By Pamela Barbaglia and Anirban Sen LONDON/NEW YORK (Reuters) – Global dealmaking is entering an arid season as raging inflation and a stock market rout curb the appetite of many corporate boards to expand through acquisitions. Russia’s invasion of Ukraine in February and fears that an economic recession is looming dealt a blow to merger…
KUALA LUMPUR (Reuters) – Malaysia is expected to spend 77.3 billion ringgit ($17.6 billion) in subsidies and cash aid this year, the largest amount in history, to help temper the effects of rising prices, its finance minister said on Saturday. Prices of goods have jumped in Malaysia in recent months due to supply chain disruptions,…
LONDON (Reuters) – British public-sector health workers should receive an annual pay rise of 4-5% this year, a government advisory body plans to recommend, according to a report in the Guardian newspaper on Saturday. Surging consumer price inflation, which hit a 40-year high of 9.1% in May, means workers are pushing for bigger than normal…
DHAKA, Bangladesh (AP) — Bangladesh’s Prime Minister Sheikh Hasina on Saturday celebrated the opening of the country’s longest bridge, which took eight years to build amid setbacks involving political conflict and corruption allegations. The 6.51-kilometer (4.04-mile) bridge spanning the Padma River cost an estimated $3.6 billion and was paid for with domestic funds after the…
By Nichola Groom and Valerie Volcovici PORTLAND, Texas (Reuters) – Cheniere, the largest U.S. exporter of liquefied natural gas, boasts that it’s helping to “improve local air quality in communities globally” because the cleaner burning fuel it ships displaces coal in power plants. But in the Corpus Christi, Texas region, where the fuel is prepared…
BERLIN (Reuters) – Lufthansa does not expect its global airline operations to return to normal until 2023 after staff shortages and booming demand amid the lifting of COVID-19 restrictions forced it to cancel some flights, Die Welt newspaper reported on Saturday. “Unfortunately, a short-term improvement now in the summer is hardly realistic,” Lufthansa board member…
By Sinéad Carew (Reuters) – Shares in the biggest U.S. banks rallied on Friday after they passed the Federal Reserve’s annual health check, but Bank of America underperformed with test results implying it needs a larger-than-expected capital buffer, which could limit share buybacks and dividends. While the broader equity market also rallied on Friday, Wells…
(Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Friday said another 75 basis point interest rate hike in July is her “starting point,” though if the economy slows more than she expects, a half-point hike could be reasonable. “Right now that looks like what we’ll need,” Daly told reporters after a speech…
By Ann Saphir and Lindsay Dunsmuir (Reuters) -A pair of U.S. central bankers said on Friday they supported further sharp interest rate hikes to stem rapid price rises, even as investors cheered economic data showing inflation expectations to be less worrisome than initially feared. Last week, the Federal Reserve raised its benchmark overnight interest rate…
MIAMI (AP) — Long-battered shares of Carnival Corp. jumped more than 12% Friday as the cruise line owner reported a big increase in revenue, occupancy levels, and bookings for future trips. However, the company posted a $1.83 billion second-quarter loss and said the effects of the pandemic and higher fuel prices will lead to another…
