By Kevin Yao BEIJING (Reuters) -China will roll out more stimulus to support a slowing economy this year, but concerns over debt and capital flight will keep measures targeted at shoring up weak demand in the consumer and private sectors, sources involved in policy discussions said. The world’s second-largest economy stumbled in May with data…
By Noel Randewich and Shristi Achar A (Reuters) – The S&P 500 and Nasdaq surged on Thursday to close at their highest in 14 months, as investors cheered economic data that fueled bets that the U.S. Federal Reserve is nearing the end of its aggressive interest-rate hike campaign. Treasury yields slid after a slew of…
By Lisa Baertlein and David Shepardson LOS ANGELES/WASHINGTON (Reuters) -U.S. business groups on Thursday said a “hard-fought” six-year labor deal tentatively agreed between U.S. West Coast seaport employers and the union representing 22,000 workers should avoid economic harm and urged both sides to ratify it quickly. The tentative deal was announced on Wednesday and followed…
By Jonathan Stempel NEW YORK (Reuters) – JPMorgan Chase urged a federal judge to reject the U.S. Virgin Islands’ demand that Chief Executive Jamie Dimon sit for a second deposition for its lawsuit about the bank’s long relationship with Jeffrey Epstein. In a letter made public on Thursday, the largest U.S. bank said Dimon made…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The Bank of Japan, the most dovish major central bank in the world, announces its latest policy decision on Friday, with markets highly sensitive to signs of when and to what degree it will ditch…
By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Bank of Atlanta President Raphael Bostic acknowledged Thursday more issues with his past financial disclosures, as part of a general release by the regional Fed banks of financial disclosure forms for their leaders covering 2022. Bostic already acknowledged last year what he deemed as inadvertent errors…
By Duncan Miriri and George Obulutsa NAIROBI (Reuters) -Kenya’s finance minister on Thursday said the government will pay all debts when they fall due, and cut the budget deficit for the fiscal year starting next month to 4.4% from an estimated 5.8% in this financial year. In a budget speech that was briefly interrupted by…
By Sinéad Carew and Marc Jones NEW YORK, LONDON (Reuters) – MSCI’s global index of stocks rose on Thursday to its highest level since April 2022 after strong U.S. economic data, but the dollar slid following the European Central Bank’s interest rate increase a day after the Federal Reserve paused its hikes. While U.S. jobless…
(Reuters) – Bed Bath & Beyond’s lender Sixth Street Partners is considering bidding for at least some of the bankrupt retailer’s assets, the Wall Street Journal reported on Thursday, citing a court hearing. Sixth Street is planning to use more than $500 million of its debt in the company to bid, the report said, citing…
By Gilles Guillaume PARIS (Reuters) – The world’s No.3 carmaker Stellantis will unveil its first European-made affordable electric car in mid-October, the new Citroën e-C3, as it gears up to counter the arrival of lower-cost Chinese brands in the European market. Electric vehicles (EVs) are more expensive than their fossil-fuel counterparts and European carmakers plan…
