• Reuters

    UPDATE 1-Australia's central bank holds interest rates, vigilant on inflation risks

    Australia's central bank held interest rates for a fourth straight meeting on Tuesday, while noting inflation was easing more gradually than hoped and that it was vigilant to upside price pressure risks. However, it stopped short of reinstating a tightening bias as some economists had expected after first quarter inflation and the labour market failed to cool as much as expected. "Recent data indicate that, while inflation is easing, it is doing so more slowly than previously expected and it remains high," said the RBA in a statement, adding that it would remain vigilant to upside risks.

  • Reuters

    UBS reports first profit since taking over Credit Suisse

    UBS reported net income of $1.8 billion for January-March, its first quarterly profit since it took over fallen rival Credit Suisse. The net income attributable to shareholders for Switzerland's largest bank was better than a company-provided consensus estimate of $602 million and compares with a profit of $1 billion in the same period a year earlier. UBS also said on Tuesday that it had achieved an additional $1 billion in gross cost savings in the first quarter, taking total savings to $5 billion.

  • The Canadian Press

    Jamal Murray tosses heat pack, Michael Malone screams at officials as Nuggets frustrated in Game 2

    DENVER (AP) — Nuggets guard Jamal Murray lost his cool on the bench and tossed a heat pack onto the court. Denver's frustration was on full display in the first half of Game 2 on Monday night against the Minnesota Timberwolves. The Wolves applied the pressure and the defending champion Nuggets lost their temper, trailing by as many as 28 points in the second quarter. Sitting on the bench, Murray was seen on video tossing a heat pack toward the court after layup by Karl-Anthony Towns. There wasn'