Author: Press Room

© Reuters. FILE PHOTO: The logo of Swiss bank Credit Suisse is seen in front of a branch office in Bern, Switzerland November 29, 2022. REUTERS/Arnd Wiegmann By Marc Jones LONDON (Reuters) – Credit Suisse saw investors pull a record 4.6 billion euros ($5.04 billion) out of its funds at the height of the bank’s troubles last month, data published on Friday showed. The data from Morningstar covered the whole of March, when a potential collapse of Credit Suisse saw Switzerland’s financial authorities orchestrate its emergency takeover by rival UBS. The data also showed that Swisscanto, another Swiss asset manager,…

By Michelle Nichols UNITED NATIONS (Reuters) – A deal allowing the safe Black Sea export of Ukraine grain could start winding down next week after Russia said it will not approve any new vessels unless their operators guarantee the transits will be done by May 18 – “the expected date of … closure.” Russia has strongly signaled that it will not allow the Ukraine Black Sea export deal – agreed in July last year – to continue beyond May 18 because a list of demands to facilitate its own grain and fertilizer exports has not been met. According to an…

By Nelson Bocanegra BOGOTA (Reuters) – Analysts are divided on whether Colombia’s central bank board will hold the interest rate steady for the first time in 18 months or back one more increase in a tightening cycle meant to fight inflation, a Reuters poll showed on Friday. Fifteen of 26 analysts predicted the seven-member board will hold the rate at 13% at its meeting next week, while the remaining 11 projected a 25 basis point increase to 13.25%. The majority believed inflation will have reached its peak in March, when it rose to an unexpected 12-month figure of 13.34%, more…

Bed Bath & Beyond, the store for seemingly everything in your home during the 1990s and 2000s, filed for bankruptcy on Sunday. “Thank you to all of our loyal customers. We have made the difficult decision to begin winding down our operations,” a statement at the top of the company’s website said Sunday morning. The company’s 360 Bed Bath & Beyond locations, along with its 120 buybuy BABY stores, will remain open for now, as will websites. The company secured a $240 million loan to help fund its operations during bankruptcy. But store closing sales will begin Wednesday, and Bed…

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Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content.It is no news that the crypto space has always been a hotbed for innovation and disruptive ideas. One such project that is getting a lot of attention this time is Script Network (SCPT). The platform seeks a well-balanced reward system for content creators and viewers. To create a community as strong as Dogecoin (DOGE), Shiba Inu (SHIB), and Cronos (CRO), Script Network (SCPT) has set its sights on carving out a unique niche in the crypto landscape. As Script Network is in for a revolution, the coin…

President Joe Biden is poised to name Julie Chavez Rodriguez, a senior White House adviser, to oversee his reelection campaign, two senior Democratic advisers tell CNN — a decision that paves the way for his announcement as early as this week that he’s seeking a second term. Read the full article here

While many Wall Street analysts cut their price targets on Tesla shares after a disappointing earnings report, Cathie Wood’s ARK Invest went a different direction.  It’s almost a Rite of Spring. On Thursday, ARK lifted its price target for Tesla (ticker: TSLA) from $1,533 (after the stock’s 3:1 split) to $2,000 a share. The average analysts’ price target for Tesla following its first-quarter results, reported Wednesday, sits at about $192, according to FactSet, down about $10 over the past couple of days. ARK’s target, which is more than 10 times higher than the Street’s number, is for 2027. Wall Street’s…

© Reuters. By Yasin Ebrahim Investing.com — The Dow closed lower Friday, snapping a four-week win streak on mixed quarterly earnings ahead of results from big tech next week.  The was 0.1%, or 22 points higher, the rose 0.1%, and the  added 0.1%. The slew of mixed quarterly results continued to weigh on investor sentiment, with materials the biggest loser on the day, driven by a slump in Freeport-McMoran Copper & Gold. Freeport-McMoran Copper & Gold (NYSE:) reported quarterly that topped estimates, but profit more than halved and the mining company warned of a further impact from ongoing labor shortages,…

By Tim McLaughlin (Reuters) – Hatfield’s Ferry Power Station, a Pennsylvania coal-fired power plant, stopped producing electricity in 2013. Its closure came in a wave of coal-plant shutdowns triggered by competition from cheaper, cleaner and incentives in the U.S. Clean Air Act. But the facility’s legacy of smog pollution continued long after it closed. That’s because a loophole in clean-air regulations allowed Hatfield’s Ferry to collect emissions allowances under a cap-and-trade program for five years after it shut down. The plant’s owner then sold those credits to other plants, which can use them to stay in compliance when they exceed…