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19 May

Shares slump as retail giants sound stagflation alarm

Heavy falls in European and Asian stock markets followed Wall Street's worst day since mid-2020 on Thursday, as stark warnings from some of the world's biggest retailers underscored just how hard inflation is biting.

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19 May

Exclusive-Major Credit Suisse shareholder calls for new CEO

Credit Suisse should start looking for a new CEO to replace Thomas Gottstein, top-ten shareholder Artisan Partners told Reuters, becoming the first major investor to publicly call for such a move at the scandal-hit Swiss bank.

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19 May

Kohl's becomes latest retailer to warn of inflation eating into profits

Kohl's Corp cut its full-year earnings forecast on Thursday, joining some of America's biggest retailers in warning that a four-decades high inflation is starting to take a toll on profit margins and consumer spending power.

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19 May

Grab reports rise in revenue on strong demand for food delivery

(Reuters) -Grab Holdings Ltd, Southeast Asia's No. 1 ride-hailing and food delivery firm, on Thursday reported a 6% rise in quarterly revenue as more people ordered food online.

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19 May

ECB to force UK-based investment banks to relocate staff, trading

Too many global investment banks continue to serve euro zone clients out of London and the European Central Bank plans to force them to relocate senior staff and trading activity to the bloc, ECB supervisory chief Andrea Enria said on Thursday.

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19 May

Startup Gatik says it will put self-driving trucks on the road in Kansas

Autonomous delivery truck startup Gatik on Thursday said it will be putting its box trucks on the road in Kansas after state officials gave it and its partner and customer Walmart Inc the go-ahead.

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19 May

Futures signal more selling on Wall Street as growth fears mount

U.S. stock index futures fell on Thursday, signaling more selling on Wall Street as investors kept a close eye on the impact of rising inflation on the U.S. economy and corporate earnings.

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