By Howard Schneider WASHINGTON (Reuters) – The outlook from U.S. Federal Reserve officials at their meeting this week sees interest rate cuts beginning next year, relief, it would seem, from the ratcheting up of borrowing costs that has been underway since the spring of 2022 and left consumers and businesses grousing about their mortgages and…
MADRID (Reuters) – Ferrovial’s decision to move its holding company to the Netherlands to try to speed up a U.S. listing could have an adverse impact on its brand in Spain, the company said in a document published on Thursday. The Spanish construction giant, which is expected to complete a dual listing in Amsterdam and…
(Reuters) – ChatGPT will soon hit the road. Mercedes-Benz on Thursday said U.S. drivers could power some of their luxury vehicles with ChatGPT in a test program starting June 16. Compatible with some 900,000 vehicles that have the automaker’s “MBUX” systems, ChatGPT will download over the air after drivers opt in via a Mercedes app…
By Julie Zhu, Kane Wu and Selena Li HONG KONG (Reuters) -Goldman Sachs Group is cutting more than 30 banking jobs in Asia, two sources with knowledge of the matter said, as a challenging markets environment weighs on Wall Street banks’ dealmaking and trading revenues. The reduction in regional jobs, most of which are in…
By Paul Sandle LONDON (Reuters) -It has taken months of tortuous negotiations for Vodafone and CK Hutchison to agree a deal to create Britain’s biggest mobile operator, but from a regulatory standpoint the hard work is only just beginning. The $19 billion tie-up will be scrutinised by Britain’s Competition and Markets Authority, the antitrust regulator…
(Reuters) – Canadian companies across industries have laid off thousands in recent months as a post-pandemic spending splurge fades and rising interest rates fan fears of a possible recession. The cuts mirror the tens of thousands of layoffs seen in the United States, where major companies such as Meta Platforms have carried out multiple rounds…
(Reuters) – Oreo-maker Mondelez International said on Thursday it has scaled down operations in Russia and plans to make it a stand-alone business with a self-sufficient supply chain before the end of the year. The Chicago-based snack maker, which has faced a widening corporate boycott in the Nordic region over its presence in Russia, said…
By Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) -European shares slipped on Thursday after the European Central Bank (ECB) raised borrowing costs as expected and signalled more policy tightening in its fight against sticky inflation. The continent-wide STOXX 600 index closed 0.1% lower after falling as much as 0.8% earlier in the day. The ECB…
By Granth Vanaik (Reuters) – Supermarket chain Kroger in a cautious move on Thursday reaffirmed its annual forecasts after it beat Wall Street estimates for first-quarter profit and same-store sales on steady demand for essentials and easing supply chain costs. Shares of the retailer, which had consistently raised its outlook over the past two years,…
By Nafisa Eltahir and Khalid Abdelaziz CAIRO/DUBAI (Reuters) – The conflict in Sudan hit the two-month mark on Thursday with no sign of a resolution as diplomatic peace efforts hit roadblocks and the risk of a broader ethnic war rises. Fighting between the army and paramilitary Rapid Support Forces (RSF), which a U.S. diplomat earlier…
