BEIJING (AP) — Chinese leader Xi Jinping is keeping the West guessing about whether Beijing will cooperate with tougher sanctions on Russia as he meets President Vladimir Putin a year after declaring they had a “no limits” friendship ahead of the Kremlin’s invasion of Ukraine. China has avoided violating sanctions but its purchases of Russian…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japanese policymakers on Wednesday reiterated their readiness to take “necessary action” against rapid yen moves, in the wake of a slide in the currency triggered by bets the U.S. Federal Reserve would raise interest rates higher and for longer. When asked about the yen’s sharp overnight falls,…
By Daniel Leussink and Kantaro Komiya TOKYO (Reuters) -Japan’s core machinery orders extended gains in July, raising hopes business growth spending may offset near-term headwinds from a global economic slowdown and a weaker yen, which has pushed up costs at home. The surprise increase in core orders – a barometer of capital expenditure – could…
By Sameer Manekar (Reuters) -Rio Tinto Ltd said on Wednesday it would team up with its biggest customer China Baowu Steel Group to develop an iron ore project in Western Australia for $2 billion as it looks to prop up its production from the Pilbara region. The deal comes amid fraught ties between Australia and…
By Sheila Dang and David Shepardson (Reuters) -The FBI informed Twitter Inc of at least one Chinese agent working at the company, U.S. Senator Chuck Grassley said during a Senate hearing on Tuesday where a whistleblower testified, raising new concerns about foreign meddling at the influential social media platform. Peiter “Mudge” Zatko, a famed hacker…
WASHINGTON (Reuters) – A group of 13 companies urged the U.S. Congress on Tuesday to approve a bill that would rein in giant tech companies like Alphabet’s Google and Meta’s Facebook. DuckDuckGo, Mozilla, Proton and other companies that advertise themselves as pro-privacy expressed support for a bill to ban self-preferencing by Big Tech platforms like…
By Caroline Valetkevitch NEW YORK (Reuters) – The dollar rallied against the yen, euro and other currencies on Tuesday after stronger-than-expected U.S. inflation data boosted investor bets that the Federal Reserve will need to stay aggressive in raising interest rates. The dollar index, which tracks the greenback against its peers, was up 1.5% at 109.85…
By Lananh Nguyen and Saeed Azhar NEW YORK (Reuters) -JPMorgan Chase and Bank of America, the two largest U.S. banks by assets, expressed caution about job cuts in contrast with Goldman Sachs, where hundreds of layoffs could start as early this month. “You need to very careful when you have a bit of a downturn…
PARIS (AP) — Lights on the Eiffel Tower will soon be turned off more than an hour earlier at night to save electricity, the Paris mayor announced Tuesday, as Russia’s war in Ukraine deepens an energy crisis in Europe. Mayor Anne Hidalgo said the iconic tower that is normally illuminated until 1 a.m. is only…
By Ruhi Soni and Ankit Kumar (Reuters) – Seeds and pesticides company Corteva Inc on Tuesday announced plans to exit about 35 countries and lay off roughly 5% of its global workforce as part of the company’s cost-cutting plans. A surge in inflation this year to four-decade highs has forced Corporate America to slash planned…
