SHANGHAI (Reuters) – China is widely expected to lower its benchmark lending rates on Monday, a Reuters survey showed, with a vast majority of participants predicting a deeper cut to the mortgage reference to lift the ailing property sector and the overall economy. The loan prime rate (LPR), which banks normally charge their best clients,…
By Kevin Buckland TOKYO (Reuters) – The U.S. dollar climbed to a fresh one-month high against a basket of major peers on Friday as Federal Reserve policymakers continued to talk up the need for further interest rate hikes ahead of their key Jackson Hole symposium next week. The dollar index rose 0.121% to 107.620, after…
By David Milliken LONDON (Reuters) – British households are feeling “a sense of exasperation” about the surging cost of living which has pushed consumer sentiment to its lowest since at least 1974, according to the country’s longest-running survey of household finances. The GfK consumer sentiment index sank to a record-low -44 in August from July’s…
WASHINGTON (Reuters) – General Motors Co and LG Energy Solution are considering a site in Indiana for a fourth U.S. battery cell manufacturing plant, a spokeswoman for the companies’ joint venture said on Thursday. Ultium Cells LLC “is developing a competitive business case for a potential large investment that could be located in New Carlisle,…
(Reuters) -Bed Bath & Beyond Inc shares tumbled 35% after the bell on Thursday as billionaire investor Ryan Cohen exited the struggling home goods retailer by selling his stake following a stunning rally in the meme stock this month. Cohen’s RC Ventures was the second largest investor in the company. The venture capital firm said…
OMAHA, Neb. (AP) — The head of the nation’s largest railroad union says the report designed to help resolve stalled contract talks with freight railroads doesn’t do enough to address concerns about working conditions, even though it suggests 24% raises. The railroads indicated earlier this week that they were ready to hammer out a deal…
NEW YORK (AP) — The newest meme stock on Wall Street, Bed Bath & Beyond, tumbled even further in after-hours trading Thursday after a high-profile activist investor confirmed that he’s bailed out of the stock. Ryan Cohen, the co-founder of Chewy who helped ignite a couple of meme stocks to jaw-dropping heights, confirmed in a…
By Sheila Dang (Reuters) – Billionaire entrepreneur Elon Musk, who is attempting to walk away from his deal to acquire Twitter Inc, is seeking documents from advertising technology firms as part of his quest to gain more information on bot and spam accounts on Twitter, according to filings in a Delaware court on Thursday. Twitter…
By Nia Williams (Reuters) -A state of Michigan lawsuit that aims to force Enbridge Inc to stop operating the Line 5 oil pipeline underneath the Straits of Mackinac in the Great Lakes will be heard in federal court, a judge ruled on Thursday. The decision from Judge Janet Neff is a win for Calgary-based Enbridge….
(Reuters) – Danish biotech firm Bavarian Nordic said on Thursday it has signed up a U.S.-based manufacturer to package its Jynneos monkeypox vaccine and the production is expected to begin later this year. The company aims to finish the technology transfer in three months to Michigan-based Grand River Aseptic. More than 13,500 cases of the…
