News
Important Only
Stocks
3M beats first-quarter estimates, flags potential tariff hit on 2025 profit
By Aishwarya JainApril 22 (Reuters) - U.S. industrial conglomerate 3M Co MMM.N on Tuesday beat Wall Street expectations for first-quarter profit on cost cutting, sending its shares up 7% even as it warned of a potential hit to 2025 earnings from trade tensions.Bill Brown, who succeeded Mike Roman as...Reuters
Tue, Apr 22
Other
AM Best: Surplus lines stamping office DPW grows 12% to $81.6 billion in 2024
By Chris MunroApril 22 - (The Insurer) - The 15 surplus lines state service and stamping offices collectively booked premium volume growth of 12.1% to $81.6 billion in 2024 as continued challenges in certain standard market segments continued to push business into the channel, a new report from AM B...Reuters
Tue, Apr 22
Commodities
US Cash Grains-Spot soybean basis steady-firm, corn bids mixed
CHICAGO, April 22 (Reuters) - Spot basis bids for soybeans rose on Tuesday at U.S. Midwest processing plants and river elevators and held mostly steady at interior elevators as buyers sought to drum up farmer sales to replenish near-term supplies, grain dealers said.* Spot corn basis bids were mixed...Reuters
Tue, Apr 22
Economic Indicator
Euro zone bonds outshine U.S. Treasuries amid Trump's Fed rebuke
U.S.-German 10-yr spread set for biggest monthly rise since 2003German 2-year bund yields drop to lowest since October 2022By Yadarisa Shabong April 22 (Reuters) - Euro zone government bond yields dipped on Tuesday, continuing to outperform U.S. Treasuries, as traders sought the safety of Europea...Reuters
Tue, Apr 22
Other
Polo backs launch of Cat 6 Guernsey reinsurer Navigate Re
By Ryan HewlettApril 22 - (The Insurer) - Guernsey-based Polo Insurance Managers (PIM), the independent insurance manager of PoloWorks, has launched the Category 6 reinsurer Navigate Re.Navigate Re operates as a Category 6 Special Purpose Entity and has been formed to offer its investors access to i...Reuters
Tue, Apr 22
Commodities
Elliott holds 5.006% of BP, regulatory notice of holdings shows
LONDON, April 22 (Reuters) - Activist hedge fund Elliott holds 5.006% of voting rights in BP BP.L, a regulatory notice of holdings showed on Tuesday.People with knowledge of the matter had previously put Elliott's stake at near 5%.Reaching or crossing that level requires reporting the shareholdi...Reuters
Tue, Apr 22
Stocks
EMERGING MARKETS-Latam assets rise tracking higher commodity prices; focus on Trump's Fed critique
Latam stocks up 1.6%; FX up 0.7%IMF cuts GDP growth estimates for Mexico, BrazilArgentina's surprise peso strength tempers fears of inflation comebackBy Pranav Kashyap and Johann M Cherian April 22 (Reuters) - Currencies and stocks of most resources-rich Latin American economies rose on Tuesd...Reuters
Tue, Apr 22
Stocks
Oil stocks gain as equity markets rebound
** S&P 500 energy index up 1.7%, tracking prices of oil O/R** Brent crude futures LCOc1 up 0.9% at $66.85/barrel and U.S. West Texas Intermediate crude CLc1 rises 1% to $63.75/ barrel ** Oil prices rise as equity markets rebound, though concerns persist over economic headwinds from tariffs and ...Reuters
Tue, Apr 22
Other
Arkema Obtains ISCC PLUS Certification For UV-LED-EB Resin Production
April 22 (Reuters) - Arkema SA AKE.PA:OBTAINS ISCC PLUS CERTIFICATION FOR UV-LED-EB RESIN PRODUCTIONCAN NOW OFFER BIO-ATTRIBUTED ENERGY-CURABLE SOLUTIONS FROM THEIR UV-LED-EB RESIN PRODUCTION FACILITIES WORLDWIDEReuters
Tue, Apr 22
Cryptocurrencies
The question of ‘who owns US Treasury?’ surges amid recent market turmoil
The ownership of the US Treasury market has taken center stage under market volatility and investor uncertainty, buoyed by US President Donald Trump’s tariff policies. The US 10-year Treasury note yield stood at 4.41% on Tuesday, April 22, based on over-the-counter interbank quotations for the benchmark government bond. Global investors are interested in who holds […]Cryptopolitan
Tue, Apr 22
Stocks
Brokerages slash S&P 500 annual targets, GDP forecasts on tariff turmoil
April 22 (Reuters) - Analysts expect U.S. President Donald Trump's tariffs to weaken global economic growth, fuel volatility in markets and raise inflationary pressures. Last week, Jefferies slashed its S&P 500 annual target .SPX to 5,300, the lowest on Wall Street, from its previous forec...Reuters
Tue, Apr 22
Other
Elevance says healthcare demand tracks expectations after UnitedHealth's forecast cut
Elevance says Medicare Advantage costs elevated but manageableElevance maintains full-year annual profit forecast By Sneha S K and Amina Niasse April 22 (Reuters) - U.S. health insurer Elevance Health ELV.N spent less than expected on medical care in the first quarter and said on Tuesday th...Reuters
Tue, Apr 22
Stocks
Northrop Grumman cuts 2025 profit forecast on B-21 headwinds, shares slump
By Utkarsh Shetti and Mike Stone April 22 (Reuters) - Northrop Grumman NOC.N cut its annual profit forecast after it posted a 49% slump in first-quarter earnings on Tuesday, as it booked losses on its B-21 stealth bomber program due to higher costs, sending its shares down 12%.The company also mi...Reuters
Tue, Apr 22
Other
European first-quarter corporate profits seen falling 3.5% amid incessant uncertainty
April 22 (Reuters) - The outlook for European corporate health continues to deteriorate, according to analysts' forecasts published on Tuesday, as economic uncertainty persists around U.S. tariffs and other policies.European companies are expected to report a drop of 3.5% in first-quarter earnin...Reuters
Tue, Apr 22
Other
Mexico's president says she disagrees with IMF's negative growth forecast
MEXICO CITY, April 22 (Reuters) - Mexican President Claudia Sheinbaum said on Tuesday that she does not agree with the International Monetary Fund's forecast that her country's economy will contract 0.3% this year. "We do not know what it is based on. We do not agree ... We have our econ...Reuters
Tue, Apr 22
Other
Financial firm Altruist fetches nearly $2 billion valuation in latest funding round
April 22 (Reuters) - Financial startup Altruist was valued at $1.9 billion in its latest funding round, it said on Tuesday. The company is a custodian for registered investment advisors, assuming the responsibility for maintaining the assets and holdings of its clients.Reuters
Tue, Apr 22
Other
Russian defence ministry says no casualties in fire at military unit, RIA reports
MOSCOW, April 22 (Reuters) - The Russian defence ministry said on Tuesday that a fire at a military unit in the Vladimir region was caused by a breach in safety requirements and that preliminary information showed there were no casualties, the RIA state news agency reported.The fire had resulted in ...Reuters
Tue, Apr 22
