By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar fell on Friday after Federal Reserve Chair Jerome Powell struck a moderately dovish stance, contrary to market expectations, saying that given how credit conditions have tightened, the U.S. central bank may not need to raise interest rates as much. A pause in negotiations to raise the…
By Ernest Scheyder (Reuters) – The U.S. Forest Service has told a federal court it is not sure when it could approve a land swap allowing Rio Tinto Plc to develop the Resolution Copper mine in Arizona, a surprising reversal that boosts several Native American groups opposed to the project. The complex case involves a…
By Byron Kaye and Lewis Jackson SYDNEY (Reuters) -Australia’s Westpac Banking Corp said it will refinance loans for some borrowers who don’t meet an industry standard that assesses their ability to repay, putting pressure on the bank regulator to relax guidelines after a year of interest rate hikes. The country’s No. 2 mortgage provider has…
By Lucy Craymer WELLINGTON (Reuters) – A 48-year-old homeless man appeared in New Zealand court on Friday on two charges of arson as police found a fifth body in the burnt out remains of a hostel in the capital Wellington. A blaze broke out on the top floor of the Loafers Lodge in the suburb of Newtown…
(Reuters) -Troubled Australian wealth manager AMP Ltd will pay a court-mandated penalty of A$24 million ($16.3 million) for billing dead clients for insurance and financial advice, effectively drawing the curtains to a scandalous saga dating back to 2018. The allegations first came to light when a public inquiry exposed systemic wrongdoing at the company, including…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks rallied and the dollar reached a seven-week peak on Thursday as discount retail giant Walmart Inc raised its sales outlook and strong economic data calmed recession fears while also dampening hopes the Federal Reserve would cut interest rates before year-end. Investors continued to closely monitor debt…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar rose to seven-week peaks on Thursday as another round of solid economic data further pared back bets on easing by the Federal Reserve, with the greenback also boosted by expectations of a U.S. debt ceiling deal to a avert potential default. The dollar index, a measure…
By Kirsty Needham SYDNEY (Reuters) – U.S. President Joe Biden telephoned his Papua New Guinea counterpart James Marape on Thursday after cancelling a historic meeting in the Pacific islands nation to tell him Secretary of State Antony Blinken would travel in his place, the two leaders said. Pacific island leaders will meet Indian Prime Minister…
By Ruma Paul and Sudarshan Varadhan DHAKA (Reuters) – Apparel makers in Bangladesh are considering rare bulk exports by air to Europe and the United States, as they race to meet deadlines and avoid cancellations after a cyclone delayed shipments, caused power cuts and disrupted production. The crunch could disrupt summer clothes supplies for retailers…
SYDNEY (Reuters) – Australian police have launched an investigation after a 95-year-old woman was injured during an “interaction” with police at an old people’s home. Media said police had tazered the great-grandmother, who has dementia, on Wednesday at the care home in the town of Cooma, about 300 km southwest of Sydney. “A critical incident…
