SYDNEY (Reuters) – Australia’s government announced on Friday that Michele Bullock, Deputy Governor at the Reserve Bank of Australia, will take over from Governor Philip Lowe in September, following a review that has recommended sweeping changes to the decades-old institution. In one of his final actions before the decision, Lowe on Wednesday outlined the changes…
By Luc Cohen and Hannah Lang NEW YORK (Reuters) – Alex Mashinsky, founder and former CEO of bankrupt cryptocurrency lender Celsius Network, pleaded not guilty Thursday to U.S. fraud charges that he misled customers and artificially inflated the value of his company’s propriety crypto token. Three federal regulatory agencies also sued Mashinsky and Celsius in…
By Chen Lin SINGAPORE (Reuters) -Singapore’s economy narrowly escaped a recession in the second quarter as global demand weakened and China’s slowdown dragged on trade flows, leading some economists to cut their growth forecasts for the year. The Southeast Asian economy grew a seasonally adjusted 0.3% quarter-on-quarter, following a 0.4% contraction in the first three…
By Xie Yu and Makiko Yamazaki HONG KONG/TOKYO (Reuters) – Global hedge funds and asset managers are scouring Tokyo for talent to expand in Japan and ride a surge of investor interest that has lifted the stock market to its highest in more than three decades. Lured by signs of improving governance and better shareholder…
By Patricia Zengerle WASHINGTON (Reuters) -The Republican-led U.S. House of Representatives added restrictions on abortion and transgender health services to its version of the National Defense Authorization Act (NDAA) on Thursday, threatening the defense policy bill’s chances of becoming law. Voting largely along party lines, the House backed several measures pushed by the Republican party’s…
BRUSSELS (Reuters) – Euro zone finance ministers agreed on Thursday that the single currency area needed a “determined, gradual and realistic” reduction of government spending to boost economic growth and prepare for future challenges. In a statement agreed at the Eurogroup meeting in Brussels, the ministers said economic growth in 2024 was expected to improve…
TOKYO (Reuters) -Nissan Motor is likely to invest around 100 billion yen ($725 million) in Renault’s new electric vehicle unit, the Yomiuri Shimbun said on Friday, potentially clearing a hurdle in drawn-out talks to reshape their automaking alliance. The Japanese automaker on Thursday settled on the terms for a contract to overhaul its partnership with…
By Valentine Hilaire MEXICO CITY (Reuters) -The Mexican government is no longer interested in purchasing Citigroup’s local retail arm, known as Banamex, a government spokesperson said on Thursday, adding that the U.S. bank “chose a different path” for its unit. Mexican President Andres Manuel Lopez Obrador floated the idea of purchasing the bank in May,…
KYIV (Reuters) -Ukraine has received cluster bombs from the United States, munitions banned in more than 100 countries, but has pledged to only use them to dislodge concentrations of enemy soldiers. Valeryi Shershen, a spokesman for the Tavria, or southern, military district on Thursday confirmed an announcement by his commander that the weapons had arrived…
SINGAPORE (Reuters) – Australia on Friday appointed Michele Bullock as the next central bank governor, replacing Philip Lowe to become the first female head of the key institution. Reserve Bank of Australia (RBA) Governor Lowe’s current seven-year term is due to finish on Sept. 17, which will now mark the end of his 43-year career…
