By Nupur Anand, Anirban Sen, David French and Isla Binnie NEW YORK (Reuters) – On March 12, as several U.S. banks reeled from a crisis in confidence, JPMorgan Chase & Co put its might behind First Republic Bank, giving the troubled lender what two sources said was a $10 billion financing. The JPMorgan facility did…
By Leika Kihara (Reuters) -The International Monetary Fund (IMF) raised Asia’s economic forecast on Tuesday as China’s recovery underpinned growth, but warned of risks from persistent inflation and global market volatility driven by Western banking-sector woes. The reopening of China’s economy will be pivotal for the region with the spillover to Asia seen focused on…
By Jeff Mason, Trevor Hunnicutt and David Brunnstrom WASHINGTON (Reuters) -President Joe Biden told his counterpart Ferdinand Marcos Jr. on Monday that the U.S. commitment to the defense of its ally was “ironclad,” including in the South China Sea where Manila is under pressure from China. Marcos, on the first White House visit by a…
By Lewis Jackson and Muyu Xu SYDNEY (Reuters) – More than three years since China first blocked a range of Australian imports in a political dispute, restrictions are easing, but reviving trade is proving more challenging than stopping it in the first place. A leaders meeting late last year set off a thaw in relations…
By Praveen Menon SYDNEY (Reuters) – Australia’s flagship carrier, Qantas Airways Ltd, said on Tuesday that long-serving CEO Alan Joyce would step aside in November, and named Vanessa Hudson as its next chief executive officer. Below is a timeline of key events in Joyce’s 15-year career as one of the longest-serving CEOs of a major…
By Svea Herbst-Bayliss and Carolina Mandl BEVERLY HILLS (Reuters) -Investors breathed easier on Monday after a weekend auction found a buyer for troubled First Republic Bank, though some said they were worried the crisis in regional banks is not over and hedge funds bet other dominos may still fall. As Wall Street money managers, banking…
By David Shepardson WASHINGTON (Reuters) – The U.S. Postal Service (USPS) said on Monday it expected to receive next-generation delivery vehicles in June 2024, nine months behind a prior schedule. In March 2022, the USPS placed an initial $2.98 billion order for 50,000 next-generation delivery vehicles from Oshkosh Corp and previously said it expected to…
A look at the day ahead in European and global markets from Asia markets correspondent Kevin Buckland. The Reserve Bank of Australia kicked off a string of major central bank meetings this week by surprising markets with a quarter-point rate hike, when most had been positioned for a pause. It even signalled the possibility of…
A look at the day ahead in European and global markets from Asia markets correspondent Kevin Buckland. The Reserve Bank of Australia kicked off a string of major central bank meetings this week by surprising markets with a quarter-point rate hike, when most had been positioned for a pause. It even signalled the possibility of…
LOS ANGELES (Reuters) – Thousands of Hollywood film and television writers will go on strike starting Tuesday, an action that will disrupt TV production. How will the walkout by the Writers Guild of America’s affect viewers’ favorite TV shows and movies? Which shows will feel the first impact of the strike? Late-night talk shows such…
