ZURICH (Reuters) – Novartis on Monday named the intended new board members of Sandoz, the generics business it plans to spin off to shareholders later this year. The Basel company approved the recommendations of Sandoz Chairman-designate Gilbert Ghostine for the 10 members of the board, which will start preparatory work in June. The new members…
BEIJING (Reuters) – China’s central bank said on Monday it would keep liquidity reasonably ample and interest rates reasonable and appropriate, focusing on supporting domestic demand amid uncertainties. The People’s Bank of China (PBOC) would provide “strong and stable” support for the real economy under its “prudent” monetary policy that would be precise and forceful,…
By Nell Mackenzie LONDON (Reuters) -World stocks rose on Monday on cautious optimism ahead of this week’s deliberations over the U.S. $31.4 trillion debt ceiling, a raft of economic data and a bevy of central bankers lined up to hint about whether further rate hikes await. U.S. stocks looked to open higher with S&P 500…
(This May 12 story has been corrected to change the inflation-linked bonds’ outflows to $125.3 million from $268 billion in paragraph 13) By Patturaja Murugaboopathy (Reuters) – Global equity funds witnessed a fourth successive weekly outflow in the week ended May 10, hit by deadlock over the U.S. debt ceiling and lingering worries over an…
ROME (Reuters) – Italy’s industry minister said on Monday that a cut in sales tax on baby products has not produced the expected fall in consumer prices and called for the country’s new inflation committee to hold an urgent meeting on the matter. To help families cope with the surge in inflation and encourage people…
By David Morgan, Jeff Mason and Andy Sullivan WASHINGTON (Reuters) – President Joe Biden and congressional Republicans enter a critical week for debt-ceiling talks hoping they can find common ground on spending levels and energy regulations to avert a devastating default. Though the two sides did not appear close to an agreement, the White House…
(Reuters) -Right now, it’s all about deadlines, as lawmakers race to thrash out a deal on the U.S. borrowing limit, time runs short for Russia and Ukraine to agree on how to keep grain exports flowing and Turkish voters count the days to a second round of voting. Here’s a look at the week ahead…
SHANGHAI/BEIJING (Reuters) – Ford said on Monday it was working to reduce costs in China as it strives to recover from a long sales slump in the world’s largest auto market. “Our costs are not competitive, and we are working internally and with our partners to reduce costs in all areas,” a representative of Ford…
By Ari Rabinovitch and Steven Scheer JERUSALEM (Reuters) – Many of the biggest and wealthiest cities in Israel went on strike on Monday over a plan to reallocate their tax income, opening a new front against the government that is already under pressure over a contested judicial reform. The strike, bringing school closures and a…
By Norihiko Shirouzu, Paul Lienert and Victoria Waldersee (Reuters) – Tesla Inc’s new vehicle-assembly system, which created instant buzz when it was unveiled in March, ignited a debate among auto manufacturing experts on whether CEO Elon Musk’s so-called unboxed process is radical, revisionist or derivative – or all of the above. Musk believes the company…
