By David Brunnstrom and Michael Martina WASHINGTON (Reuters) – A U.S. summit with Japan and South Korea on Friday will include an ambitious set of initiatives to lock in progress between the allies, White House Indo-Pacific coordinator Kurt Campbell said on Wednesday. Campbell said the U.S. relationship with Japan and South Korea would be a…
By Pete Schroeder WASHINGTON (Reuters) -Wall Street ended Wednesday lower and oil continued a downward slide as concerns over more Federal Reserve rate hikes and China’s laggard economy weighed on investors. U.S. stocks accelerated losses after minutes of the Fed’s July rate-setting meeting showed officials were divided on the need for more interest rate hikes,…
By Michael Martina and David Shepardson WASHINGTON (Reuters) – Close to half of American adults support a ban on the Chinese-owned social media app TikTok, according to a new Reuters/Ipsos survey that also asked questions about national security concerns and China. TikTok, owned by Chinese tech giant ByteDance and used by tens of millions of…
By Moira Warburton (Reuters) – A campaign aide to embattled Republican U.S. Representative George Santos was charged with identity theft and wire fraud in federal court for impersonating a top congressional staffer in fundraising appeals, court documents unsealed on Wednesday showed. The indictment, filed in federal court in Brooklyn, New York, said Samuel Miele created…
By Siddharth Cavale NEW YORK (Reuters) – Big-box retailer Target said on Wednesday that losses caused by theft and organized retail crime, which had spiked in the first half of the year, are showing signs of stabilizing. Target shares were up 3.5% at $129.40 in afternoon trading after the company’s second-quarter profit exceeded analysts’ expectations…
WASHINGTON (Reuters) – The new U.S. ambassador to Niger, Kathleen FitzGibbon, will arrive in Niamey following a coup last month, the State Department said on Wednesday, in a signal of Washington’s continued engagement with the situation. A U.S. official said she is expected to arrive in Niger later this week. The Senate confirmed FitzGibbon, a…
By Jonathan Stempel (Reuters) – Allstate agreed to pay $90 million to settle a class action lawsuit by shareholders who accused the insurer of defrauding them by concealing that it lowered underwriting standards to boost growth. A preliminary settlement was filed on Monday in federal court in Chicago, and requires a judge’s approval. The lawsuit…
(Reuters) – The White House, pressed on Wednesday about recent Chinese growth, said there were issues with the transparency of economic data issued by Beijing. “We have all seen the reports of the economic weakness in China … and as we’ve said many times before, there have also been transparency issues as we know, when…
By Bianca Flowers (Reuters) – United Steel Workers (USW) International President Tom Conway on Wednesday called ArcelorMittal’s bid consideration for U.S. Steel “foolish” and said the union wouldn’t endorse any buyers other than Cleveland-Cliffs. ArcelorMittal SA (MT.LU), the world’s second-largest steelmaker, is considering a potential offer for U.S. Steel Corp Reuters reported. If it does…
By Allison Lampert (Reuters) – Loss-making private jet firm Wheels Up Experience nabbed a key $500 million lifeline but still faces turnaround challenges, as demand for private travel softens in the wake of the COVID-19 pandemic and rival operators lure some of their customers. Wheels Up avoided a possible bankruptcy when it secured backing from…
