By Choonsik Yoo SEOUL (Reuters) -South Korea’s annual consumer inflation in October ticked up from September against market expectations for no change, led by lagging effects of earlier global raw materials prices, government data showed on Wednesday. The consumer price index (CPI) rose 5.7% in October from a year earlier, according to the Statistics Korea…
OTTAWA (Reuters) – The Bank of Canada still needs to hike interest rates further to fight stubbornly high inflation, Governor Tiff Macklem said on Tuesday, reiterating that “we are getting closer, but we are not there yet.” In opening remarks to the Senate’s banking, trade and economy committee, he said the central bank was still…
CHICAGO (AP) — United Airlines pilots have overwhelmingly rejected a tentative contract, the latest move showing the resolve by airline unions to push for significant pay raises. The deal would have given pilots raises of nearly 15% over 18 months, according to the union. The Air Line Pilots Association said Tuesday that 94% of the…
NEW YORK (AP) — Days after taking over Twitter and a week before the U.S. midterm elections, billionaire Elon Musk has positioned himself as moderator-in-chief of one of the most important social media platforms in American politics. Musk has said he won’t make major decisions about content or restoring banned accounts before setting up a…
By Tiyashi Datta and Aditya Soni (Reuters) -Electronic Arts Inc lowered its annual bookings forecast on Tuesday as the publisher of “FIFA” and “Apex Legends” struggles with this year’s surge in the U.S. dollar and a gaming industry slowdown from pandemic heights. The company now expects annual bookings – an indicator of future revenue –…
By Jonathan Stempel (Reuters) -Dollar General Corp, one of the largest U.S. discount retailers, was sued on Tuesday by Ohio, which accused the company of baiting shoppers with low prices on store shelves, only to then charge more at the register. Citing inflationary pressures faced by consumers, Ohio Attorney General Dave Yost said he sued…
(Our weekly analysis of the wild world of cryptocurrencies. Repeats for additional subscribers) By Lisa Pauline Mattackal and Medha Singh (Reuters) – After months of tears and tantrums, bitcoin wants to split up with stock markets. The cryptocurrency, which has been closely correlated with tech stocks for much of its torrid 2022, is staging one…
(Reuters) – Framtiden Partnerships, a long-term shareholder of Swedish Match AB of nearly two decades, said it will not accept Marlboro maker Philip Morris International Inc’s higher offer of 116 Swedish crowns ($10.53) per share. Dan Juran, managing member of Framtiden which owns almost 1% of shares in Swedish Match, said he will still not…
(Reuters) – Tesla aims to start mass production of its Cybertruck at the end of 2023, two years after the initial target for the long-awaited pickup truck Chief Executive Elon Musk unveiled in 2019, two people with knowledge of the plans told Reuters. Tesla said last month that it was working on readying its Austin,…
By Arunima Kumar (Reuters) -Marathon Petroleum and Phillips 66 posted quarterly profits which cruised past Wall Street estimates on Tuesday, becoming the latest U.S. refiners to benefit from robust fuel demand and margins amid tight supplies. U.S. refiners are posting strong profits with refineries running at record levels this year, strong export demand amid a…
