Growth stumbling but central bank arsenals are near-empty
Global economic growth is slowing, according to the International Monetary Fund, policymakers and hundreds of economists polled by Reuters – but that downturn is coming at a time when central banks’ arsenals are running on empty.
JPMorgan profit beat eases fear of slowing economy
JPMorgan Chase & Co posted a better-than-expected quarterly profit on Friday, easing fears that slowing economic growth could weigh on its results.
Oil has best run in three years; JPM earnings boost stocks
Signs of stabilization in China’s economy and a weaker dollar helped oil markets to their best run in more than three years on Friday, while global stocks edged up after JP Morgan’s results began the corporate earnings season in style.
Wells Fargo’s quarterly profit rises 16 percent as cost cuts pay off
Wells Fargo & Co reported a 16.4 percent jump in quarterly profit on Friday, as the lender reaped the benefits of its aggressive cost-cutting efforts.
Merck KGaA agrees $6.5 billion takeover of Versum
Germany’s Merck KGaA said it signed a takeover agreement with target Versum Materials for a price of $53 per share after Versum walked away from a prior merger agreement with rival Entegris.
HSBC faces shareholder anger over pensions, coal finance at AGM
HSBC shareholders on Friday overwhelmingly voted against ending a form of pension cuts affecting thousands of former employees, following a protest by some of them outside the bank’s annual meeting in Birmingham.
Take Five: Wall Street calling! World market themes for the week ahead
Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.
Chevron to buy Anadarko for $33 billion in shale push
Chevron Corp unveiled a $33 billion takeover of Anadarko Petroleum Corp on Friday, bolstering its position in shale oil and liquid natural gas production with the biggest industry merger since Royal Dutch Shell bought BG Group in 2016.
Alibaba founder defends overtime work culture as ‘huge blessing’
Alibaba Group founder and billionaire Jack Ma has defended the grueling overtime work culture at many of China’s tech companies, calling it a “huge blessing” for young workers.
PNC Financial first-quarter profit meets estimates
PNC Financial Services Group Inc’s first-quarter profit met analysts’ estimates on Friday, as a rise in expenses and provision for credit losses overshadowed growth in interest income and loans.
