By Selena Li HONG KONG (Reuters) – Asia stocks posted gains on Tuesday, boosted by investor optimism that the region’s central banks will continue to pause or end interest rate hike cycles, whatever action the U.S. Federal Reserve takes. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6% as trading resumed after a long…
By Josh Horwitz SHANGHAI (Reuters) – Alibaba Group Holding Ltd on Tuesday unveiled Tongyi Qianwen, an AI large language model similar to GPT that it plans to integrate into all of the company’s business applications in the near future. It will first be integrated into DingTalk, Alibaba’s workplace messaging app and can be used to…
By Kevin Buckland TOKYO (Reuters) – The U.S. dollar paused for breath on Tuesday following its best rally this month against major peers as a resilient U.S. labour market bolstered the case for a Federal Reserve rate hike next month. The yen, which is highly sensitive to long-term U.S. bond yields, managed to claw back…
By David Shepardson WASHINGTON (Reuters) – The U.S. Energy Department (DOE) on Monday proposed reducing electric vehicles’ (EV) mileage ratings to meet government fuel economy requirements, a move that could force automakers to sell more low-emissions cars or improve conventional models. DOE wants to significantly revise how it calculates the petroleum-equivalent fuel economy rating for…
By Jonathan Stempel NEW YORK (Reuters) -A U.S. judge rejected requests to sever JPMorgan Chase & Co’s lawsuit accusing former executive Jes Staley of concealing what he knew about Jeffrey Epstein from two related lawsuits over its work for the late sex offender. Monday’s decision by U.S. District Judge Jed Rakoff in Manhattan is a…
By Michael Martina and Patricia Zengerle WASHINGTON (Reuters) – The leader of a U.S. congressional committee on China said on Monday he was concerned about electric carmaker Tesla Inc’s dependency on China, a day after the company revealed plans to open a Megapack battery factory in Shanghai. Tesla announced the factory in a tweet on…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Asian market trading volumes should return to more normal levels on Tuesday as investors around the world return from the Easter break, with Chinese inflation and an interest rate decision in South Korea the key events in a…
By David Shepardson WASHINGTON (Reuters) – The United States Postal Service (USPS) on Monday said it was seeking approval to hike the price of first-class mail stamps to 66 cents from 63 cents. USPS won approval to hike stamp prices to 63 cents from 60 cents in January. The new hike – which the USPS…
By Chris Prentice and Kanishka Singh NEW YORK/WASHINGTON (Reuters) -A Goldman Sachs & Co unit has agreed to pay $15 million to settle U.S. Commodity Futures Trading Commission (CFTC) charges that it failed to make proper disclosures and communicate fairly to swap customers, the regulator saidon Monday. In 2015 and 2016, Goldman opportunistically sold clients…
By Lawrence Delevingne (Reuters) – As First Republic Bank’s share price fell by double-digits in the aftermath of the collapse of Silicon Valley Bank last month, some people close to the San Francisco-based lender were worried short sellers were exacerbating its travails, according to a source familiar with the situation. Investors who wager shares in…
