COLOMBO, Sri Lanka (AP) — Sri Lanka’s president on Monday proposed to more than double the country’s tax revenue as the island nation struggles to come out from its worst economic crisis. Unsustainable debt, a severe balance of payment crisis on top of lingering scars of the COVID-19 pandemic have led to a severe shortage…
NUSA DUA, Indonesia (AP) — Discord over Russia’s war on Ukraine and festering tensions between the U.S. and China are proving to be ominous backdrops for world leaders gathering in Indonesia’s tropical Bali island for a summit of the Group of 20 biggest economies starting Tuesday. With recession looming as central banks fight decades-high inflation…
(Reuters) -U.S. meatpacker Tyson Foods Inc on Monday forecast full-year sales above Wall Street estimates, signaling steady demand for its higher-priced chicken and beef despite decades-high levels of inflation. Packaged food makers have so far witnessed very little pushback from consumers on price increases, which were undertaken due to rising costs. The Springdale, Arkansas-based company…
(Reuters) -United Rentals Inc said on Monday it will acquire the assets of smaller rival Ahern Rentals Inc in an all-cash deal for about $2 billion, as the equipment rental firm looks to expand its U.S. presence. The company, which rents out industrial equipment such as vertical lifts, portable generators and mini-excavators, expects to fund…
NEW YORK (AP) — Sam Bankman-Fried received numerous plaudits as he rapidly achieved superstar status as the head of cryptocurrency exchange FTX: the savior of crypto, the newest force in Democratic politics and potentially the world’s first trillionaire. Now the comments about the 30-year-old Bankman-Fried range from bemused to hostile after FTX filed for bankruptcy…
KHERSON, Ukraine (AP) — President Volodymyr Zelenskyy triumphantly walked the streets of the newly liberated city of Kherson on Monday, hailing Russia’s withdrawal as the “beginning of the end of the war,” but also acknowledging the heavy price Ukrainian troops are paying in their grinding effort to push back the invaders. The retaking of Kherson…
By Anshuman Daga and Yantoultra Ngui SINGAPORE (Reuters) – Temasek Holdings is considering selling Advanced MedTech, multiple sources told Reuters on Monday, after the medical devices firm, fully-owned by the Singaporean state investor, received interest from suitors including buyout funds. Two investment banks have been hired to launch a sale process for Singapore-headquartered MedTech, which…
By Clare Jim and Xie Yu HONG KONG (Reuters) -Chinese property stocks and bonds soared on Monday as the market cheered Beijing’s “most comprehensive” support measures aimed at boosting liquidity in the sector in its latest attempt to stabilise a key pillar for the world’s second-largest economy. The package, which sources say lays out multiple…
NEW YORK (AP) — The rapid collapse of cryptocurrency exchange FTX into bankruptcy last week has also shaken the world of philanthropy, due to the donations and influence of FTX founder Sam Bankman-Fried in the “effective altruism” movement. The FTX Foundation — and other related nonprofits mostly funded by Bankman-Fried and other top FTX executives…
By Tetsushi Kajimoto TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Monday the central bank would stick to monetary easing to support the economy for the present in order to achieve sustainable and stable inflation accompanied by wage growth. Wage inflation, which has lagged policymakers expectations, is set to again take centre…
