South Korea's state-run think tank raises GDP, inflation forecasts
SEOUL (Reuters) - South Korea's state-run think tank on Thursday raised its economic growth forecast for this year and said inflation is expected to ease at a slightly slower pace, as it noted the need for gradual easing of monetary policy. In its ...
2h ago
China property shares in HK jump on report of government plans to buy unsold homes
HONG KONG (Reuters) - Shares of Chinese property developers in Hong Kong jumped on Thursday, after a report that China is considering a plan for local governments nationwide to buy millions of unsold homes from distressed companies to ease a protra...
2h ago
Australian jobless rate rises in April, erasing risk of rate hike
By Wayne Cole SYDNEY (Reuters) - Australian employment rose by more than expected in April, data showed on Thursday, but the jobless rate still climbed to a three-month top as the growth in workforce outpaced job creation. The jump in unemployment ...
2h ago
China's Nio aims to launch one new car model per year under Onvo brand
SHANGHAI (Reuters) - Chinese electric vehicle maker Nio said on Thursday it will launch one new car model per year under the Onvo brand and will have a second model targeting larger families coming up next. Nio executives were speaking a day after ...
3h ago
Asia rides Wall St rally, dollar sags on US inflation relief
By Kevin Buckland TOKYO (Reuters) - Asian stock markets rallied on Thursday, buoyed by Wall Street's surge to all-time peaks overnight after a milder U.S. inflation report raised expectations the Federal Reserve will deliver at least two rate cuts ...
3h ago
Exclusive-Anglo American freezes hiring globally after strategy revamp, document shows
By Scott Murdoch and Melanie Burton SYDNEY (Reuters) -Anglo American has frozen hiring globally after its pledge this week to simplify the miner that is the target of a $43 billion bid by Australia's BHP, according to an internal memo issued by Anglo a...
3h ago
Dollar sags as slower US inflation boosts rate cut expectations
By Tom Westbrook SINGAPORE (Reuters) - The dollar skidded to multi-month lows on Thursday after U.S. core inflation hit its slowest in three years and retail sales turned flat, which pulled forward expectations for rate cuts in the world's biggest ...
4h ago
Thai Q1 economic growth likely muted as exports, demand falter - Reuters poll
By Anant Chandak BENGALURU (Reuters) - Growth in Thailand's economy was likely subdued in the quarter through March despite solid tourist arrivals, hampered by weak exports and domestic demand, a Reuters poll of economists found. High household deb...
4h ago
Argentina's economy chief: talks to begin with IMF over new debt deal -local media
BUENOS AIRES (Reuters) - Argentine Economy Minister Luis Caputo said on Wednesday that talks with the International Monetary Fund (IMF) over a new debt program will begin shortly in comments to local broadcaster La Nacion+. "We're just going to sta...
4h ago
Oil prices rise on moderate US inflation data, strong demand
By Katya Golubkova TOKYO (Reuters) - Oil prices extended gains from the previous session on Thursday on signs of stronger demand in the U.S. where data showed slower inflation than markets expected, strengthening the argument for an interest rate c...
4h ago
Chile gives Albemarle option to boost lithium quota by 240,000 metric tons
SANTIAGO (Reuters) - Chile's economic development agency CORFO on Wednesday said it reached an agreement with Albemarle to establish an option for the U.S. company to increase its production quota by 240,000 metric tons of lithium metal equivalent ...
5h ago
Japan's GDP contracts, complicating BOJ's rate hike plans
By Satoshi Sugiyama and Tetsushi Kajimoto TOKYO (Reuters) - Japan's economy contracted in the first quarter, squeezed by weaker private consumption and external demand and throwing a fresh challenge to policymakers as the central bank looks to lift...
5h ago
Hedge fund Coatue scraps its Apple stake in Q1, while Viking built its position
By Carolina Mandl NEW YORK (Reuters) - Hedge fund Coatue Management dissolved its stake in Apple Inc in the first quarter while Viking Global Investors built a sizeable new position, securities filings showed on Wednesday. Coatue, founded by Phi...
