By Joseph White DETROIT (Reuters) – U.S. trade policy with China and other nations must strike a more equitable balance between needs of workers and corporate profits, leaders of two big U.S. unions said at the Asia Pacific Economic Cooperation trade ministers meeting on Thursday. “We’re not anti-trade,” United Auto Workers union President Shawn Fain…
By Josh Ye HONG KONG (Reuters) -Social media platform TikTok said on Thursday it is in the early stages of exploring a chatbot called “Tako” that can converse with users about short videos and help them discover content, and is conducting tests with select users in the Philippines. OpenAI, backed by Microsoft Corp, last year…
WASHINGTON (Reuters) – U.S. President Joe Biden said he has had several productive conversations with House Speaker Kevin McCarthy in their standoff over the federal government’s debt ceiling, adding that staff negotiators were continuing talks on Thursday afternoon. Democrat Biden, speaking at a White House event for his new pick to chair the Joint Chiefs…
By David Milliken LONDON (Reuters) -The Bank of England needs to push back against the risk that high inflation proves unexpectedly sticky, and may need to raise interest rates further, Monetary Policy Committee (MPC) member Jonathan Haskel said on Thursday. Haskel – who in the past has sometimes voted for bigger interest rate rises than…
By Jaiveer Shekhawat and Manya Saini (Reuters) -JPMorgan Chase & Co has told clients with personal credit lines at First Republic Bank that it will no longer offer them when they come up for renewal, a person familiar with the matter told Reuters on Thursday. The bank does not offer personal lines of credit and…
By Andrew Chung (Reuters) -The U.S. Supreme Court on Thursday curbed state and local governments from seizing and selling the homes of people with unpaid property taxes and keeping the proceeds beyond the amount owed, deeming the practice unconstitutional in a ruling in favor of a 94-year-old woman who battled tax authorities in Minnesota. The…
WASHINGTON (Reuters) – A debt default would deal significant, unambiguous damage to US national security, negatively impacting military readiness, morale and its capabilities, the top US general told a news conference on Thursday. “I think there’s no doubt whatsoever that there would be a very significant negative impact on the readiness, morale and capabilities of…
HONG KONG (Reuters) – Bank of America Corp has told around 40 bankers in Asia to look for new roles within the organisation, a person familiar with the matter said, as it moves to control costs globally and cut back amid slowing Chinese dealmaking. The bank on Wednesday notified the staff in Asia Pacific markets…
WASHINGTON (Reuters) – Republican U.S. House of Representatives Speaker Kevin McCarthy said on Thursday he spoke briefly with former President Donald Trump about the debt ceiling negotiations in recent days, as time runs short for an agreement to avoid default. Trump, who is seeking a second term in 2024 amid multiple legal challenges, has downplayed…
By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits increased moderately last week and data for the prior two weeks was revised sharply lower as fraudulent applications from Massachusetts were stripped out, indicating persistent labor market strength. The report from the Labor Department on Thursday, which also showed…
