Stocks News

(Reuters) -Citigroup Inc reported a rise in first-quarter profit on Friday as it earned more from borrowers paying interest on loans.

WASHINGTON (Reuters) – U.S. retail sales fell more than expected in March as consumers cut back on purchases of motor vehicles and other big ticket items, suggesting that the economy was losing steam at the end of the first quarter because of higher interest rates.

By Sinéad Carew and Saqib Iqbal Ahmed (Reuters) – Shares in U.S. banks were a mixed bag on Friday with JPMorgan Chase soaring 7.0% after its quarterly report impressed investors while PNC Financial was among regional bank decliners after it reduced growth expectations for 2023.

(Reuters) – Walmart Inc U.S. chief merchandising officer Charles Redfield is stepping down after just over a year in the role, according to an internal memo seen by Reuters on Friday, at a time the retailer is navigating a tightening spending environment.

By Marc Jones LONDON (Reuters) – Turkey’s lira is likely to drop sharply and could near 30 to the dollar following next month’s elections, bankers at JPMorgan have predicted, if it looks like only modest changes will be made to its unorthodox economic policies.

(Reuters) – Wells Fargo & Co’s profit rose in the first quarter as it earned more from interest rate payments, helped by the U.S. Federal Reserve’s tighter monetary policy, the lender reported Friday.

By Jack Queen (Reuters) – Opening statements are set to begin on Monday in Wilmington, Delaware in a defamation lawsuit by Dominion Voting Systems against Fox Corp and Fox News, which is seeking $1.6 billion in damages over the network’s coverage of false vote-rigging claims in

NEW DELHI (Reuters) – A proposed Indian government unit to fact-check news on social media is not about censoring journalism nor will it have any impact on media reportage, a federal minister said on Friday.

LONDON (Reuters) -There is no evidence that the COVID-causing virus came from animals, the former head of the Chinese Center for Disease Control and Prevention (CDC) said on Friday.

(Fixes typo in first paragraph) By Joice Alves

LONDON (Reuters) – HSBC’s planned sale of its French retail banking business to Cerberus-backed My Money Group may fall through due to interest rate rises in France, the British bank said on Friday.

(Reuters) -Parler, a social media app popular with U.S. conservatives, was sold to digital media conglomerate Starboard for an undisclosed sum and will be shut down temporarily to give its new owner time to roll out a revamped version of the platform.

(Reuters) – Southwest Airlines expects an ongoing Boeing 737 MAX manufacturing problem to delay some plane deliveries this year, Southwest said Friday.

By Valentine Hilaire MEXICO CITY (Reuters) – Mexican investment firm JLL Capital, whose Honduran operation has been blocked since 2018 in a local dispute, is seeking some $380 million from the Central American country in arbitration proceedings, claiming that it violated foreign investment protections, documents reviewed

By Howard Schneider (Reuters) – Despite a year of aggressive rate increases U.S. central bankers “haven’t made much progress” in returning inflation to their 2% target and need to move interest rates higher still, Federal Reserve Governor Christopher Waller said on Friday.

(Reuters) – Loblaw Companies Ltd on Friday said it would spend C$2 billion ($1.50 billion) to expand its business in 2023 and create more than 6,000 new jobs in retail, supply chain, technology and construction in Canada.

By Birsen Altayli and Can Sezer ISTANBUL (Reuters) – The deadliest earthquake in Turkey’s modern history has reawakened fears on the other side of the country that Istanbul is an even bigger disaster waiting to happen, sending hundreds of thousands scrambling to find safer homes.

In March 2023, the estimated sales of retail and food services in the US were $691.7 billion, reflecting a 1% decrease from the previous month.

BENGALURU (Reuters) – Bodhi Tree, a joint venture between James Murdoch and a former Star India executive, has reduced its planned investment in Reliance’s broadcast venture Viacom18 by 70% and will now pump in 43.06 billion rupees ($527.84 million), Viacom18 said late on Thursday.

(Reuters) – PNC Financial Services Group reported an 18.5% rise in first-quarter profit on Friday, as the Federal Reserve’s rate hikes fueled a surge in the U.S. regional lender’s net interest income (NII).