By Wayne Cole SYDNEY (Reuters) -Australia’s Labor government boasted the first budget surplus in 15 years on Tuesday, as strong jobs growth and bumper mining profits swelled its coffers, but it will quickly be swallowed up by spending on everything from health to energy and defence. In his second budget since winning power in May…
(Reuters) – Shares of regional lenders PacWest Bancorp and Western Alliance resumed their slide in premarket trading on Tuesday as investors feared the ongoing banking crisis could deepen. PacWest dropped 13.6%, a day after the Los Angeles-based lender’s decision to cut its quarterly dividend failed to stem worries about its financial stability. The KBW Regional…
By Chibuike Oguh NEW YORK (Reuters) – Apollo Global Management Inc said on Tuesday its first-quarter adjusted net income fell 8% year-on-year, missing estimates, as a jump in management fees and investment income could not offset the impact of a drop in asset sales. Like its peers, private equity firm Apollo was hit by a…
By Tom Hals WILMINGTON, Delaware (Reuters) – Walt Disney Co and Florida Governor Ron DeSantis have been embroiled in an increasingly bitter dispute, starting when the company criticized a Florida law last year, which has led to dueling lawsuits. THE DISNEY LAWSUIT AGAINST DESANTIS The entertainment giant sued the Republican governor on April 26 in…
By Patrick Wingrove and Michael Erman (Reuters) – Some of the world’s biggest drugmakers are laying legal groundwork to fight the U.S. plan to negotiate drug prices for its Medicare health coverage, including the argument that a ban against speaking about these talks violates constitutional rights, according to six industry sources. The Biden Administration’s signature…
By Wayne Cole SYDNEY (Reuters) – Australia’s Labor government on Tuesday boasted the first budget surplus in 15 years as strong jobs growth and bumper mining profits swelled its coffers, but it will quickly be swallowed up by spending on everything from health to energy and defence. In his second budget since winning power in…
By Jason Lange WASHINGTON (Reuters) – U.S. President Joe Biden is due to meet on Tuesday with the top Republicans and Democrats in Congress amid a months-long standoff over the government’s debt ceiling that has brought the nation close to the brink of default and economic crisis. WHAT IS THE DEBT CEILING? Washington regularly sets…
By Oliver Hirt and Tomasz Janowski ZURICH (Reuters) -UBS Group said on Tuesday that Credit Suisse CEO Ulrich Koerner will stay on after the takeover of its Swiss rival as part of a new leadership team of the combined group. Announcing its leadership reshuffle, UBS also promoted Todd Tuckner, now finance chief of its core…
(Reuters) – A look at the day ahead in U.S. and global markets from Mike Dolan. Nothing is decided yet – on any front. With world markets still at an impasse on the extent of the economic slowdown and chance of recession, the U.S. debt ceiling impasse remains unresolved – and Tuesday’s showdown at the…
TOKYO (Reuters) – Japan and South Korea are set to agree early next month to link their radars via a U.S. system to share real-time information on North Korea’s ballistic missiles, a person with knowledge of the matter said on Tuesday. Defence ministers from Japan, South Korea and the United States plan to reach an…
