British newspaper groups warn Apple over ad-blocking plans, FT reports
(Reuters) -British newspaper groups have warned Apple that any move to impose a so-called "web eraser" tool to block advertisements would put the financial sustainability of journalism at risk, the Financial Times reported on Sunday. Apple is preparing...
10h ago
France wins jobs at Morgan Stanley and other investments ahead of key summit
By Sudip Kar-Gupta PARIS (Reuters) - France said Morgan Stanley would open a new European office in Paris, while two other companies announced a combined investment worth 700 million euros ($753.8 million), as the country prepared to host a key ann...
10h ago
Australia says inflation could ease to RBA target range by year end
SYDNEY (Reuters) - Australia's government, preparing to announce the federal budget, said on Sunday inflation could moderate to the central bank's 2%-3% target range by the end of the year, a faster easing than predicted in December. The Labor gove...
12h ago
Pfizer and AstraZeneca announce new investments of nearly $1 billion in France
PARIS (Reuters) - Leading healthcare companies Pfizer and AstraZeneca announced on Sunday new investments in France worth a total of nearly $1 billion, ahead of the start of this year's annual 'Choose France' business summit. Pfizer said it would i...
13h ago
German aviation company Lilium and Swiss firm to open new sites in France
PARIS (Reuters) - German aviation firm Lilium and Swiss-based nickel refinery company KL1 will set up new sites in France representing a combined investment of 700 million euros ($753.83 million), French Finance Minister Bruno Le Maire said on Sund...
20h ago
China's ICBC to kick off TLAC bond sales with issuance of $4.15 billion
BEIJING (Reuters) - Industrial and Commercial Bank of China said it would issue 30 billion yuan ($4.15 billion) worth of total loss-absorbing capacity (TLAC) bonds on May 15, marking the first issuance of such bonds by a Chinese bank. China's major...
22h ago
Australia government says budget to help ease high inflation
SYDNEY (Reuters) - Australian Treasurer Jim Chalmers said on Sunday he expected this week's federal budget would help ease the country's stubbornly high inflation, as many Australians continue to grapple with cost-of-living pressures. "We do expect...
23h ago
Apple's New Jersey store workers vote against unionizing, Bloomberg reports
(Reuters) - Workers at Apple's store in Short Hills, New Jersey, have voted against unionizing, Bloomberg News reported on Saturday. (Reporting by Gnaneshwar Rajan in Bengaluru; Editing by William Mallard)
May 12, 2024
Arm Holdings plans to launch AI chips in 2025, Nikkei reports
(Reuters) - SoftBank Group's Arm Holdings plans to develop artificial-intelligence chips, seeking to launch the first products in 2025, Nikkei Asia reported on Sunday. UK-based Arm will set up an AI chip division and aim to build a prototype by spr...
May 11, 2024
Chinese companies win licensing bids to explore Iraq oil and gas fields
By Moayed Kenany, Timour Azhari and Adam Makary BAGHDAD (Reuters) -Chinese companies won bids to explore five Iraqi oil and gas fields on Saturday in a licensing round for hydrocarbon exploration that was primarily aimed at ramping up gas production fo...
May 11, 2024
In the Market: Financiers fret over 'leverage on leverage' in private credit
By Paritosh Bansal (Reuters) - To some elite financiers who gathered in Los Angeles for the Milken Institute conference, a debt binge in private markets is reminding them of the go-go days of risk-taking before the 2008 financial crisis. In the hal...
May 11, 2024
China's Country Garden repays onshore coupons within grace period
BEIJING (Reuters) - Embattled Chinese property developer Country Garden said in a statement on Saturday it had repaid two onshore bond coupons before the expiry of a five-day grace period, following missed payments last week. Country Garden, which ...
May 11, 2024
Starlink experiencing degraded service, Musk says satellites under pressure
(Reuters) - Starlink, the satellite unit of Elon Musk's SpaceX, is experiencing a degraded service, its website showed on Saturday, adding that the team is investigating the issue. Musk in a post on X earlier said that Starlink satellites were unde...
May 11, 2024
China's consumer prices rise for third month, factory deflation persists
BEIJING (Reuters) -China's consumer prices rose in April for a third straight month, while producer prices extended declines, suggesting resilient domestic demand, despite a shaky economic recovery. The closely watched numbers follow official surveys s...
May 11, 2024
US to hold auctions to sell airline warrants received during COVID bailouts
By David Shepardson WASHINGTON (Reuters) -The U.S. Treasury Department said on Friday it planned to conduct a series of auctions to sell the warrants to purchase stock in U.S. airlines that it received after Congress approved $54 billion in COVID-19 ai...
May 10, 2024
US judge blocks rule capping credit card late fees at $8
By Nate Raymond (Reuters) -A federal judge in Texas on Friday blocked the Consumer Financial Protection Bureau's new rule for an $8 cap on credit card late fees, a victory for business and banking groups that said the regulator exceeded its authority. ...
May 10, 2024
Cuba accuses online news site of US-backed plot to sabotage economy
HAVANA (Reuters) - Cuba's government and independent online news site El Toque exchanged blows this week after state-run media accused the website of manipulating the black market currency exchange rate to impoverish Cubans and stoke unrest on the ...
May 10, 2024
Microsoft hit with $242 million US verdict in Cortana patent lawsuit
By Blake Brittain (Reuters) - Microsoft must pay patent owner IPA Technologies $242 million, a federal jury in Delaware said on Friday after determining that Microsoft's Cortana virtual-assistant software infringed an IPA patent. The jury agreed wi...
May 10, 2024
US Treasury's Yellen says Congress should act on nonbank mortgage sector
(Reuters) - U.S. Treasury Secretary Janet Yellen on Friday called for Congress to give regulators more power to oversee the growing nonbank mortgage industry, which she said presented unique risks to financial stability. Yellen spoke during a meeti...
May 10, 2024
Analysis-Tesla's EV charging team layoffs threaten to slow Biden's program to electrify highways
By Abhirup Roy SAN FRANCISCO (Reuters) - Elon Musk's decision to gut Tesla's electric-vehicle charging team is scrambling plans for rolling out new fast-charging stations and may delay President Joe Biden's efforts to electrify U.S. highways. Last ...
May 10, 2024
US Treasury posts $210 billion surplus in April
(Reuters) - The U.S. federal budget surplus in April increased from a year earlier as a boost in tax receipts outpaced a rise in outlays, the Treasury Department said on Friday. The surplus last month was $210 billion, up 19% from the $176 billion ...
May 10, 2024
US CFTC seeks to ban derivatives bets on elections, calamities
By Laura Matthews NEW YORK (Reuters) - The U.S. Commodity Futures Trading Commission (CFTC) on Friday was poised to propose a ban on listed derivatives used to bet on U.S. elections and other major real world events, its chair said. The agency is s...
May 10, 2024
Musk's X Corp loses lawsuit against Israeli data-scraping company
By Jonathan Stempel (Reuters) - A U.S. judge dismissed a lawsuit in which Elon Musk's X Corp accused an Israeli data-scraping company of illegally copying and selling content, and selling tools that let others copy and sell content, from the social...
May 10, 2024
Elon Musk says Tesla will spend $500 million to expand charging network
(Reuters) - Tesla will spend more than $500 million to expand its fast-charging network, CEO Elon Musk said on Friday, days after abruptly laying off employees who were running the business. "That's just on new sites and expansions, not counting op...
May 10, 2024
Investor and philanthropist Jim Simons dies at age 86
(Reuters) - Investor and philanthropist Jim Simons has died at the age of 86 in New York City, the Simons Foundation said in a statement on Friday. (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shailesh Kuber)
May 10, 2024