WASHINGTON (Reuters) -U.S. wholesale inventories were unchanged in May after declining for two straight months, suggesting inventory investment could support economic growth in the second quarter. The Commerce Department said on Monday that wholesale inventories were unchanged instead of dipping 0.1% as previously reported last month. Stocks at wholesalers fell 0.3% in April. Economists polled…
TORONTO (Reuters) – Canada’s finance ministry has extended the consultation period for Royal Bank of Canada’s $13.5 billion proposed acquisition of HSBC’s Canadian unit by 15 days due to a technical error that prevented the department from receiving some submissions by email. The Finance Department said the technical issue has now been resolved and stakeholders…
By Simon Jessop LONDON (Reuters) – Sustainability-focused asset manager LeapFrog Investments said it plans to invest $500 million in companies addressing climate change in Asia and Africa, with projects it hopes will reach up to 50 million low-income people. The commitment was announced at the Climate Finance Mobilisation Forum in Britain on Monday, attended by…
(This July 5 story has been corrected to fix the director’s name in paragraph 3) By Rachel Nostrant NEW YORK (Reuters) – Four shark attacks were reported off the coast of New York’s Long Island over the holiday weekend, extending a recent spike in such encounters in state waters, but authorities said the victims suffered…
(Reuters) – The Republican-led U.S. House of Representatives Oversight Committee on Monday asked Federal Reserve Chair Jerome Powell to hand over confidential documents related to the central bank’s supervision of failed Silicon Valley Bank. Committee chair James Comer, in a letter to Powell published on the panel’s website, also asked for documents related to Fed…
By Ananya Mariam Rajesh (Reuters) -Constellation Brands’ Modelo Especial was the top-selling beer brand in the United States for a second consecutive month in June, after first dethroning Anheuser-Busch InBev’s Bud Light in May. Bud Light, which held the top spot as the most-sold beer in 2022 and in the first four months of this…
By Huseyin Hayatsever and Ece Toksabay ISTANBUL (Reuters) – Turkish President Tayyip Erdogan, in an unexpected move, said on Monday the European Union should open the way for Ankara’s accession to the bloc before Turkey’s parliament approves Sweden’s bid to join the NATO military alliance. Turkey’s bid to join the EU has been frozen for…
(Reuters) -Bankrupt SVB Financial Group has sued the U.S. Federal Deposit Insurance Corp (FDIC) to recover the $1.93 billion that the regulator seized while it took over Silicon Valley Bank in March, a filing in a bankruptcy court on Sunday showed. The group said inability to access the funds was affecting its reorganization as the…
By John Irish and Andrius Sytas VILNIUS (Reuters) -Ukraine’s largest Western allies are still finalising a joint framework that would pave the way for long-term security assurances for Kyiv, and may wait until the end of a NATO summit this week to announce them, European diplomats say. The 31-member NATO alliance meets in Lithuania on…
By Dhwani Pandya MUMBAI (Reuters) -Godrej Aerospace is in talks to build aircraft parts for suppliers to Airbus and Boeing as airlines place record jet orders, a top executive at the Indian company said. Air India and IndiGo between them have nearly 1,000 new planes on order, said Maneck Behramkamdin, associate vice president and business…
