(Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Thursday said that while recent inflation data is moving in the right direction, more progress is needed before she would feel comfortable the Fed has done enough. “Whether we raise another time, or hold rates steady for a longer period — those things are…
By Andrew MacAskill LONDON (Reuters) – China will temporarily pause plans to build a new embassy in London, in a move that may increase diplomatic tensions with Britain when both countries want to repair damaged relations, according to people with knowledge of the situation. Beijing will miss Thursday’s deadline to appeal against the local council’s…
By Phuong Nguyen HANOI (Reuters) -Vietnamese electric vehicle maker VinFast said it expects to start trading on the U.S. Nasdaq as soon as next week after its merger into a special purchase acquisition company (SPAC) was approved on Thursday. Shareholders of Hong Kong-based Black Spade Acquisition, a blank-check company, voted on Thursday to approve the…
By Howard Schneider WASHINGTON (Reuters) -U.S. Federal Reserve officials are in “uncharted waters” with no clear historical guide as they set monetary policy in an environment with inflation falling but no increase as yet in the unemployment rate, Richmond Fed staff said in a new research note analyzing a central bank rate cycle they deemed…
(Reuters) -Coach parent Tapestry said on Thursday it will buy Michael Kors owner Capri Holdings in a deal valued at $8.5 billion, creating a top U.S. fashion house that can better compete with larger European rivals. Here are some other major deals in the global luxury space in the past decade: Deal Details Company Date…
By Casey Hall and Yuvraj Malik (Reuters) -China’s Alibaba Group Holding reported its strongest quarterly revenue growth in almost two years on Thursday as its domestic e-commerce unit focuses on low-cost products to attract consumers amid a sober economic environment. The Chinese e-commerce giant posted first-quarter revenue of 234.16 billion yuan ($32.29 billion), up 14%…
(Reuters) – Debt-laden Chinese developer Country Garden expects to report a net loss for the first half of 2023 and said it would take measures to meet its debt obligations and fix operational issues to get the company back on track, it said on Thursday. The company said it has set up a special task…
BRASILIA (Reuters) – Brazil’s central bank Governor Roberto Campos Neto said on Thursday that improving public revenue would anchor inflation expectations in line with official targets, paving the way for further interest rate cuts. The administration of Brazilian President Luiz Inacio Lula da Silva has promised measures to increase revenue and says they are vital…
(Reuters) – Biotech firm Amyris Inc on Wednesday said it has filed for Chapter 11 bankruptcy in a U.S. court and is planning to sell its consumer brands to improve the company’s liquidity position. Amyris said it has secured a $190 million financing commitment to support day-to-day operations, adding that its entities outside the U.S….
By Danielle Broadway and Dawn Chmielewski LOS ANGELES (Reuters) – Walt Disney Chief Executive Bob Iger on Wednesday said he was committed to finding a solution to the Hollywood writer and actor strikes, citing his “deep respect” for creative professionals, as he signaled a turn from comments that inflamed tensions last month. Iger last month…
