Explainer-What S&P's ratings downgrade means for France
By Leigh Thomas PARIS (Reuters) - Standard & Poor's (S&P) decision to downgrade its rating on France's sovereign debt should in the short term deliver more political sting than pain in financial markets. Days ahead of a June 9 EU parliamentary elec...
20h ago
Russia eases forex sales requirements for contracts in roubles
MOSCOW (Reuters) - The Russian government has softened requirements for mandatory sales of foreign currency for exporters if more than half of the value of their contracts is paid in roubles, according to changes to a government decree. President V...
Jun 01, 2024
DR Congo central bank keeps policy rate at 25%
(Reuters) - Democratic Republic of Congo's central bank decided at a meeting of its monetary policy committee on Friday to keep its policy rate unchanged at 25%, the bank said in a statement. (Reporting by Bate Felix; Writing by Alessandra Prentic...
Jun 01, 2024
American Airlines faces strike threat as union negotiations stall
(Reuters) - A union representing flight attendants for American Airlines Group Inc on Friday asked workers to prepare for strike action after contract negotiations with the carrier failed to produce an agreement. "We remain apart on the key economi...
Jun 01, 2024
China's new home prices inch up for 9th month in May, survey shows
SHANGHAI (Reuters) - New home prices in China rose slightly for a ninth month in May, a private survey showed, driven higher by a slew of supportive steps to prop up the nation's crisis-hit property sector. The average new home price across 100 cit...
Jun 01, 2024
South Korea exports rise for eighth month, growth slows slightly
SEOUL (Reuters) - South Korea's exports rose for an eighth straight month in May, led by robust chip sales though overall growth in shipments lagged market expectations, trade data showed on Saturday. Overseas sales by Asia's fourth-largest economy...
Jun 01, 2024
Tesla shareholder sues Musk for alleged $7.5 billion insider trading
(Reuters) - A Tesla shareholder filed a lawsuit on Thursday accusing CEO Elon Musk of insider trading when he sold over $7.5 billion of shares of the electric car maker in late 2022, saying the billionaire entrepreneur sold the shares before potent...
Jun 01, 2024
Live Nation probing Ticketmaster hack amid user data leak concerns
By Zeba Siddiqui SAN FRANCISCO (Reuters) - Live Nation Entertainment said on Friday it was investigating a data breach at its Ticketmaster unit that it discovered on May 20, the latest in a string of high-profile corporate hacks in the past year. I...
Jun 01, 2024
Amid bankruptcy process, Brazil airline Gol swaps finance chief
SAO PAULO (Reuters) - Brazilian airline Gol announced on Friday that its board elected Eduardo Gotilla as its new chief financial officer, while also posting preliminary results for April including net debt of $4.5 billion as part of the carrier's ...
May 31, 2024
Major US airlines will not commit to boosting military travel benefits, USDOT says
By David Shepardson WASHINGTON (Reuters) - Transportation Secretary Pete Buttigieg on Friday said major U.S. airlines had declined to commit to boosting travel benefits for military personnel, the latest clash between the Biden administration and t...
May 31, 2024
Meta's Facebook says it is attracting most young adults in 3 years
By Katie Paul NEW YORK (Reuters) - Meta said on Friday its flagship app Facebook is attracting its highest number of young adults in three years, as it tries to shake the platform's reputation as a hangout for an older generation. The social media ...
May 31, 2024
UK public's 12-month inflation outlook falls to 3.1% -Citi/YouGov
LONDON (Reuters) - The British public's expectations for inflation over the next year fell to 3.1% in May, the lowest level since July 2021, a monthly Citi/YouGov survey said on Friday. Expectations for inflation five to 10 years ahead fell sharply...
May 31, 2024
US lawmakers ask FBI for briefing on GenScript Biotech's links to China
By Karen Freifeld (Reuters) - The U.S. House of Representatives committee on China has asked the FBI and the intelligence community for a briefing on GenScript Biotechnology Co and three subsidiaries to determine if the Chinese Communist Party has ...
