By Jason Xue and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – Pressure is mounting on China’s cash-strapped local governments as authorities move to shut a private funding route for their financing arms, according to planned new rules and people familiar with their aims, raising credit risks and default worries. Beijing has been tightening rules on local government…
(Reuters) -Raytheon Technologies said on Tuesday it has received a $1.15 billion contract from the U.S. Air Force for its AIM-120 D-3 and C-8 AMRAAM (Advanced Medium Range Air-to-Air Missiles). Defense budgets have ballooned as the West rushes arms to Ukraine and beefs up funding for future development programs. In recent years, the U.S. Congress…
SEOUL (Reuters) – North Korea on Wednesday criticised U.S. Secretary of State Anthony Blinken’s recent visit to Beijing as a “begging trip” to ease tensions in what it called a policy failure to pressure China. At one of the most significant U.S.-China exchanges since U.S. President Joe Biden took office, Blinken and Chinese President Xi…
SAO PAULO (Reuters) – The president of Brazil’s securities watchdog CVM on Tuesday urged employees from Americanas with information about the retailer’s alleged multi-billion-dollar fraud to give testimony in exchange for potential plea deals. “I would like to encourage you to collaborate with the CVM, because (those involved) will certainly be identified,” CVM chief Joao…
By Joyce Lee SEOUL (Reuters) -The South Korean government has been ordered to pay hedge fund Elliott about $108.5 million, Elliott and the Ministry of Justice said on Tuesday, in an dispute settlement case stemming from the 2015 merger of two Samsung affiliates. The tribunal at the Permanent Court of Arbitration in The Hague partly…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks softened on Tuesday, closing in negative territory as investors began the holiday-shortened week by taking profits in the wake of a sustained rally amid signs of weakening global demand. Federal Reserve Chairman Jerome Powell’s congressional testimony Wednesday could be a potential market mover. All three major…
By Dietrich Knauth (Reuters) – Georgia-Pacific can avoid litigating tens of thousands of asbestos lawsuits while its subsidiary Bestwall remains in bankruptcy, an appeals court ruled Tuesday. In a 2-1 decision, the 4th U.S. Circuit Court of Appeals ruled that extending bankruptcy’s so-called “automatic stay” to protect Georgia-Pacific, which is not bankrupt, would give Bestwall…
BOGOTA (Reuters) – Thousands of anti-government demonstrators marched through Colombia’s major cities on Tuesday to protest the economic and social reforms pushed by the government of leftist President Gustavo Petro. Petro, who took office last August as Colombia’s first left-wing president, won election on promises to cut poverty and inequality and also roll out a…
By Trevor Hunnicutt and Kanishka Singh SAN FRANCISCO (Reuters) -The risks of artificial intelligence to national security and the economy need to be addressed, U.S. President Joe Biden said on Tuesday, adding he would seek expert advice. “My administration is committed to safeguarding Americans’ rights and safety while protecting privacy, to addressing bias and misinformation,…
By Jonathan Stempel NEW YORK (Reuters) – The two people who guaranteed George Santos’ bail will have their names publicly revealed, a federal judge ruled on Tuesday as she rejected the indicted U.S. representative’s claim that disclosure could threaten the guarantors’ safety. U.S. District Judge Joanna Seybert in Central Islip, New York, said the names…
