SHANGHAI (Reuters) – Elon Musk is scheduled to travel to Tesla’s Shanghai factory on Wednesday night to meet with staff there, two sources familiar with the matter said. The Tesla CEO’s private jet landed in the financial hub earlier in the day after flying from Beijing, according to flight tracking provider Variflight. Tesla did not…
By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -Canada’s economy expanded faster than expected in the first quarter and likely accelerated further in April, data showed on Wednesday, increasing the odds for another interest rate hike by the central bank. The economy expanded at an annualized rate of 3.1% in the first three months of…
By Jane Lanhee Lee OAKLAND, California (Reuters) – Lightmatter, a Boston-based startup using light for AI computing, said on Wednesday it raised $154 million and tripled its valuation as customers in need of faster, more energy efficient computing for AI work are buying its systems. “We use light to link computer chips together and we…
LONDON (Reuters) – A wave of debt defaults by companies in the United States and Europe is imminent, due in part to the fastest monetary tightening cycle in 15 years, Deutsche Bank said in its annual default study released on Wednesday. Deutsche expects default rates to peak in the fourth quarter of next year. It…
May 31 (Reuters) – U.S. Labor Department report of job openings and labor turnover, seasonally adjusted. Rates (percent) Apr 2023 Mar 2023 Apr 2022 Job openings (1) 6.1 5.9 (r) 7.2 Hires (2) 3.9 3.9 (r) 4.3 Separations (3) 3.7 3.9 (r) 4.1 Quits (4) 2.4 2.5 3.0 Layoffs and discharges 1.0 1.2 0.9 Levels…
(Corrects to describe bill as bipartisan, not Republican) WASHINGTON (Reuters) – The U.S. House of Representatives will have the votes needed to pass a bipartisan debt ceiling bill later on Wednesday, Representative Tom Emmer, the No. 3 House Republican, said. “We’re going to have the votes tonight. This will pass,” Emmer told CNN in an…
WASHINGTON (Reuters) – The bipartisan debt ceiling bill will become law, U.S. House of Representatives Speaker Kevin McCarthy said on Wednesday, hours ahead of a much-anticipated vote in the chamber on the measure, which if passed would then go to the Senate for a vote. “It’s going to become law,” McCarthy told reporters. (Reporting by…
By Steve Gorman (Reuters) -An all-private astronaut team of two Americans and two Saudis, including the first Arab woman sent into orbit, splashed down safely off Florida on Tuesday night, capping an eight-day research mission aboard the International Space Station (ISS). The SpaceX Crew Dragon capsule carrying them parachuted into the Gulf of Mexico off…
By Nevzat Devranoglu ANKARA (Reuters) – Turkey’s central bank signalled at a meeting with senior bankers that it would respond positively to the banks’ requests to soften some measures which it has taken recently, three participants in the meeting said on Wednesday. A government-backed scheme to protect lira deposits from depreciation, known as KKM accounts,…
MEXICO CITY (Reuters) – Mexican retail and bottling giant Femsa said Wednesday it had reached a “definitive” agreement to sell its stake in Jetro Restaurant Depot for $1.4 billion. The transaction will close in the second quarter of this year, when it will receive $467 million upfront, with the final chunk paid in the subsequent…
