French lender Societe Generale said on Thursday it would have additional costs as a result of the war in Ukraine because more customers would be unable to repay their loans, underscoring the ever wider economic damage in Europe.

China's services sector activity contracted at the second-steepest rate on record in April, as COVID curbs halted the industry, leading to sharper reductions in new business and employment, a private-sector survey showed on Thursday.

WASHINGTON (Reuters) -The U.S. Senate on Wednesday moved to begin formal legislative talks on a long-stalled bill to pay for $52 billion in semiconductor chips manufacturing subsidies and boost U.S. competitiveness with China.

WASHINGTON (Reuters) -The U.S. Congress edged closer on Wednesday toward completing a long-stalled bill authorizing hundreds of billions of dollars to boost the country's ability to compete with Chinese technology, with Senate votes on motions addressing a range of issues, including Iran policy.

Oil prices edged higher on Thursday, extending gains from the previous session, as a European Union proposal for new sanctions against Russia, including an embargo on crude in six months, offset concerns over Chinese demand.

(Reuters) -Major U.S. banks including JPMorgan Chase & Co, Wells Fargo Bank and Citibank have raised their prime rate to 4%, effective Thursday.