WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said in a letter to Congress that the agency may be unable to meet all of its debt obligations as soon as June 1 if the debt ceiling is not raised, putting new urgency on talks in Congress. The date is sooner than an estimate Treasury made…
By Yantoultra Ngui SINGAPORE (Reuters) -Singapore’s biggest bank DBS Group reported record first-quarter profit on Tuesday, rising a stronger-than-expected 43% from a year earlier on a higher net interest margin, sustained business momentum and resilient asset quality. Southeast Asia’s largest lender by assets however said its net interest margin likely peaked in the first quarter…
WASHINGTON (Reuters) – U.S. Senate Majority Leader Chuck Schumer on Monday set in motion an expedited process for the chamber to consider a clean two-year suspension of the federal debt ceiling, a Schumer spokesman said. The top Senate Democrat also opened the door to talks aimed at crafting a bipartisan agreement on spending and revenue….
By Clotaire Achi and Stephane Mahe PARIS (Reuters) -French police clashed with hundreds of black-clad anarchists in Paris and other cities during union-led protests against President Emmanuel Macron’s increase in the retirement age, as workers staged Labour Day rallies across Europe. Demonstrators pelted Paris police with Molotov cocktails and fireworks, torched building materials and smashed…
INCHEON, South Korea (Reuters) – South Korea’s finance minister said on Tuesday that the trilateral cooperation between South Korea, Japan and China has became more important as the global economy stands at an inflection point. Minister Choo Kyung-ho said such cooperation would not only help the three countries, which account for more than 20% of…
By El Tayeb Siddig and Nafisa Eltahir KHARTOUM (Reuters) -The United Nations warned on Monday that the conflict in Sudan could force 800,000 people to flee the country as battles between rival military factions persisted in the capital despite a supposed ceasefire. Hundreds of people have been killed and thousands wounded over 16 days of…
By Steve Gorman (Reuters) -A dust storm that cut visibility to near zero on Monday triggered a series of chain-reaction crashes involving dozens of vehicles on an Illinois highway, killing six people and injuring at least two dozen others, authorities said. Roughly 40 to 60 passenger cars and 30 commercial vehicles, including numerous tractor-trailer trucks,…
By Jonathan Stempel (Reuters) – A federal judge in Detroit on Monday threw out a jury verdict ordering Ford Motor Co to pay Versata Software Inc $104.6 million for breaching a 2004 licensing contract and misappropriating trade secrets. U.S. District Judge Matthew Leitman said that while Versata Software, which licensed software to Ford from 1998…
GENEVA(Reuters) – Around a quarter of jobs are set to change in the next five years, according to a survey of employers published on Monday by the World Economic Forum (WEF), the organisation known for its annual meeting in Davos, Switzerland. Some 69 million jobs will be created and 83 million eliminated by 2027, it…
By Jonathan Stempel NEW YORK (Reuters) – JPMorgan Chase & Co could be liable to women who accused Jeffrey Epstein of sexual abuse if they can show that former executive Jes Staley had first-hand knowledge that the financier ran a sex-trafficking venture, a U.S. judge said on Monday. U.S. District Judge Jed Rakoff in Manhattan…
