Raphael Bostic, the president of the Federal Reserve Bank of Atlanta, said Monday he does not expect any interest-rate cuts this year because inflation is likely to be stickier than those in markets believe, and if anything “we may have to go up”. “The appropriate policy is really just to wait and see how much…
PARIS (Reuters) – US electric car manufacturer Tesla will make significant investments in France, its CEO Elon Musk said in Versailles on Monday, adding that he could not give a timetable. Asked after a meeting with French President Emmanuel Macron whether Tesla planned to announce investments in France, Musk said “I think at some point,…
(Reuters) – Russia spent 2 trillion roubles ($26 billion) on defence in January and February alone, a 282% jump on the same period a year ago, data on the budget portal showed, illustrating the spiralling costs for Moscow of its conflict in Ukraine. Rising military production and huge state spending are keeping Russia’s industry buzzing…
(Reuters) -Republic First Bancorp said on Monday it had “adequate” capital and would wait for market conditions to stabilize before rounding out the $125-million fundraise it had announced in March. The lender is seeking more “acceptable” terms for the capital raise and also looking for more participants after securing the backing of alternative asset management…
By Foo Yun Chee BRUSSELS (Reuters) -Microsoft Corp gained EU antitrust approval for its $69 billion acquisition of Activision on Monday, in a significant boost that could prompt Chinese and Korean regulators to follow suit despite a British veto of the deal. The U.S. software giant still faces a battle to clinch a deal. It…
WASHINGTON (Reuters) – The New York Federal Reserve said on Monday its barometer of manufacturing activity in New York State plunged in May, but the survey is extremely volatile, making it harder to interpret. The regional Fed’s “Empire State” index on current business conditions plummeted 42.6 points to -31.8 this month. A reading below zero…
By Dmitry Zhdannikov, Marwa Rashad and Christoph Steitz LONDON/FRANKFURT (Reuters) – German energy firms Sefe and Uniper have awarded some traders millions of dollars in bonuses for 2022, four sources familiar with the matter said, just months after the companies were rescued with multi-billion bailouts as Russia halted gas supplies. Germany has so far provided…
By Maki Shiraki and Makiko Yamazaki TOKYO (Reuters) – Kioxia Holdings Corp and Western Digital Corp are speeding up merger talks and nailing down a deal structure, two sources with direct knowledge of the matter said, as a slumping flash memory market puts fresh consolidation pressure on the world’s No. 2 and No. 4 players….
By Scott Murdoch and Himanshi Akhand (Reuters) -Australia’s InvoCare Ltd shares jumped nearly 12% on Monday after it revealed a higher A$1.86 billion ($1.26 billion) offer from global private equity firm TPG had been tabled just weeks after it rejected a lower bid it said undervalued the funeral services provider. Shares of InvoCare rose to…
