SHANGHAI (Reuters) – Increasingly divergent monetary policies between China and the United States would help rein in an excessive rise in the yuan by reducing foreign money inflows, a former Chinese forex regulator said on Wednesday. The U.S. Federal Reserve is widely expected to accelerate monetary tightening to tame inflation this year, while the People’s…
(Reuters) – CNN executive Allison Gollust has resigned from the company following an internal investigation that found violations of policy by her and others, WarnerMedia Chief Executive Jason Kilar said in a memo to staff, which was seen by Reuters on Tuesday. Her departure is the latest move after a network investigation into the conduct…
(Refiles to add media packaging code) (Reuters) -Australia’s Liontown Resources said on Wednesday it signed a five-year agreement with Tesla to supply lithium spodumene concentrate to the electric carmaker, sending the lithium miner’s shares up nearly 20%. Tesla will buy 100,000 dry metric tonnes (DMT) of the concentrate in the first year starting 2024, increasing…
By Chris Prentice WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) is probing whether financial executives may have broken the rules by tipping off hedge funds ahead of large sales of shares, known as “block trades,” according to a source with knowledge of the matter. The Wall Street Journal first reported the probe…
(Reuters) – Australia’s Fortescue Metals, the world’s fourth-largest iron ore miner, on Wednesday said first-half profit tumbled a third on higher material and labour costs and lowered its interim dividend, sending its shares more than 4% lower. Fortescue said costs for the half jumped by a fifth. Australian miners have been burdened by a shortage…
By Prerana Bhat BENGALURU (Reuters) – The U.S. Federal Reserve will kick off its tightening cycle in March with a 25-basis-point interest rate rise, a Reuters poll of economists found, but a growing minority say it will opt for a more aggressive half-point move to tamp down inflation. While inflation is rising across the globe,…
By David Shepardson and Eric M. Johnson WASHINGTON (Reuters) -The U.S. Federal Aviation Administration (FAA) on Tuesday said it would perform final inspections on new Boeing 787 Dreamliner aircraft, and will not allow the planemaker to self-certify the jets. The U.S. aviation regulator said it notified Boeing of the decision that it will retain the…
SACRAMENTO, Calif. (AP) — Two California Democratic lawmakers took separate aim Tuesday at pandemic disinformation they argue receives a broad audience and misplaced credibility through social media platforms — rejecting concerns that their legislation might carry free speech or business privacy considerations. Sen. Richard Pan’s proposal, which still is being finalized, would require online platforms…
Airbnb reported a $55 million profit for the fourth quarter, reversing a huge loss a year earlier, as its revenue soared above pre-pandemic levels. The San Francisco-based short-term-stay company said bookings surged in small and towns and rural areas, and improved even in urban areas, which were hit hardest earlier in the pandemic. Airbnb hosts…
(Reuters) – Meta Platforms Inc said on Tuesday it had closed its acquisition of Kustomer, a U.S. customer service startup, after winning conditional EU antitrust approval for the deal last month. The purchase was first announced in November 2020 but got delayed due to regulatory scrutiny including a full-scale investigation from the European Commission. The…
