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LONDON (Reuters) – Pope Francis has gifted fragments believed to be from the True Cross on which Jesus was crucified to form part of a new processional cross which will be used at the coronation of Britain’s King Charles next month. The new cross, made from recycled silver along with Welsh slate and reclaimed wood, was a gift from the king to the Church in Wales to mark its centenary […]

(Reuters) – Fox News on Tuesday disposed of one legal threat with its $787.5 million defamation settlement with Dominion Voting Systems, but the network still faces a $2.7 billion lawsuit from another voting technology company over its coverage of debunked election-rigging claims. Dominion accused Fox and its parent company Fox Corp of ruining its business by airing claims that its machines were used to rig the 2020 U.S. presidential election […]

By Amanda Cooper LONDON (Reuters) -Global stocks fell on Wednesday, while a rally in the dollar gained momentum, as investor focus honed in on what the Federal Reserve may have to do to tame inflation, rather than on the recent problems in the U.S. banking sector. The MSCI All-World index fell 0.3%, thanks to a broad-based decline in global equities. U.S stock futures fell between 0.5 and 0.7%. Wall Street’s […]

By Clara Denina and Yadarisa Shabong LONDON (Reuters) -Glencore has told Teck Resources shareholders it is willing to improve its $22.5 billion takeover offer, raising pressure on the Canadian miner to ditch a restructuring plan and sit down at the negotiating table. In an open letter on Wednesday, Glencore said it would consider taking the offer to Teck’s shareholders directly if the board failed to engage. The Swiss miner and […]

(Reuters) -Morgan Stanley’s first-quarter profit beat expectations as rising revenue from its wealth management division offset declines in its investment banking and trading units.  Shares, however, fell more than 2% in premarket trading. Revenue from investment banking fell 24% to $1.25 billion, while the wealth management unit saw a 11% jump, bringing in $110 billion in net new assets. Wall Street’s investment banks have suffered the most from a downturn […]

(Reuters) -Abbott Laboratories reported quarterly profit above expectations on Wednesday, driven by sales of its diabetes care devices and an improved demand for other devices due to a resumption in non-urgent medical procedures. Improvement in staffing levels at hospitals across the United States, along with the easing of pandemic restrictions in various countries were expected to aid in the recovery of procedure volumes, and in turn, help Abbott and other […]

By Elizabeth Howcroft and Hannah Lang LONDON (Reuters) – Crypto firms have been left scrambling to find banking partners after the collapse of three crypto-friendly lenders in the U.S. last month, creating a risk their business will become concentrated in smaller financial institutions. It is a scenario that concerns U.S. regulators, who have expressed doubt about the safety and soundness of bank business models that are highly focused on crypto […]

By Clara Denina and Yadarisa Shabong LONDON (Reuters) -Glencore has told Teck Resources shareholders it is willing to improve its $22.5 billion takeover offer, raising pressure on the Canadian miner to ditch a restructuring plan and sit down at the negotiating table. In an open letter on Wednesday, Glencore said it would consider taking the offer to Teck’s shareholders directly if the board failed to engage. The Swiss miner and […]

By Soyoung Kim, Ju-min Park and Hyonhee Shin SEOUL (Reuters) – South Korea might extend its support for Ukraine beyond humanitarian and economic aid if it comes under a large-scale civilian attack, President Yoon Suk Yeol said, signalling a shift in his stance against arming Ukraine for the first time. In an interview with Reuters ahead of his state visit to the U.S. next week, Yoon said his government has […]