BEIJING (Reuters) – China’s exports posted a surprise surge in March, with outbound shipments rising 14.8%, snapping five months of decline, while imports fell a smaller-than-expected 1.4%, customs data showed on Thursday. Analysts in a Reuters poll had expected exports to fall 7.0%, after dropping 6.8% in the January-February period. Imports were forecast to have…
By Andrea Shalal WASHINGTON (Reuters) – Global creditors, debtor nations and international financial institutions on Wednesday agreed ways to jumpstart and streamline long-stalled debt restructuring efforts, including through improved data sharing and clearer timetables. The World Bank, International Monetary Fund and India, current president of the Group of 20 (G20) major economies, issued a joint…
By Andrea Shalal WASHINGTON (Reuters) – Global creditors, debtor nations and international financial institutions on Wednesday agreed ways to jumpstart and streamline long-stalled debt restructuring efforts, including through improved data sharing and clearer timetables. The World Bank, International Monetary Fund and India, current president of the Group of 20 (G20) major economies, issued a joint…
By Ankur Banerjee SINGAPORE (Reuters) – The dollar was on the back foot on Thursday after cooler-than-anticipated U.S. inflation data lifted risk sentiment and stoked expectations that the Federal Reserve will be done with its monetary tightening after hiking one last time next month. The dollar index, which measures the currency against six major peers,…
By David Shepardson WASHINGTON (Reuters) – The Biden administration’s proposal on Wednesday to sharply cut tailpipe emissions and vehicle pollutants is on a fast track as the future of U.S. auto production could become a presidential campaign issue next year. The Environmental Protection Agency is moving with urgency to mandate a 56% cut in vehicle…
By Blake Brittain (Reuters) – Monster Beverage Corp, the maker of Monster Energy drink, on Wednesday persuaded a California federal court to block rival Vital Pharmaceuticals, maker of Bang Energy, from marketing its drinks as containing “Super Creatine.” The decision follows a jury verdict in September that awarded Monster $293 million in its lawsuit against…
(Reuters) – SoftBank Group Corp has moved to sell almost all of its remaining shares in Alibaba Group Holding Ltd, the Financial Times reported on Wednesday citing regulatory filings it had analyzed. The forward sales, which FT analyzed based on filings sent to the U.S. Securities and Exchange Commission, will eventually cut SoftBank’s stake in…
By Andrea Shalal WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Wednesday called for the World Bank to implement further reforms this year to expand its ability to help developing countries meet global challenges such as climate change. Yellen hosted talks with global finance officials to discuss an initial spate of balance sheet changes that…
By Lisa Baertlein LOS ANGELES (Reuters) -The International Brotherhood of Teamsters union on Wednesday said it would not begin national contract negotiations with United Parcel Service as planned next week unless local supplemental contracts are completed. The largest private sector labor negotiations covering some 340,000 Teamsters-represented workers at UPS are scheduled to begin on Monday,…
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday called for continued significant aid to Ukraine as it battles against Russia’s invasion, and lauded Ukrainian authorities for their focus on good governance and anticorruption. Yellen, who paid a surprise visit to Kyiv in February, spoke at the start of a ministerial meeting on Ukraine…
