By David Lawder WASHINGTON (Reuters) – The $350 billion in coronavirus relief funds for state and local governments has allowed U.S. cities to respond stronger and more nimbly to an ever changing COVID-19 pandemic, U.S. Treasury Secretary Janet Yellen said on Wednesday. In remarks prepared for delivery to a meeting of the U.S. Conference of…
(This November 14 story corrects headline, paragraph 1 to say contracts put on hold, not paused imports) KUALA LUMPUR (Reuters) – Canada has put on hold its contract with Malaysian glove maker Supermax Corp as it awaits the results of an audit, weeks after the United States barred the firm over allegations the company uses…
By Daniel Leussink TOKYO (Reuters) – Asia’s share markets struggled on Wednesday as U.S. Treasury yields hit fresh two-year highs and a global technology stock sell-off unsettled investors worrying about inflation and bracing for tighter U.S. monetary policy. Oil prices hit their highest since 2014 amid an outage on a pipeline from Iraq to Turkey…
By Sonali Paul MELBOURNE (Reuters) – Oil prices rose for a fourth day to a seven-year high as an outage on a pipeline from Iraq to Turkey increased concerns about an already tight supply outlook amid worrisome geopolitical troubles in Russia and the United Arab Emirates. Brent crude futures rose $1.44, or 1.7%, to $88.95…
By Subrat Patnaik and Supantha Mukherjee (Reuters) – Microsoft Corp is buying “Call of Duty” maker Activision Blizzard for $68.7 billion in the biggest gaming industry deal in history as global technology giants stake their claims to a virtual future. The deal announced by Microsoft on Tuesday, its biggest-ever and set to be the largest…
By Tim Hepher and David Shepardson (Reuters) -Major international airlines rushed on Tuesday to rejig or cancel flights to the United States on the eve of a 5G wireless rollout that triggered safety concerns, despite two wireless carriers saying they will delay parts of the deployment. The Federal Aviation Administration (FAA) has warned that potential…
TOKYO (Reuters) – Shares in Japan’s Sony Group were untraded with a glut of sell orders on Wednesday after gaming rival Microsoft said it will buy developer Activision Blizzard in a record $68.7 billion deal. (Reporting by Sam Nussey; Editing by Muralikumar Anantharaman)
(Reuters) -Ford Motor Co said on Tuesday its fourth-quarter results would include an $8.2 billion gain on its investment in Rivian Automotive Inc, following the electric-vehicle maker’s blockbuster market debut in November. Rivian had soared as much as 53% to cross $100 billion in the biggest initial public offering of 2021, but the company’s shares…
By David Shepardson WASHINGTON (Reuters) – AT&T and Verizon Communications on Tuesday agreed to temporarily defer turning on some wireless towers near key airports to avert a significant disruption to U.S. flights. President Joe Biden hailed the agreement, saying it “will avoid potentially devastating disruptions to passenger travel, cargo operations, and our economic recovery, while…
(Reuters) -Australia’s Lynas Rare Earths Ltd posted record second-quarter revenue on Wednesday, as demand for metals used in electric vehicles (EVs) grew amid a global push for reducing carbon emissions. The prices of neodymium and praseodymium (NdPr), widely used to make magnets that power EV motors, have nearly tripled over the past 14 months, as…
