NEW DELHI (Reuters) -India has imposed a limit on the amount of wheat stocks traders can hold in an effort to bring down prices, food secretary Sanjeev Chopra told reporters on Monday. The world’s second biggest wheat producer will also provide 1.5 million tonnes of wheat to bulk consumers such as flour millers, as part…
By David Shepardson (Reuters) – General Motors plans to invest $632 million in its Fort Wayne, Indiana, assembly facility to prepare the plant for future internal combustion engine full-size light duty trucks, it said on Monday. The investment will be used to support new conveyors, tooling and equipment for the plant that manufactures GM’s Chevrolet…
By Noele Illien ZURICH (Reuters) -UBS completed its emergency takeover of embattled local rival Credit Suisse on Monday, forging a Swiss banking and wealth management giant with a $1.6 trillion balance sheet. Marking the closing of the biggest banking deal since the 2008 financial crisis, UBS Chief Executive Sergio Ermotti and Chairman Colm Kelleher said…
WASHINGTON (Reuters) -U.S. Secretary of State Antony Blinken on Monday said he would like to see Tunisia present a revised reform plan to the International Monetary Fund (IMF), adding that it is clear Tunisia needs additional assistance. “We very much would welcome the Tunisian government presenting a revised reform plan to the IMF and for…
WASHINGTON (Reuters) – The United States has asked Mexico to review whether workers at a denim garment factory in the Mexican state of Aguascalientes are being denied the right to freedom of association and collective bargaining, the U.S. Trade Representative’s office said on Monday. U.S. Trade Representative Katherine Tai said the request regarding a garment…
(Reuters) – The U.S. budget deficit swelled in May from a year earlier as revenue tumbled and Medicare spending surged, the Treasury Department said on Monday in its first monthly accounting of the government’s finances since a deal was reached to suspend the debt limit and avoid a first-ever federal default. The May deficit shot…
WASHINGTON (Reuters) – U.S. District Judge Leo Sorokin on Monday delayed the effective date of a permanent injunction after ruling American Airlines and JetBlue Airways must end their Northeast Alliance (NEA) they used to coordinate flights and pool revenue. Sorokin initially said the injunction would take effect June 20. He said Monday he would now…
By Erikas Mwisi Kambale BENI, Democratic Republic of Congo (Reuters) -More than 45 civilians were killed in a militia attack on a camp for displaced people in eastern Democratic Republic of Congo’s Ituri province early on Monday, the United Nation’s peacekeeping mission said. The Cooperative for the Development of the Congo (CODECO) group, one of…
By Hernan Nessi BUENOS AIRES (Reuters) – Argentina’s monthly inflation rate likely sped up to 8.8% in May, according to analysts polled by Reuters, as prices in the South America country continue to soar despite a cooling trend in other countries around the region. Argentina is battling soaring inflation likely to end the year near…
By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Broadcom is set to gain conditional EU antitrust approval for its $61 billion proposed acquisition of cloud computing firm VMware, people familiar with the matter said, sending its shares up by almost 5%. The European Commission’s clearance is tied to remedies relating to Broadcom’s interoperability with…
