BEIJING (Reuters) – China’s factory gate prices fell faster than expected in May, as faltering demand weighed on manufacturing, impeding the fragile economic recovery, and consumer inflation missed expectations, data showed on Friday. The producer price index (PPI) for May fell for an eighth consecutive month, down 4.6%, the National Bureau of Statistics (NBS) said….
SYDNEY (Reuters) – Commonwealth Bank of Australia, the country’s biggest lender, on Friday put the odds of a recession in Australia this year at 50%, as the impact from the hefty monetary tightening continues to squeeze households. Gareth Aird, head of Australian economics, forecasts economic growth to be 0.7% in the fourth quarter this year,…
(Reuters) – A federal court on Thursday rejected former Justice Department attorney Jeffrey Clark’s request to intervene in a legal disciplinary case pending against him over his efforts to help former President Donald Trump overturn his 2020 election loss. Clark had tried to stop an entity of the District of Columbia bar association from pursuing…
By David Shepardson WASHINGTON (Reuters) -The Biden administration has submitted draft legislation to Congress that would mandate airlines pay cash compensation for delays of three hours or more when carriers are responsible. The proposal sent earlier this week and seen by Reuters would require “cash compensation in an amount commensurate with the inconvenience experienced” when…
MEXICO CITY (Reuters) -Japanese carmaker Toyota will invest $328 million more in a plant in the central Mexican state of Guanajuato, it said on Thursday, as it looks to adapt its production processes for a new hybrid model of its Tacoma pickup truck. “The new version of the ‘Mexican pickup’ will be hybrid electric, which…
MEXICO CITY (Reuters) -Japanese carmaker Toyota will invest $328 million more in a plant in the central Mexican state of Guanajuato, it said on Thursday, as it looks to adapt its production processes for a new hybrid model of its Tacoma pickup truck. “The new version of the ‘Mexican pickup’ will be hybrid electric, which…
By Leika Kihara TOKYO (Reuters) -Japan’s bitter memories of its decades-long battle with deflation hang heavily over the central bank’s deliberations to take its first modest step away from ultra-loose monetary policy, even as inflation and wages creep up. The appointment of Kazuo Ueda as Bank of Japan (BOJ) governor this year and mounting price…
By Leika Kihara TOKYO (Reuters) -Japan’s bitter memories of its decades-long battle with deflation hang heavily over the central bank’s deliberations to take its first modest step away from ultra-loose monetary policy, even as inflation and wages creep up. The appointment of Kazuo Ueda as Bank of Japan (BOJ) governor this year and mounting price…
By David Shepardson WASHINGTON (Reuters) – U.S. Transportation Deputy Secretary Polly Trottenberg is taking over as acting head of the Federal Aviation Administration, the department said on Thursday. President Joe Biden also plans to name Katie Thomson, the FAA’s chief of staff, as deputy administrator, replacing Bradley Mims. Trottenberg’s appointment is effective immediately. She replaces…
By Filipp Lebedev and Gleb Stolyarov (Reuters) -Taiwan-based computer manufacturer Acer supplied at least $70.4 million worth of computer hardware to Russia between April 8, 2022 and March 31, 2023, according to customs data seen by Reuters, after saying it would suspend its business there. While not illegal, Acer’s actions contrast with those of key…
