By Mike Stone, Trevor Hunnicutt and Krishn Kaushik WASHINGTON/NEW DELHI (Reuters) – Ahead of Indian Prime Minister Narendra Modi’s state visit to Washington, the Biden administration is pushing New Delhi to cut through its own red tape and advance a deal for dozens of U.S.-made armed drones, two people familiar with the matter said. India…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets are set for an explosive open on Wednesday after a below-consensus reading of headline U.S. inflation lit the touchpaper for a rally across all risky assets on Tuesday, although investors will be mindful…
By Chibuike Oguh NEW YORK (Reuters) – The asset management arm of Australian bank Macquarie Group Limited has bought a majority stake in waste management firm Coastal Waste & Recycling, the bank said on Tuesday. The terms of the deal were not disclosed. The transaction values Coastal Waste & Recycling at about $900 million, according…
By Zeba Siddiqui (Reuters) – A U.S. surveillance program aimed at countering foreign threats that intelligence officials have used to spy on Americans faced resistance from both Republicans and Democrats at a Senate hearing to discuss its renewal on Tuesday. President Joe Biden’s administration has backed renewal of the program, effected through the 2008 statute…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar dropped to a three-week low on Tuesday on news of the smallest annual increase in inflation last month in more than two years, cementing expectations that the Federal Reserve will pause interest rate hikes at its two-day meeting ending on Wednesday. The dollar index slid as…
By Herbert Lash NEW YORK (Reuters) – Global shares rallied and the dollar eased on Tuesday after U.S. consumer price data showed inflation barely rose in May, increasing expectations the Federal Reserve will pause hiking interest rates when it concludes a two-day meeting on Wednesday. The annual increase in the consumer price index was the…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices climbed over 3% on Tuesday on hopes for growing fuel demand after China’s central bank lowered a short-term lending rate for the first time in 10 months, boosting crude prices after steep losses the previous session. The rate cut is aimed at adding momentum to a hesitant…
By David Shepardson WASHINGTON (Reuters) – U.S auto safety regulators told nearly two dozen major automakers on Tuesday not to comply with a Massachusetts vehicle telematics law, saying it poses significant safety concerns. The National Highway Traffic Safety Administration (NHTSA) said in a letter to major automakers they must comply with a federal vehicle safety…
By Michael Martina WASHINGTON (Reuters) – The U.S. State Department amended part of a statement to Congress in which it said Washington would invite Hong Kong’s chief executive, who faces U.S. sanctions, to a November summit, after lawmakers urged he be barred from entering the country. The Unites States is set to host this year’s…
WASHINGTON (Reuters) – U.S. lawmakers warned on Tuesday that China could be preparing to forcibly repatriate refugees who fled North Korea and urged the United Nations to use its influence with Beijing to prevent this. Chris Smith, Republican chairman of the Congressional-Executive Commission on China (CECC), told a hearing there was “good reason to believe”…
