By Pete Schroeder WASHINGTON (Reuters) -Longer-dated U.S. Treasury yields hit a 10-month high Thursday as Wall Street accelerated losses into the close and investors grappled with the potential for longer-lasting high interest rates and a struggling Chinese economy. Benchmark 10-year yields reached 4.312% in trading and tested October’s 4.338%, before moving lower to 4.29%. The…
By David Lawder WASHINGTON (Reuters) -The United States on Thursday escalated its objections to Mexico’s curbs on genetically modified corn imports, requesting a dispute settlement panel under the North American trade pact, the U.S. Trade Representative’s office said. The request to send the dispute to arbitrators was announced after formal consultations failed to resolve deep…
(Reuters) – Legendary investor Ray Dalio, a big enthusiast and investor in China, said on Thursday the world’s second largest economy is overdue in conducting a “big debt restructuring.” “As for the debt and the economy, there is an obvious need for a big debt restructuring of the sort that Zhu Rongji engineered in the…
By Michael S. Derby NEW YORK (Reuters) – Ahead of the July Federal Reserve meeting, banks and money managers projected the hike in interest rates they expected for that gathering would be the last the central bank delivered, according to New York Federal Reserve surveys released Thursday. At the last Federal Open Market Committee, officials…
By Anna-Catherine Brigida BUENOS AIRES (Reuters) – When Ernesto Acuna, a convenience store owner in Buenos Aires, received the new price list this week from his supplier of the snacks, condiments, sodas and ice creams he sells, he was shocked to find costs on some had risen 60% since late July. The price list, updated…
By Daniel Wiessner (Reuters) – A U.S. judge in Florida on Thursday declined to block the state’s law barring citizens of China and other “countries of concern” from owning homes or land in the state. U.S. District Judge Allen Winsor in Tallahassee, Florida, said that because the ban is based on citizenship and not race…
By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) – The striking Writers Guild of America (WGA) on Thursday urged federal regulators to increase their oversight of the streaming media business, saying Walt Disney, Amazon.com and Netflix had amassed too much power. The guild, which has been on strike since May 2, issued a report…
By Chris Prentice and Brenna Hughes Neghaiwi NEW YORK/ZURICH (Reuters) – Swiss lender Credit Suisse did not review all available records when it conducted an internal probe into the historical servicing of Nazi clients and Nazi-linked accounts, according to an investigation published by U.S. lawmakers on Thursday. The bank failed to include numerous relevant records…
(Reuters) – Pfizer Inc said on Thursday its updated COVID-19 shot, which is being tested against emerging variants, showed neutralizing activity against the “Eris” subvariant in a study conducted on mice. Pfizer, along with its German partner BioNTech SE, as well as other COVID-19 vaccine makers Moderna and Novavax have created versions of their shots,…
By Siddharth Cavale and Aishwarya Venugopal NEW YORK (Reuters) – Resilient U.S. consumer spending drove Walmart’s better-than-expected second-quarter results and forecast hike but its international business on Thursday posted its best quarterly performance in several years. The retail behemoth’s international business, which spans 19 countries, posted a 13.3% jump in sales during the second quarter,…
