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FX reserve managers react to, not drive dollar moves, StanChart says

By Yoruk Bahceli LONDON (Reuters) -Reserve managers tend to buy the dollar when it weakens and sell when it rises, suggesting they might play a lesser role in driving the greenback than private investors, Standard Chartered said in a note on Thursday. Demand from central banks ...
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IKEA sales fall for second year in aggressive price-cutting push

By Greta Rosen Fondahn and Helen Reid STOCKHOLM/LONDON (Reuters) -IKEA’s annual sales fell for a second consecutive year, it reported on Thursday, as the budget furniture retailer stuck to a strategy of cutting prices to attract cash-strapped consumers and gain market share in a fiercely ...
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Wall Street futures gain after TSMC’s results support renewed AI optimism

(Corrects tariffs number to 100% from 00% in paragraph 10) (Reuters) -U.S. stock index futures rose on Thursday, boosted by strong quarterly update from TSMC that reinforced investor optimism around AI, extending a rally in chip stocks in the previous sessions. TSMC, the world’s biggest ...
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BNY profit boosted by higher interest, fees

(Reuters) -BNY reported a 21% jump in third-quarter profit on Thursday, as it earned higher interest and fees, while soaring equity markets boosted the value of its client assets. U.S. stock markets hit record levels in the latest quarter as AI exuberance and hopes of ...
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Fossil shares plunge 40% on extension of deadline for debt exchange offer

(Reuters) -Shares of U.S. watchmaker Fossil tumbled 40% in premarket trading on Thursday, after the company, which has been restructuring its debt, announced plans to extend the deadline to exchange its senior notes due 2026.  The company has extended the deadline by a week to ...
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Insurer Travelers’ profit jumps on lower catastrophe losses, stronger underwriting

(Reuters) -Insurance bellwether Travelers Companies reported a profit surge in the third quarter on Thursday, helped by lower catastrophe losses, stronger underwriting fees and higher investment returns. Resilient consumer spending, despite higher borrowing costs, has helped sustain insurance demand, as businesses and households continue to ...
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Salesforce jumps as $60 billion forecast eases revenue growth concerns

(Reuters) -Salesforce shares jumped more than 6% in premarket trading on Thursday, after the company forecast faster revenue growth in the coming years, easing concerns that AI tools were eroding demand for its software. The Marc Benioff-led company had posted its first revenue decline in ...
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Who’s winning the blame game over the government shutdown? Everyone and no one, AP-NORC poll finds

WASHINGTON (AP) — As the government shutdown drags on with no end in sight, a new AP-NORC poll finds that most Americans see it as a significant problem — and all of the major players are being blamed. Roughly 6 in 10 Americans say ...
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Armani exec Marsocci to become CEO of fashion house, source says

MILAN (Reuters) -Giorgio Armani’s deputy managing director, Giuseppe Marsocci, is set to be appointed chief executive of the Italian fashion house, a source said on Thursday, confirming a local media report. The appointment will be approved by a board meeting to be held later ...
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Kraken signs $100 million deal for Small Exchange to bulk up US derivatives business

(Reuters) -Crypto heavyweight Kraken said on Thursday it has acquired futures exchange Small Exchange from IG Group for $100 million, paving the way to launch a fully U.S.-based derivatives suite. Small Exchange is a U.S. Commodity Futures Trading Commission-licensed designated contract market, giving Kraken a ...
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Exclusive-Cost-cutting vs status quo: bidders envision starkly different futures for Citgo, sources say

By Marianna Parraga and Arathy Somasekhar HOUSTON (Reuters) -An affiliate of Elliott Investment Management wants to cut costs at Venezuela-owned Citgo Petroleum while a unit of Gold Reserve would largely focus on maintaining the status quo, five sources told Reuters, as a lengthy auction that ...
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Russian barrage causes blackouts in Ukraine as Zelenskyy seeks Trump’s help

KYIV, Ukraine (AP) — Russia battered Ukraine’s energy facilities with hundreds of drones and dozens of missiles in its latest heavy bombardment of the country’s power grid, authorities said Thursday, as Ukrainian President Volodymyr Zelenskyy prepared to ask President Donald Trump at a White ...
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