(Reuters) – Traders on Thursday trimmed bets on interest-rate hikes by the Federal Reserve as a government report showed inflation rose less than expected last month. Futures contracts that settle to the Fed’s policy rate surged immediately after the report, as traders moved to price in a bigger chance that the Fed will slow the…
LONDON (AP) — Prime Minister Rishi Sunak is aiming to repair frayed relations with Britain’s European Union neighbors — and with highly skeptical leaders in Scotland and Wales — when he attends a summit of leaders from across the U.K. and Ireland on Thursday. It’s the first time since 2007 that a U.K. leader has…
BRUSSELS (AP) — The European Union’s executive arm proposed pollution standards Thursday for new combustion engine vehicles that are expected to remain on European roads well after the 27-nation bloc bans their sale in 2035. The so-called Euro 7 standards presented by the European Commission would apply to all cars, vans, trucks and buses sold…
WASHINGTON (AP) — The number of Americans applying for jobless benefits rose slightly last week, but the labor market remains healthy despite job cuts that have begun to spread across industries most affected by soaring interest rates, such as housing and technology. Unemployment claims for the week ending Nov. 5 rose by 7,000 to 225,000…
By Angus Berwick and Tom Wilson (Reuters) -On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message. “I’m sorry,” he told them. “I fucked up.” The reason for the mea culpa: His announcement half an hour earlier that FTX’s arch-rival, Binance, planned to mount a shock takeover…
By Ben Blanchard and Sarah Wu TAIPEI (Reuters) -Apple Inc supplier Foxconn said on Thursday it expected smartphone revenue to fall this quarter and is adjusting production to prevent recent COVID-19 curbs at a massive iPhone factory in China from impacting holiday orders. Foxconn has grabbed headlines in recent weeks, with tight virus restrictions at…
By Prerna Bedi (Reuters) -Domino’s Pizza Group Plc said on Thursday sales in the key holiday quarter were off to a positive start and the fast-food chain is pinning hopes on the FIFA World Cup to drive revenues further despite a squeeze on consumer finances. The company, a franchisee of U.S.-based Domino’s Pizza Inc, also…
TOKYO (Reuters) – Vehicle demand in the United States is strong for the rest of the year but its economy is expected to slow after the spring as interest rates rise, Japan’s Mazda Motor Corp executives on Thursday. “As for the U.S. market from next spring onward, we believe that the economy will gradually slow…
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s new government will release the 2023 budget on Monday focused on boosting revenue, implementing tax reforms and fiscal consolidation to secure an IMF bailout package to help the country recover from its worst financial crisis in decades. Soaring inflation, a weakening currency and low foreign exchange reserves…
BEIJING (AP) — Asian stock markets surged Friday after U.S. inflation eased by more than expected, spurring hopes the Federal Reserve might scale down plans for more interest rate hikes. Hong Kong’s market benchmark jumped 5.4%. Seoul and Sydney rose almost 3%. Shanghai and Tokyo also advanced. Oil prices edged higher. Wall Street’s benchmark S&P…
