By Marc Jones LONDON (Reuters) – The head of the Bank of International Settlements has warned that years of fighting economic crises have created conditions that are pushing the limits of stability when it comes to the international financial system. Agustín Carstens, general manager of the BIS, which is dubbed the central bankers’ central bank,…
By Andrea Shalal WASHINGTON (Reuters) -The Group of Seven (G7) coalition will keep a $60 per barrel price cap on seaborne Russian oil, a coalition official said, despite rising global crude prices and calls by some countries for a lower price cap to restrict Moscow’s revenues. The G7 and Australia made the decision to maintain…
By Lucia Mutikani WASHINGTON (Reuters) – Confidence among U.S. single-family homebuilders improved for a fourth straight month in April as a dearth of previously owned homes and falling mortgage rates boosted demand for new houses, but a shortage of building materials remained a challenge. Other data on Monday showed manufacturing activity in New York state…
By Brendan Pierson (Reuters) -E-cigarette company Juul Labs Inc and its former largest investor, Marlboro maker Altria Group Inc, on Monday settled claims by the state of Minnesota that accused them of fueling teen vaping addiction. The settlement was announced by Minnesota Attorney General Keith Ellison and by Juul as a trial in the case,…
SHANGHAI (Reuters) -Tesla’s Shanghai factory workers took to social media to appeal to Elon Musk and the Chinese public after being told at the weekend about cuts to their performance bonuses, according to online posts and employees who spoke to Reuters. Several posts said they believed the deductions were linked to a fatal accident earlier…
FRANKFURT (Reuters) – The European Central Bank can discuss changing its 2% inflation goal but only after it brings down inflation to that level, ECB President Christine Lagarde said on Monday. “At the moment… there is absolutely no reason to change that 2% medium-term objective,” Lagarde said at the Council on Foreign Relations in New…
SHANGHAI (Reuters) -China’s auto market, the world’s largest, is accelerating toward an electric future – leaving established global brands stuck in the slow lane. When auto executives convene in Shanghai for the auto show starting Tuesday, they will return to a sharply different market from the one they left in 2021 when the industry gathered…
By Lisa Baertlein LOS ANGELES (Reuters) – California’s bustling seaports, dominated by massive container vessels and soaring cranes, may seem an unlikely setting for investors seeking to capitalize on the “green” revolution. But thanks to the state’s plan to phase out by 2035 heavy-duty diesel trucks that haul containers to ships and warehouses, the ports have…
(Reuters) – Eli Lilly and Co said on Monday it will invest an additional $1.6 billion at its two new manufacturing sites in Indiana, United States to support the manufacturing of its recently approved cancer drug, Jaypirca, among others. The company’s total investment commitment in the facilities now stands at $3.7 billion, Eli Lilly said….
(Reuters) – Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC), said hedge funds and other parts of the shadow banking system need to face greater scrutiny after last month’s upheaval in U.S. government bonds, the Financial Times reported on Saturday. Gensler told the newspaper that reducing the risks from speculative funds…
