture investment opportunities in the metaverse for its rich clients in Hong Kong and Singapore as financial services companies tap into …

(Reuters) – The International Energy Agency (IEA) will release 120 million barrels of oil to ease prices, half of which would come from the United States, while other IEA members …

By Tim Hepher PARIS -Airlines will pass on rising oil prices to passengers through higher fares relatively quickly, but the spike in energy costs will worsen the industry’s overall outlook …

MUMBAI – U.S. investment firm Invesco is set to cut its holding in India’s Zee Entertainment by more than a third to 11%, it said on Wednesday, days after abandoning …

(Reuters) – New car sales in Russia fell 62.9% year-on-year in March, contracting for a ninth straight month, as the industry encountered an acute shortage and soaring prices caused by …

By Huw Jones LONDON -European investor campaign group Better Finance said on Wednesday it has set up a foundation to help 30,000 investors recover the 1.5 billion euros ($1.6 billion) …

By Shrutee Sarkar BENGALURU – The Bank of Canada will raise its overnight interest rate by 50 basis points at its next policy meeting on April 13, according to a …

BEIJING – China’s cabinet on Wednesday held out the prospect of more measures to support an economy under pressure from a slowing global recovery, volatile commodity markets and COVID-19 outbreaks. …

By Jorgelina do Rosario LONDON – Asset managers Blackrock Inc. and Ashmore Group Plc. are among the top holders of Sri Lanka’s international bonds that form part of a creditor …

(Reuters) – The cost of insuring exposure to corporate bonds surged on Wednesday as stock markets tumbled on worries of aggressive U.S. rate hikes hurting growth and further Western sanctions …

By Uday Sampath Kumar and Mehr Bedi (Reuters) – Wedding guests should prepare for a few surprises at this year’s post-pandemic U.S. nuptials as people discard their sweatpants for sheer …

By Josh Horwitz and Kevin Yao SHANGHAI – China’s top European business group warned on Wednesday that its “zero-COVID” strategy was harming the attractiveness of Shanghai as a financial hub, …

By Phoebe Fronista and Karolina Tagaris ATHENS -Thousands protested in Athens on Wednesday during a day-long nationwide strike over what workers call a “deepening crisis” of rising prices and squeezed …

By Krystal Hu NEW YORK – Kyle Ash snapped up 2,000 pounds ($2,615) worth of Twitter Inc shares as soon as he heard that Elon Musk had become the social …

MILAN – Vehicle production from sites owned in Italy by Stellantis and previously its predecessor Fiat Chrysler is set to fall for a fifth consecutive year in 2022 due to …

(Reuters) – The average interest rate on the most popular U.S. home loan kept climbing last week to stay at more than a three year high, a survey showed on …