WASHINGTON (Reuters) – U.S. private payrolls increased more than expected in May, suggesting that the labor market was slowing only gradually, which could result in the Federal Reserve keeping interest rates elevated for some time. Private payrolls increased by 278,000 jobs last month, the ADP National Employment report showed on Thursday. Data for April was…
By Roman Churikov MOSCOW (Reuters) – Russian designers and brands are helping the retail sector gradually recover from a turbulent 15 months of store closures and slumping demand, with new labels plugging the gap left by foreign rivals and shoppers tentatively returning. Hundreds of foreign retailers shut up shop in response to Russia despatching troops…
(Reuters) – Nvidia Corp’s market capitalisation jumped the most in May among the top 20 global companies by market value, adding $248 billion, with a majority of the gains coming in the last four sessions, according to Refinitiv data. The chipmaker briefly joined the $1 trillion valuation club, as investors bet on its potential to…
By Caroline Valetkevitch (Reuters) – Investors gave a muted welcome to the U.S. House of Representatives passing a bill that would suspend the government’s borrowing limit and avert default, with market focus now turning to the Senate and the interest rate outlook. Asian markets were trading higher when the bill cleared the house and held…
By Byron Kaye SYDNEY (Reuters) -One of Australia’s most decorated soldiers lost a defamation lawsuit against three newspapers that accused him of involvement in the murder of six Afghans while on deployment, a stunning end to a case that lifted the veil of secrecy over the elite SAS. The newspapers proved four of the six…
(This May 31 story has been corrected to clarify that Jordan’s comment referred to another bank and not Credit Suisse, in paragraph 9) ZURICH (Reuters) – Swiss National Bank Chairman Thomas Jordan on Wednesday defended recent interest rate hikes to tackle inflation, saying they were neither damaging for Swiss financial stability nor responsible for the…
By Maria Martinez BERLIN (Reuters) – Rising rents, less venture capital and a shortage of talent are taking the shine off Berlin as a hub for startups. “The one single thing more difficult to find in Berlin than an apartment is a programmer,” said Avitosh Sawhney, 36, who moved his tech startup Ynertia to the…
By Huw Jones LONDON (Reuters) – How rules are applied to banks and the calculation of their liquidity buffers should be reviewed following recent turmoil in the banking sector, Klaas Knot, chair of the G20’s Financial Stability Board said on Thursday. European banking stocks plunged after the collapse of Silicon Valley (SVB) bank in the…
(Reuters) -Dollar General Corp cut its full-year same-store sales and profit forecasts on Thursday as inflation-hit Americans, discouraged by higher prices for everything from home goods to consumables, tightened spending. The company’s shares slid about 9% in premarket trading after it also posted weaker-than-expected first-quarter results. American shoppers, economically strained by sticky food inflation, have…
By Tetsushi Kajimoto TOKYO (Reuters) -Japanese Prime Minister Fumio Kishida said on Thursday that the government would issue special bonds aimed at filling a projected funding gap as it boosts child care support towards 2030, as the proportion of young people in the population falls more sharply. Kishida has made new child care measures one…
