GANDHINAGAR, India (Reuters) – Global economic activity is slowing, especially in the manufacturing sector, and medium-term growth prospects remain weak, the chief of the International Monetary Fund told financial leaders of the Group of 20 nations on Tuesday. IMF chief Kristalina Georgieva, speaking to G20 finance ministers and central bank governors in the western Indian…
By Makiko Yamazaki TOKYO (Reuters) – Mitsubishi UFJ Financial Group (MUFG) and Morgan Stanley said on Tuesday they will deepen their 15-year old alliance by combining some operations at their Japanese brokerage joint ventures. The cooperation, to be implemented in the first half of 2024, builds on a partnership that started with MUFG’s $9 billion…
By Ludwig Burger FRANKFURT (Reuters) -Novartis on Tuesday raised its full-year earnings forecast for the second time on strong drug sales and mapped out the planned separation and stock market debut of its generic medicines division Sandoz for early October. The Swiss drugmaker said in a statement it expected group core operating income to grow…
By Nandita Bose WASHINGTON (Reuters) – Movie mogul Jeffrey Katzenberg, who is advising Joe Biden on his re-election campaign, says he sees opportunity in what many consider to be the U.S. President’s biggest vulnerability in the 2024 presidential race – his age. Biden, a Democrat who turned 80 in November, is already the oldest Oval…
By Panu Wongcha-um and Chayut Setboonsarng BANGKOK (Reuters) -Thailand’s prime ministerial hopeful said on Tuesday he was willing to adjust the pace of his Move Forward party’s ambitious reform drive if he becomes premier, but vowed no retreat from a plan to change a law that forbids insulting the monarchy. In an interview with Reuters…
(Reuters) – U.S. Treasury Secretary Janet Yellen said a cooling — but not faltering — labor market is playing a leading role in helping slow inflation, among a raft of factors imposing disinflationary pressures, Bloomberg News reported on Tuesday. Yellen also told Bloomberg in an interview on Monday that the United States was making good…
AMSTERDAM (Reuters) – The European Central Bank (ECB) will look closely for signs of inflation cooling down in the coming months to avoid taking rate hikes too far, governing council member Klaas Knot said in an interview on Tuesday. Referring to the possibility of further rate hikes, Knot said: “For July it is a necessity,…
KUALA LUMPUR (Reuters) – Chinese car maker Geely will invest $10 billion to develop Malaysia’s main auto-making hub, state news agency Bernama quoted Prime Minister Anwar Ibrahim as saying on Tuesday,. Anwar said the plan was conveyed to him in a letter from Geely, which also owns 49.9% of Malaysian car maker Proton, Bernama reported….
By Daniel Wiessner (Reuters) – Uber Technologies Inc must face a California lawsuit claiming it should have covered UberEats drivers’ work-related expenses, the state’s top court said on Monday, in what could be a major blow to companies in the largest U.S. state and a win for labor advocates. The California Supreme Court in a…
(Reuters) – Bank of New York Mellon Corp beat Wall Street targets for second-quarter profit on Tuesday as the U.S. Federal Reserve’s aggressive policy tightening boosted income earned from interest payments on loans. Higher rates have helped several big U.S. banks post strong profit for the quarter and signal a resilient economy, but a pullback…
