JPMorgan profit rises as fixed-income trading rebounds
(Reuters) – JPMorgan Chase & Co, the biggest U.S. bank by assets, reported a better-than-expected quarterly profit after a decision by the Swiss central bank to remove a cap on the franc shocked markets and spurred trading in currencies and bonds.
Embattled BNY Mellon CEO gets rebuke, support at annual meeting
NEW YORK (Reuters) – Embattled BNY Mellon Corp CEO Gerald Hassell, under fire from activist investors, received a public rebuke on Tuesday at the bank’s annual meeting for lagging past performance, but also a vote of support to make improvements going …
OPEC should cut production by at least 5 percent: Iran oil minister
(Reuters) – The Organization of Petroleum Exporting Countries should cut its target daily production of oil by at least 5 percent, or approximately 1.5 million barrels, Iranian Oil Minister Bijan Zanganeh was quoted as saying on Tuesday.
Detroit, Stockton bankruptcies may flag wider problems: Fed’s Dudley
NEW YORK (Reuters) – The municipal bankruptcies in Detroit and Stockton, California, may foretell more widespread problems in the United States than is implied by current bond ratings, a top Federal Reserve official said on Tuesday.
NHTSA probe Subaru Impreza air bags
DETROIT (Reuters) – U.S. safety regulators have opened an investigation into Subaru Impreza sedans from model year 2012 because the front passenger seat air bags may fail to operate.
Global investors stick to stocks for now but bubble fear mounts
LONDON (Reuters) – International investors are getting increasingly anxious that stock markets may be due a downward lurch with more of them rating equities as “overvalued” than at any time since 2000, a global survey said on Tuesday.
Small business confidence falls; labor indicators weak
WASHINGTON (Reuters) – Small business confidence fell in March as hiring and capital spending plans weakened, adding to signs that economic growth braked sharply in the first quarter.
Retail sales rebound, post largest gain in a year
WASHINGTON (Reuters) – U.S. retail sales rose in March for the first time since late last year as consumers bought automobiles and other goods, bolstering views that a sharp slowdown in economic growth in the first quarter was temporary.
Japan PM adviser Hamada says dollar at Y120 acceptable
TOKYO (Reuters) – The yen is fairly valued around current levels, a key economic adviser to Prime Minister Shinzo Abe said on Tuesday, a day after comments he made were taken to mean the yen was too weak.
Citi seeking to sell retail FX arm: source
LONDON (Reuters) – Citigroup Inc is seeking a buyer for its retail forex brokerage CitiFX Pro as part of efforts to streamline the banking world’s biggest currency trading operation, a source familiar with the situation told Reuters on Tuesday.
