(Reuters) -The U.S. Department of Defense (DoD) has entered into a $15 million agreement with the U.S. unit of Australian miner Jervois Global Ltd to conduct feasibility studies on expanding cobalt extraction in Idaho, to decrease reliance on overseas mineral sources. The agreement will enable Jervois Mining USA to undertake mineral resource drilling to expand…
By Leika Kihara TOKYO (Reuters) -One of Bank of Japan Governor Kazuo Ueda’s biggest challenges will be to phase out a controversial yield curve control policy, which is criticised for distorting markets by keeping long-term interest rates low despite creeping inflation. While Ueda has stressed the BOJ will be in no rush to dial back…
By Leika Kihara TOKYO (Reuters) -One of Bank of Japan Governor Kazuo Ueda’s biggest challenges will be to phase out a controversial yield curve control policy, which is criticised for distorting markets by keeping long-term interest rates low despite creeping inflation. While Ueda has stressed the BOJ will be in no rush to dial back…
(Reuters) – The U.S. Justice Department will review the PGA Tour’s plan to merge with Saudi-backed LIV Golf to determine if it violates antitrust law, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The PGA Tour, DP World Tour and rival Saudi-backed LIV circuit, which had been involved in a…
By Kevin Yao BEIJING (Reuters) -China will roll out more stimulus to support a slowing economy this year, but concerns over debt and capital flight will keep measures targeted at shoring up weak demand in the consumer and private sectors, sources involved in policy discussions said. The world’s second-largest economy stumbled in May with data…
By Noel Randewich and Shristi Achar A (Reuters) – The S&P 500 and Nasdaq surged on Thursday to close at their highest in 14 months, as investors cheered economic data that fueled bets that the U.S. Federal Reserve is nearing the end of its aggressive interest-rate hike campaign. Treasury yields slid after a slew of…
By Lisa Baertlein and David Shepardson LOS ANGELES/WASHINGTON (Reuters) -U.S. business groups on Thursday said a “hard-fought” six-year labor deal tentatively agreed between U.S. West Coast seaport employers and the union representing 22,000 workers should avoid economic harm and urged both sides to ratify it quickly. The tentative deal was announced on Wednesday and followed…
By Dan Whitcomb (Reuters) – A New York ethics board on Thursday ordered former Mayor Bill de Blasio to pay a record $474,794 for using city funds for a security detail during his long-shot 2019 presidential campaign, finding that he violated conflict of interest laws. The city’s Conflicts of Interest Board said de Blasio had…
(Reuters) – The U.S. Federal Deposit Insurance Corporation has begun a sale of failed Silicon Valley Bank’s German assets, seeking bids for the lender’s $460 million portfolio of loans, leases and other assets, the Financial Times reported on Thursday. Details of the sale were disclosed in marketing materials sent to large investors in recent days…
By Jonathan Stempel NEW YORK (Reuters) – JPMorgan Chase urged a federal judge to reject the U.S. Virgin Islands’ demand that Chief Executive Jamie Dimon sit for a second deposition for its lawsuit about the bank’s long relationship with Jeffrey Epstein. In a letter made public on Thursday, the largest U.S. bank said Dimon made…
