Reuters

By Nupur Anand

NEW YORK (Reuters) - JPMorgan Chase said its Russia assets may be seized after lawsuits in Russian and U.S. courts, the bank said in a filing on Wednesday.

The value of claims and orders to freeze assets exceed JPMorgan's available assets in Russia, the largest U.S. lender said.

The bank faces several legal challenges over its dealings in the country, where several lenders are subject to economic sanctions... (continue reading...)

(Reuters) - Exxon Mobil is set to close its $60 billion deal for Pioneer Natural Resources following an agreement with antitrust enforcers to not add Pioneer CEO Scott Sheffield to its board, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

The Federal Trade Commission is set to allege as soon as Wednesday that Sheffield engaged in collusive activity that could have raised the price of oil, according to the... (continue reading...)

(Reuters) - Etsy missed Wall Street expectations for first-quarter gross merchandise sales (GMS) and profit on Wednesday, hurt by lower demand for its handcrafted goods and personalized gifts at its online marketplace.

WHY IS IT IMPORTANT?

Despite Etsy ramping up spending over the past quarters on promotions and advertising, it struggled to keep up with larger retailers in attracting bargain-hungry customers.

It is also... (continue reading...)

OTTAWA (Reuters) - The Bank of Canada is getting closer to being able to start cutting interest rates from their current 23-year highs, Governor Tiff Macklem said on Wednesday.

In opening remarks to the Senate banking committee, Macklem said: "We are seeing what we need to see, but we need to see it for longer to be confident that progress toward price stability will be sustained".

(Reporting by Promit Mukherjee, editing by David Ljunggren)

(Reuters) - A Russian ballistic missile struck the Ukrainian port of Odesa late on Wednesday, injuring at least 13 people and triggering a large fire, Regional Governor Oleh Kiper said on Telegram.

Pictures and video posted on media Telegram channels showed flames at the site and large clouds of smoke billowing skywards.

One media channel said the warehouse of Nova Poshta, a large postal and courier company, had been hit and posted a... (continue reading...)