Asian stocks ease on uncertainty over timing of U.S. rate cuts
By Ankur Banerjee SINGAPORE (Reuters) - Asian stocks inched lower on Friday as traders pondered the near term U.S. monetary policy path after Federal Reserve officials suggested that interest rates may need to stay higher for longer even as inflati...
8h ago
Proxy adviser Glass Lewis urges Hess shareholders accept Chevron takeover offer
By Gary McWilliams HOUSTON (Reuters) - Hess shareholders should vote in favor of Chevron Corp's $53 billion offer at the company's May 28 special meeting, proxy adviser Glass Lewis said on Thursday. The proposed deal terms provides a reasonable val...
9h ago
Dollar set for weekly drop on US slowdown signs
By Tom Westbrook SINGAPORE (Reuters) - The dollar headed for its largest weekly fall versus the euro in two-and-a-half months on Friday as signs of cooling inflation and a softening U.S. economy raised the prospect of rate cuts. The euro is up 0.9%...
9h ago
Oil set for weekly gain on signs of improving demand
By Shariq Khan NEW YORK (Reuters) - Oil prices rose in Asian trading hours on Friday, with global benchmark Brent set for its first weekly increase in three weeks on signs of improving global demand and slowing inflation in top oil consumer the Uni...
9h ago
BOJ has no immediate plan to sell ETF holdings, Governor Ueda says
TOKYO (Reuters) - Bank of Japan Governor Kazuo Ueda said on Friday the central bank had no immediate plan to sell its huge holdings of exchange-traded funds (ETFs). "We must spend some time in deciding what to do with our ETF holdings, including wh...
10h ago
Biden signs sweeping aviation safety, reform bill into law
WASHINGTON (Reuters) - President Joe Biden on Thursday signed sweeping aviation legislation to boost U.S. air traffic controller staffing, increase funding to avert runway close-call incidents and speed refunds for canceled flights. The $105 billio...
11h ago
Union offering Boeing representatives training on U.S. whistleblower laws
(Reuters) - A Boeing engineering union said on Thursday it will offer its representatives training on U.S. whistleblower laws for the first time, following concerns that its members lack adequate protection against possible reprisals. The Society o...
11h ago
Argentine government logged April budget surplus of nearly $20 million
BUENOS AIRES (Reuters) - Argentina achieved a fiscal surplus of 17.4 billion pesos ($19.6 million) for April, the economy minister said on Thursday, marking the fourth successive month that public spending figures were in positive territory under n...
12h ago
Haidilao restaurant operator Super Hi prices US IPO at $19.56 per share
(Reuters) - Super Hi International, which operates Chinese hotpot restaurant chain Haidilao in the overseas market, on Thursday priced its initial public offering in the United States at $19.56 per share. The Chinese restaurant brand raised $52.7 m...
12h ago
AI voiceover company stole voices of actors, New York lawsuit claims
By Blake Brittain (Reuters) - Two voice actors sued artificial-intelligence startup Lovo in Manhattan federal court on Thursday, accusing the company of illegally copying their voices and using them without permission in its AI voiceover technology...
13h ago
OpenAI strikes deal to bring Reddit content to ChatGPT
(Reuters) -Reddit has partnered with OpenAI to bring the social media platform's content to popular chatbot ChatGPT, the companies said on Thursday, sending Reddit's shares up 12% in extended trade. The deal underscores Reddit's attempt to diversify it...
13h ago
NYCB's chief operating officer to step down
(Reuters) - Embattled lender New York Community Bancorp said on Thursday that its Chief Operating Officer Julie-Ann Signorille-Browne has resigned from her role, effective May 24. (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shounak ...
13h ago
Morning Bid: Markets upbeat ahead of China data dump
By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets. Asian markets go into Friday's session looking to end a strong week on a positive note, and there appears to be no obvious reason why the recent upswing should reverse unless i...
13h ago
Ford asks suppliers to cut costs in push to turn EV business profitable, memo says
By Abhirup Roy and Nora Eckert (Reuters) - Ford Motor Co has asked its electric-vehicle suppliers to reduce costs in an attempt to support profitability, saying "everything is on the table," according to a company memo seen by Reuters. Discounts an...
14h ago
Cannabis stocks rally after DOJ proposal to reclassify marijuana
NEW YORK (Reuters) - Cannabis stocks including Tilray, Curaleaf, and the AdvisorShares Pure US Cannabis ETF rallied on Thursday after the U.S. Department of Justice unveiled a historic proposal to ease restrictions on marijuana. Under the proposal,...
15h ago
JPMorgan investors weigh CEO Dimon's strategy, succession after record year
By Nupur Anand NEW YORK (Reuters) - With JPMorgan Chase coming off a year of record profits, investors are eager to learn about the firm's succession plans, investments in artificial intelligence and opportunities beyond traditional banking. Chief ...
15h ago
Dow tops 40,000, Biden trolls Trump in split-screen video
WASHINGTON (Reuters) - The Dow topped 40,000 for the first time on Thursday in an all-time high, giving U.S. President Joe Biden an opening to prove his Republican election rival's 2020 predictions wrong. The state of the U.S. economy looms as one ...
15h ago
China's BYD postpones plans for 2025 Chile lithium cathode plant
(This May 14 story is being republished with no changes to text) MEXICO CITY (Reuters) - Chinese carmaker BYD Co has postponed plans to produce lithium cathodes for electric vehicle (EV) batteries in Chile by 2025, the firm's Americas head told Reu...
16h ago
Analysis-Walmart's strong forecast signals a resilient consumer
By Siddharth Cavale and Aishwarya Venugopal (Reuters) - A positive forecast from retail bellwether Walmart on Thursday signaled a resilient U.S. shopper, in line with earlier remarks by one of its key suppliers and one of its retail rivals. America...
16h ago
Boeing supplier Spirit AeroSystems to lay off employees, spokesman says
(Reuters) - Spirit AeroSystems is laying off several hundred members of its workforce in Wichita, Kan., according to a media report Thursday citing internal documents, as the company deals with high debt and slowed production at Boeing, its key cus...
16h ago
Brazil's government hikes 2024 GDP forecast, sees higher inflation
BRASILIA (Reuters) - Brazil's Finance Ministry on Thursday hiked its projection for the country's economic growth this year but also raised inflation estimates for 2024 and 2025, underlining price impacts from recent floods in Rio Grande do Sul sta...
18h ago
Fed remains cautious on cuts even as data improves
By Howard Schneider WASHINGTON (Reuters) - Data this week offered the U.S. Federal Reserve good news on two fronts but policymakers haven't openly shifted views yet about the timing of rate cuts investors are convinced will start this year. Comment...
18h ago
Anglo American has sought fertiliser partners for months, says CEO
By Clara Denina and Felix Njini LONDON (Reuters) - Anglo American has been looking for partners for its fertiliser project in North Yorkshire for around six months, Chief Executive Duncan Wanblad told Reuters, reiterating the business will be one...
18h ago
IMF says US inflation data 'higher than we would like'
WASHINGTON (Reuters) - The International Monetary Fund on Thursday views recent U.S. inflation data as "overall higher than we would like to see" and is urging the Federal Reserve to stay cautious and remain data-dependent when deciding monetary po...
18h ago
US Supreme Court backs consumer finance watchdog agency's funding mechanism
By John Kruzel WASHINGTON (Reuters) -The U.S. Supreme Court on Thursday upheld the Consumer Financial Protection Bureau's funding mechanism in a challenge brought by the payday loan industry, handing a victory to President Joe Biden's administration an...
18h ago