By Daina Beth Solomon MEXICO CITY (Reuters) -U.S. labor officials asked Mexico on Wednesday to probe whether workers at a Panasonic auto parts factory were denied their rights, marking the third U.S. labor complaint under a new trade deal that aims to improve workplace conditions in Mexico. The request from the U.S. Trade Representative (USTR)…
WELLINGTON, New Zealand (AP) — New Zealand’s government said Thursday it will hand out an extra few hundred dollars to more than 2 million lower-income adults to help them navigate what it describes as “the peak of the global inflation storm.” The payments are part of a package of new measures announced in the government’s…
By Tetsushi Kajimoto and Daniel Leussink TOKYO (Reuters) – Japan’s exports extended double-digit gains for a third straight month in April, but surging global commodity costs inflated the country’s import bill to a record, adding to worries about the rising cost of living. Shoring up the prospects of a private demand-led recovery, however, was a…
TOKYO (AP) — Japan recorded a trade deficit in April as its imports ballooned 28% due to soaring energy costs and the yen’s weakness against the dollar. Japan’s trade deficit totaled 839 billion yen ($7 billion) in April, for the ninth straight monthly deficit. In contrast, the world’s third-largest economy had recorded a surplus of…
SYDNEY (Reuters) – Australia’s unemployment rate stood at its lowest in almost 50 years in April as firms took on more full-time workers, a tightening in the labour market that will ratchet up pressure for further hikes in interest rates. Figures from the Australian Bureau of Statistics on Thursday showed the jobless rate held at…
NEW YORK (AP) — Convicted pharmaceutical executive Martin Shkreli was freed Wednesday from prison after serving much of a seven-year prison sentence for lying to hedge fund investors and cheating investors in a drug company. His attorney, Ben Brafman, said Shkreli, 39, was released early from a prison in Allenwood, Pennsylvania. The move was confirmed…
By Noel Randewich and Amruta Khandekar (Reuters) – Wall Street ended sharply lower on Wednesday, with Target losing around a quarter of its stock market value and highlighting worries about the U.S. economy after the retailer became the latest victim of surging prices. It was the worst one-day loss for the S&P 500 and Dow…
By Svea Herbst-Bayliss (Reuters) -Melvin Capital, once one of Wall Street’s most successful hedge funds which then lost billions in the meme stock saga, will shut down after it was hit again by this year’s market slump. Gabe Plotkin, widely regarded as one of the industry’s best traders after posting years of double digit returns,…
By David Shepardson WASHINGTON (Reuters) -A U.S. auto safety agency said Wednesday it has opened an investigation into a fatal crash involving a Tesla vehicle in California this month that resulted in three deaths and could have been caused by its advanced driver assistance system. The crash, involving a 2022 model Tesla Model S that…
By Tetsushi Kajimoto TOKYO (Reuters) – More than 60% of Japanese companies want the central bank to end its policy of massive monetary easing this fiscal year due to pain from the weak yen, with roughly a quarter calling for it to take action now, a Reuters survey shows. Less than a year ago, Japan…
