By Koh Gui Qing SEATTLE (Reuters) – Some insurers operating in the United States stand to reap a windfall worth hundreds of millions of dollars from the relaxing of a 31-year-old rule on reporting interest rate-related losses, a Reuters review of regulatory filings and interviews with executives and analysts show. U.S. regulators who met in…
MOSCOW (Reuters) – Russia’s central bank will hold an extraordinary meeting on Tuesday to discuss the level of its key interest rate, it said on Monday, as the sharply weakening rouble prompted calls for higher borrowing costs. President Vladimir Putin’s economic adviser rebuked the central bank on Monday as the rouble slid past 101 per…
WASHINGTON (Reuters) -The appointment of an outside prosecutor to investigate President Joe Biden’s son Hunter means there are now three special counsel inquiries that could figure prominently in next year’s election. Attorney General Merrick Garland tapped David Weiss on Friday to review whether Hunter Biden violated federal tax and gun laws. Weiss signaled that he…
By Clare Jim and Shuyan Wang HONG KONG/BEIJING (Reuters) – China’s largest private real estate developer Country Garden is seeking to delay payment on a private onshore bond for the first time, the latest sign of a stifling cash crunch in the property sector, piling pressure on Beijing to step in. Adding to worries about…
(Reuters) -Turmoil at China’s largest private developer Country Garden could set off a “vicious cycle” of financing stress on the country’s real estate investment trusts (REITs), brokerage J.P. Morgan warned on Monday. The brokerage flagged issues at Chinese conglomerate Zhongzhi Enterprise Group, after two Chinese listed companies said they had not received payment on maturing…
By Ariba Shahid KARACHI, Pakistan (Reuters) – Anwaar-ul-Haq Kakar, a little-known politician who is believed to be close to the military, was sworn in as Pakistan’s caretaker prime minister on Monday to oversee national elections as the country navigates political and economic crises. Kakar, from the southwestern province of Balochistan, will name a cabinet and…
By Medha Singh (Reuters) – AMC Entertainment’s shares slid 35% on Monday on fears that the approval of a revised stockholder settlement will allow the company to issue more shares to raise capital, a move that will dilute the worth of each common share. The common shares dropped to $3.45, levels just before the meme…
BUENOS AIRES (Reuters) – Argentina’s central bank will raise the benchmark interest rate to 118% from 97% previously, an official source said Monday, adding the country’s currency will be devalued to 350 pesos per dollar in the aftermath of a shock primary election. Sunday’s primary vote, seen as a reliable bellwether for the upcoming presidential…
(Reuters) – Electric-vehicle startup Canoo said on Monday it finalized incentive agreements with the state of Oklahoma and the North American tribe Cherokee Nation, for an estimated value of $113 million over 10 years. As part of the agreements, Canoo said it has already started hiring for its vehicle assembly facility in Oklahoma City and…
JAKARTA (Reuters) – Indonesia said on Monday that U.S. electric carmaker Tesla plans to invest in the manufacturing of battery materials in the Southeast Asian country and will make an announcement in the next few months. Indonesia has for years been wooing Tesla to invest in battery making and car manufacturing in the country, trying…
