By Jane Lanhee Lee OAKLAND, California (Reuters) – Artificial intelligence and quantum computing startup SandboxAQ on Tuesday said it has won a U.S. government contract for military cyber security in a deal that includes Microsoft and Deloitte & Touche as subcontractors. The contract is with the Defense Information Systems Agency which provides global communications infrastructure…
SHANGHAI/BEIJING (Reuters) – China’s monetary authorities took forceful action against a sliding currency for the first time in nearly eight months on Tuesday, with the country’s state banks acting to put a floor under the yuan even as officials pledged more stimulus for the flagging economy. The People’s Bank of China (PBOC) set a stronger-than-expected…
By Jörn Poltz (Reuters) – Former Audi boss Rupert Stadler was handed a suspended sentence of one year and nine months by a Munich court on Tuesday for fraud in the 2015 diesel scandal, becoming the first former Volkswagen board member to receive such a sentence. The ex-boss was fined 1.1 million euros ($1.20 million),…
By Leika Kihara TOKYO (Reuters) – The Bank of Japan (BOJ) is likely to move steadily towards phasing out its massive stimulus and may tweak yield curve control as early as October, said former central bank policymaker Makoto Sakurai. While the central bank is likely to revise up this fiscal year’s growth and inflation forecasts…
MADRID (Reuters) -Spain will reimburse up to 15% of income tax to people who buy an electric vehicle (EV) before the end of the year to encourage cleaner driving, Economy Minister Nadia Calvino said on Tuesday. The initiative is part of an anti-inflation package worth 8.9 billion euros ($9.7 billion) in which other measures already…
By Swati Bhat MUMBAI (Reuters) -India’s current account deficit narrowed sharply in the January to March quarter, helped by a smaller trade gap and increased services exports, the Reserve Bank of India (RBI) said on Wednesday. The current account deficit (CAD) stood at $1.3 billion, or 0.2% of gross domestic product (GDP), in the fourth…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Global central banks experienced losses managing their reserves last year amid bond-heavy allocations that took a major hit in 2022 following aggressive monetary policy tightening around the world, according to the latest survey by a think tank group. About 40% of reserve managers surveyed said it will take…
STOCKHOLM (Reuters) – Sweden’s central bank will hike its policy rate by a quarter percentage point this week in a bid to bring down inflation further, but that is likely to be the end of the rate-hiking cycle, a poll by Reuters showed on Tuesday. Central banks around the globe have jacked up interest rates…
LONDON (Reuters) – Wall Street bank JPMorgan said on Tuesday it was staying “bearish” on China’s yuan despite its recent slide and that the country’s central bank could look to step in to prevent the move accelerating. “As spot currency weakness and depreciation expectations tend to be self-reinforcing, the People’s Bank of China might find…
(Reuters) – Delta Air Lines said on Tuesday it expects full-year profit per share at the high-end of its prior forecast on sustained travel demand. The company earlier said it expects to report 2023 adjusted profit in the range of about $5 per share to $6 per share. (Reporting by Shivansh Tiwary in Bengaluru; Editing…