5h ago
Norway sovereign wealth fund excludes three companies over ethical concerns
(Reuters) -Norway's central bank said on Wednesday that its executive board has decided to exclude three companies from its government pension fund over ethical concerns. Norges Bank, which manages the sovereign wealth fund, said in a statement it has ...
6h ago
IBM to add 800 AI-related jobs in Ireland
DUBLIN (Reuters) - IBM plans to hire up to 800 more people in Ireland to help build advanced software underpinned by AI technology, the biggest job announcement in the country's multinational sector this year, state investment agency IDA Ireland sa...
6h ago
Soros Fund Management dissolves stake in NYCB, buys Goldman Sachs shares
(Reuters) - Soros Fund Management has dissolved its share stake in embattled lender New York Community Bancorp in the first quarter of 2024, a regulatory filing showed on Wednesday. The family office of billionaire George Soros previously held abou...
6h ago
Trump Media says it will delay quarterly filing due to auditor change
(Reuters) - Trump Media & Technology filed a notice to the U.S. Securities and Exchange Commission on Wednesday that it would delay its quarterly filing as it recently replaced its auditor after the regulator had charged the auditor with "fraud". F...
6h ago
Bitcoin ETFs drew bets from Millenium Global, Wisconsin Retirement System in Q1
By Suzanne McGee and Hannah Lang (Reuters) -A handful of hedge funds, including Millennium Management LLC, and other asset managers are among the institutions that acquired stakes in the recently launched U.S. exchange-traded funds (ETFs) tied to the p...
6h ago
Berkshire reveals $6.72 billion stake in insurer Chubb
By Jonathan Stempel (Reuters) - Warren Buffett's Berkshire Hathaway on Wednesday revealed a new, $6.72 billion stake in the insurer Chubb, ending months of speculation that it had made a big new investment. In a regulatory filing describing its U.S...
7h ago
Disney to dramatically cut spending for traditional TV networks
By Lisa Richwine (Reuters) - Walt Disney will cut its investment in programming for traditional television networks pretty dramatically as the company navigates the consumer shift to streaming, Chief Executive Bob Iger said on Wednesday. Iger said ...
7h ago
Kansas City Fed sets Jackson Hole conference dates Aug 22-24
(Reuters) - The Federal Reserve Bank of Kansas City on Wednesday said its annual central banking conference in Jackson Hole, Wyoming, will take place from Aug. 22-24. The event, one of the premier global central bank gatherings of the year, which t...
7h ago
AT&T, AST SpaceMobile tie up to provide space-based broadband network
(Reuters) - Telecom giant AT&T has entered an agreement with AST SpaceMobile to provide a space-based broadband network direct to cell phones, the companies said on Wednesday. Shares of AST SpaceMobile shot up nearly 49% in extended trading. (Repo...
8h ago
Cisco forecasts upbeat fourth-quarter revenue on enterprise demand
(Reuters) -Cisco Systems forecast fourth-quarter revenue above Wall Street estimates on Wednesday as the network equipment maker benefits from a pick up in enterprise spending and easing supply chain constraints. The company's shares rose 5% in trading...
8h ago
US to issue rules on Chinese connected vehicles this fall
WASHINGTON (Reuters) - U.S. Commerce Secretary Gina Raimondo said on Wednesday that her department plans to issue proposed rules on Chinese connected vehicles this fall, citing national security risks to Americans' data. Raimondo said last week the...
9h ago
Tyson Foods unsure when tight US cattle supplies will expand, CEO says
By Tom Polansek CHICAGO (Reuters) - Tyson Foods cannot predict exactly when U.S. ranchers will start rebuilding the cattle herd in a meaningful way, CEO Donnie King said on Wednesday, as tight supplies squeeze the meatpacker's beef business. Produc...
9h ago