Yellen hopes to travel to China to ‘reestablish contact’

(Reuters) -U.S. Treasury Secretary Janet Yellen said she hopes to travel to China to reestablish contact with Beijing, acknowledging there were disagreements between the two countries, MSNBC on Wednesday reported her saying during an interview. The are heightened tensions and pessimism in the U.S.-China relationship over national security issues, including Taiwan, Russia’s war in Ukraine,…

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US banks shrug off turmoil to ace Fed’s annual health checks

By Pete Schroeder WASHINGTON (Reuters) -Big U.S. banks sailed through the Federal Reserve’s annual health check on Wednesday, in a vote of confidence for a sector still recovering from turmoil earlier this year and facing an uncertain economic outlook. The Fed’s “stress test” exercise showed lenders, including JPMorgan Chase, Bank of America, Citigroup, Wells Fargo,…

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Inflation hits royal finances as King Charles turns down heating to save emissions

LONDON (Reuters) – Soaring inflation has hit the finances of the British royals, pushing up expenditure, Buckingham Palace said on Thursday, as it revealed King Charles had ordered the heating in royal homes to be turned down to cut emissions. The annual Sovereign Grant report, which details the royals’ taxpayer-funded spending and income, detailed that…

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Brands focus on stories in refining China livestreaming to boost profits

By Casey Hall SHANGHAI (Reuters) – When tech giant Apple joined China’s livestreaming frenzy, a major driving force of the e-commerce boom in the world’s second biggest economy, it launched without deep discounts or a celebrity host to pull millions of viewers. Yet Apple’s show, hosted by product experts offering tips on making movies with…

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EV maker Lordstown Motors begins bankruptcy embroiled in disputes

By Dietrich Knauth NEW YORK (Reuters) – U.S. electric truck manufacturer Lordstown Motors began its bankruptcy case embroiled in litigation, laying out disputes with estranged partner Foxconn, rival electric vehicle manufacturer Karma Automotive, the U.S. Securities and Exchange Commission and several investor groups during its first court appearance. Lordstown filed for bankruptcy protection in Wilmington,…

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Oracle spending ‘billions’ on Nvidia chips this year – Ellison

By Stephen Nellis MENLO PARK, California (Reuters) – Oracle Corp is spending “billions” of dollars on chips from Nvidia Corp as it expands a cloud computing service targeting a new wave of artificial intelligence (AI) companies, Oracle founder and Chairman Larry Ellison said on Wednesday. Oracle’s cloud division is working to gain ground against larger…

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Smoke hangs over U.S. Midwest, East, hurting air quality

By Brendan O’Brien and Kanishka Singh CHICAGO/WASHINGTON (Reuters) -Hazy, smoke-filled skies from raging Canadian wildfires hovered Wednesday over the U.S. Midwest and East, where millions of Americans were urged to limit outdoor activities as the poor air quality made for dangerous, unhealthy conditions. Much of the Midwest – from western Iowa through Illinois and Wisconsin…

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