By John O’Donnell and Sujata Rao FRANKFURT (Reuters) – Russia’s failure to send an interest payment to creditors is triggering a payout on debt insurance, taking the country another step closer to its first default on international bonds since the Bolshevik revolution more than a century ago. On Friday, the European Union expanded sanctions on…
LOS ANGELES (AP) — At a time when rising gasoline and food prices are already straining Americans’ budgets, many apartment tenants are grappling with soaring rents. The Miami-Fort Lauderdale-West Palm Beach metropolitan area in Florida saw overall median rent soar over 50% in April from a year ago, to $3,045 a month, according to Realtor.com….
By Howard Schneider and Lindsay Dunsmuir WASHINGTON (Reuters) – U.S. jobs gains of 390,000 in May and still strong wage growth leave the Federal Reserve on track for half point interest rate increases in June and July as the U.S. economy continued to show little evidence it is buckling under the pressure of high inflation…
BERLIN (Reuters) -The Swiss government on Friday announced new rules for the nation’s five major banks, requiring that they boost their liquidity in order to better weather events such as the COVID-19 pandemic in future. “The revision is intended to ensure that systemically important banks (SIBs) hold sufficient liquidity to absorb liquidity shocks and cover…
(Reuters) – Russian internet giant Yandex said on Friday Arkady Volozh has stepped down as CEO and left the board of directors after the European Union had included him on its latest list of sanctions against Russian entities. Volozh has transferred his voting power to the board, Yandex said, adding that it believes that “the…
LONDON (Reuters) – Euro zone business growth was robust in May but is at risk of a slowdown from soaring living costs, supply chain disruptions and uncertainty surrounding Russia’s invasion of Ukraine, a survey showed. S&P Global’s final composite Purchasing Managers’ Index (PMI), seen as a good gauge of economic health, fell to 54.8 in…
(Reuters) -Bristol Myers Squibb said on Friday it would acquire drug developer Turning Point Therapeutics Inc for $4.1 billion in cash to gain access to promising targeted treatments for cancer. Turning Point’s lead drug, repotrectinib, targets mutations in certain proteins in the body that lead to unchecked cell growth, a hallmark of cancer. Bristol Myers…
Walmart is adding four new fulfillment centers to its existing capacity, a move that will bring more than 4,000 jobs and make next- or two-day shipping available to more Americans. The announcement comes at a time when consumers are relying on packages being shipped to their homes more than ever before. While online ordering has…
DETROIT (AP) — More than 750 Tesla owners have complained to U.S. safety regulators that cars operating on the automaker’s partially automated driving systems have suddenly stopped on roadways for no apparent reason. The National Highway Traffic Safety Administration revealed the number in a detailed information request letter to Tesla that was posted Friday on…
WASHINGTON (AP) — U.S. employers added 390,000 jobs in May, extending a streak of solid hiring that has bolstered an economy under pressure from high inflation and rising interest rates. Last month’s gain reflects a resilient job market that has so far shrugged off concerns that the economy will weaken in the coming months as…
