NEW YORK (Reuters) -Warren Buffett said he expects the U.S. government to increase taxes to tackle widening fiscal deficits rather than reduce spending. “I think higher taxes are likely,” he said on Saturday at Berkshire Hathaway’s annual shareholder meeting in Omaha. “They may decide that some day they don’t want the fiscal deficit to be…
TAIPEI (Reuters) – A former U.S. ambassador appointed by Donald Trump said on Saturday he believed the former president would again support Taiwan if he wins back the White House. Taiwan, claimed by China as its own territory despite Taipei’s objections, received strong backing from Trump’s 2017-2021 administration, including arms sales, which have continued under…
By Ann Saphir PALO ALTO, California (Reuters) -The U.S. central bank’s 2% target for inflation is key to achieving price stability and essential for ensuring economic prosperity, New York Federal Reserve Bank President John Williams said on Friday. His defense of the inflation target comes amid persistent calls from some corners for the Fed to…
By Jonathan Landay WASHINGTON (Reuters) – Scores of lawmakers from U.S. President Joe Biden’s Democratic Party told him on Friday that they believe there is sufficient evidence to show that Israel has violated U.S. law by restricting humanitarian aid flows into war-stricken Gaza. A letter to Biden signed by 86 House of Representatives Democrats said…
By Mike Scarcella WASHINGTON (Reuters) -Google and the U.S. Justice Department wrapped up closing arguments on Friday over claims that the Alphabet unit has unlawfully dominated web search and related advertising, in a case the government contends could shape the “future of the internet.” U.S. District Judge Amit Mehta in Washington for hours grilled both…
By David Randall NEW YORK (Reuters) – The prospect of interest rates remaining elevated as the Federal Reserve battles inflation is further clouding the outlook for shares of smaller U.S. companies, which have lagged broader markets this year. Small cap stocks surged at the end of 2023, as expectations grew that the Fed was done…
By Ceyda Caglayan and Huseyin Hayatsever ISTANBUL (Reuters) – Turkey said on Friday it will not resume trade with Israel, worth $7 billion a year, until a permanent ceasefire and humanitarian aid are secured in Gaza, becoming the first of Israel’s key commercial partners to take such a step. Israel’s “uncompromising attitude” and the worsening…
By Manas Mishra and Christy Santhosh (Reuters) -Amgen shares headed for their best session since 2009 on Friday after the U.S. drugmaker hinted at encouraging interim trial data on its experimental obesity drug, denting rival stocks but leaving analysts frustrated with a lack of details. Weight-loss drugmaker Eli Lilly’s shares fell 1.6% while Novo Nordisk’s…
(Reuters) – Real estate services provider CBRE Group’s first-quarter profit beat analysts’ estimates on Friday, helped by higher leasing demand at a time when commercial property sales remain under pressure from elevated interest rates. “Leasing outperformed expectations, driven by office leasing growth globally,” CBRE CEO Bob Sulentic said. The company’s global leasing revenue rose 4%,…
By Ron Bousso LONDON (Reuters) -Shell reported first-quarter profit of $7.7 billion on Thursday, exceeding expectations as disruption to Red Sea shipping and Russian refining boosted oil trading and liquefied natural gas (LNG) production rose. The company said it will buy back a further $3.5 billion of its shares over the next three months, at…
