(Reuters) – Pacific Investment Management Co (PIMCO) is preparing for a “harder landing” while top central bank chiefs prepare to continue their campaign of interest rate rises, Daniel Ivascyn, chief investment officer at the U.S. bond giant, told the Financial Times in an interview published on Sunday. “The more tightening that people feel motivated to…
(Reuters) -Twitter is limiting how many tweets per day various accounts can read, to discourage “extreme levels” of data scraping and system manipulation, Executive Chair Elon Musk said in a post on the social media platform on Saturday. Verified accounts were initially limited to reading 6,000 posts a day, Musk said, adding that unverified accounts…
By Anirudh Saligrama (Reuters) – United Airlines plans to make changes in flight operations to avoid weather-related disruptions ahead of the Fourth of July holiday travel, Chief Executive Officer Scott Kirby said on Saturday. Recent flight disruptions have raised new concerns about whether airlines are ready to handle the summer travel boom during the first…
BEIJING (Reuters) – China has urged the Netherlands to not hinder bilateral cooperation in the semiconductor industry and to not abuse export controls, China’s Ministry of Commerce said in a statement. The statement was made in response to questions from the media, it said. It also said the two countries have communicated frequently and at…
(Reuters) – Swiss drugmaker Sandoz said on Saturday it had launched a biosimilar version of AbbVie Inc’s big selling arthritis treatment Humira, adding to U.S. competition for the drug that started in January. The Novartis-owned company said its drug, Hyrimoz, will be priced at a 5% discount off Humira’s current list price of $6,922 per…
By Jihoon Lee SEOUL (Reuters) – South Korea’s export downturn slowed in June, with auto exports extending robust rises and semiconductors narrowing their decline, as the bellwether Asian economy posted its first trade surplus since early last year. Shipments from Asia’s fourth-largest economy, offering one of the earliest snapshots of monthly global trade, fell 6.0%…
BEIJING (Reuters) – New home prices in China edged down in June from the previous month, marking a second straight month of declines, and housing sales are likely to remain weak over the summer when demand is usually at a low ebb, according to a private survey. The average price of new homes in 100…
(Reuters) – Walt Disney has been accused of systematically underpaying women in California in a lawsuit that alleges the company’s female employees in the state earned $150 million less than their male counterparts over an eight year period. The Friday filing in Los Angeles County Superior Court seeks to persuade the judge to certify a…
By Sinéad Carew, Sruthi Shankar and Johann M Cherian (Reuters) – Wall Street’s three major indexes advanced solidly on Friday, with the tech-heavy Nasdaq boasting its biggest first-half gain in 40 years as inflation showed signs of cooling while Apple closed with a $3 trillion market valuation for the first time. Apple Inc breached the…
By Saeed Azhar, Tatiana Bautzer and Nupur Anand NEW YORK (Reuters) – U.S. banks including JPMorgan Chase, Wells Fargo, Goldman Sachs and Morgan Stanley hiked their third-quarter dividends on Friday after sailing through the Federal Reserve’s annual health check, which showed they have enough capital to weather a severe economic downturn. JPMorgan, the biggest U.S….
