By Karen Lema (Reuters) – The United States stands with treaty ally the Philippines in the face of harassment by China’s coast guard in the South China Sea and remains deeply concerned about “intimidation” by Beijing, a senior U.S. official said on Tuesday. A visit to the United States this week by Philippine President Ferdinand…
WASHINGTON (Reuters) – U.S. Secretary of State Antony Blinken said on Wednesday he was hopeful he could reschedule a visit to China this year after his planned trip in February was canceled following the appearance of a Chinese high altitude balloon over the United States. “I am,” Blinken said in an interview with the Washington…
(Reuters) – Shares of activist investor Carl Icahn’s investment firm lost nearly a fifth of their value on Wednesday, a day after short seller Hindenburg Research launched a scathing attack on the company. Icahn Enterprises LP’s shares were trading at $33.66, giving the company a market value of $11.9 billion. The stock has lost 34%…
WASHINGTON (Reuters) – The U.S. Treasury’s estimate that it could run short of cash to satisfy all U.S. payment obligations as early as June 1 is its “best estimate” based on recent tax receipts, Treasury Assistant Secretary for Financial Markets Joshua Frost said on Wednesday. He told a news conference after Treasury’s quarterly refunding announcement:…
ROME/BRUSSELS (Reuters) -Police across Europe arrested more than 100 people on Wednesday in a massive crackdown that targeted the Italian ‘Ndrangheta mafia, with suspects accused of drugs and weapons trafficking with counterparts in Latin America. “Today’s raids are one of the largest operations carried out so far in the fight against Italian organised crime,” said…
By Eric Onstad and Ashitha Shivaprasad LONDON/BENGALURU (Reuters) – Copper prices are due to recover slightly in coming months, supported by low inventories, but the upside will be curbed by weak physical demand in China and the threat of a global recession, a Reuters poll showed. Copper prices have been gradually losing steam since hitting…
(Reuters) -World Wrestling Entertainment Inc on Wednesday reported a drop in first-quarter revenue and operating income due to a delay in a key event but maintained its full-year earnings forecast. The sports entertainment company said it continues to target “record revenue” and adjusted operating income before depreciation and amortization (OIBDA) of $395 million to $410…
WASHINGTON (Reuters) – The U.S. services sector maintained a steady pace of growth in April as new orders increased amid a surge in exports, but businesses continued to face higher prices for inputs, indicating that inflation could remain elevated for some time. The Institute for Supply Management (ISM) said on Wednesday that its non-manufacturing PMI…
By Arunima Kumar (Reuters) -U.S. refiner Phillips 66 beat Wall Street estimate for first-quarter profit on Wednesday, joining rivals in gaining from elevated margins on sustained fuel demand amid tight crude supplies. The company’s shares rose 1.3% to $95.98 in morning trade. Profits from turning crude oil into gasoline, diesel and jet fuel surged as…
By Rachna Uppal DUBAI (Reuters) – Government-led reforms and the growth of private investment in new sectors will help support non-oil economic growth in Saudi Arabia amid an expected sharp slowdown in overall growth this year, a senior IMF official said. The Saudi economy grew 8.7% last year, as high oil prices boosted revenue and…
