(This story has been corrected to change the dateline to June 12) (Reuters) – Most big Wall Street banks expect the Federal Reserve to keep interest rates unchanged on Wednesday, while sticking to its hawkish tone due to a strong job market and elevated inflation. Several economists say that it is a toss-up between a…
LONDON (Reuters) – Global miner Glencore, Chrysler parent Stellantis and Volkswagen’s battery unit PowerCo have agreed to back a $1 billion deal by blank-cheque fund ACG Acquisition Company to buy two mines in Brazil, ACG said on Monday. The deal comes as a mining M&A spree picks up, spurred in part by investors betting on…
(Reuters) -Fox News has sent a “cease-and-desist” letter to Tucker Carlson over a competing Twitter series from the channel’s former star host that drew a combined 169 million views for its first two episodes, Axios reported on Monday. Last week, Axios said the news organization had notified Carlson’s legal team of contract violations related to…
By Gus Trompiz PARIS (Reuters) – Record pig prices could have spurred farmers like Carole Joliff to expand their herd, but costly livestock regulations, flagging demand and spreading swine disease point instead to a long-term decline in the European Union, the world’s top pork exporter. “We’re flying blind,” Joliff, who farms in France’s pig-breeding heartland…
By Paritosh Bansal (Reuters) -‘De-risk, not decouple’ are the new buzzwords for Western policy toward China, drawing skepticism from Beijing about whether there is any difference between the two. For businesses caught in the middle, the semantics are beside the point. As tensions between Western allies and Beijing ratchet up over a litany of disputes,…
By Gus Trompiz PARIS (Reuters) – Record pig prices could have spurred farmers like Carole Joliff to expand their herd, but costly livestock regulations, flagging demand and spreading swine disease point instead to a long-term decline in the European Union, the world’s top pork exporter. “We’re flying blind,” Joliff, who farms in France’s pig-breeding heartland…
LONDON (Reuters) – Morgan Stanley has become the latest Wall Street bank to turn bullish on local emerging market bonds, though its strategists said they remained wary of developing economies’ currencies in the face of a dollar that is set to remain strong. “We upgrade our stance on EM local currency bonds to bullish, where…
SHANGHAI (Reuters) -Nio said on Monday it would lower prices for all its models and end free battery swapping services to new buyers, as the Chinese electric vehicle maker faces mounting pressure over earnings losses and lukewarm sales. Nio will cut prices by 30,000 yuan ($4,200) for all models including its revamped ES6 and ES8…
LONDON (Reuters) -Prime Minister Rishi Sunak said on Monday Britain could be the global home of artificial intelligence regulation as he pitched London as a tech hub to industry leaders and urged them to grasp the opportunities and challenges of AI. Sunak’s government will host a summit on the risks and regulation of AI later…
ZURICH (Reuters) – UBS followed up the announcement it had closed the takeover of stricken rival Credit Suisse on Monday with a raft of management changes. Here are the highlights: OUT Leaving the company: * Credit Suisse General Counsel Markus Diethelm. The bank appeared to be more willing to settle legal matters during his tenure…
