By David Morgan, Andrea Shalal and Moira Warburton WASHINGTON (Reuters) -Negotiators for Democratic President Joe Biden and top congressional Republican Kevin McCarthy held what both sides called productive talks on Wednesday to try to reach a deal to raise the United States’ $31.4 trillion debt ceiling and avoid a catastrophic default. After a four-hour White…
SYDNEY (Reuters) – Australia said on Thursday it cannot cancel existing contracts with auditor PricewaterhouseCoopers (PwC), which is embroiled in a scandal involving leaking confidential government tax plans to corporate clients, due to legal constraints. This comes as lawmakers have called for the cancellation of PwC Australia’s existing government contracts and a ban on it…
By Xinghui Kok SINGAPORE (Reuters) -Singapore’s economy contracted in the first quarter, raising the risk of a recession in the city state as the global economic outlook weakens and major trading partner China struggles for a post-COVID lift-off. Singapore, a major financial hub, is reliant on trade flow to keep its economy humming, though external…
By Leika Kihara and Takahiko Wada TOKYO (Reuters) – The Bank of Japan (BOJ) may abandon a controversial bond yield cap this year if risks clouding the outlook, such as global banking sector woes, subside, Toshihiro Nagahama, an economist who participated in a key government panel, told Reuters. Nagahama, who was invited to speak at…
By Tim Reid (Reuters) – Florida Governor Ron DeSantis entered the battle for the 2024 presidential election during a chaotic, glitch-filled online forum on Twitter hosted by its billionaire owner, Elon Musk. Here are three takeaways from the DeSantis announcement: TWITTER CAN BE DANGEROUS TO YOUR CAMPAIGN’S HEALTH DeSantis’ decision to announce his White House…
(Reuters) – President Volodymyr Zelenskiy renewed his appeal on Wednesday for U.S.-built F-16 fighter jets, saying their appearance with Ukrainian pilots would be a sure signal from the world that Russia’s invasion would end in defeat. “The main thing is the speed in training and in supply – meaning the time between decisions in real…
By James Oliphant WASHINGTON (Reuters) -Florida Governor Ron DeSantis suffered a chaotic start to his 2024 presidential election race on Wednesday when glitches marred an online forum hosted by Twitter owner Elon Musk that was meant to showcase DeSantis’ fitness for the job. The Twitter broadcast of the hour-long interview , which had been intended…
By Chris Prentice WASHINGTON (Reuters) – Short-selling, the practice of seeking to profit off bets that a stock will fall, is a key focus for U.S. prosecutors, and there will be more activity by the Justice Department in coming months, a top department official said on Wednesday. The recent rout in shares of U.S. regional…
By Laura Sanicola (Reuters) – Oil prices fell in early Asian trading on Thursday after uncertainty that the United States will avoid a debt default weighed against the prospect of further OPEC+ production cuts. Brent crude futures slipped 5 cents, or 0.1%, to $78.31 a barrel by 0042 GMT. U.S. West Texas Intermediate crude (WTI)…
By Lewis Krauskopf, Shreyashi Sanyal and Shristi Achar A (Reuters) – Wall Street’s main indexes ended lower on Wednesday as talks between the White House and Republican representatives on raising the U.S. debt ceiling dragged on without a deal. The lack of progress on raising the U.S. government’s $31.4 trillion debt limit ahead of a…
