By Caroline Valetkevitch NEW YORK (Reuters) – Global stocks were down sharply on Tuesday while the yield on two-year U.S. Treasury notes rose to almost a 15-year high as investors prepared for the likelihood of another 75 basis point rate hike from the Federal Reserve. Sweden’s central bank raised interest rates by a larger-than-expected full…
NEW YORK (AP) — U.K. Prime Minister Liz Truss said Tuesday that she’s ready to make “unpopular decisions” such as boosting bonuses for wealthy bankers in order to get the country’s sluggish economy growing. Speaking before an emergency government budget statement on Friday, Truss said tax cuts were key to spurring economic growth, even though…
(Reuters) – Shares of Ford Motor Co fell 10% on Tuesday after the automaker flagged a bigger-than-expected $1 billion hit from inflation and pushed delivery of some vehicles to the fourth quarter due to parts shortages. “The inflationary costs are concerning as they could persist into Q4 and 2023,” Wells Fargo analyst Colin Langan said….
NEW YORK (Reuters) – Citigroup Inc introduced new diversity goals for gender, race and sexual orientation in its workforce for 2025, the bank said in a statement Tuesday. The company aims to boost global representation of women in assistant vice president (AVP) to managing director (MD) levels to 43.5% in 2025 from the current 40.6%….
BERLIN (Reuters) -The books for Volkswagen’s hotly anticipated initial public offering of Porsche AG are covered multiple times on the full size of the deal, a bookrunner involved in the listing said on Tuesday. Indicated demand for the listing, due to take place on Sept. 29 at the Frankfurt Stock Exchange, exceeds the full deal…
NEW YORK (AP) — The Global Fund to Fight AIDS, Tuberculosis and Malaria will get some high-powered help this week to reach its $18 billion goal to fund another three years to slow the spread of these diseases. President Joe Biden will host The Global Fund’s Seventh Replenishment Conference, the public health partnership’s fundraising campaign,…
By Hari Kishan BENGALURU (Reuters) – The latest turmoil in major sovereign debt markets is far from over as bond strategists in a Reuters poll expected yields to stay elevated well into next year, with risks firmly skewed towards their moving higher than currently predicted. More than a decade of rock-bottom sovereign bond yields came…
(Reuters) – U.S. stock index futures fell on Tuesday as investors positioned themselves for new economic projections and another large interest rate hike by the Federal Reserve this week to quell decades-high inflation. All the three major indexes ended a choppier session higher on Monday led by gains in beaten down industrial shares and some…
BRUSSELS (AP) — Hungary needs time and is urging its European Union partners to be “tolerant,” the country’s justice minister said Tuesday, after the bloc’s executive branch recommended suspending billions of euros in funding over concerns about democratic backsliding and the possible mismanagement of EU money. Justice Minister Judit Varga said that Hungary has proposed…
BERLIN (AP) — Natural gas supplier Uniper said Tuesday that it’s in “final discussions” for Germany to nationalize the company, ramping up the government’s intervention in the gas and oil industry as Russia’s war in Ukraine provokes an energy crisis. The expansion of Uniper’s July rescue deal would feature a capital increase of 8 billion…
