By Davide Barbuscia NEW YORK (Reuters) -The cost of insuring exposure to U.S. government debt rose to fresh highs on Wednesday, as President Joe Biden and top lawmakers remained deadlocked in talks over raising the $31.4 trillion federal borrowing limit. Spreads on U.S. one-year credit default swaps (CDS) – market-based gauges of the risk of…
By Mike Scarcella (Reuters) – Caesars Entertainment Inc, MGM Resorts International and other casino-hotel operators in Atlantic City, New Jersey, have been sued by consumers in a proposed class action accusing them of artificially boosting room rental rates in violation of U.S. antitrust law. The 109-page lawsuit filed on Tuesday also named Hard Rock International…
NEW YORK (Reuters) – North American coffee shop chain Tim Hortons will enter the retail market in South Korea later this year, its parent company Restaurant Brands International said in a statement on Wednesday. The company said the new stores in the Asian country, one of the fastest growing coffee markets in the world, would…
By Jonathan Stempel and Jack Queen NEW YORK (Reuters) -Former Elle magazine advice columnist E. Jean Carroll said on Wednesday she felt “fantastic” after a jury a day earlier found Donald Trump liable for sexually abusing and defaming her, and awarded her $5 million in damages in her civil lawsuit against the former U.S. president….
By YP Rajesh NEW DELHI (Reuters) – India’s ruling Bharatiya Janata Party (BJP) is trailing the main opposition Congress party in elections held on Wednesday in the southern state of Karnataka, but neither seemed set for a clear win, TV exit polls showed. The election in Karnataka, where BJP led the outgoing government, is the…
TOKYO (Reuters) -Japan’s Panasonic Holdings Corp on Wednesday said it expects net profit to rise to a record high this year on robust auto battery sales and a hefty tax credit in the United States. The industrial conglomerate, which supplies batteries to U.S. electric vehicle (EV) leader Tesla Inc, is expanding its energy business just…
By Chris Prentice NEW YORK (Reuters) – Federal prosecutors in Washington are looking into short seller activity around the recent volatility in U.S. bank shares sparked by the failure of three regional lenders since March, a source familiar with the matter said. Short sellers, traders that profit by betting shares will fall, have come under…
By Alun John and Ankur Banerjee LONDON/SINGAPORE (Reuters) – Investors are getting more bang for their buck this year by buying European companies with a focus on China than buying Chinese companies themselves, a sign of the unevenness of China’s pandemic recovery and geopolitical concerns. Late last year, China dismantled its strict zero-COVID policy, helping…
By Akash Sriram (Reuters) – Shares of Rivian Automotive Inc rose nearly 6% on Wednesday as the company’s positive earnings stood out in a poor quarter for electric-vehicle startups, but analysts warned that stiff competition will be a hurdle in its path to profitability. The company looked set to add about $700 million to its…
By Akash Sriram (Reuters) – Shares of Rivian Automotive Inc rose nearly 6% on Wednesday as the company’s positive earnings stood out in a poor quarter for electric-vehicle startups, but analysts warned that stiff competition will be a hurdle in its path to profitability. The company looked set to add about $700 million to its…
