By David Lawder WASHINGTON (Reuters) -The World Bank on Tuesday raised its 2023 global growth outlook as the U.S., China and other major economies have proven more resilient than forecast, but said higher interest rates and tighter credit will take a bigger toll on next year’s results. Real global GDP is set to climb 2.1%…
By Stephanie van den Berg and Anthony Deutsch THE HAGUE (Reuters) -Ukraine on Tuesday called Russia a terrorist state at the top U.N. court as hearings began in a case over Moscow’s backing of pro-Russian separatists blamed for shooting down Malaysian Airlines Flight MH17 in 2014. It was the first time lawyers for Ukraine and…
By David Lawder WASHINGTON (Reuters) -The World Bank on Tuesday raised its 2023 global growth outlook as the U.S., China and other major economies have proven more resilient than forecast, but said higher interest rates and tighter credit will take a bigger toll on next year’s results. Real global GDP is set to climb 2.1%…
ZURICH (Reuters) -UBS expects to finalize its agreement with the Swiss government to cover up to 9 billion Swiss francs ($9.92 billion) in losses from its emergency takeover of Credit Suisse by June 7, the Swiss bank said in a regulatory filing published on Tuesday. Under the terms of the takeover orchestrated by Swiss authorities…
(Reuters) – Ford Motor Co on Tuesday named Whirlpool Corp’s Liz Door its chief supply chain officer, at a time when the automaker navigates through parts shortages and rising costs. The appointment, effective June 12, comes as the company predicts a difficult 2023, blaming chip shortages and other supply chain issues and production instabilities. The…
By Guy Faulconbridge MOSCOW (Reuters) -A huge Soviet-era dam on the Dnipro River that separates Russian and Ukrainian forces in southern Ukraine was breached on Tuesday, unleashing floodwaters across the war zone. Ukraine said Russia had destroyed it, while Russia said Ukraine sabotaged it to cut off water supplies to Crimea and distract attention from…
By Asif Shahzad and Ariba Shahid ISLAMABAD (Reuters) -Pakistan on Tuesday approved an estimated 3.5% GDP growth target for its 2023-24 financial year budget, the country’s Planning Minister Ahsan Iqbal said. Prime Minister Shehbaz Sharif’s government is set to present the annual budget on Friday, at a time when the South Asian country faces its…
NEW YORK (Reuters) – Shares of retirement services provider Corebridge Financial fell more than 6% on Tuesday as parent American International Group Inc looks to sell down its controlling stake. Insurance giant AIG will sell 65 million shares, or about 10% of its total Corebridge holding, which is valued at nearly $1.1 billion. The share…
(Reuters) – General Electric Co is offering 25 million of common stock, or an over $2 billion stake, in GE HealthCare Technologies Inc, according to a regulatory filing on Monday. Under the debt-for-equity exchange agreement, GE is expected to exchange 28.75 million GE HealthCare shares for debt held by affiliates of Morgan Stanley, GE HealthCare…
By David Lawder WASHINGTON (Reuters) – The World Bank on Tuesday raised its 2023 global growth forecast as the U.S. and other major economies have proven more resilient than forecast, but said higher interest rates would cause a larger-than-expected drag next year. Real global GDP is set to climb 2.1% this year, the World Bank…
