By Susan Heavey, Doina Chiacu, Andrea Shalal WASHINGTON (Reuters) -President Joe Biden and top U.S. congressional Republican Kevin McCarthy on Wednesday underscored their determination to reach a deal soon to raise the federal government’s $31.4 trillion debt ceiling and avoid an economically catastrophic default. After a monthslong standoff, the Democratic president and the speaker of…
TOKYO (Reuters) – Toyota Motor Corp and two allied automakers unveiled a micro-sized electric van targeted at Japan’s delivery industry on the sidelines of the Group of Seven (G7) summit in Hiroshima on Thursday. The small electric commercial van will run on a battery electric vehicle (BEV) system that Toyota is jointly developing with minivehicle…
By Winni Zhou and Rae Wee SHANGHAI/SINGAPORE (Reuters) – China’s heavily managed yuan has dropped to multi-month lows and breached the closely watched 7-per-dollar level, and analysts who are predicting more weakness point to the U.S. Federal Reserve’s policy as being the bigger driver than economic weakness at home. The yuan, also referred to as…
By David Shepardson (Reuters) – Montana Governor Greg Gianforte on Wednesday signed legislation to ban Chinese-owned TikTok from operating in the state to protect residents from alleged intelligence gathering by China, making it the first U.S. state to ban the popular short video app. Montana will make it unlawful for Google and Apple’s app stores…
By Summer Zhen HONG KONG (Reuters) – As Japan’s stock market roars to multi-decade highs, large investors with long memories say they are staying out, wary of sagging momentum and the prospect the central bank will unwind its massive monetary stimulus. Riding a wave of buybacks and strong corporate earnings, and pumped up by a…
(This May 17 story has been corrected to rectify the name to Friberg, not Friburg, in paragraph 17) By Samuel Shen and Xie Yu SHANGHAI/HONG KONG (Reuters) – Smaller consultancy and due-diligence firms in China reckon they stand to gain once business returns to normal after the shock administered by Beijing’s crackdown on firms supplying…
By Sabine Siebold BRUSSELS (Reuters) – NATO will step back to the future at its Vilnius summit in July, with leaders set to approve thousands of pages of secret military plans that will detail for the first time since the Cold War how the alliance would respond to a Russian attack. The move signifies a…
By Leigh Thomas PARIS (Reuters) – France’s unions may have failed to derail President Emmanuel Macron’s push to raise the retirement age, but they are reaping big gains in new members thanks to the months-long battle. Hydroelectric plant worker Jeremy Bensa joined the hardline CGT after he and co-workers in his unit at state power…
By Rama Venkat (Reuters) -Amazon.com Inc’s cloud computing unit will invest 1.06 trillion rupees ($13 billion) in India by the end of this decade, doubling down on its past investments to cater to the growing demand for such services in one of Asia’s fastest-growing economies. This comes on top of its $6.5 billion investment in e-commerce…
By Matt Tracy (Reuters) -Many U.S. regional lenders may have to consider selling off commercial real estate (CRE) loans at a steep discount after breaching key regulatory thresholds for exposure to the troubled sector, according to new data and market sources. Regional banks, the largest lenders to the beleaguered U.S. CRE and construction markets, have…
