By Suban Abdulla LONDON (Reuters) – Britons face the biggest tax-raising drive since the start of former prime minister Margaret Thatcher’s term of office in the coming years as more people are pushed into paying the top rate of income tax, a leading think tank said on Tuesday. The independent Institute for Fiscal Studies (IFS)…
By Carolina Mandl SAO PAULO (Reuters) -Bridgewater Associates, one of the world’s largest hedge funds, sold U.S. bank stocks in the first quarter as the collapse of regional lenders rattled investors, according to regulatory filings. The firm, founded by billionaire Ray Dalio, exited positions in five U.S. banking giants: JPMorgan & Co, Bank of America…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Foreign buying of U.S. Treasuries in March rose to its highest level in more than two years, data from the Treasury Department showed on Monday, as investors snapped safe-haven government debt in the wake of banking stress during the month. Holdings of U.S. Treasuries rose to $7.573 trillion…
(Reuters) -OpenAI is preparing to release a new open-source language model to the public, The Information reported on Monday, citing a person with knowledge of the plan. OpenAI’s ChatGPT, known for producing prose or poetry on command, has gained widespread attention in Silicon Valley as investors see generative AI as the next big growth area…
(Reuters) -British electric vehicle start-up Arrival SA said on Monday it had $130 million in cash and cash equivalents at the end of March, down nearly 37% from the end of December. The company, which did not provide any details on first-quarter results in its earnings release, said it has built three vans at its…
(Reuters) -Billionaire investor William Ackman has built in the first quarter a new stake in Alphabet worth $1.1 billion, according to a regulatory filing on Monday. According to the filing, Ackman’s hedge fund Pershing Square Capital Management owned 8.1 million class C shares and 2.2 million shares class A of Alphabet at the end…
By Jonathan Stempel (Reuters) -Berkshire Hathaway Inc on Monday disclosed it has begun investing in Capital One Financial Corp while exiting investments in four other stocks, as the company run by Warren Buffett cut back its exposure to equities. Buffett’s company made its disclosures in a regulatory filing listing its U.S.-traded stocks as of March…
By Nandita Bose WASHINGTON (Reuters) -The White House on Monday released financial disclosure reports for President Joe Biden showing the president’s personal finances in 2022 changed little from the prior year, even though his book royalties fell. Biden earned between $2,500 and $5,000 in book royalties in 2022, down sharply from $30,000 a year earlier….
By Libby George and Karin Strohecker LONDON (Reuters) – Turkey’s sovereign dollar bonds and equities tumbled, and the cost of insuring exposure to the country’s debt spiked as Turkey’s presidential race heads to a runoff with incumbent Tayyip Erdogan leading his opposition rival. Turkey’s main banking stock index tumbled 9.6% as markets gauged potential fallout…
By Noe Torres MEXICO CITY (Reuters) – Mexico’s peso currency flexed its muscle on Monday to reach its highest value against the U.S. dollar in seven years, following nearly two years of interest rate hikes aimed at taming inflation that has seen consumer prices edge down. Some analysts chalk up the peso’s latest gains, however,…
