By Stephen Culp NEW YORK (Reuters) – U.S. stocks slouched to a higher close on Monday, and benchmark Treasury yields rose amid flickering optimism that Washington will get past partisan wrangling and reach a debt ceiling deal. While all three major U.S. stock indexes ended green, market participants appeared to show little conviction as first-quarter…
SYDNEY(Reuters) – Australia’s central bank decided to hike at its May meeting due to inflation risks from weak productivity growth, persistently high services inflation and faster-than-forecast rental increases, saying more rate rises may be required. Minutes of the Reserve Bank of Australia’s May 2 policy meeting released on Tuesday said board members also considered a…
SYDNEY (Reuters) -A measure of Australian consumer sentiment fell in May after a surprise hike in interest rates by the Reserve Bank of Australia (RBA) and a “mildly disappointing” federal budget clouded the outlook for family finances and the economy. The Westpac-Melbourne Institute index of consumer sentiment out on Tuesday slid 7.9% in May from…
By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -Automaker Stellantis has stopped construction at a more-than C$5 billion ($3.7 billion) electric-vehicle battery plant in Canada amid talks with the federal government about its support for the factory. “Effective immediately, all construction related to the battery module production on the Windsor site has stopped,” a spokesperson said,…
By Carolina Mandl (Reuters) -Big investment firms including Macquarie, Fidelity, Tiger Global and Coatue were among the largest buyers of U.S. listed shares of Taiwanese contract chipmaker TSMC in the first quarter, while Warren Buffett’s Berkshire Hathaway sold its remaining stake in the company, according to regulatory filings. Berkshire said in February it had reduced…
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 Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. A barrage of Chinese economic data on Tuesday will give investors a clearer picture of whether their growing fears over the health of Asia’s largest economy lately are justified. If the April snapshots of retail sales, urban investment…
By Steve Holland and David Brunnstrom WASHINGTON (Reuters) – The G7 summit U.S. President Joe Biden attends in Japan this week will show leaders unified behind a common approach to dealing with China based on shared values, even while recognizing each country will manage its own relationship with Beijing, a senior U.S. administration official said…
NEW YORK (Reuters) – A former civilian employee at a U.S. Army facility in South Korea has been arrested on charges of receiving $400,000 in kickbacks from military contractors, federal prosecutors in Manhattan said on Monday. Young Beom Kim, 62, was responsible for overseeing construction contracts at the Army Garrison Yongsan-Casey from 2017 to 2021….
By Andrew Goudsward (Reuters) – Exxon Mobil Corp on Monday settled a long-running human rights lawsuit with villagers who claimed soldiers Exxon hired to guard a natural gas facility in Indonesia committed murder and torture. The two sides said in a Washington, D.C., federal court filing that they had resolved the 2001 case. Agnieszka Fryszman,…
