By David Morgan and Jarrett Renshaw WASHINGTON (Reuters) -Democratic President Joe Biden and top congressional Republican Kevin McCarthy will sit down on Tuesday to try to make progress on a deal to raise the U.S. government’s $31.4 trillion debt ceiling and avert an economically catastrophic default. They have little time to reach a deal. The…
By Maggie Fick LONDON (Reuters) – AstraZeneca has decided to leave the main U.S. drug lobby group, the Pharmaceutical Research and Manufacturers of America (PhRMA), and pursue other ways of engaging in advocacy at the state and federal level, the company said. AstraZeneca decided not to continue its membership after a recent assessment of whether…
By Jamie McGeever ORLANDO, Florida (Reuters) – China’s yuan faces significant long-term obstacles to becoming a global reserve currency of any great import, but the biggest challenge in the near term is the fact that nobody wants to buy Chinese bonds. Foreign investors have been dumping Chinese bonds ever since Russia invaded Ukraine in February…
By James Davey LONDON (Reuters) – Struggling British online fashion retailer Boohoo said this year’s opening of a first distribution centre in the United States has the potential to transform its fortunes in that market as it will slash delivery times to American shoppers. Currently, orders placed in the United States, Boohoo’s largest overseas market,…
By Summer Zhen HONG KONG (Reuters) – Large Asian hedge funds added Chinese education companies to their portfolios in the first quarter of 2023, and bought stocks in U.S. tech giants expected to benefit from ChatGPT and other artificial intelligence systems, regulatory filings showed. Investors poured money into private tutoring leaders, including New Oriental and…
(Reuters) -SAS’s rescue has moved a step closer after a U.S. court approved a revised plan from the Scandinavian airline to raise equity. The long-suffering airline filed for U.S Chapter 11 bankruptcy protection last year. The court approval of the fundraising proposal – a key element of the “SAS Forward” rescue plan – means investors…
LONDON (Reuters) – Buying Teck Resources’ coal business as a standalone unit is a “distant second” for Glencore and Teck should not leave out the Swiss miner if it keeps pursuing its separation plan, boss Gary Nagle told the Bank of America conference in Barcelona on Tuesday. Teck has rebuffed the Swiss miner and trader’s…
By Anna-Catherine Brigida BUENOS AIRES (Reuters) – When Argentine trainee nursery teacher Lourdes, 24, went to the doctor in March seeking to end her pregnancy she was one of the first in the country to be prescribed abortion pill mifepristone after local regulators had approved it fully just weeks earlier. Argentina is the latest country…
By Gabriel Araujo SAO PAULO (Reuters) – France’s Thales SA will provide maintenance services for Brazilian airline Gol in Brazil instead of abroad, the companies outlined on Tuesday in a deal that aims to cut turnaround time and lower costs. Under the deal, Gol Linhas Aereas Inteligentes SA, as the airline is formally known, will…
By Kopano Gumbi PRETORIA (Reuters) – South Africa’s unemployment rate rose in the first quarter after declining for four consecutive quarters last year, data showed on Tuesday, as the country reeled from record power cuts. Unemployment rose to 32.9% in the first three months of 2023 from 32.7% in the final quarter of last year,…
