By Dawn Chmielewski LOS ANGELES (Reuters) – In what would be a sign of progress in a months-long labor dispute, striking Hollywood writers were expected to respond this week to the latest contract proposal from the major studios, according to two sources with knowledge of the talks. One of the sources said the negotiating team…
(Reuters) – Electric vehicle startup Fisker said on Tuesday it signed a deal with Tesla to adopt its North American Charging Standard (NACS), giving Fisker customers access to the automaker’s Supercharger network by 2025. A plethora of automakers, including Ford Motor and General Motors, are moving away from the standard Combined Charging System (CCS) connector…
By Marc Jones LONDON (Reuters) -JPMorgan ramped up its 2023 global emerging market corporate high yield (HY) default rate forecast to 9.7% from 6% on Tuesday following the latest wave of problems in China’s property sector. The U.S. investment bank said Chinese property firms were expected to account for nearly 40% of 2023’s corporate default…
By Rodrigo Campos NEW YORK (Reuters) – Investors in Argentina’s financial markets, where bonds and the peso slid on Monday after central bank moves following a surprise primary election result, said the vote had a silver lining: it would likely hasten long-called-for economic reforms. The Sunday primary, an open vote that acts as a dress…
(Reuters) – An analyst at Fitch Ratings warned that U.S. banks, including JPMorgan Chase, could be downgraded if the agency further cuts its assessment of the operating environment for the industry, according to a report from CNBC on Tuesday. In June, Fitch lowered the score of the U.S. banking industry’s “operating environment” to AA- from…
(Reuters) – Social media company X, formerly known as Twitter, will no longer allow advertisers to promote their accounts within the platform’s timeline to attract new followers, Axios reported on Tuesday, citing an email to advertising clients. Promoted accounts, or “Follower Objective” ads, generate more than $100 million annually in global revenue for X, according…
(Reuters) – J.P. Morgan said on Tuesday China’s residential property market could see a sharper-than-expected slump this year following downbeat government sales and investment data for the sector. Analysts at the brokerage now expect China’s residential sales value for fiscal 2023 to contract 10%, compared with a 4% drop estimated earlier. Investments into China’s property…
COPENHAGEN (Reuters) – Danish brewer Carlsberg on Tuesday lifted its profit guidance for the full year after a “solid business performance” in the first half of the year. The world’s third-biggest brewer said it now expects organic operating profit growth this year of between 4% and 7%, versus a previous range of minus 2% to…
By Lewis Jackson SYDNEY (Reuters) – Negotiations between Chevron, Woodside Energy Group and Australian unions on Tuesday are unlikely to yield results for days because unions will need to consult members on any decision, according to a source with knowledge of the matter that was not authorised to speak to media. Chevron and Woodside negotiated…
By Kopano Gumbi PRETORIA (Reuters) -South Africa’s official unemployment rate dropped marginally in the second quarter to 32.6%, its lowest level since the first quarter of 2021, data showed on Tuesday. Statistics South Africa said the number of people with jobs rose to 16.3 million in April-June, approaching the pre-COVID level of 16.4 million and…
