Stocks News

PARIS (Reuters) – LVMH, the world’s largest luxury company, reported a 17% rise in first-quarter sales, more than double analysts’ expectations, as China rebounded after COVID-19 lockdowns.

By Noele Illien ZURICH (Reuters) – Swiss lawmakers resumed their debate over the rescue of Credit Suisse on Wednesday, after parliament’s two chambers failed to reach an agreement a day earlier.

By Marcela Ayres and Bernardo Caram BRASILIA (Reuters) – Foreign investors are returning in numbers to Brazil’s public debt market, Treasury Secretary Rogerio Ceron told Reuters, just after local financial assets rallied since the government proposed new fiscal rules two weeks ago.

MEXICO CITY (Reuters) – The United States has said it will return money and assets confiscated from a convicted former senior Mexican state official that were worth over $246 million, Mexican President Andres Manuel Lopez Obrador said on Wednesday.

By Hannah Lang WASHINGTON (Reuters) – Stricter banking regulations would not have prevented Silicon Valley Bank’s sudden collapse last month, a top official at the Federal Deposit Insurance Corporation said on Wednesday, highlighting instead management failures behind its demise.

CHENGDU, China (Reuters) – Chinese electric vehicle (EV) maker Zeekr on Wednesday launched a new compact sports utility vehicle (SUV) as the Geely-owned brand strives for market share in a premium segment previously dominated by German rivals.

WASHINGTON (Reuters) – U.S. consumer prices barely rose in March as the cost of gasoline declined, but stubbornly high rents kept underlying inflation pressures simmering, likely ensuring that the Federal Reserve will raise interest rates again next month.

By Sheila Dang (Reuters) – Snap Inc, owner of photo messaging app Snapchat, said on Wednesday it has hired a former Google executive to help the tech company improve the performance of its digital ads.

(Reuters) – JPMorgan Chase & Co is asking all its managing directors to work from office five days a week, the bank said in an memo that was seen by Reuters on Wednesday.

By Jody Godoy and Helen Coster (Reuters) – A Fox Corp shareholder sued Chairman Rupert Murdoch and four other board members on Tuesday, saying they failed to stop Fox News from reporting falsehoods about the 2020 U.S. presidential election that damaged its credibility and prompted lawsuits.

(Reuters) – Bank of England Governor Andrew Bailey said bank reforms enacted after the global financial crisis of 2007-09 worked during the recent banking turmoil, but there were questions about whether banks should set aside bigger cash buffers in future.

SAO PAULO (Reuters) – Brazil’s retail sector started 2023 stronger than expected and with record high sales in January, although the outlook is that the tight credit scenario and weak economy amid high interest rates will weigh on the sector going forward.

(Reuters) – Warren Buffett on Wednesday said people should not be panicked about the banking industry or the safety of U.S. bank deposits, despite the recent failures of Silicon Valley Bank and Signature Bank.

By Huw Jones LONDON (Reuters) – European Union plans, due next week, will seek to speed up handling of failing banks to ensure they are not bailed out by taxpayers but “bailed in” using their own resources, EU documents seen by Reuters showed.

(Reuters) – Alphabet Inc’s self-driving technology unit Waymo said on Wednesday that some of its vehicles in San Francisco encountered dense fog and briefly pulled over to the side of the road.

By Stephen Nellis (Reuters) – Intel Corp on Wednesday said its chip contract manufacturing division will work with U.K.-based chip designer Arm Ltd to ensure that mobile phone chips and other products that use Arm’s technology can be made in Intel’s factories.

By Stephen Nellis (Reuters) – Nvidia Corp said on Wednesday it is packing one of its mid-range chips for gamers with more artificial intelligence features to improve graphics, underscoring the importance of gaming for the company despite the segment’s slowing revenue.

ZURICH (Reuters) – Switzerland’s parliament on Wednesday rejected a Credit Suisse rescue package that included 109 billion Swiss francs ($120.87 billion)in financial guarantees in a largely symbolic vote as the government commitment, made using emergency law, can not be overturned.

Core CPI increased 0.4% and YoY core inflation was 5.6%, higher than target.

By Krystal Hu (Reuters) – Data startup Cybersyn said it has raised $62.9 million from investors including Snowflake Inc, Coatue Management and Sequoia Capital, its chief executive told Reuters.