May 31, 2024
Struggling Dow transport stocks could be economic warning signal
By Lewis Krauskopf NEW YORK (Reuters) - It's been a banner year for the major U.S. stock indexes, but one economically sensitive corner of the market sticks out as a sore spot. The Dow Jones Transportation Average has fallen about 5% so far this ye...
May 31, 2024
Fitch Ratings lowers Boeing 2024 aircraft delivery, cash flow forecasts
(Reuters) - Fitch Ratings lowered its 2024 forecasts for Boeing's aircraft delivery and free cash flow on Friday as the planemaker grapples with investigations and slumping production of its strongest-selling jet. "The delivery forecasts were affec...
May 31, 2024
Pakistan growth target 3.6% next year, inflation to dip to 12%, ministry says
(Reuters) - Pakistan's Planning Ministry said on Friday that the economic outlook for the next year was positive, with a growth target of 3.6%, while inflation was likely to moderate to 12%. Pakistan will present its annual budget on June 10, three...
May 31, 2024
Paramount's special committee agrees to recommend Skydance deal, WSJ reports
(Reuters) - A special committee of the Paramount Global's board agreed to recommend a deal with Skydance Media, the Wall Street Journal reported on Friday, citing people familiar with the matter. A potential deal could end months of speculation ove...
May 31, 2024
Factbox-Who is Kimbal Musk, the Tesla director in cowboy hat?
(Reuters) - Tesla shareholders will vote on June 13 to ratify CEO Elon Musk's $56 billion pay package that was voided by a Delaware judge in January. Also coming up is the re-election of directors, including Musk's younger brother, Kimbal. Usual...
May 31, 2024
Paramount Global's co-CEOs to host town hall on Wednesday
By Dawn Chmielewski LOS ANGELES (Reuters) - Paramount Global's co-CEOs will host a town hall for its staff on June 5, according to an email seen by Reuters on Friday. A trio of Paramount executives were appointed to the office of the CEO on April 2...
May 31, 2024
Carl Icahn has sizable stake in Caesars Entertainment, Bloomberg News reports
(Reuters) - Activist investor Carl Icahn has a sizable position in casino operator Caesars Entertainment, Bloomberg News reported on Friday citing sources familiar with the matter. Shares of the company jumped 15% after the report. The size of Icah...
May 31, 2024
US refiners boosting fuel output past 90% of capacity for summer driving season
By Erwin Seba and Nicole Jao HOUSTON (Reuters) - U.S. crude oil refiners aim to operate above 90% of their combined processing capacity for the remainder of the quarter after completing planned overhauls, said analysts contacted by Reuters. Strong ...
May 31, 2024
Nvidia set to overtake Apple as world's second-most valuable company
By Medha Singh (Reuters) - Nvidia could soon surpass Apple to become the world's second-most valuable company, as the kingmaker behind the AI revolution takes on the iPhone maker that has ruled Wall Street for decades. The reliance of virtually all...
May 31, 2024
Fed seen more likely to cut rates in Sept after PCE data
(Reuters) - The Federal Reserve is more likely to deliver a long-awaited rate cut in September after a U.S. Commerce Department report showed inflation made a bit of progress toward the Fed's 2% goal last month and spending softened, traders expec...
May 31, 2024
Move to faster settlements for US securities has gone smoothly, SEC chair says
NEW YORK (Reuters) - The overhaul of the settlement cycle for U.S. securities has gone smoothly this week, with all trades having settled, U.S. Securities and Exchange Commission Chair Gary Gensler said on Friday. U.S. trading of equities, corporat...
May 31, 2024
European shares rise after US, euro zone inflation prints
By Shubham Batra (Reuters) - European shares climbed on Friday after softer U.S. inflation data spurred hopes of interest rates cuts by the Federal Reserve, while June rate cut bets for euro zone remained intact despite hotter-than-expected inflat...
May 31, 2024