A look at the day ahead in U.S. and global markets by Amanda Cooper Everyone is laser-focused on U.S. inflation right now. With a relentless set of rate hikes, the Federal Reserve has managed to drive consumer price increases down to 3%, from last June’s 9.1%. Part of the decline has been down to base…
ISTANBUL (Reuters) – Turkey aims to lower soaring inflation permanently after a transitional period where prices remain high, Finance Minister Mehmet Simsek said on Thursday in an interview with the Yeni Safak newspaper. “Our goal is to bring down inflation permanently after a transitional period,” Simsek said. The sustained price pressure, driven by a drop…
By Rajendra Jadhav MUMBAI (Reuters) -Demand for palm oil has been increasing as its discount to soyoil and sunoil has grown, driven by the recent price rise in rival oils due to production concerns in the U.S. and supply disruptions from the Black Sea region, industry officials said. This surge in demand is expected to…
By Dawn Chmielewski and Krystal Hu (Reuters) – Walt Disney has created a task force to study artificial intelligence and how it can be applied across the entertainment conglomerate, even as Hollywood writers and actors battle to limit the industry’s exploitation of the technology. Launched earlier this year, before the Hollywood writers’ strike, the group…
By Nate Raymond (Reuters) – A federal appeals court on Wednesday ruled that a decades-old law prohibiting users of illegal drugs from owning firearms was unconstitutional as applied to the case of a marijuana user, the latest fallout from a U.S. Supreme Court ruling last year that expanded gun rights. A three-judge panel of the…
LONDON (Reuters) – Britain said on Thursday it was weighing how to respond to a decision by U.S. President Joe Biden to prohibit some tech investments in China, adding it was continuing to assess potential national security risks. Biden signed an executive order on Wednesday that authorizes the U.S. Treasury secretary to prohibit or restrict…
By Anton Bridge TOKYO (Reuters) -Japan’s Rakuten Group will fold its payments and points businesses into its credit card unit, it said on Thursday, a move that could set up the struggling e-commerce company to eventually list the card business. Despite strong revenue from its core e-commerce offerings, Rakuten has lost money for 12 straight…
ZURICH (Reuters) – Siemens is seeing changing investment patterns by some customers regarding China as tensions rise between Washington and Beijing, Chief Executive Roland Busch said on Thursday. Siemens, which reported third quarter earnings below forecasts, said clients were increasingly looking to build new facilities outside China, Busch said, echoing comments from rival engineering group…
By Kirsty Needham SYDNEY (Reuters) – India, Japan, the United States and Australia will hold the Malabar navy exercise off the coast of Sydney on Friday, the first time the war games previously held in the Indian Ocean have taken place in Australia. Japanese and Indian navy vessels stopped in Pacific Island countries Solomon Islands…
By Tetsushi Kajimoto TOKYO (Reuters) -Japan’s wholesale inflation eased for a seventh month in July as pressure from high global commodity prices eased, a development economists say is likely to encourage the central bank to keep its monetary stimulus in place. The 3.6% rise in the corporate goods price index (CGPI), which measures the price…
