By Byron Kaye SYDNEY (Reuters) – Australia’s big banks are pivoting to what analysts say could be a risky fight for growth in the country’s unloved business loans market as a price war ends a decade-long profit bonanza in the mortgage sector. The country’s four largest lenders said this month they would redirect capital and…
By David Lawder, Andrea Shalal WASHINGTON (Reuters) -The U.S. Treasury Department reiterated Monday it expects to be able to pay the U.S. government’s bills only through June 1 without a debt limit increase, increasing pressure on congressional Republicans and the White House to reach a deal in coming days. In her second letter to Congress…
By Ellen Zhang and Joe Cash BEIJING (Reuters) -China’s April industrial output and retail sales growth undershot forecasts, suggesting the economy lost momentum at the beginning of the second quarter and intensifying pressure on policymakers to shore up a wobbly post-COVID recovery. Tuesday’s batch of data, which also showed a further decline in property investment,…
By William Schomberg and Sachin Ravikumar LONDON (Reuters) -Britain’s unemployment rate rose and there were other signs of less inflationary heat in the labour market in data published on Tuesday, prompting investors to scale back some of their bets on further Bank of England interest rate hikes. The jobless rate edged up to 3.9% in…
By Andrew Hay and Steve Gorman (Reuters) -An 18-year-old gunman stalked through a New Mexico neighborhood on Monday firing randomly at bystanders, houses and cars, killing three people and wounding six before police shot him dead outside a church, authorities said. The late-morning shooting spree unfolded in a residential area of Farmington, New Mexico, a…
By Toby Sterling ANTWERP, Belgium (Reuters) – EU industry chief Thierry Breton on Tuesday touted the European Chips Act passed last month, saying Europe must manufacture its own cutting-edge computer chips and not be relegated to a position on research or in building relatively older chips. “With the Chips Act now agreed, we are sending…
(Reuters) -Morgan Stanley is considering a 7% cut in its Asia-Pacific investment banking workforce, or about 40 jobs, according to a source with direct knowledge of the matter. The cuts would mainly impact the investment banking and capital markets business in the region, not including Japan. A Morgan Stanley spokesperson declined to comment. The job…
(Reuters) -Nelson Peltz, the activist investor who launched and then gave up a proxy fight earlier this year at Walt Disney Co, has recently added to his stake in the company, Bloomberg News reported on Monday. Peltz-owned Trian Fund Management has purchased roughly 500,000 more shares since the end of March, giving it a total…
(Reuters) – Tesla Inc CEO Elon Musk has said that the company can make no new hires unless he personally approves them, including contractors, according to a copy of the email seen by Reuters. According to the email, Musk told executives to send him a list of hiring requests on a weekly basis, while also…
(Reuters) – Morgan Stanley is considering a 7% cut in its Asia-Pacific investment banking workforce, with China taking the biggest hit, Bloomberg News reported on Tuesday, citing people familiar with the matter. The bank is likely to start communicating with affected bankers as soon as this week, with more than 40 jobs at risk, including…
