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…
By Aziz El Yaakoubi RIYADH (Reuters) -Saudi Arabia agreed on Tuesday to buy Turkish drones in the biggest defence contract in Turkey’s history as President Tayyip Erdogan reaped the benefits of his diplomatic push to repair ties with Gulf powers and help Ankara’s struggling economy. Erdogan and Saudi Crown Prince Mohammed bin Salman attended the…
By Aftab Ahmed and Shivangi Acharya GANDHINAGAR, India (Reuters) – Multilateral development banks must create a new funding mechanism and triple sustainable lending by 2030 to eliminate poverty and achieve climate goals, a G20 panel said in a report on Tuesday that called for big changes in the way MDBs operate. The independent panel, headed…
LONDON (Reuters) – England and Wales are on track for the highest quarterly number of company insolvencies since early 2009, as businesses struggle to repay COVID-19 loans against a tough economic backdrop, government figures showed on Tuesday. The Insolvency Service, a government agency, said 2,163 companies were declared insolvent in June, up 27% on a…
A look at the day ahead in U.S. and global markets from Mike Dolan The benign July investment environment gets tested on Tuesday by updates on U.S. retail sales and housing while the corporate earnings season kicks back into gear with another sweep of bank reports. Wall St ended in positive territory on Monday after…
