By Rae Wee SINGAPORE (Reuters) – The dollar paused its ascent on Friday after a rise in jobless claims in the United States implied possibly easing conditions in the labour market and tempered expectations of further aggressive rate hikes from the Federal Reserve. In Asia, moves were subdued as markets remained on guard ahead of…
By Leika Kihara TOKYO (Reuters) -The Bank of Japan (BOJ) is set to maintain ultra-low interest rates on Friday and hold off on making major changes to its controversial bond yield control policy, leaving options open ahead of a leadership transition in April. The meeting will be the last one to be chaired by Governor…
SANTIAGO (Reuters) – LATAM Airlines reported a fourth-quarter net profit of $2.538 billion, the company said on Thursday, noting that all financial renegotiations stemming from its bankruptcy proceedings are reflected in the results. The quarterly profit of South America’s leading airline compares to a loss of $2.755 billion during the same three-month period during the…
CINCINNATI, Ohio (Reuters) – General Electric Co is working on addressing issues with the durability of its LEAP jet engines and changes will be rolled out next year, Karl Sheldon, a senior executive at the company’s aerospace unit, said on Thursday. The problems with LEAP engines, which power Airbus and Boeing jets, is occurring in…
By Sinéad Carew and Amruta Khandekar (Reuters) – Wall Street’s three major stock indexes closed lower on Thursday, with bank stocks creating the biggest drag while investors also worried that Friday’s jobs report could spur more aggressive interest rate hikes from the Federal Reserve. The S&P 500’s bank index finished down 6.6% after hitting its…
By Pete Schroeder WASHINGTON (Reuters) – The top regulatory official for the U.S. Federal Reserve said cryptocurrency technology still could have “potential transformative” effects on the financial system, but needs “guardrails” to realize them. Fed Vice Chair for Supervision Michael Barr said recent turmoil in crypto markets make clear the sector could still pose a…
WASHINGTON (Reuters) – The U.S. Treasury Department on Thursday said it has proposed raising the effective minimum rate that U.S. corporations pay on overseas income to 21% from about 10.5% as it aims to bring the United States into compliance with a global corporate minimum tax deal. The changes to the current “GILTI” minimum tax…
By Jonathan Stempel NEW YORK (Reuters) – A U.S. judge on Thursday ordered JPMorgan Chase & Co to hand over more documents concerning Chief Executive Jamie Dimon to the U.S. Virgin Islands for the territory’s lawsuit accusing the bank of aiding in Jeffrey Epstein’s sex trafficking. U.S. District Judge Jed Rakoff in Manhattan said the…
(Reuters) – Canada-based delivery and logistics firm Purolator Inc, largely owned by Canada Post, said on Thursday it plans to invest about C$1 billion ($727.17 million) to electrify its fleet as the company looks to reduce its greenhouse gas emissions by 2030. Canadian Finance Minister Chrystia Freeland promised investments that can compete with the U.S….
By Rajesh Kumar Singh and Abhijith Ganapavaram CINCINNATI, Ohio (Reuters) -General Electric Co forecast revenue at its cash-cow aviation business to grow by at least low-double digits through 2025 on strong demand for jet engines and aftermarket services, sending its shares more than 8% higher on Thursday. Through this period, it also expects profit margins…
