BANGKOK (AP) — Sri Lanka is desperate for help with weathering its worst crisis in recent memory. Its schools are closed for lack of fuel to get kids and teachers to classrooms. Its effort to arrange a bailout from the International Monetary Fund has been hindered by the severity of its financial crisis, its prime…
By Davide Barbuscia NEW YORK (Reuters) – Global corporate net debt has fallen by 1.9% to $8.15 trillion in the past year as higher borrowing costs reduce appetite for new financing and strong cash flows from years of accommodative monetary conditions help companies repay existing debt, a study of 900 top firms released on Wednesday…
By Arathy Somasekhar and Emily Chow KUALA LUMPUR (Reuters) -Oil prices rose as much as nearly 3% on Wednesday before paring some gains as investors piled back into the market after a heavy rout in the previous session, with supply concerns returning to the fore even as worries about a global recession linger. Brent crude…
By Jamie Freed SYDNEY (Reuters) – Qantas Airways Ltd’s unionised licensed aircraft engineers are voting on work stoppages of up to 12 hours and overtime bans from next month after failing to reach a pay agreement with the airline, the union’s head said on Wednesday. The move which affects around 1,000 engineers across Qantas and…
(Reuters) – A New York judge on Tuesday held real estate firm Cushman & Wakefield PLC in contempt of court for not producing documents subpoenaed in a probe of former U.S. President Donald Trump’s business practices. The judge ordered the company to be fined $10,000 a day until it complied. Attorney General Letitia James has…
By David Lawder and Trevor Hunnicutt WASHINGTON (Reuters) -U.S. President Joe Biden’s team is still looking at options on whether to cut tariffs on Chinese imports to ease inflation, the White House said on Tuesday as industry requests to maintain the duties mounted. More than 400 requests to keep tariffs in place on Chinese goods…
By David Shepardson WASHINGTON (Reuters) -The U.S. government on Tuesday reassigned 16 peak-hour runway timings at congested Newark Airport in New Jersey to Spirit Airlinesfrom Southwest Airlines, saying this would boost competition and help reduce costs for travelers. The move “secures low-cost service options for Newark customers and improves competition in the Newark market,” the…
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – By some early estimates, the U.S. economy, as measured by gross domestic product, may have shrunk in the three months from April through June. Add that to the decline from January through March, and that would be a contraction for two quarters in a row. By…
(Reuters) – JPMorgan Chase & Co will have to pay an $850,000 penalty to the U.S. Commodity Futures Trading Commission (CFTC) for allegedly failing to report certain foreign currency swaps, the regulator said on Tuesday. The commission found that the bank failed to report nearly 2.1 million short-dated foreign exchange swap transactions from September 2015…
OMAHA, Neb. (AP) — Smithfield Foods will pay restaurants and caterers $42 million to settle a lawsuit that accused the giant meat producer of conspiring to inflate pork prices, which will likely only add to concerns about how the lack of competition in the industry affects meat prices. Lawyers began notifying companies affected by this…
